Medford Public Library Foundation Inc

Analysis

Medford Public Library Foundation Inc is a registered charity in United States, based in Medford, MA. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Medford Public Library Foundation Inc reported income of $75k and spending of $205k, spending 274% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.1m to $75k (-93%), an average of -59% a year. The sharpest change came in the year to June 2021, when income rose by 277%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Medford Public Library Foundation Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 37th percentile within MA. Charities of a similar size with the same main cause include National Association for Korean Schools Mid Atlantic Chapter ($75k), Friends of Wells-Robertson House Inc ($75k) and The Sunshine Jazz Organization Inc ($75k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $1.8m against liabilities of $34k, net assets of $1.8m.