Asian Legacy Library US Inc

Analysis

Asian Legacy Library US Inc is a registered charity in United States, based in Sedona, AZ. It received its IRS tax-exemption ruling in January 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Asian Legacy Library US Inc reported income of $1.9m and spending of $1.7m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $228k to $1.9m (+746%), an average of +70% a year. The sharpest change came in the year to December 2021, when income rose by 1625%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Asian Legacy Library US Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within AZ. Charities of a similar size with the same main cause include Childrens Literacy Project ($1.9m), University Center of Lake County ($1.9m) and Montessori Childrens House of the West Coast ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $125k (7.4% of expenses). Other salaries and wages came to $138k. It paid $58k in professional fundraising fees. At year end it held assets of $1.2m against liabilities of $20k, net assets of $1.1m. It reported 4 employees.