Friends of Community Memorial Building

Analysis

Friends of Community Memorial Building is a registered charity in United States, based in Lake City, IA. It received its IRS tax-exemption ruling in August 2022, 4 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 December 2023, Friends of Community Memorial Building reported income of $154k and spending of $63k, leaving 59% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $73k to $154k (+109%), an average of +110% a year. The sharpest change came in the year to December 2023, when income rose by 109%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Community Memorial Building sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 48th percentile within IA. Charities of a similar size with the same main cause include Olathe Northwest High School Raven Pride Band Boosters Foundation ($154k), Dubuque Area Labor-Management Council ($154k) and East Pauling High School Band Boosters Inc ($154k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $123k against liabilities of $0, net assets of $123k.