Fairbanks Library Foundation

Analysis

Fairbanks Library Foundation is a registered charity in United States, based in Fairbanks, AK. It received its IRS tax-exemption ruling in August 1981, 45 years ago. 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, Fairbanks Library Foundation reported income of $594k and spending of $413k, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $392k to $594k (+52%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 397%. Over the whole period it spent 39% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fairbanks Library Foundation sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 70th percentile within AK. Charities of a similar size with the same main cause include Rainbow Therapeutic Riding Center ($594k), Molokai Community Service Council Inc ($594k) and Wisdom & Money ($594k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. At year end it held assets of $2.5m against liabilities of $863, net assets of $2.5m.