Friends of the Homer Public Library

Analysis

Friends of the Homer Public Library is a registered charity in United States, based in Homer, AK. It received its IRS tax-exemption ruling in August 1987, 39 years ago. 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, Friends of the Homer Public Library reported income of $81k and spending of $55k, leaving 32% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $65k to $81k (+24%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 24%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Homer Public Library sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 27th percentile within AK. Charities of a similar size with the same main cause include Mentor Richland County ($81k), Shenandoah Valley Steam & Gas Engine Association ($81k) and International Concern Inc ($81k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 78% of the total. At year end it held assets of $338k against liabilities of $1,949, net assets of $336k.