Friends of Latimer Quilt and Textile Center

Analysis

Friends of Latimer Quilt and Textile Center is a registered charity in United States, based in Tillamook, OR. It received its IRS tax-exemption ruling in May 1993, 33 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 Latimer Quilt and Textile Center reported income of $218k and spending of $171k, leaving 21% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $449k to $218k (-51%), an average of -51% a year. The sharpest change came in the year to December 2023, when income dropped by 51%. Over the whole period it spent 40% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Latimer Quilt and Textile Center sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within OR. Charities of a similar size with the same main cause include St Francis Foundation ($218k), USA Track & Field Inc ($218k) and Alexandria Electrical Joint Apprenticeship & Training Trust Fu ($218k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Other salaries and wages came to $49k. At year end it held assets of $676k against liabilities of $11k, net assets of $665k. It reported 3 employees.