Friends of the Foster City Library

Analysis

Friends of the Foster City Library is a registered charity in United States, based in Foster City, CA. It received its IRS tax-exemption ruling in May 1990, 36 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 June 2023, Friends of the Foster City Library reported income of $54k and spending of $11k, leaving 79% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $30k to $54k (+79%), an average of +79% a year. The sharpest change came in the year to June 2023, when income rose by 79%. Over the whole period it spent 28% 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 Foster City Library sits at the 21st percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within CA. Charities of a similar size with the same main cause include Louisiana Health Care Alliance Inc ($54k), Friends of the San Marcos Public Library ($54k) and Women of Sugarmill Woods Inc ($54k).

On its Form 990-EZ for the period ending June 2023, revenue came from program service revenue 43% of the total. At year end it held assets of $289k against liabilities of $0, net assets of $289k.