Friends of the Library of Los Altos and Community Inc

Analysis

Friends of the Library of Los Altos and Community Inc is a registered charity in United States, based in Los Altos, CA. It received its IRS tax-exemption ruling in May 1975, 51 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Library of Los Altos and Community Inc reported income of $244k and spending of $140k, leaving 43% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $181k to $244k (+35%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 134%. Over the whole period it spent 57% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Library of Los Altos and Community Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 60th percentile within CA. Charities of a similar size with the same main cause include Kalamazoo Experiential Learning Center ($244k), Minnesota Brass Incorporated ($244k) and Mount Gretna School of Art ($244k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. At year end it held assets of $1.1m against liabilities of $4,072, net assets of $1.1m.