Library Association of LA Jolla

Analysis

Library Association of LA Jolla is a registered charity in United States, based in LA Jolla, CA. It received its IRS tax-exemption ruling in October 1944, 82 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, Library Association of LA Jolla reported income of $3.2m and spending of $2.2m, leaving 32% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $3.2m (+69%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Library Association of LA Jolla sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within CA. Charities of a similar size with the same main cause include Boys Home Incorporated ($3.2m), Christ Academy ($3.2m) and Islamic Foundation of Nevada a Nevada Non Profit Corporation ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $120k (5.5% of expenses). Other salaries and wages came to $517k. At year end it held assets of $8.4m against liabilities of $252k, net assets of $8.2m. It reported 49 employees.