Friends of the Chinatown Library

Analysis

Friends of the Chinatown Library is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in January 1978, 48 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 May 2023, Friends of the Chinatown Library reported income of $132k and spending of $114k, spending 87% of its income. Across the 4 years on record, from May 2020 to May 2023, income grew from $111k to $132k (+18%), an average of +5.8% a year. The sharpest change came in the year to May 2022, when income rose by 72%. Over the whole period it spent 49% 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 Chinatown Library sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 46th percentile within CA. Charities of a similar size with the same main cause include Kohler School Foundation Inc ($132k), Pleasant Hill Booster Club ($132k) and Quilters Anonymous ($132k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 53% of the total. At year end it held assets of $2.3m against liabilities of $0, net assets of $2.3m.