Hermosa Beach Friends of the Library

Analysis

Hermosa Beach Friends of the Library is a registered charity in United States, based in Hermosa Beach, CA. It received its IRS tax-exemption ruling in December 1984, 42 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, Hermosa Beach Friends of the Library reported income of $95k and spending of $81k, spending 85% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $617k to $95k (-85%), an average of -61% a year. The sharpest change came in the year to December 2023, when income dropped by 83%. Over the whole period it spent 11% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hermosa Beach Friends of the Library sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 38th percentile within CA. Charities of a similar size with the same main cause include Orange County Four Seasons Orchestra ($95k), Reclaiming Hope Ranch ($95k) and Seattle Childrens Hospital ($95k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 11% of the total. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m.