Montecito Friends of the Library

Analysis

Montecito Friends of the Library is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in May 1976, 50 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Montecito Friends of the Library reported income of $127k and spending of $170k, spending 134% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $216k to $127k (-41%), an average of -10% a year. The sharpest change came in the year to June 2021, when income rose by 567%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Montecito Friends of the Library sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 45th percentile within CA. Charities of a similar size with the same main cause include Chase Youth Foundation ($127k), Red Land Senior Citizens Ctr Inc ($127k) and Shakespeare Club of Pasadena ($127k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 81% of the total. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m.