Library Foundation of Los Angeles

Analysis

Library Foundation of Los Angeles is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 1992, 34 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Library Foundation of Los Angeles reported income of $8.5m and spending of $8.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.7m to $8.5m (+27%), an average of +6.2% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Library Foundation of Los Angeles sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Greensboro Academy Inc ($8.5m), Green Mountain Valley School Inc ($8.5m) and Taylion High Desert ($8.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $873k (10% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $62.3m against liabilities of $431k, net assets of $61.8m. It reported 50 employees.