Friends of the Corona Public Library

Analysis

Friends of the Corona Public Library is a registered charity in United States, based in Corona, CA. It received its IRS tax-exemption ruling in November 1996, 30 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 2024, Friends of the Corona Public Library reported income of $140k and spending of $134k, spending 96% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $103k to $140k (+36%), an average of +8.0% a year. The sharpest change came in the year to June 2022, when income rose by 259%. Over the whole period it spent 66% 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 Corona Public Library sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 48th percentile within CA. Charities of a similar size with the same main cause include Lumpkin County Touchdown Club Inc ($140k), Association of Minnesota Emergency Managers ($140k) and Pine Bluff Positive Youth Development ($140k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 53% and program service revenue 5.2% of the total. At year end it held assets of $562k against liabilities of $300, net assets of $562k.