Queens Library Foundation Inc
- Assets
- $22.3m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Jamaica, NY
- Founding
- 08/1990
- Data as of
- 06/2023
- EIN
- 11-3009405
Organization Overview
Queens Library Foundation Inc is located in Jamaica, NY. The organization was established in 1990. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Queens Library Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Queens Library Foundation Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $4.7m during the year ending 06/2023. While expenses have increased by 12.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION RAISES FUNDS FROM FDN. CORPORATIONS AND PRIVATE INDIVIDUALS TO SUPPORT THE TENS OF THOUSANDS OF FREE PROGRAMS AND SERVICES OFFERED BY QUEENS PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE QUEENS LIBRARY FOUNDATION RAISED $2,108,161 FROM FOUNDATIONS, CORPORATIONS AND INDIVIDUALS TO SUPPORT THE PROGRAMS, ACTIVITIES AND COLLECTIONS OF QUEENS PUBLIC LIBRARY. THIS INCLUDED RESTRICTED GRANTS TOTALING $270,536 FOR OUT-OF-SCHOOL LITERACY AND ENRICHMENT PROGRAMS FOR CHILDREN; $192,849 FOR DIGITAL LITERACY AND OTHER RE-ENTRY PROGRAMS FOR FORMERLY INCARCERATED INDIVIDUALS; $170,000 FOR JOB TRAINING AND ENTREPRENEURSHIP; $113,300 FOR PROGRAMS AND COLLECTIONS AT FLUSHING LIBRARY; $55,000 FOR HIP HOP PROGRAMS; AND $40,000 TO SUPPORT CO-BRANDED LIBRARY CARDS TO ENCOURAGE NEW CARD SIGN UPS AMONG SCHOOL CHILDREN AND ADULTS. THE QUEENS LIBRARY FOUNDATION CONTINUED TO MANAGE MULTI-YEAR GRANTS SECURED IN PREVIOUS YEARS WHICH RESULTED IN THE CLEAN-UP, BEAUTIFICATION, FURNISHING AND MAINTENANCE OF 6 LIBRARY GARDENS WHICH ARE NOW OPEN TO LIBRARY CUSTOMERS; THE INSTALLATION OF EXTENDED WIFI IN OVER 50 LIBRARIES WHICH HAS RESULTED IN AN ALMOST FOUR-FOLD INCREASE IN WIFI SESSIONS; THE LAUNCH OF NEW COLLEGE-READINESS PROGRAMS; DIGITAL LITERACY TRAINING FOR TEENS AND OTHERS WHO BORROW HOT SPOT DEVICES AND LAPTOPS FROM THE LIBRARY; AND ENRICHMENT AND LITERACY ACTIVITIES FOR CHILDREN AND YOUTH. UNRESTRICTED GRANTS AND CONTRIBUTIONS AWARDED TO THE QUEENS LIBRARY FOUNDATION WERE USED TO SUPPORT A VARIETY OF PROGRAMS AND SERVICES THROUGHOUT THE LIBRARY SYSTEM. THESE INCLUDE $101,258 IN MINI-GRANTS OF $2,500 DISTRIBUTED TO LIBRARY BRANCHES THROUGHOUT THE SYSTEM FOR PROGRAMS, ACTIVITIES AND COLLECTIONS; $98,468 IN INNOVATION FUND GRANTS TO SUPPORT TEN NEW INNOVATIVE PROJECTS DEVELOPED BY INDIVIDUAL LIBRARIES AND DEPARTMENTS; AND $26,673.50 FOR CULTURE PASS, WHICH PROVIDES FREE TICKETS TO CULTURAL INSTITUTIONS AND EVENTS FOR OUR CUSTOMERS, AND BRINGS CULTURAL EVENTS TO OUR LIBRARIES. THE QUEENS LIBRARY FOUNDATION ALSO SECURES IN-KIND DONATIONS TO HELP SUPPORT THE LIBRARY'S PROGRAMS AND ACTIVITIES. IN FY2023, THIS INCLUDED 810 BACKPACKS STUFFED WITH SCHOOL SUPPLIES FOR BACK TO SCHOOL GIVEAWAYS; 490 NEW BOOKS FOR OUR COLLECTIONS AND FOR GIVEAWAYS AT EVENTS; 20 BOXES OF T-SHIRTS AND OTHER SPORTS MEMORABILIA, 1,500 BASEBALL HATS, AND 600 SPORTS TOWELS TO DISTRIBUTE AS GIVEAWAYS AND INCENTIVES FOR CLUBS AND EVENTS; 198 CASES OF BOTTLED WATER AND OTHER BEVERAGES FOR REDISTRIBUTION AT MOBILE FOOD PANTRIES; AND TWO MUSEUM QUALITY TRAVELING EXHIBITS FOR DISPLAY AT OUR LIBRARIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Walcott Director | Trustee | 10 | $93,819 |
Sung Kim COO & SVP | 0.8 | $5,011 | |
Michael Tragalethru 113022 Board Assistant Treasurer | Officer | 2 | $11,622 |
Nick Buron Chief Librarian & SVP | 1.6 | $8,244 | |
Justin Deabler General Counsel & SVP | 2 | $10,396 | |
Gitte Peng Cos & SVP | Officer | 8 | $44,340 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keith D Balderson Printing Services | 6/29/23 | $130,091 |
K2d Strategies Fundraising Consult. | 6/29/23 | $171,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $236,580 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,759,073 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,995,653 |
| Total Program Service Revenue | $0 |
| Investment income | $524,736 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $223,906 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,744,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,224,156 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $372,585 |
| Compensation of current officers, directors, key employees. | $85,284 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $478,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $171,000 |
| Fees for services: Investment Management | $87,500 |
| Fees for services: Other | $130,788 |
| Advertising and promotion | $32,159 |
| Office expenses | $92,679 |
| Information technology | $29,867 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,569 |
| Insurance | $0 |
| All other expenses | $3,701 |
| Total functional expenses | $4,667,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,478,903 |
| Pledges and grants receivable | $116,392 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $379,931 |
| Investments—publicly traded securities | $18,265,301 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,237 |
| Total assets | $22,275,764 |
| Accounts payable and accrued expenses | $160,445 |
| Grants payable | $0 |
| Deferred revenue | $142,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $302,445 |
| Net assets without donor restrictions | $591,616 |
| Net assets with donor restrictions | $21,381,703 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,275,764 |