Library Foundation Of New Hanover County
- Assets
- $1.1m
- Revenue
- $86.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Wilmington, NC
- Founding
- 03/2004
- Data as of
- 12/2021
- EIN
- 20-0547038
Organization Overview
Library Foundation Of New Hanover County is located in Wilmington, NC. The organization was established in 2004. 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. Library Foundation Of New Hanover County 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 12/2021, Library Foundation Of New Hanover County generated $86.9k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $50.8k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION IS TO STRENGTHEN THE SERVICES OF THE NEW HANOVER COUNTY PUBLIC LIBRARY BY PROVIDING FUNDING THAT COMPLEMENTS, BUT DOES NOT SUPPLANT THE RESPONSIBILITY OF THE NEW HANOVER COUNTY TO ADEQUATELY SUPPORT ITS PUBLIC LIBRARY SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO STRENGHTHEN THE SERVICES OF THE NEW HANOVER COUNTY PUBLIC LIBRARY BY PROVIDING FUNDING THAT COMPLEMENTS NEW HANOVER COUNTY IN SUPPORTINGTHE PUBLIC LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Baynard President | Officer | 1 | $0 |
June Knott Treasurer | Officer | 1 | $0 |
Paige Owens Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,162 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,531 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,693 |
| Total Program Service Revenue | $0 |
| Investment income | $22,662 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,097 |
| Net Income from Fundraising Events | $5,400 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,852 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $83 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $215 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $50,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,057 |
| Savings and temporary cash investments | $1,066,716 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,074,773 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $1,074,773 |
| Total liabilities and net assets/fund balances | $1,074,773 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Library Foundation Of New Hanover County has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
J Tylee Wilson Family Foundation Wilmington, DE PURPOSE: PINE VALLEY BUILDING FUND | $5,000 |
Grace Jones Richardson Tr Greensboro, NC PURPOSE: TO ASSIST THE ORGANIZATION IN CARRYING OUT ITS EXEMPT PURPOSE | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Licensing & Ventures Group Charlottesville, VA | $21,114,215 | $9,580,641 |
Phoenix Academy Inc High Point, NC | $3,025,069 | $10,364,069 |
Elizabeth City State University Foundation Elizabeth City, NC | $21,052,714 | $2,780,872 |
Scago Educational Facilities Corporation For Pickens School Dis Easley, SC | $211,994,412 | $9,218,813 |
Unc-G Excellence Foundation Greensboro, NC | $187,420,574 | $12,267,071 |
Georgia Gwinnett College Foundationinc Lawrenceville, GA | $177,329,540 | $11,526,847 |
Augusta University Foundation Inc Augusta, GA | $77,382,154 | $9,045,973 |
University Of North Carolina At Asheville Foundation Inc Asheville, NC | $61,754,429 | $7,423,002 |
Marshall-Wythe School Of Law Foundation Williamsburg, VA | $56,391,482 | $7,245,738 |
Securing Assets For Education Moncks Corner, SC | $221,693,651 | $7,774,514 |
Horatio Alger Endowment Fund Alexandria, VA | $322,951,010 | $58,271,352 |
Old Dominion Athletic Foundation Norfolk, VA | $75,318,666 | $6,634,127 |