Schlow Library Foundation Inc
- Assets
- $1.0m
- Revenue
- $336.7k
- Investments
- $0.0
- Employees
- 0
- Location
- State College, PA
- Founding
- 08/1973
- Data as of
- 12/2021
- EIN
- 23-7269521
Organization Overview
Schlow Library Foundation Inc is located in State College, PA. The organization was established in 1973. 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. Schlow 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 12/2021, Schlow Library Foundation Inc generated $336.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $245.3k during the year ending 12/2021. While expenses have increased by 23.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CRUCIAL ADVOCACY, FINANCIAL, AND VOLUNTEER SUPPORT FOR SCHLOW LIBRARY ACTIVITIES. THE FOUNDATION WORKS TO ENSURE THAT SCHLOW LIBRARY SERVICES WILL CONTINUE WITHOUT INTERRUPTION THROUGH FUNDRAISING PROJECTS AND OUTREACH PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE CRUCIAL ADVOCACY, FINANCIAL, AND VOLUNTEER SUPPORT FOR SCHLOW LIBRARY ACTIVITIES. THE FOUNDATION WORKS TO ENSURE THAT SCHLOW LIBRARY SERVICES WILL CONTINUE WITHOUT INTERRUPTION THROUGH FUNDRAISING PROJECTS AND OUTREACH PROGRAMS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Kretchmar Secretary | OfficerTrustee | 1 | $0 |
Alfred Jones Jr President | OfficerTrustee | 4 | $0 |
Thomas Schrack Vice President | OfficerTrustee | 1 | $0 |
Virginia Mcadoo Assistant Treasurer | OfficerTrustee | 1 | $0 |
Sue Werner Trustees Liason | OfficerTrustee | 1 | $0 |
Marilyn Byers Treasurer | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $268,591 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $268,591 |
| Total Program Service Revenue | $0 |
| Investment income | $68,076 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $336,667 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $205,626 |
| 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 | $25,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,245 |
| Advertising and promotion | $4,746 |
| Office expenses | $1,985 |
| Information technology | $0 |
| 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 | $245,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $140,833 |
| 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 | $891,345 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,032,178 |
| Accounts payable and accrued expenses | $838 |
| 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 | $838 |
| Net assets without donor restrictions | $1,031,340 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,032,178 |
Grants Awarded
Over the last fiscal year, Schlow Library Foundation Inc has awarded $177,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
State College, PA PURPOSE: To provide financial support for library activities | $152,000 |
State College, PA PURPOSE: To establish spendable Schlow Library Foundation Sub-Fund | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Schlow Library Foundation Inc has recieved totaling $76,550.
| Awarding Organization | Amount |
|---|---|
Centre County Community Foundation Inc State College, PA PURPOSE: GENERAL SUPPORT | $75,500 |
The@blake And Linda Gall Family Foundation Boalsburg, PA PURPOSE: ENRICHMENT PROGRAMS | $1,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Ohio University Foundation Athens, OH | $641,559,157 | $75,179,430 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Forrestal Agricultural Corporation Princeton, NJ | $368,119,233 | $43,096,782 |
University Of Maryland Foundation Inc Adelphi, MD | $2,110,990,979 | $62,167,598 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Maryland Baltimore Foundation Inc Baltimore, MD | $437,980,331 | $59,974,746 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |