Lafayette Library And Learningcenter Foundation
- Assets
- $27.1m
- Revenue
- $3.0m
- Investments
- $26.5m
- Employees
- 6
- Location
- Lafayette, CA
- Founding
- 09/2007
- Data as of
- 06/2023
- EIN
- 26-0403799
Organization Overview
Lafayette Library And Learningcenter Foundation is located in Lafayette, CA. The organization was established in 2007. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2023, Lafayette Library And Learningcenter Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lafayette Library And Learningcenter Foundation 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, Lafayette Library And Learningcenter Foundation generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $1.8m during the year ending 06/2023. While expenses have increased by 8.0% 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
ESTABLISH & SUPPORT THE OPERATIONS & PROGRAMS OF THE LAFAYETTE LIBRARY & LEARNING CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAFAYETTE LIBRARY AND LEARNING CENTER FOUNDATION (LLLCF OR THE FOUNDATION) WAS CREATED IN 2007 TO ESTABLISH AND SUPPORT THE CONSTRUCTION, OPERATIONS, PROGRAMS, FUNDING AND OTHER BUSINESS OF THE LAFAYETTE LIBRARY AND LEARNING CENTER (LLLC).THE FOUNDATION ENHANCES LLLC EXCELLENCE BY PROVIDING FINANCIAL SUPPORT, OFFERING ENRICHING PROGRAMMING, DEEPENING PUBLIC COMMITMENT TO LLLC AND INCREASING LLLC'S VISIBILITY IN AND POSITIVE IMPACT ON THE COMMUNITY. THE FOUNDATION IS RESPONSIBLE FOR FUNDING OVER 50% OF THE ANNUALIZED OPERATING COSTS FOR THE LIBRARY. THIS INCLUDES EXPANDING LIBRARY HOURS, FUNDING PROGRAMS, PROVIDING ADDITIONAL COLLECTION MATERIALS, AND PAYING FOR MAINTENANCE AND OPERATIONS.
THE FOUNDATION WILL ADVANCE AND SUSTAIN LLLC AS A PREMIER INSTITUTION THROUGH EXCEPTIONAL PROGRAMMING WHICH INCLUDES: GLENN SEABORG LEARNING CONSORTIUM; DISTINGUISHED SPEAKERS SERIES; SCIENCE CAFE; AUTHORS AND ATHLETES; CHILDREN'S BOOK FESTIVAL; DOGTOWN; MAKERFEST; AND A HOST OF OTHER ART, MUSIC, LITERARY, SCIENCE, AND FAMILY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Evans President | OfficerTrustee | 10 | $0 |
Laney Whitcanack Vice President | OfficerTrustee | 10 | $0 |
Judy Kirkpatrick Secretary | OfficerTrustee | 2 | $0 |
Rita Iorfida Treasurer | OfficerTrustee | 10 | $0 |
Lisa Spiegler Immediate Past President | Trustee | 10 | $0 |
Adam Lyon Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $158,390 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $392,715 |
| Noncash contributions included in lines 1a–1f | $14,656 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $551,105 |
| Total Program Service Revenue | $152,455 |
| Investment income | $728,866 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,604,527 |
| Net Income from Fundraising Events | -$25,903 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,011,050 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $163,000 |
| Compensation of current officers, directors, key employees. | $32,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $166,986 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,877 |
| Payroll taxes | $24,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,402 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $89,018 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,775 |
| Office expenses | $25,935 |
| 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 | $575 |
| Insurance | $2,759 |
| All other expenses | $1,460 |
| Total functional expenses | $1,831,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,097 |
| Savings and temporary cash investments | $524,751 |
| Pledges and grants receivable | $86,800 |
| Accounts receivable, net | $10,738 |
| 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 | $2,894 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $26,507,929 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,136,209 |
| Accounts payable and accrued expenses | $1,330,649 |
| 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 | $38,109 |
| Total liabilities | $1,368,758 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $25,767,451 |
| 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 | $27,136,209 |