Slover Library Foundation
- Assets
- $9.9m
- Revenue
- $614.8k
- Investments
- $2.3m
- Employees
- 2
- Location
- Norfolk, VA
- Founding
- 09/2015
- Data as of
- 06/2022
- EIN
- 26-3772819
Organization Overview
Slover Library Foundation is located in Norfolk, VA. The organization was established in 2015. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Slover Library Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Slover Library 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 06/2022, Slover Library Foundation generated $614.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $548.4k during the year ending 06/2022. While expenses have increased by 7.3% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT FOR A CENTRAL LIBRARY FOR THE CITY OF NORFOLK.
Describe the Organization's Program Activity:
SPONSORSHIP OF SPEAKERS, EXHIBITS, RECEPTIONS, PERFORMANCES, AND EDUCATIONAL EVENTS CONDUCTED AT THE NORFOLK PUBLIC LIBRARY THROUGHOUT THE YEAR INCLUDING NATIONAL POETRY EVENTS, NASA SCIENCE EXHIBITS, NATO FESTIVAL EVENTS, POLITICAL SCIENCE SPEAKER FORUMS, YOUTH PIANO RECITALS, AND SIMILAR EVENTS.
INVESTMENTS IN THE NORFOLK PUBLIC LIBRARY'S FACILITIES AND TECHNOLOGY IMPROVEMENTS TO SUPPORT ITS ONGOING MISSION AND ACTIVITIES.
ACTIVITIES AND EVENTS IN THE COMMUNITY TO PROMOTE THE NORFOLK PUBLIC LIBRARY AND ITS PROGRAMS INCLUDING SPONSORSHIP OF EDUCATIONAL WORKSHOPS, DECORATION OF LIBRARY SPACE FOR HOLIDAY EVENTS, DEVELOPMENT OF INTERACTIVE APPLICATIONS FOR PATRONS, DISTRIBUTION OF PROMOTIONAL MATERIALS, AND SIMILAR ACTIVITES. INCLUDES CERTAIN PROGRAMS COORDINATED WITH THE VIRGINIA ARTS FESTIVAL, NAUTICUS FOUNDATION, VIRGINIA FOUNDATION FOR THE HUMANITIES AND OTHER NON-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D Fraim Chairman & President | OfficerTrustee | 40 | $142,000 |
Blythe A Scott Director | Trustee | 5 | $0 |
Vincent J Mastracco Jr Secretary & Treasurer | OfficerTrustee | 5 | $0 |
Yvonne T Allmond Director | Trustee | 0.5 | $0 |
Jane P Batten Director | Trustee | 0.5 | $0 |
Frank Batten Jr Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $32,290 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,715 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,005 |
| Total Program Service Revenue | $0 |
| Investment income | $201,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,541 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $614,841 |
| 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. | $142,000 |
| Compensation of current officers, directors, key employees. | $5,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,065 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,258 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,078 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,563 |
| 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 | $7,414 |
| All other expenses | $17,404 |
| Total functional expenses | $548,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $528,826 |
| Savings and temporary cash investments | $0 |
| 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 | $6,260 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,053,447 |
| Investments—other securities | $2,321,212 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,830 |
| Total assets | $9,941,575 |
| 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 | $25,100 |
| Total liabilities | $25,100 |
| Net assets without donor restrictions | $9,691,429 |
| Net assets with donor restrictions | $225,046 |
| 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 | $9,941,575 |