Lexington Public Library Foundation
- Assets
- $804.4k
- Revenue
- $226.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 12/1997
- Data as of
- 06/2021
- EIN
- 31-1565272
Organization Overview
Lexington Public Library Foundation is located in Lexington, KY. The organization was established in 1997. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Public 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 06/2021, Lexington Public Library Foundation generated $226.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $906.9k during the year ending 06/2021. 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 LEXINGTON PUBLIC LIBRARY FOUNDATION WAS FORMED TO ENHANCE THE LIBRARY SERVICES OF THE LEXINGTON PUBLIC LIBRARY'S MISSION TO CONNECT PEOPLE, INSPIRE IDEAS, AND TRANSFORM LIVES IN FAYETTE COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL SUPPORT FOR SPECIFIC PROJECTS OF ANY TYPE IT CONSIDERS APPROPRIATE AND TO ASSIST THE BOARD OF TRUSTEES OF THE LIBRARY AND ITS ADVISORY BOARD IN MAKING THE LIBRARY MORE VALUABLE TO THE ENTIRE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Serrate Chair | OfficerTrustee | 2 | $0 |
Ramsey Bova Vice Chair | OfficerTrustee | 1 | $0 |
Christopher Reames Treasurer | OfficerTrustee | 2 | $0 |
Roda Ferraro Secretary | OfficerTrustee | 1 | $0 |
Jimmy Turek Past Chair | OfficerTrustee | 2 | $0 |
Heather Dieffenbach Executive Director, Librar | Officer | 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 | $176,826 |
| Noncash contributions included in lines 1a–1f | $25,594 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,826 |
| Total Program Service Revenue | $0 |
| Investment income | $7,385 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,423 |
| Net Income from Fundraising Events | $37,179 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $226,813 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $868,863 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,135 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $399 |
| 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 | $35,500 |
| Total functional expenses | $906,897 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $308,296 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $53 |
| 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 | $496,078 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $804,427 |
| 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 | $664 |
| Total liabilities | $664 |
| Net assets without donor restrictions | $387,787 |
| Net assets with donor restrictions | $415,976 |
| 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 | $804,427 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Lexington Public Library Foundation has recieved totaling $71,213.
| Awarding Organization | Amount |
|---|---|
Nisource Charitable Foundation Columbus, OH PURPOSE: CORPORATE DONATION | $52,500 |
Elhapa Foundation Inc Lexington, KY PURPOSE: TO SUPPORT GENERAL OPERATIONS | $10,000 |
Blue Grass Community Foundation Inc Lexington, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $5,436 |
E E Murry Family Foundation Lexington, KY PURPOSE: CHARITABLE | $2,300 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $202 |
Endowment Analysis
| Beg. Balance | $20,239 |
| Earnings | $5,617 |
| Ending Balance | $25,856 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stark County District Library Canton, OH | $22,550,169 | $20,470,010 |
Lexington Public Library Lexington, KY | $48,466,600 | $19,057,212 |
Chicago Public Library Foundation Chicago, IL | $39,161,773 | $5,601,419 |
Illinois Library Association Chicago, IL | $3,523,138 | $2,926,047 |
Rockingham Library Association Harrisonburg, VA | $9,275,406 | $2,755,751 |
Johnson City Public Library Johnson City, TN | $2,269,696 | $2,425,366 |
Danville Library Inc Danville, KY | $6,580,525 | $1,263,979 |
Samuels Library Inc Front Royal, VA | $1,258,942 | $1,396,617 |
Willard Library Of Evansville Evansville, IN | $2,845,085 | $1,302,512 |
Smyth County Public Library Marion, VA | $606,051 | $1,163,430 |
Lexington Public Library Foundation Lexington, KY | $804,427 | $226,813 |
Kansas City Metropolitan Library & Information Network Independence, MO | $752,486 | $765,658 |