Galesburg Public Library Foundation
- Assets
- $8.3m
- Revenue
- $748.8k
- Investments
- $3.0m
- Employees
- 2
- Location
- Galesburg, IL
- Founding
- 01/2009
- Data as of
- 12/2021
- EIN
- 32-0233242
Organization Overview
Galesburg Public Library Foundation is located in Galesburg, IL. The organization was established in 2009. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2021, Galesburg Public Library Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galesburg 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 12/2021, Galesburg Public Library Foundation generated $748.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $247.9k during the year ending 12/2021. While expenses have increased by 9.9% 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 ENHANCE LIBRARY RESOURCES AND SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVE SUPPORT AND REVENUES THAT WILL BE USED TO ENHANCE THE SERVICES AND RESOURCES OF THE GALESBURG PUBLIC LIBRARY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Semenya Mccord Trustee | OfficerTrustee | $0 | |
Martin Reichel Treasurer | OfficerTrustee | $0 | |
Mark Stegall Trustee | OfficerTrustee | $0 | |
Heather Sipes Executive Di | Officer | $0 | |
Stewart Allison President | Trustee | $0 | |
Steven Bailey Vice Preside | Trustee | $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 | $470,786 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $470,786 |
| Total Program Service Revenue | $0 |
| Investment income | $179,635 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $98,348 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $748,769 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,270 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $899 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,282 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $101,500 |
| Fees for services: Investment Management | $29,028 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $16,642 |
| 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 | $68,742 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $247,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $692,226 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,637,938 |
| Investments—other securities | $3,000,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,330,164 |
| Accounts payable and accrued expenses | $344 |
| 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 | $3,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,000,344 |
| Net assets without donor restrictions | $3,601,483 |
| Net assets with donor restrictions | $1,728,337 |
| 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 | $8,330,164 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Galesburg Public Library Foundation has recieved totaling $18,227.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $9,977 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,614 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $136 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tenant Resource Center Inc Madison, WI | $4,020,377 | $17,889,286 |
Newberry Library Chicago, IL | $102,026,436 | $14,465,930 |
Lake County Public Library Merrillville, IN | $39,933,908 | $12,781,082 |
Mobius Columbia, MO | $4,062,831 | $7,262,645 |
Community Resource Center Inc Centralia, IL | $6,773,469 | $4,197,743 |
Society Of Ameican Archivists Chicago, IL | $2,453,867 | $2,207,330 |
Building And Construction Resource Center Inc Portage, IN | $5,030,482 | $2,435,257 |
Private Academic Library Network Of Indiana Inc Indianapolis, IN | $7,049,589 | $1,821,764 |
Louisville Free Public Library Foundation Inc Louisville, KY | $20,601,784 | $2,234,605 |
Hoover Presidential Foundation West Branch, IA | $16,155,016 | $4,574,597 |
Hopkinsville Christian County Public Library Hopkinsville, KY | $2,002,090 | $1,316,676 |
Simpson County Library District Franklin, KY | $8,465,490 | $1,064,264 |