Galesburg Public Library Foundation
- Assets
- $3.7m
- Revenue
- $857.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Galesburg, IL
- Founding
- 01/2009
- Data as of
- 12/2023
- 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. 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 12/2023, Galesburg Public Library Foundation generated $857.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $833.3k during the year ending 12/2023. 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
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 RESOURCED 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 |
|---|---|---|---|
Heather Sipes Executive Director | Officer | 0 | $21,481 |
Sue Lyon Trustee | Trustee | 0 | $0 |
Leann Morgan Trustee | Trustee | 0 | $0 |
Mark Stegall Trustee | Trustee | 0 | $0 |
Kirk Watson Trustee | Trustee | 0 | $0 |
Naomi Law Trustee | Trustee | 0 | $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 | $737,747 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $737,747 |
| Total Program Service Revenue | $0 |
| Investment income | $102,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,798 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $857,296 |
| 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. | $21,481 |
| Compensation of current officers, directors, key employees. | $21,481 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $719 |
| Payroll taxes | $1,796 |
| 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 | $14,032 |
| Fees for services: Other | $18,922 |
| Advertising and promotion | $7,011 |
| Office expenses | $2,650 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $101 |
| Travel | $1,135 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $347 |
| Interest | $404 |
| Payments to affiliates | $750,007 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $7,832 |
| Total functional expenses | $833,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $501,396 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,060 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,407 |
| Investments—publicly traded securities | $2,201,794 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,682 |
| Total assets | $3,722,339 |
| Accounts payable and accrued expenses | $2,227 |
| 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 | $2,227 |
| Net assets without donor restrictions | $2,686,152 |
| Net assets with donor restrictions | $1,033,960 |
| 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 | $3,722,339 |