Library Legacy Foundation Of The Toledo-Luce County Public Library
- Assets
- $10.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Toledo, OH
- Founding
- 02/1990
- Data as of
- 12/2021
- EIN
- 34-1632308
Organization Overview
Library Legacy Foundation Of The Toledo-Luce County Public Library is located in Toledo, OH. The organization was established in 1990. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Library Legacy Foundation Of The Toledo-Luce County Public Library 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, Library Legacy Foundation Of The Toledo-Luce County Public Library generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $201.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Library Legacy Foundation Of The Toledo-Luce County Public Library has awarded 34 individual grants totaling $2,423,123. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE LIBRARY THROUGH COLLECTION DEVELOPMENT ACTIVITIES TO ADVANCE LITERATURE AND LEARNING, AND SUPPORT OF SPECIAL LIBRARY PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THE LIBRARY THROUGH COLLECTION DEVELOPMENT ACTIVITIES TO ADVANCE LITERATURE AND LEARNING, AND SUPPORT OF SPECIAL LIBRARY PROJECTS.
LIBRARY LITERATI, AN AUXILIARY ORGANIZATION, FURTHERS THE MISSION, VALUES, AND STRATEGIES OF THE FOUNDATION PRIMARILY BY INVOLVING YOUNG BUSINESS AND PROFESSIONAL PERSONS WITHIN THE AGE RANGE OF 20 TO 40 YEARS OF AGE, AND YOUNG FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank D Jacobs President | OfficerTrustee | 1 | $0 |
Kathy Selking Secretary-Tr | OfficerTrustee | 2 | $0 |
Olivia K Summons Vice Preside | OfficerTrustee | 1 | $0 |
Rodney L Eason Jr Director | Trustee | 1 | $0 |
Louise Ehrick Director | Trustee | 1 | $0 |
Karen L Fraker Director | Trustee | 1 | $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 | $1,048,060 |
| Noncash contributions included in lines 1a–1f | $29,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,048,060 |
| Total Program Service Revenue | $0 |
| Investment income | $538,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,527 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,622,979 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,076 |
| 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 | $15,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,556 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,576 |
| Office expenses | $9,945 |
| 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 | $640 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $37,099 |
| Total functional expenses | $201,230 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,191,078 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $9,750 |
| 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 | $29,900 |
| Investments—publicly traded securities | $9,695,041 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,925,769 |
| Accounts payable and accrued expenses | $5,267 |
| 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 | $5,267 |
| Net assets without donor restrictions | $9,052,223 |
| Net assets with donor restrictions | $1,868,279 |
| 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 | $10,925,769 |
Grants Awarded
Over the last fiscal year, Library Legacy Foundation Of The Toledo-Luce County Public Library has awarded $81,794 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
TOLEDO-LUCAS CO LIBRARY PURPOSE: IMAGINATION LIBRARY | $33,431 |
TOLEDO-LUCAS CO LIBRARY PURPOSE: AGENCY FUND | $24,418 |
TOLEDO-LUCAS CO LIBRARY PURPOSE: READING CLUB | $13,500 |
TOLEDO-LUCAS CO LIBRARY PURPOSE: BUILDING FUND | $10,445 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Library Legacy Foundation Of The Toledo-Luce County Public Library has recieved totaling $209,782.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Toledo Toledo, OH PURPOSE: DOLLY PARTON IMAGINATION LIBRARY - LUCAS CO, GENERAL OPERATIONS | $201,686 |
Toledo Community Foundation Toledo, OH PURPOSE: GENERAL SUPPORT, ANNUAL DISTRIBUTION, OPERATING & CAPITAL NEEDS OF THE OREGON BRANCH LIBRARY | $6,888 |
Tarbell Family Foundation Wilmington, DE PURPOSE: LOCAL HISTORY | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $208 |
Endowment Analysis
| Beg. Balance | $6,985,812 |
| Earnings | $763,520 |
| Other Expense | $37,574 |
| Ending Balance | $7,711,758 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Ohio University Foundation Athens, OH | $641,559,157 | $75,179,430 |
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Western Michigan University Foundation Kalamazoo, MI | $431,026,780 | $43,479,998 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Wku Student Life Foundation Inc Bowling Green, KY | $178,491,745 | $30,600,200 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Miami University Foundation Inc Oxford, OH | $724,573,926 | $28,643,439 |
Bowling Green State University Foundation Inc Bowling Green, OH | $269,755,787 | $28,051,237 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
The University Of Toledo Foundation Toledo, OH | $690,162,176 | $41,543,760 |
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |