Library Legacy Foundation Of The Toledo-Luce County Public Library
- Assets
- $9.2m
- Revenue
- $229.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Toledo, OH
- Founding
- 02/1990
- Data as of
- 12/2022
- 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 12/2022, Library Legacy Foundation Of The Toledo-Luce County Public Library generated $229.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (16.6%) each year. All expenses for the organization totaled $726.4k during the year ending 12/2022. 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 39 individual grants totaling $2,955,676. 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
2022
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank D Jacobs President | OfficerTrustee | 1 | $0 |
Olivia K Summons Vice Preside | OfficerTrustee | 1 | $0 |
Kathy Selking Secretary-Tr | OfficerTrustee | 2 | $0 |
Louise Ehrick Director | Trustee | 1 | $0 |
Paula Fall 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 | $1,007,470 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,007,470 |
| Total Program Service Revenue | $0 |
| Investment income | $206,466 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$984,143 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $229,793 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $556,300 |
| 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 | $14,278 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,049 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,790 |
| Office expenses | $4,514 |
| 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 | $2,463 |
| All other expenses | $96,021 |
| Total functional expenses | $726,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,031,442 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,250 |
| 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 | $8,089,741 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,159,333 |
| Accounts payable and accrued expenses | $3,729 |
| 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 | $16,097 |
| Total liabilities | $19,826 |
| Net assets without donor restrictions | $7,429,426 |
| Net assets with donor restrictions | $1,710,081 |
| 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 | $9,159,333 |
Grants Awarded
Over the last fiscal year, Library Legacy Foundation Of The Toledo-Luce County Public Library has awarded $532,553 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
TOLEDO-LUCAS CO LIBRARY PURPOSE: BUILDING FUND | $322,515 |
TOLEDO-LUCAS CO LIBRARY PURPOSE: AGENCY FUND | $17,676 |
TOLEDO-LUCAS CO LIBRARY PURPOSE: DIGITAL EQUITY GAP | $19,885 |
TOLEDO-LUCAS CO LIBRARY PURPOSE: IMAGINATION LIBRARY | $161,877 |
TOLEDO-LUCAS CO LIBRARY PURPOSE: EARLY LITERACY FUND | $10,600 |