Chicago Public Library Foundation
- Assets
- $39.2m
- Revenue
- $5.6m
- Investments
- $685.0
- Employees
- 13
- Location
- Chicago, IL
- Founding
- 07/1987
- Data as of
- 12/2021
- EIN
- 36-3480353
Organization Overview
Chicago Public Library Foundation is located in Chicago, IL. The organization was established in 1987. As of 12/2021, Chicago Public Library Foundation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago 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, Chicago Public Library Foundation generated $5.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.5%) per year over the past 7 years. 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 CHICAGO PUBLIC LIBRARY FOUNDATION ACCELERATES THE POTENTIAL OF OUR PUBLIC (SEE SCH O) LIBRARY BY INVESTING IN RESOURCES THAT TRANSFORM LIVES AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOO MANY CHICAGO CHILDREN ARE BORN INTO CIRCUMSTANCES THAT LIMIT HOW FAR THEY WILL GO IN LIFE. WHETHER THAT'S THE NEIGHBORHOOD THEY GROW IN, THE SCHOOLS THEY HAVE ACCESS TO, THE RESOURCES THEIR PARENTS HAVEEVEN THE QUALITY OF THE AIROUR CITY HAS LONG BEEN DIVIDED TO THE DETRIMENT OF NOT JUST INDIVIDUALS, BUT OF OUR COLLECTIVE PROSPERITY AS CHICAGOANS. SUPPORT FROM DONORS ENSURES STUDENTS AND THEIR FAMILIES CAN ACCESS FREE HOMEWORK HELP, TOOLS FOR SUPPORTING LANGUAGE AND LITERACY DEVELOPMENT, AND YEAR-ROUND STEAM CONTENT THAT HELP ENSURE ALL OUR CITY'S CHILDREN HAVE THE SUPPORT THEY NEED TO SUCCEED EARLY IN LIFE AND TO KEEP ON SUCCEEDING.
CHICAGO'S WORLD-RENOWNED ARTS AND CULTURE SECTOR FUELS TREMENDOUS CREATIVE, ECONOMIC, AND INNOVATIVE GROWTH. BUT ACCESS TO BIG IDEAS AND TOP TALENT IS OFTEN FAR OUT OF REACH FOR LOWER-INCOME MEMBERS OF OUR COMMUNITY. AS A RESULT, MANY CHICAGOANS ARE SHUT OUT FROM THE MARKETPLACE OF CREATIVITY AND THE HOLISTIC BENEFITS OF THE ARTS. OUR CITY, IN TURN, MISSES OUT ON OPPORTUNITIES TO BE ELEVATED AND ENRICHED BY THE INCLUSION OF DIVERSE NEW VOICES AND VIEWPOINTS. DONORS ACTIVATE EVERYTHING FROM MAKER SPACES TO SPECIAL COLLECTIONS PROJECTS TO DISCUSSIONS WITH THE MOST THOUGHT-PROVOKING AUTHORS OF OUR TIME. THESE OFFERINGS INVITE ALL CHICAGOANS TO EXPLORE NEW WAYS OF EXPRESSING THEMSELVES AND IMAGINING NEW POSSIBILITIES NOT ONLY FOR THEIR OWN LIVES, BUT ALSO FOR OUR CITY AND THE WORLD.
ACCORDING TO THE PEW RESEARCH CENTER, MORE THAN 40% OF LOWER-INCOME HOUSEHOLDS DON'T HAVE HOME BROADBAND SERVICES OR A TRADITIONAL COMPUTER. MANY OF THESE ADULTS AND OLDER ADULTS ALSO LACK THE SKILLS THEY NEED TO NAVIGATE OUR INCREASINGLY DIGITAL WORLD EFFECTIVELY AND SAFELY. WITHOUT THIS CRUCIAL KNOW-HOW, THOUSANDS OF CHICAGOANS ARE BLOCKED FROM ONLINE OPPORTUNITIES TO APPLY FOR JOBS, FIND EDUCATION AND HEALTH RESOURCES, PARTICIPATE IN CIVIC LIFE, AND CONNECT WITH LOVED ONES. OUR DIGITAL LITERACY AND LEARNING PROGRAMS REMOVE BARRIERS THROUGH CURATED RESOURCES, SKILLS-BUILDING SUPPORT, AND USER-FRIENDLY CHICAGO DIGITALLEARN MODULES ACCESSIBLE FROM ANY COMPUTER. TOGETHER, WE TRANSFORM LIVES THROUGH TECHNOLOGY.
GENERAL PROGRAMMING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Langstraat Bui President | OfficerTrustee | 40 | $210,000 |
Trisha Rooney Vice Chair | OfficerTrustee | 1 | $0 |
Cindy Pritzker Chairman Emeritus | OfficerTrustee | 1 | $0 |
Bruce Sagan Secretary | OfficerTrustee | 1 | $0 |
Robert A Wislow Chairman | OfficerTrustee | 5 | $0 |
David R Casper Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,424,932 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,244,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,668,975 |
| Total Program Service Revenue | $0 |
| Investment income | $605,314 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,555,120 |
| Net Income from Fundraising Events | -$228,186 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,601,419 |
| 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. | $252,931 |
| Compensation of current officers, directors, key employees. | $126,882 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $728,651 |
| Pension plan accruals and contributions | $70,840 |
| Other employee benefits | $69,179 |
| Payroll taxes | $56,446 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,655 |
| Fees for services: Accounting | $46,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $302,775 |
| Advertising and promotion | $196,406 |
| Office expenses | $26,129 |
| Information technology | $198,340 |
| Royalties | $0 |
| Occupancy | $122,590 |
| Travel | $59,798 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,535 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,429 |
| All other expenses | $147,950 |
| Total functional expenses | $3,367,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,150,449 |
| Savings and temporary cash investments | $93,024 |
| Pledges and grants receivable | $444,070 |
| Accounts receivable, net | $130,283 |
| 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 | $37,890 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $33,305,372 |
| Investments—other securities | $685 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,161,773 |
| Accounts payable and accrued expenses | $190,238 |
| 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 | $190,238 |
| Net assets without donor restrictions | $17,717,319 |
| Net assets with donor restrictions | $21,254,216 |
| 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 | $39,161,773 |
Grants Recieved
Over the last fiscal year, we have identified 45 grants that Chicago Public Library Foundation has recieved totaling $556,086.
| Awarding Organization | Amount |
|---|---|
Cme Group Foundation Chicago, IL PURPOSE: CLOSING CHICAGOS OPPORTUNITY GAP: THE 2020-2025 EARLY CHILDHOOD LEARNING INITIATIVE AT CHICAGO PUBLIC LIBRARY | $100,000 |
Circle Of Service Foundation Chicago, IL PURPOSE: MATCHING/DISCRETIONARY | $50,000 |
Helen M Harrison Foundation Inc Chicago, IL PURPOSE: UNRESTRICTED GENERAL FUND | $50,000 |
Bluhm Family Charitable Foundation Chicago, IL PURPOSE: EXEMPT PURPOSE OF ORGANIZATION | $50,000 |
The Brinson Foundation Chicago, IL PURPOSE: EARLY LITERACY TRAINING FOR CHILDREN'S LIBRARY STAFF ANDPDTA | $28,000 |
United Way Of Metropolitan Chicago Inc Chicago, IL PURPOSE: PROGRAM SUPPORT | $25,000 |
Endowment Analysis
| Beg. Balance | $17,902,503 |
| Earnings | $3,860,291 |
| Other Expense | $1,232,161 |
| Ending Balance | $20,530,633 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Danville Library Inc Danville, KY | $6,580,525 | $1,263,979 |
Willard Library Of Evansville Evansville, IN | $2,845,085 | $1,302,512 |
Lexington Public Library Foundation Lexington, KY | $804,427 | $226,813 |
Kansas City Metropolitan Library & Information Network Independence, MO | $752,486 | $765,658 |
Mabel Tainter Literary Library & Educational Society Menomonie, WI | $4,637,206 | $653,036 |
Ligonier Public Library Ligonier, IN | $2,052,265 | $370,383 |
Taneyhills Library Club Branson, MO | $1,981,166 | $371,831 |
Southeastern Wisconsin Information Technology Exchange Inc Milwaukee, WI | $184,005 | $425,122 |
Butler County Library Board Morgantown, KY | $1,411,035 | $638,061 |