Library Of Michigan Foundation
- Assets
- $2.2m
- Revenue
- $203.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Lansing, MI
- Founding
- 10/1985
- Data as of
- 09/2023
- EIN
- 38-2611742
Organization Overview
Library Of Michigan Foundation is located in Lansing, MI. The organization was established in 1985. According to its NTEE Classification (B80) the organization is classified as: Student Services, 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 Of Michigan 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 09/2023, Library Of Michigan Foundation generated $203.5k 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 (9.8%) each year. All expenses for the organization totaled $314.2k during the year ending 09/2023. 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 SUPPORT SPECIAL LIBRARY PROGRAMS AND SERVICES TO THE STATE OF MICHIGAN AND ITS RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MICHIGAN NOTABLE BOOKSTHE MICHIGAN NOTABLE BOOKS PROGRAM PROMOTES THE WORK OF MICHIGAN BOOKS AND AUTHORS. EVERY YEAR THE LIBRARY OF MICHIGAN SELECTS TWENTY OUTSTANDING FICTION AND NON-FICTION TITLES ABOUT MICHIGAN. THE PROGRAM INCLUDES A TOUR OF LIBRARIES BY THE MICHIGAN NOTABLE AUTHORS WHO VISIT COMMUNITIES ACROSS THE STATE, ENGAGING RESIDENTS IN READINGS, LEARNING AND DIALOGUE. THE MICHIGAN NOTABLE BOOKS PROGRAM BROADENS PEOPLE'S UNDERSTANDING OF MICHIGAN'S HISTORY AND CULTURE AND RAISES AWARENESS ABOUT THE EVENTS AND IDEAS THAT HELPED SHAPE MICHIGAN AS WE KNOW IT TODAY.
STATE LIBRARIAN'S INNOVATION FUNDTHE STATE LIBRARIAN'S INNOVATION FUND PROVIDES FUNDING OF INNOVATION PROJECTS AND LEADERSHIP DEVELOPMENT OPPORTUNITIES WITHIN THE LIBRARY OF MICHIGAN AND THROUGHOUT THE MICHIGAN LIBRARY COMMUNITY. THIS FUND WILL ENABLE THE STATE LIBRARY TO EXPAND ITS ROLE IN ENCOURAGING EXPERIMENTATION AND INNOVATION IN LIBRARY TECHNOLOGIES AND SERVICES AND ENHANCING EXCELLENCE IN LIBRARY LEADERSHIP.THE MICHIGAN LIBRARY LEADERS PROGRAMTHE MICHIGAN LIBRARY LEADERS PROGRAM IS A RECOGNITION PACKAGE ESTABLISHED TO HONOR INDIVIDUALS AND ORGANIZATIONS THAT PROVIDE A DEFINED LEVEL OF UNRESTRICTED FINANCIAL SUPPORT TO THE LIBRARY OF MICHIGAN FOUNDATION OVER A ONE-YEAR PERIOD WITH A MULTI-YEAR COMMITMENT.
BRAILLE AND TALKING BOOK LIBRARY (BTBL) (ANNA BREWER HOWELL FUND)THIS EXTRAORDINARY MICHIGAN BUREAU OF SERVICES FOR BLIND PERSONS PROGRAM SERVES INDIVIDUALS WHO ARE BLIND, VISUALLY IMPAIRED OR ARE PHYSICALLY UNABLE TO HOLD A BOOK OR TURN PAGES. BTBL PROVIDES FULL LIBRARY SERVICE TO ITS USERS BY MAILING BRAILLE BOOKS, TALKING BOOKS (ON DIGITAL CARTRIDGE) AND DESCRIBED VIDEOS. IT ALSO TEACHES PATRONS ABOUT ADAPTIVE TECHNOLOGY. MORE THAN 1,200 REQUESTS ARE FILLED PER DAY. BTBL CUSTOMERS PARTICIPATE IN THIS LENDING PROGRAM AT ABSOLUTELY NO COST TO THEM, WITH MATERIALS MAILED DIRECTLY TO THEIR HOMES. THE BTBL COLLECTION INCLUDES MORE THAN 12,271 DIGITAL TITLES, 10,615 BRAILLE TITLES AND 650 DESCRIBED VIDEOS. EVENTUALLY THE CIRCULATION OF CASSETTE BOOKS WILL CEASE AND ALL TALKING BOOKS WILL BE PROVIDED IN DIGITAL FORMAT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Headley Executive Director/chief Development Officer | Officer | 40 | $106,505 |
Roger Mendel Director | Trustee | 1 | $0 |
Mary Hays Director (ended 01/23) | Trustee | 1 | $0 |
Timothy Fusco Director | Trustee | 1 | $0 |
Elaine Didier Director | Trustee | 1 | $0 |
Lisa Farnum 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 | $118,260 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $118,260 |
| Total Program Service Revenue | $0 |
| Investment income | $53,681 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $31,542 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $203,483 |
| 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. | $106,505 |
| Compensation of current officers, directors, key employees. | $106,505 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,990 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,708 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,070 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,003 |
| Fees for services: Other | $3,898 |
| Advertising and promotion | $1,000 |
| Office expenses | $3,584 |
| Information technology | $4,332 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,088 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $760 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,559 |
| All other expenses | $0 |
| Total functional expenses | $314,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,707 |
| Savings and temporary cash investments | $98,445 |
| 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 | $1,283 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,088,502 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,410 |
| Total assets | $2,233,347 |
| Accounts payable and accrued expenses | $4,962 |
| 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 | $4,962 |
| Net assets without donor restrictions | $479,455 |
| Net assets with donor restrictions | $1,748,930 |
| 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 | $2,233,347 |