South Central Library System Foundation Inc
- Assets
- $5.2m
- Revenue
- $4.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 06/2006
- Data as of
- 12/2022
- EIN
- 39-2020856
Organization Overview
South Central Library System Foundation Inc is located in Madison, WI. The organization was established in 2006. 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. South Central Library System Foundation Inc 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, South Central Library System Foundation Inc generated $4.6k 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 (23.7%) each year. All expenses for the organization totaled $45.6k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP PUBLIC LIBRARY SERVICES WITHIN THE SOUTH CENTRAL LIBRARY SYSTEM AND THE MAKING OF DISTRIBUTIONS TO LOCAL GOVERNMENT MEMBERS OF THE SOUTH CENTRAL LIBRARY SYSTEM THAT ARE ENGAGED IN ACTIVITIES THAT FURTHER SUCH PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH THE CAMPAIGN TO ENHANCE PUBLIC LIBRARIES, THE SOUTH CENTRAL LIBRARY SYSTEM FOUNDATION IS RAISING PRIVATE FUNDS THAT WILL ENHANCE PUBLIC LIBRARIES THROUGHOUT OUR SOUTH CENTRAL LIBRARY SYSTEM COMMUNITY TO EXPAND THEIR EXCELLENT SERVICES IN EACH OF THE FOLLOWING AREAS: CHILDREN'S SERVICES -- EXPAND CHILDREN'S COLLECTIONS, SERVICES, AND READING PROGRAMS; COLLECTION DEVELOPMENT -- ENRICH THE NUMBER OF LIBRARY HOLDINGS IN SUBJECT RANGE AND DEPTH; LIBRARIES OF THE FUTURE -- ENSURE THAT ALL MEMBERS OF OUR LIBRARY COMMUNITY SHARE STATE-OF-THE-ART TECHNOLOGY AND PROVIDE A WELCOMING COMMUNITY-CENTERED ENVIRONMENT IN WHICH IT CAN BE USED; LIFELONG LEARNING -- ENHANCE TRAINING AND EDUCATIONAL PROGRAMMING AT ALL LIBRARIES IN THE SYSTEM; AND LITERACY -- ENHANCE LIBRARY PROGRAMMING IN LANGUAGE AND READING, SOCIETAL, AND TECHNOLOGY SKILLS TRAINING. DURING THE YEAR, THE SOUTH CENTRAL LIBRARY SYSTEM FOUNDATION AWARDED $37,154 TO THE SOUTH CENTRAL LIBRARY SYSTEM TO PURCHASE THE FOLLOWING ITEMS TO OUTFIT A NEW MEETING ROOM AND PROFESSIONAL COLLECTION SPACE: AUDIO VISUAL EQUIPMENT, TABLES, CHAIRS AND LOUNGE FURNITURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Van Pelt Secretary | OfficerTrustee | 0.5 | $0 |
Theresa Walske President | OfficerTrustee | 0.5 | $0 |
Peter Kaland Vice President | OfficerTrustee | 0.5 | $0 |
Mike Furgal Treasurer | OfficerTrustee | 0.5 | $0 |
Janet Pugh Director | Trustee | 0.5 | $0 |
Kristi Williams Director | Trustee | 0.5 | $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 | $13,865 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,865 |
| Total Program Service Revenue | $0 |
| Investment income | $5,723 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,001 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,587 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,654 |
| 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 | $4,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,327 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,949 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $56 |
| Total functional expenses | $45,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,621 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,151,603 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,154,224 |
| Accounts payable and accrued expenses | $61,619 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,878,468 |
| 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 | $4,940,087 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $214,137 |
| 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 | $5,154,224 |