Library Foundation For Sarasota County Inc
- Assets
- $5.6m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Sarasota, FL
- Founding
- 05/2012
- Data as of
- 12/2021
- EIN
- 45-2585429
Organization Overview
Library Foundation For Sarasota County Inc is located in Sarasota, FL. The organization was established in 2012. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2021, Library Foundation For Sarasota County Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Library Foundation For Sarasota County 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 12/2021, Library Foundation For Sarasota County Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $467.5k during the year ending 12/2021. While expenses have increased by 9.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
SUPPORTING PUBLIC LIBRARIES OF SARASOTA COUNTY TO SECURE THE FUTURE OF THE LIBRARY SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE LIBRARY FOUNDATION FOR SARASOTA COUNTY IS TO SECURE THE FUTURE OF OUR LIBRARIES AS AN INDISPENSABLE COMMUNITY RESOURCE. WE ACCOMPLISH THIS BY RAISING PRIVATE FUNDS TO COMPLEMENT TAX DOLLARS. THESE FUNDS HELP OUR LIBRARIES ACQUIRE NEW TECHNOLOGIES, PRESENT OUTSTANDING PROGRAMS AND PROVIDE UP-TO-DATE RESOURCES. WE HAVE ALSO CREATED AN ENDOWMENT TO ENSURE PRIVATE SUPPORT FOR OUR LIBRARIES IN PERPETUITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kat Hughes Secretary | Officer | 1 | $0 |
Isabel Norton President | Officer | 1 | $0 |
Sarah Karon Vice President | Officer | 1 | $0 |
Constance Davis Treasurer | Officer | 1 | $0 |
Claudia Cardillo Director | Trustee | 1 | $0 |
Terry Brackett Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,080 |
| All other contributions, gifts, grants, and similar amounts not included above | $251,164 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $295,244 |
| Total Program Service Revenue | $0 |
| Investment income | $51,762 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $506,703 |
| Net Income from Fundraising Events | $185,386 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,039,095 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $204,768 |
| 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 | $147,661 |
| 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 | $30,528 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,653 |
| Fees for services: Other | $3,282 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,084 |
| 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 | $795 |
| Insurance | $5,173 |
| All other expenses | $0 |
| Total functional expenses | $467,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,337,103 |
| 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 | $83,107 |
| Net Land, buildings, and equipment | $1,192 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,218,542 |
| Total assets | $5,639,944 |
| Accounts payable and accrued expenses | $2,325 |
| Grants payable | $0 |
| Deferred revenue | $408,989 |
| 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 | $6,396 |
| Total liabilities | $417,710 |
| Net assets without donor restrictions | $2,606,993 |
| Net assets with donor restrictions | $2,615,241 |
| 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 | $5,639,944 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Library Foundation For Sarasota County Inc has recieved totaling $364,327.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: CAPITAL PURCHASES, GENERAL SUPPORT, PROGRAM SUPPORT | $281,986 |
Gulf Coast Community Foundation Inc Venice, FL PURPOSE: EDUCATION | $72,140 |
Community Foundation Trust Of Sarasota County Sarasota, FL PURPOSE: PROGRAM SUPPORT | $10,000 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $201 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Metro Atlanta Collaborative Inc Atlanta, GA | $93,266,962 | $86,228,529 |
Early Learning Coalition Of Pasco And Hernando Counties Inc Spring Hill, FL | $3,978,920 | $41,918,808 |
University System Of Georgia Foundation Inc Atlanta, GA | $572,651,205 | $27,479,908 |
Atlanta Neighborhood Charter School Inc Atlanta, GA | $8,677,734 | $16,201,042 |
Pinellas County Education Foundation Inc Largo, FL | $46,058,719 | $8,082,359 |
Hephzibah Charter Foundation Inc Hephzibah, GA | $10,181,498 | $8,307,126 |
Foundation Properties Inc Columbus, GA | $108,758,689 | $6,742,153 |
Georgia Student Scholarship Organization Sso Inc Cumming, GA | $4,146,288 | $9,720,252 |
Excelsior Academies Inc Miami, FL | $11,544,923 | $8,167,644 |
Brevard Schools Foundation Inc Viera, FL | $7,221,686 | $4,889,607 |
Imagine - South Broward Inc Sunrise, FL | $1,098,870 | $2,986,588 |
Pure Edge Inc Palm Beach, FL | $739,291 | $2,020,460 |