Aberdeen Library Foundation
- Assets
- $501.4k
- Revenue
- $37.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Aberdeen, SD
- Founding
- 01/1995
- Data as of
- 12/2021
- EIN
- 46-0428183
Organization Overview
Aberdeen Library Foundation is located in Aberdeen, SD. The organization was established in 1995. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aberdeen 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, Aberdeen Library Foundation generated $37.6k 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 (11.4%) each year. All expenses for the organization totaled $340.8k during the year ending 12/2021. 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
PROMOTION OF AND THE CONTINUED GROWTH AND DEVELOPMENT OF THE LIBRARY. ENSURING THE LIBRARY CAN CONTINUE TO PROVIDE LITERARY SERVICES AND RESOURCES TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ON AN ANNUAL BASIS THE LIBRARY FOUNDATION APPLIES FOR TECHNOLOGY GRANT FROM 3M TO BE USED FOR THE CHILDREN'S PROGRAMS TO PROMOTE TECHNOLOGY AND SCIENCE. THE LIBRARY DIRECTOR PROVIDES A LIST OF EDUCATIONAL MATERIALS TO THE FOUNDATION FOR PURCHASING TO PROMOTE CREATIVE THINKING FOR THE YOUNG CHILDREN'S PROGRAM.
IN 2016 THE FOUNDATION STARTED A CAMPAIGN TO RAISE 2.1 MILLION TO BE USED TOWARD THE BUILDING OF A NEW LIBRARY BUILDING. FUNDRAISING WAS WRAPPED UP IN 2017. THE FOUNDATION IS NOW CURRENTLY MAKING ANNUAL CONTRIBUTIONS TO THE CITY OF ABERDEEN WHO OWNS THE LIBRARY.
IN 2021 THE FOUNDATION FUNDED THE STREAMING SERVICES THAT THE LIBRARY STARTED DUE TO COVID 19 SO THEY COULD CONTINUE TO PROVIDE FREE SERVICES TO THE PATRONS OF THE LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Krause President | Officer | 0.5 | $0 |
Patrick Gallagher Vice President | Officer | 0.25 | $0 |
Lavonne Miller Treasurer | Officer | 0.5 | $0 |
Jessica Faulken Secretary | Officer | 0.25 | $0 |
Teresa Levsen-Garofalo Board Member | Trustee | 0.25 | $0 |
Heidi Golz Board Member | Trustee | 0.1 | $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 | $15,749 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,749 |
| Total Program Service Revenue | $0 |
| Investment income | $18,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,248 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,595 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $319,100 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,818 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,500 |
| Office expenses | $229 |
| Information technology | $6,447 |
| 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 | $318 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $699 |
| All other expenses | $2,677 |
| Total functional expenses | $340,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,374 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $20,000 |
| 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 | $455 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $412,599 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $501,428 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $460,412 |
| Net assets with donor restrictions | $41,016 |
| 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 | $501,428 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Aberdeen Library Foundation has recieved totaling $40,015.
| Awarding Organization | Amount |
|---|---|
Avera Health Sioux Falls, SD PURPOSE: Sponsorship | $30,000 |
Sanford Sioux Falls, SD PURPOSE: General Support | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $15 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southeastern Libraries Cooperating Rochester, MN | $3,251,693 | $3,092,021 |
Aberdeen Library Foundation Aberdeen, SD | $501,428 | $37,595 |
Laramie County Library Foundation Inc Cheyenne, WY | $2,524,309 | $669,775 |
Albany County Public Library Foundation Laramie, WY | $2,550,288 | $353,735 |
Central Plains Library System Hastings, NE | $112,400 | $0 |
Southeast Library System Sels Rochester, MN | $116,730 | $0 |
Perry Public Library Foundation Inc Perry, IA | $970,636 | $18,855 |
Bigfork Development Company Bigfork, MT | $680,437 | $166,280 |
Friends Of The Burlington Public Library Foundation Burlington, IA | $6,195,791 | $439,298 |
Western Library System Scottsbluff, NE | $166,833 | $0 |
Quatrefoil Library Minneapolis, MN | $703,417 | $108,955 |
Beatrice Public Library Fdn Inc Beatrice, NE | $2,051,690 | $96,617 |