Rapid City Library Foundation Inc
- Assets
- $1.4m
- Revenue
- $131.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Rapid City, SD
- Founding
- 09/1996
- Data as of
- 12/2021
- EIN
- 46-0442680
Organization Overview
Rapid City Library Foundation Inc is located in Rapid City, SD. The organization was established in 1996. 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. Rapid City Library 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 12/2021, Rapid City Library Foundation Inc generated $131.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $27.3k 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 THE CONTINUED GROWTH AND DEVELOPMENT OF THE PUBLIC LIBRARY IN RAPID CITY, SD, ITS GENERAL WELFARE, AND PUBLIC RELATIONS, AS WELL AS INCREASING THE SIZE AND NUMBER OF HOLDINGS OF LIBRARY MATERIALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HAS MAINTAINS LOCAL HISTORY ROOM THAT HOUSES HISTORICAL DOCUMENTS IN A CLIMATE CONTROLLED SPACE, CREATING A NEW COMMUNITY SPACE OFFERING RESOURCES TO ENHANCE LEARNING THROUGH SCIENCE, AND A "BOOKS FOR BABIES" PROGRAM THAT PROVIDES NEW PARENTS A LIBRARY GIFT PACK THAT PROMOTES EARLY LITERACY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Hasvold President | OfficerTrustee | $0 | |
Tyler Wetering Vice-Preside | OfficerTrustee | $0 | |
John Hill Treasurer | OfficerTrustee | $0 | |
Karabeth Borresen Director | Trustee | $0 | |
Ruth Brennan Director | Trustee | $0 | |
Marty Garwood Director | Trustee | $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 | $87,593 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $87,593 |
| Total Program Service Revenue | $0 |
| Investment income | $24,243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,359 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $131,195 |
| 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. | $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 | $2,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,628 |
| Fees for services: Other | $0 |
| Advertising and promotion | $405 |
| Office expenses | $793 |
| Information technology | $2,038 |
| 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 | $237 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $813 |
| All other expenses | $5,639 |
| Total functional expenses | $27,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,373 |
| 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 | $1,193,633 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,377,006 |
| 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 | $183,373 |
| Net assets with donor restrictions | $1,193,633 |
| 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 | $1,377,006 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rapid City Library Foundation Inc has recieved totaling $95,847.
| Awarding Organization | Amount |
|---|---|
Black Hills Area Community Foundation Rapid City, SD PURPOSE: EDUCATION | $95,648 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $199 |
Endowment Analysis
| Beg. Balance | $1,113,228 |
| Earnings | $155,681 |
| Admin Expense | $14,628 |
| Other Expense | $60,648 |
| Ending Balance | $1,193,633 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |
Casper College Foundation Casper, WY | $118,882,238 | $11,522,950 |
Foundation Of Montana State University-Billings Billings, MT | $43,347,395 | $13,750,019 |
Iowa State University Research Park Corp Ames, IA | $68,199,725 | $11,124,615 |
Minnesota State University Mankato Foundation Incorporated Mankato, MN | $77,015,205 | $9,285,148 |
University Gateway Corporation Minneapolis, MN | $78,655,248 | $6,023,242 |
Nebraska Defense Research Corporation Lincoln, NE | $12,097,402 | $14,649,208 |
Iowa High School Athleticassociation Boone, IA | $17,327,220 | $5,760,245 |
St Cloud State University Foundation Inc St Cloud, MN | $54,919,652 | $10,818,973 |
Hmong Education Reform Company St Paul, MN | $74,819,992 | $9,901,803 |
Isu Veterinary Services Corporation Des Moines, IA | $3,723,871 | $7,166,183 |
University Of Minnesota Foundation Investment Advisors Minneapolis, MN | $2,748,098 | $5,244,210 |