Friends Of The Library Virginia Beach Inc
- Assets
- $342.2k
- Revenue
- $71.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 10/1987
- Data as of
- 03/2022
- EIN
- 54-1064465
Organization Overview
Friends Of The Library Virginia Beach Inc is located in Virginia Beach, VA. The organization was established in 1987. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Library Virginia Beach 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 03/2022, Friends Of The Library Virginia Beach Inc generated $71.6k 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 (9.8%) each year. All expenses for the organization totaled $38.1k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (15.6%) per year over the past 7 years. 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 PROMOTE THE MISSION AND SERVICES OF THE VIRGINIA BEACH PUBLIC LIBRARY THROUGH ADVOCACY AND PROGRAMMING SUPPORT, AND TO PROMOTE SIMILAR RELATED ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER READING PROGRAM IS AN ANNUAL EVENT OF THE CITY OF VIRGINIA BEACH PUBLIC LIBRARY SYSTEM. THE FRIENDS PROVIDE FUNDING FOR THE PROGRAM. THE PROGRAM IS DESIGNED TO PREVENT SUMMER LEARNING LOSS, WHICH IS CUMULATIVE AND CONTRIBUTES TO THE ACHIEVEMENT GAP BETWEEN AT-RISK AND HIGHER INCOME FAMILIES. PROGRAMS ARE AVAILABLE FOR LIBRARY PATRONS OF ALL AGES, BUT THE PRIMARY FOCUS IS ON CHILDREN. IN THE SUMMER OF 2021, 6,481 INDIVIDUALS COMPLETED THE SUMMER READING CHALLENGE.
FUNDING AND SUPPORT FOR VARIOUS PROGRAMS OF THE VIRGINIA BEACH PUBLIC LIBRARY SYSTEM INCLUDING ADULT PROGRAM SUPPORT, AND PROVIDING BOOKS AND PROGRAM MATERIALS, ADVERTISING & MARKETING OF LIBRARY PROGRAMS, SERVICE AWARDS, VOLUNTEER RECOGNITION, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vicki Devine Secretary | OfficerTrustee | $0 | |
Judith Burr President | OfficerTrustee | $0 | |
Pam Levinson Treasurer | OfficerTrustee | $0 | |
Anne T Jordan Asst. Treasu | OfficerTrustee | $0 | |
Nancy Parker Vice Preside | OfficerTrustee | $0 | |
Cheryl Gayton Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,916 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $517 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,433 |
| Total Program Service Revenue | $0 |
| Investment income | $11,567 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $54,626 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,626 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,260 |
| 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 | $900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,895 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $633 |
| 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 | $0 |
| Total functional expenses | $38,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240 |
| Savings and temporary cash investments | $73,816 |
| 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 | $268,119 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $342,175 |
| 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 | $342,175 |
| Net assets with donor restrictions | $0 |
| 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 | $342,175 |
Grants Awarded
Over the last fiscal year, Friends Of The Library Virginia Beach Inc has awarded $44,600 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF VIRGINIA BEACH (LIBRARIES) PURPOSE: YOUTH & FAMILY SVCS. | $13,511 |
CITY OF VIRGINIA BEACH (LIBRARIES) PURPOSE: YOUTH & FAMILY SVCS. | $13,511 |
CITY OF VIRGINIA BEACH (LIBRARIES) PURPOSE: SUMMER READING PROG. | $8,789 |
CITY OF VIRGINIA BEACH (LIBRARIES) PURPOSE: SUMMER READING PROG. | $8,789 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Friends Of The Library Virginia Beach Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Queen Annes County Free Library Centreville, MD | $3,534,978 | $5,055,509 |
Eastern Shore Regional Library Inc Salisbury, MD | $2,252,181 | $3,366,767 |
Northwestern Regional Library Elkin, NC | $2,333,593 | $2,751,748 |
Rockingham Library Association Harrisonburg, VA | $9,275,406 | $2,755,751 |
Johnson City Public Library Johnson City, TN | $2,269,696 | $2,425,366 |
Allegany County Library Cumberland, MD | $9,347,063 | $4,796,279 |
Danville Library Inc Danville, KY | $6,580,525 | $1,263,979 |
Talbot County Free Library Association Incorporated Easton, MD | $994,962 | $2,019,680 |
Public Library Of Johnston County And Smithfield Smithfield, NC | $1,928,759 | $1,465,964 |
Samuels Library Inc Front Royal, VA | $1,258,942 | $1,396,617 |
Smyth County Public Library Marion, VA | $606,051 | $1,163,430 |
Lexington Public Library Foundation Lexington, KY | $804,427 | $226,813 |