Transylvania County Library Foundation
- Assets
- $5.2m
- Revenue
- $84.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Brevard, NC
- Founding
- 11/1945
- Data as of
- 06/2024
- EIN
- 56-6011584
Organization Overview
Transylvania County Library Foundation is located in Brevard, NC. The organization was established in 1945. According to its NTEE Classification (B70) the organization is classified as: Libraries, 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. Transylvania County 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 06/2024, Transylvania County Library Foundation generated $84.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $180.0k during the year ending 06/2024. While expenses have increased by 8.1% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO OBTAIN AND MANAGE FUNDS AND MEMORIALS AND TO RECEIVE GIFTS, GRANTS AND BEQUESTS FOR THE USE OF THE TRANSYLVANIA COUNTY LIBRARY; TO PROMOTE AND SUPPORT LIBRARY SERVICES IN TRANSYLVANIA COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOOKING GLASS ROCK WRITERS CONFERENCE IS A PARTNERSHIP BETWEEN THE TRANSYLVANIA COUNTY LIBRARY FOUNDATION AND BREVARD COLLEGE TO ENCOURAGE ALL GENRES OF CREATIVE WRITING AROUND A COMMON THEME OF A SENSE OF PLACE THROUGH READINGS, WORKSHOPS AND HANDS- ON ENGAGEMENT WITH WRITERS OF REGIONAL AND NATIONAL RENOWN. THE CONFERENCE SERVES AS A CATALYST FOR FURTHER RECOGNITION OF TRANSYLVANIA COUNTY AS A DISTINGUISHED COMMUNITY RICH IN CULTURE AND LEARNING OPPORTUNITIES FOR PEOPLE OF ALL AGES.
J.R. MCDOWELL SPEAKER SERIES: THE SERIES IS DESIGNED TO PRESENT A WIDE ARRAY OF VIEWPOINTS ON CHALLENGING AND THOUGHT-PROVOKING TOPICS AND TO BRING RENOWNED SPEAKERS TO OUR COMMUNITY. IN SEPTEMBER 2023, THE FOUNDATION PRESENTED A TALK BY HISTORIAL ANNETTE GORDEN REED, AND IN APRIL 2024, PRESENTED A TALK BY THE SCIENTIST AND WRITER DREW LANHAM. IN ADDITION TO THE PUBLIC EVENT, MCDOWELL SPEAKERS MEET WITH LOCAL STUDENTS.
LIBRARY SUPPORT: THE TRANSYLVANIA COUNTY LIBRARY FOUNDATION PROVIDED FUNDING TO ENHANCE THE SERVICES AND SPACES OFFERED BY THE TRANSYLVANIA COUNTY LIBRARY. THIS ALLOWED THE LIBRARYS SERVICES FOR THE PUBLIC TO SURPASS WHAT WOULD BE POSSIBLE WITH THE LIBRARYS REGULAR OPERATIONAL BUDGET. EXAMPLES OF LIBRARY OFFERINGS MADE POSSIBLE BY THE LIBRARY FOUNDATIONS FINANCIAL SUPPORT INCLUDE ACCESS TO THE STREAMING KANOPY VIDEO DATABASE, ARCHIVAL PRESERVATION OF LOCAL HISTORY MATERIALS, CHILDRENS BOOKS GIVEN OUT AT A SCHOOL READINESS EVENT, AND NEW OUTDOOR SEATING ON THE LIBRARYS PATIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Watkins Board Chair | OfficerTrustee | 4 | $0 |
John Welch Vice-Chair | OfficerTrustee | 2 | $0 |
Larry Sitton Treasurer | OfficerTrustee | 4 | $0 |
Rishara Finsel Secretary | OfficerTrustee | 4 | $0 |
Hannah Camenzind Board Member | Trustee | 1 | $0 |
Morris Jenkins Board Member | Trustee | 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 | $11,607 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,607 |
| Total Program Service Revenue | $0 |
| Investment income | $112,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$39,147 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $84,913 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,023 |
| 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 | $6,138 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,806 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,506 |
| Information technology | $1,832 |
| 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 | $1,951 |
| All other expenses | $7,342 |
| Total functional expenses | $180,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,691 |
| 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 | $5,225,975 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,243,666 |
| 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 | $357,981 |
| Total liabilities | $357,981 |
| Net assets without donor restrictions | $4,885,685 |
| 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 | $5,243,666 |
Grants Awarded
Over the last fiscal year, Transylvania County Library Foundation has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SMART START OF TRANSYLVANIA CTY PURPOSE: Get Set Transylvania Early childhood initiative | $10,000 |
BREVARD MUSCK CENTER PURPOSE: Sponsor-outdoor movie series | $10,000 |