Transylvania County Library Foundation
- Assets
- $3.9m
- Revenue
- $190.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Brevard, NC
- Founding
- 11/1945
- Data as of
- 06/2022
- 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 06/2022, Transylvania County Library Foundation generated $190.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $155.6k during the year ending 06/2022. While expenses have increased by 8.3% 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
2022
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.
COMMUNITY AWARENESS: THE TRANSYLVANIA COUNTY LIBRARY FOUNDATION SUPPORTED AN UPDATED BRAND AND MARKETING CAMPAIGN FOR THE TRANSYLVANIA COUNTY LIBRARY. WITH FOUNDATION FUNDING, THE LIBRARY DEVELOPED AN UPDATED BRAND STORY THAT CONVEYS WHAT A MODERN LIBRARY IS - IN AN AUTHENTIC AND MEANINGFUL MANNER - TO EFFECTIVELY DEMONSTRATE THE LIBRARY'S VALUE TO TRANSYLVANIA COUNTY.
EXPANDING DIGITAL ACCESS: THE TRANSYLVANIA COUNTY LIBRARY FOUNDATION SUPPORTED EXPANDED ACCESS TO DIGITAL RESOURCES BY FUNDING THE LIBRARY'S SUBSCRIPTION TO KANOPY, PROVIDING ONLINE FILMS AND DOCUMENTARIES. THIS WAS OF PARTICULAR BENEFIT DURING THE PANDEMIC, AS IT PROVIDED A SAFE MEANS OF ACCESSING EDUCATIONAL AND RECREATIONAL LIBRARY RESOURCES FROM HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Watkins Board Chair | OfficerTrustee | 4 | $0 |
Mac Morrow Vice-Chair | OfficerTrustee | 2 | $0 |
Rishara Finsel Secretary | OfficerTrustee | 4 | $0 |
Mark S Lemel Treasurer | OfficerTrustee | 4 | $0 |
Andrew Voncanon Board Member | Trustee | 1 | $0 |
Teresa Trusler 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 | $15,797 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,797 |
| Total Program Service Revenue | $0 |
| Investment income | $85,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $72,122 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $189,992 |
| 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 | $4,658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,147 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $221 |
| Information technology | $2,911 |
| 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 | $1,922 |
| All other expenses | $9,929 |
| Total functional expenses | $155,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,307 |
| 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 | $3,819,053 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,868,360 |
| 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 | $248,270 |
| Total liabilities | $248,270 |
| Net assets without donor restrictions | $3,620,090 |
| 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 | $3,868,360 |
Grants Awarded
Over the last fiscal year, Transylvania County Library Foundation has awarded $40,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Brevard, NC PURPOSE: Sponsor-outdoor movie series | $10,000 |
Brevard, NC PURPOSE: Sponsor-outdoor movie series | $10,000 |
Brevard, NC PURPOSE: Get Set Transylvania Early childhood initiative | $10,000 |
Brevard, NC PURPOSE: Get Set Transylvania Early childhood initiative | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lyrasis Atlanta, GA | $57,303,144 | $78,536,382 |
Richland County Public Library Columbia, SC | $22,586,834 | $29,522,788 |
Robert W Woodruff Library Of The Atlanta University Center Inc Atlanta, GA | $36,750,621 | $14,706,719 |
Fontana Regional Library Bryson City, NC | $3,949,070 | $3,576,120 |
Hall County Library System Gainesville, GA | $3,250,117 | $3,142,745 |
Blackwater Regional Library Courtland, VA | $2,907,987 | $2,595,036 |
Cli Prison Alliance Inc Raleigh, NC | $1,246,885 | $2,394,225 |
National Sporting Library Incorporated Middleburg, VA | $24,531,630 | $3,372,979 |
Tenn-Share Alcoa, TN | $1,129,556 | $1,846,388 |
Children & Family Resource Center Of Henderson County Inc Hendersonville, NC | $2,071,959 | $1,831,155 |
Triangle Research Libraries Network Durham, NC | $1,003,017 | $2,300,014 |
Central Virginia Regional Library Farmville, VA | $229,029 | $1,098,121 |