Charleston Library Society
- Assets
- $13.3m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 20
- Location
- Charleston, SC
- Founding
- 03/1941
- Data as of
- 12/2022
- EIN
- 57-0314372
Organization Overview
Charleston Library Society is located in Charleston, SC. The organization was established in 1941. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2022, Charleston Library Society employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charleston Library Society 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 12/2022, Charleston Library Society generated $1.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 7.7% per year over the past 8 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
FOUNDED IN 1748, THE CHARLESTON LIBRARY SOCIETY (THE SOCIETY) IS THE SOUTH'S OLDEST CULTURAL INSTITUTION AND THE SECOND OLDEST CIRCULATING LIBRARY IN THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBRARY COLLECTS, PRESERVES AND MAKES AVAILABLE CULTURAL MATERIALS FOR THE USE OF ITS MEMBERS AND RESEARCHERS AROUND THE WORLD. IN ADDITION, IT IS A CIRCULATING LIBRARY AND A REPOSITORY OF RARE BOOKS PERIODICALS, MANUSCRIPTS, CLIPPINGS, MAPS, DIRECTORIES, ALMANACS AND VISUAL MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Auburn Director | Trustee | 4 | $0 |
Stevenson Bennett Director | Trustee | 4 | $0 |
James Bradshaw Director | Trustee | 4 | $0 |
Susan Dicamillo Director | Trustee | 4 | $0 |
Samuel Easley Director | Trustee | 4 | $0 |
Deborah Fisher Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Palmetto Craftsmen Inc Construction | 12/30/20 | $936,034 |
Total Comfort Solutions Construction | 12/30/20 | $151,227 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $722,510 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $693,369 |
| Noncash contributions included in lines 1a–1f | $124,859 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,437,129 |
| Total Program Service Revenue | $127,229 |
| Investment income | $126,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $77,869 |
| Net Gain/Loss on Asset Sales | -$18,940 |
| Net Income from Fundraising Events | $37,695 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,787,905 |
| 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. | $261,500 |
| Compensation of current officers, directors, key employees. | $52,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $661,987 |
| Pension plan accruals and contributions | $40,954 |
| Other employee benefits | $92,801 |
| Payroll taxes | $63,496 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,240 |
| Fees for services: Accounting | $11,759 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,323 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,241 |
| Office expenses | $22,499 |
| Information technology | $31,922 |
| Royalties | $0 |
| Occupancy | $60,941 |
| Travel | $12,785 |
| 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 | $271,169 |
| Insurance | $66,035 |
| All other expenses | $12,614 |
| Total functional expenses | $2,001,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,064,096 |
| 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 | $5,484,955 |
| Investments—publicly traded securities | $5,784,653 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,388 |
| Other assets | $0 |
| Total assets | $13,337,092 |
| Accounts payable and accrued expenses | $21,454 |
| Grants payable | $0 |
| Deferred revenue | $268,882 |
| 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 | $6,588 |
| Total liabilities | $296,924 |
| Net assets without donor restrictions | $10,892,761 |
| Net assets with donor restrictions | $2,147,407 |
| 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 | $13,337,092 |