Memphis Library Foundation

Organization Overview

Memphis Library Foundation is located in Memphis, TN. The organization was established in 1995. 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 06/2023, Memphis Library Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis 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 06/2023, Memphis Library Foundation generated $973.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.2m during the year ending 06/2023. While expenses have increased by 3.9% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

MEMPHIS LIBRARY FOUNDATION TRANSFORMS MEMPHIS THROUGH KNOWLEDGE AND EXPERIENCES BY RAISING AWARENESS AND FUNDS FOR THE MEMPHIS PUBLIC LIBRARIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE MEMPHIS LIBRARY FOUNDATION PROVIDED ENHANCEMENTS TO THE COLLECTIONS OF THE MEMPHIS PUBLIC LIBRARY.


THE MEMPHIS LIBRARY FOUNDATION PROVIDED FUNDING FOR VARIOUS SPECIAL PROJECTS AND EDUCATIONAL PROGRAMS THAT ARE HELPING THE LIBRARY'S CUSTOMERS CONNECT, LEARN, AND GROW.


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Board, Officers & Key Employees

Name (title)Compensation
Lawson Arney
Chairman
$0
Margaret Mclean
Vice-Chair/treasurer
$0
Gerre Currie
Secretary
$0
Christine Munson
Director
$0
Heather Grosvenor
Director
$0
Cynthia Bradford
Director
$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$452,289
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$452,289
Total Program Service Revenue$23,803
Investment income $461,582
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $21,360
Net Income from Fundraising Events $14,276
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $973,310

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