Fayetteville Public Library Foundation
- Assets
- $28.1m
- Revenue
- $1.7m
- Investments
- $3.7m
- Employees
- 3
- Location
- Fayetteville, AR
- Founding
- 08/1999
- Data as of
- 12/2022
- EIN
- 71-0827418
Organization Overview
Fayetteville Public Library Foundation is located in Fayetteville, AR. The organization was established in 1999. 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, Fayetteville Public Library Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fayetteville Public 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 12/2022, Fayetteville Public Library Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $1.7m during the year ending 12/2022. 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
THE FAYETTEVILLE PUBLIC LIBRARY FOUNDATION SPEARHEADS MAJOR FUND-RAISING CAMPAIGNS TO BRIDGE THE GAP CAUSED BY SHRINKING MUNICIPAL BUDGETS AND THE LIBRARY'S GROWING NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILD AND MAINTAIN A NEW LIBRARY, ADVANCEMENT OF THE ROLE OF LIBRARY IN ENCOURAGING READING, KNOWLEDGE ACQUISITION, AND A LOVE OF LITERATURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Cornett President - Start 8/2022 | OfficerTrustee | 0.25 | $0 |
Casey Greene Vice President - Start 8/2022 | OfficerTrustee | 0.25 | $0 |
Eva Terry Board Member | Trustee | 0.25 | $0 |
Jessica Gray Board Member | Trustee | 0.25 | $0 |
Hannah Clark Board Member | Trustee | 0.25 | $0 |
Melody Timinsky President - Thru 7/2022 | OfficerTrustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $26,100 |
| Related organizations | $0 |
| Government grants | $93,216 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,066,901 |
| Noncash contributions included in lines 1a–1f | $834,571 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,186,217 |
| Total Program Service Revenue | $0 |
| Investment income | $103,036 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $372,000 |
| Net Gain/Loss on Asset Sales | $42,086 |
| Net Income from Fundraising Events | -$8,878 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,694,547 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $146,544 |
| 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 | $157,077 |
| Pension plan accruals and contributions | $10,174 |
| Other employee benefits | $26,218 |
| Payroll taxes | $73 |
| Fees for services: Management | $32,214 |
| Fees for services: Legal | $1,220 |
| Fees for services: Accounting | $31,413 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,540 |
| Advertising and promotion | $3,559 |
| Office expenses | $21,596 |
| Information technology | $27,461 |
| Royalties | $0 |
| Occupancy | $9,000 |
| Travel | $547 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $339,144 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $860,783 |
| Insurance | $4,755 |
| All other expenses | $1,269 |
| Total functional expenses | $1,687,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,935,288 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,561,571 |
| Accounts receivable, net | $40,374 |
| 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 | $16,055,905 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,698,416 |
| Investments—program-related | $0 |
| Intangible assets | $47,545 |
| Other assets | $768,000 |
| Total assets | $28,107,099 |
| Accounts payable and accrued expenses | $65,381 |
| Grants payable | $0 |
| Deferred revenue | $798,336 |
| 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 | $7,036,440 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $232,347 |
| Total liabilities | $8,132,504 |
| Net assets without donor restrictions | $6,390,236 |
| Net assets with donor restrictions | $13,584,359 |
| 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 | $28,107,099 |