Fort Worth Public Library Foundation
- Assets
- $1.9m
- Revenue
- $811.6k
- Investments
- $0.0
- Employees
- 7
- Location
- Fort Worth, TX
- Founding
- 08/1994
- Data as of
- 12/2023
- EIN
- 75-2486106
Organization Overview
Fort Worth Public Library Foundation is located in Fort Worth, TX. The organization was established in 1994. 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 12/2023, Fort Worth Public Library Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth 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 12/2023, Fort Worth Public Library Foundation generated $811.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $724.3k during the year ending 12/2023. While expenses have increased by 3.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BENEFIT BOTH THE FORT WORTH PUBLIC LIBRARY AND THE FORT WORTH COMMUNITY BY PROVIDING RESOURCES THAT SUPPORT EDUCATIONAL PROGRAMMING, BUILDINGS, AND INFRASTRUCTURE IMPROVEMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBRARY SUPPORT: THE FOUNDATION HAS SUPPORTED THE FORT WORTH LIBRARY'S MISSION FOR 30 YEARS BY RAISING PRIVATE DOLLARS TO ENSURE THE LIBRARY CONTINUES TO PROVIDE INNOVATIVE, CREATIVE SERVICES TO AN EXPONENTIALLY GROWING CITY. THE FOUNDATION'S STRATEGIC PLAN FOCUS ON DIVERSIFICATION OF REVENUE TO CREATE AND POSITION THE ORGANIZATION FOR GROWTH AND SUSTAINABILITY TO KEEP PACE WITH THE DEMAND FOR MORE LIBRARY LOCATIONS AND SERVICES. AT THE FORT WORTH LIBRARIES, PEOPLE OF ALL AGES AND SOCIOECONOMIC BACKGROUND HAVE ACCESS TO LEARN AND GROW. FOR EXAMPLE, STUDENTS OF ALL AGES CAN ENGAGE AFTER-SCHOOL WITH STEAM PROGRAMMING; ADULTS MAY EARN THEIR HIGH SCHOOL EQUIVALENCY WITH BI-LINGUAL CLASSES AND TESTING, AND EXCEPTIONAL PROGRAMMING AGING SENIORS; PEOPLE TO FOSTER COMMUNITY CONNECTION.
COMMUNITY PROGRAM: THE FORT WORTH PUBLIC LIBRARY FOUNDATION RUNS ITS OWN EDUCATIONAL PROGRAM CALLED LAUNCHPAD. THE LAUNCPAD COLLEGE APPLICATION MENTORING PROGRAM IS THE ONLY FREE PROGRAM OF ITS KIND SERVING FORT WORTH HIGH SCHOOL STUDENTS. IT PROVIDES FREE ONE-TO-ONEA ND SMALL GROUP COLLEGE APPLICATION ESSAY AND COUNSELING SERVICES AND LARGE GROUP PRESENTATIONS TO FORT WORTH ISD JUNIORS AND SENIORS, AND OTHER AREA STUDENTS INTERESTED IN ATTENDING COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bond Malone Chair | OfficerTrustee | 2 | $0 |
Varun Mallipaddi Vice Chair | OfficerTrustee | 1 | $0 |
Paul Farmer Secretary | OfficerTrustee | 1.25 | $0 |
Jonathan Deweese Treasurer | OfficerTrustee | 1.25 | $0 |
Jake Smith Assistant Tr | OfficerTrustee | 1.25 | $0 |
Hayden Blackburn Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $235,573 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $461,315 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $696,888 |
| Total Program Service Revenue | $0 |
| Investment income | $67,953 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $811,551 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $142,301 |
| 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. | $132,080 |
| Compensation of current officers, directors, key employees. | $50,962 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $231,797 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,968 |
| Payroll taxes | $26,576 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,871 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,007 |
| Office expenses | $70,013 |
| Information technology | $31,273 |
| Royalties | $0 |
| Occupancy | $4,499 |
| Travel | $1,057 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $798 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,092 |
| Insurance | $3,009 |
| All other expenses | $0 |
| Total functional expenses | $724,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,499 |
| Savings and temporary cash investments | $279,772 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,906 |
| 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 | $11,339 |
| Net Land, buildings, and equipment | $1,010 |
| Investments—publicly traded securities | $1,523,347 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,690 |
| Total assets | $1,919,563 |
| Accounts payable and accrued expenses | $12,675 |
| 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 | $4,690 |
| Total liabilities | $17,365 |
| Net assets without donor restrictions | $286,789 |
| Net assets with donor restrictions | $1,615,409 |
| 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 | $1,919,563 |