Open Library Foundation
- Assets
- $372.3k
- Revenue
- $189.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 04/2017
- Data as of
- 06/2022
- EIN
- 81-4396672
Organization Overview
Open Library Foundation is located in Philadelphia, PA. The organization was established in 2017. According to its NTEE Classification (U41) the organization is classified as: Computer Science, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Open 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, Open Library Foundation generated $189.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (24.9%) each year. All expenses for the organization totaled $448.7k during the year ending 06/2022. 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 CORE MISSION OF THE FOUNDATION IS TO ASSIST AND FACILITATE EDUCATIONAL ORGANIZATIONS, FOUNDATIONS, PARTNERSHIPS AND COMMERCIAL ENTITIES TO COLLABORATE TO FOSTER, DEVELOP AND SUSTAIN OPEN TECHNOLOGIES FOR INNOVATION SO AS TO SUPPORT LIBRARIES, LEARNING, RESEARCH AND TEACHING. THE FOUNDATION HELPS RESEARCH, ACADEMIC AND PUBLIC LIBRARIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOLIO : FOLIO IS A COLLABORATION OF LIBRARIES, DEVELOPERS AND VENDORS BUILDING AN OPEN SOURCE LIBRARY SERVICES PLATFORM. IT SUPPORTS TRADITIONAL RESOURCE MANAGEMENT FUNCTIONALITY AND CAN BE EXTENDED INTO OTHER INSTITUTIONAL AREAS. FOLIO INSTITUTED A MEMBERSHIP MODEL IN FY22, ATTRACTING 32 PAID INSTITUTIONAL MEMBERS IN ITS FIRST YEAR, FOR TOTAL MEMBER CONTRIBUTIONS OF $295,000. A DOZEN INSTITUTIONS IMPLEMENTED FOLIO IN THIS TIME PERIOD, BRINGING THE TOTAL TO NEARLY 50 ACROSS THE WORLD IN EUROPE, NORTH AND SOUTH AMERICA, AND ASIA. THREE MAJOR RELEASES WERE COMPLETED. ELECTIONS FOR FY23 FOR THE COMMUNITY, PRODUCT, AND TECHNICAL COUNCILS WERE SUCCESSFULLY CARRIED OUT.
WOLFCON : PREPARATION AND ARRANGEMENTS WERE MADE FOR THE WOLFCON 2023 MEETING HAPPENING IN HAMBERG, GERMANY, IN SEPTEMBER 2022 (NEXT FY).
VUFIND : VUFIND SMLLC WAS INSTANTIATED THIS FY WITH PAPERWORK APPROVED BY ALL PARTIES AND BANKING ACCOUNTS ESTABLISHED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Cramer President | OfficerTrustee | 5 | $0 |
Sam Brooks Board Member | Trustee | 1 | $0 |
Agnese Galeffi Board Member | Trustee | 1 | $0 |
Chris Keene Board Member | Trustee | 1 | $0 |
Nancy Kirkpatrick Board Member | Trustee | 1 | $0 |
Paula Sullenger Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $23,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $156,237 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $179,987 |
| Total Program Service Revenue | $9,850 |
| Investment income | $12 |
| 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 | $189,849 |
| 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 | $2,936 |
| Fees for services: Accounting | $19,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,428 |
| Advertising and promotion | $0 |
| Office expenses | $586 |
| Information technology | $126,770 |
| 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 | $1,386 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $448,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,126 |
| Savings and temporary cash investments | $114,597 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,800 |
| 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 | $23,774 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $372,297 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $23,267 |
| 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 | $0 |
| Total liabilities | $23,267 |
| Net assets without donor restrictions | $277,480 |
| Net assets with donor restrictions | $71,550 |
| 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 | $372,297 |