Anchorage Library Foundation
- Assets
- $13.2m
- Revenue
- $411.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Anchorage, AK
- Founding
- 10/1981
- Data as of
- 12/2022
- EIN
- 92-0081583
Organization Overview
Anchorage Library Foundation is located in Anchorage, AK. The organization was established in 1981. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Anchorage 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, Anchorage Library Foundation generated $411.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $202.7k 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
BELIEVING THAT FREE PUBLIC LIBRARIES ARE ESSENTIAL TO OUR COMMUNITY, THE ANCHORAGE LIBRARY FOUNDATION WORKS TO PROMOTE, FUND AND SUPPORT THE LONG- TERM VITALITY OF THE ANCHORAGE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANCHORAGE LIBRARY RENEWAL INITIATIVE: THE GOAL OF THE INITIATIVE IS TO BUILD MODERN LIBRARIES THAT ENCOURAGE LIFELONG LEARNING AND COMMUNITY ENGAGEMENT, AND REFLECT THE DIVERSITY OF ANCHORAGE'S NEIGHBORHOODS AND RESIDENTS. THIS MULTI-YEAR PROGRAM ENVISIONS RENOVATIONS AND/OR UPGRADES TO ANCHORAGE PUBLIC LIBRARY FACILITIES, AS WELL AS INVESTMENT IN NEW PROGRAMS AND ACTIVITES. CURRENT PROJECTS INCLUDE BUILDING A NEW ALASKA ROOM AT LOUSSAC LIBRARY, THE SOCIAL WORKER IN THE LIBRARY, AND FURNITURE AND EQUIPMENT UPGRADES AT NEIGHBORHOOD LIBRARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shanna Allen Executive Di | Officer | 30 | $25,000 |
Kim Hays President | OfficerTrustee | 4 | $0 |
Chris Vaughan Vice Preside | OfficerTrustee | 2 | $0 |
Kenrick Mock Secretary | OfficerTrustee | 2 | $0 |
Amanda Keates Treasurer | OfficerTrustee | 4 | $0 |
Audrey Jo Malone Trustee | Trustee | 2 | $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 | $263,921 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $263,921 |
| Total Program Service Revenue | $0 |
| Investment income | $147,854 |
| 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 | $411,775 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $71,585 |
| 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. | $31,467 |
| Compensation of current officers, directors, key employees. | $15,734 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,695 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,913 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,575 |
| Fees for services: Other | $21,253 |
| Advertising and promotion | $390 |
| Office expenses | $9,128 |
| Information technology | $1,516 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,484 |
| All other expenses | $0 |
| Total functional expenses | $202,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $311,167 |
| Savings and temporary cash investments | $1,330,429 |
| Pledges and grants receivable | $23,103 |
| 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 | $366 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,656,694 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,908,826 |
| Total assets | $13,230,585 |
| Accounts payable and accrued expenses | $34,438 |
| 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 | $0 |
| Total liabilities | $34,438 |
| Net assets without donor restrictions | $844,208 |
| Net assets with donor restrictions | $12,351,939 |
| 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 | $13,230,585 |