The Corvallis-Benton County Public Library Foundation Inc
- Assets
- $2.9m
- Revenue
- $853.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Corvallis, OR
- Founding
- 06/1992
- Data as of
- 06/2023
- EIN
- 93-0933948
Organization Overview
The Corvallis-Benton County Public Library Foundation Inc is located in Corvallis, OR. The organization was established in 1992. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corvallis-Benton County Public Library Foundation Inc 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, Corvallis-Benton County Public Library Foundation Inc generated $853.3k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 47.6% each year . All expenses for the organization totaled $104.7k during the year ending 06/2023. While expenses have increased by 30.4% per year over the past 3 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 ENCOURAGE COMMUNITY INVESTMENT THROUGH PRIVATE GIVING TO ENSURE THE PEOPLE OF BENTON COUNTY THE FULL MEASURE OF RESOURCES, SERVICE AND ACCESS BEFITTING A GREAT PUBLIC LIBRARY. THE FOUNDATION FUNDS LARGE DOLLAR ITEMS OR PROJECTS AND PURCHASES BOOKS AND OTHER MATERIALS FOR THE LIBRARY SYSTEM IN ACCORDANCE WITH DONOR DESIGNATIONS AND AS DIRECTED BY FOUNDATION BOARD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSFERRED $30,315 IN DONOR DESIGNATED FUNDS COLLECTED IN PRIOR FISCAL YEARS TO THE CORVALLIS-BENTON COUNTY PUBLIC LIBRARY FOR THE PURCHASE OF MATERIALS FOR THE LIBRARY'S COLLECTIONS.
TRANSFERRED $20,000 IN DONOR DESIGNATED FUNDS COLLECTED IN PRIOR FISCAL YEARS TO THE CORVALLIS-BENTON COUNTY PUBLIC LIBRARY FOR SPECIAL LIBRARY NEEDS THAT WILL BE USED FOR FURNISHINGS, INCLUDING SOME THAT WILL BE MORE INCLUSIVE FOR THE DISABLED AND OTHER USERS WITH SPECIFIC NEEDS.
TRANSFERRED $14,776 IN DONOR DESIGNATED FUNDS COLLECTED IN PRIOR FISCAL YEARS TO THE CORVALLIS-BENTON COUNTY PUBLIC LIBRARY FOR THE COMPLETION OF THE PROJECT TO ENCLOSE THE PATIO. IN ADDITION, PAID $500 TO A VENDOR FOR DESIGN WORK FOR INSTALLATIONS IN THE AREA TO RECOGNIZE MAJOR DONORS TO THE PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Low President | OfficerTrustee | 5.77 | $0 |
Elena Passarello Vice-President (july - Aug) | OfficerTrustee | 0.06 | $0 |
Steve Stephenson Vice-President (sept-Dec) | OfficerTrustee | 1 | $0 |
Curtis Wright Vice-President (jan-June) | OfficerTrustee | 2 | $0 |
Jacque Schreck Secretary | OfficerTrustee | 0.96 | $0 |
Felicia Uhden Treasurer | OfficerTrustee | 6.57 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $190 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $194,493 |
| Noncash contributions included in lines 1a–1f | $10,274 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $194,683 |
| Total Program Service Revenue | $0 |
| Investment income | $167,215 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $489,506 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $853,255 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $97,969 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,387 |
| Office expenses | $249 |
| Information technology | $2,275 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $104,717 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,207 |
| Savings and temporary cash investments | $98,276 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,785,095 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $105 |
| Other assets | $0 |
| Total assets | $2,889,683 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,889,683 |
| 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 | $2,889,683 |
Grants Awarded
Over the last fiscal year, The Corvallis-Benton County Public Library Foundation Inc has awarded $80,684 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CORVALLIS-BENTON COUNTY PUBLIC LIBRARY PURPOSE: Grants were used for capital project enclosing the patio, for materials for the Library collection, to support services at branches, for furnishings for the Corvallis Library, to complete artwork at the Alsea Community Library, and to refurbish artwork at the Philomath Community Library. | $65,785 |
ALSEA COMMUNITY EFFORT PURPOSE: Grants were used to support the facility and operations of the Alsea Community Library and to support ACE in its fundraising for that Library. | $14,899 |