Library Foundation Inc Serving The People Of Multnomah County
- Assets
- $26.4m
- Revenue
- $4.8m
- Investments
- $6.1m
- Employees
- 7
- Location
- Portland, OR
- Founding
- 03/1996
- Data as of
- 06/2023
- EIN
- 93-1190983
Organization Overview
Library Foundation Inc Serving The People Of Multnomah County is located in Portland, OR. The organization was established in 1996. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Library Foundation Inc Serving The People Of Multnomah County employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Library Foundation Inc Serving The People Of Multnomah County 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, Library Foundation Inc Serving The People Of Multnomah County generated $4.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $2.5m during the year ending 06/2023. While expenses have increased by 0.6% per year over the past 8 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 ENHANCE MULTNOMAH COUNTY LIBRARY'S INNOVATIVE WORK AND STRENGTHEN OUR LIBRARY SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL-AGE LITERACY PROGRAMS REACHED ALL K-12 STUDENTS IN 7 SCHOOLDISTRICTS WITH BOOKS AND PROGRAMS THAT CEMENT READING SKILLS ANDACADEMIC SUCCESS, COUNTERACTING THE EFFECTS OF A DIFFICULT SCHOOL YEAR. SUMMER READING ENGAGED 104,000 CHILDREN AND TEENS THROUGHOUT THE SUMMER. THE LIBRARY CONNECT PROGRAM CONNECTED 115,000 STUDENTS TO LIBRARY SERVICES, INCLUDING RESEARCH CONTENT, HOMEWORK HELP AND TUTORING SUPPORT. STEAM HOME LEARNING KITS REACHED 19,000 STUDENTS WITH HANDS-ON LEARNING KITS THAT SUPPORTED ACADEMIC ACHIEVEMENT. 30,000 CHILDREN'S BOOKS AND E-BOOKS IN MORE THAN 20 LANGUAGES WENT HOME WITH TENS OF THOUSANDS OF CHILDREN THROUGH OUTREACH WORK AND THE CIRCULATING COLLECTION.
LIFELONG LEARNING PROGRAMS, WORKSHOPS AND INNOVATIVE VIRTUAL EVENTSREACHED MORE THAN 15,000 PEOPLE OF ALL AGES LAST YEAR. CHILDREN ANDADULTS WERE ABLE TO ACCESS FREE VIRTUAL ARTS, CULTURAL AND HUMANITIESPROGRAMS. EVERYBODY READS, A COMMUNITY-WIDE READING PROGRAM, REACHED HUNDREDS OF STUDENTS AT 25 MIDDLE AND HIGH SCHOOLS AND YOUTH ORGANIZATIONS WITH BOOKS, CURRICULUM AND ENGAGING DISCUSSIONS, TRANSFORMING HOW STUDENTS EXPERIENCE READING, WRITING, AND THE WRITTEN WORD. SENIORS AND ADULTS ALSO PARTICIPATED IN EVERYBODY READS, INCLUDING ONLINE PROGRAMMING AND BOOK DISCUSSION GROUPS. ($136,995)OTHER SUPPORT INCLUDES: SUPPORT FOR LIBRARY COLLECTIONS AND LOCATIONS ($89,046); STAFF TIME AND PROGRAM SERVICES FOR LIBRARY PROGRAMS, COMMUNICATIONS AND ACTIVITIES ($576,037).
EARLY LITERACY PROGRAMS THAT MOTIVATE FAMILIES TO READ TOGETHER REACHED 85,000 BABIES, YOUNG CHILDREN AND PARENTS. ENGAGING BOOKS, PARENT EDUCATION, AND MOTIVATIONAL STORYTIMES HELPED PARENTS BECOME THEIR CHILD'S FIRST, BEST AND MOST PERMANENT TEACHER. EVERY CHILD A READER REACHED 26,500 YOUNG CHILDREN AND PARENTS, SENDING BOOKS HOME IN 20 LANGUAGES, EDUCATING PARENTS, AND MOTIVATING FAMILIES TO READ TOGETHER. STORYTIMES REACHED 36,000 CHILDREN AND PARENTS AT HOME, OUT IN THE COMMUNITY, AND AT LIBRARY LOCATIONS. DIA DE LOS NINOS ENGAGED 10,000 CHILDREN AND PARENTS WITH BILINGUAL LITERACY PROGRAMS. THE NEW PARENT PROGRAM SENT 6,000 NEWBORNS AND PARENTS HOME WITH LITERACY EDUCATION AND AN INTRODUCTION TO LIBRARY SERVICES.
LIBRARIES FOR OUR FUTURE - IN 2020, THE LIBRARY BEGAN WORK ON A BUILDING PLAN TO MEET THE 21ST CENTURY NEEDS OF OUR COMMUNITY BY BUILDING OR EXPANDING 8 LIBRARIES, INCREASING OUR SYSTEM'S SPACE BY NEARLY 60%. IN 2022-2023, THE LIBRARY FOUNDATION COMPLETED YEAR 1 OF A FUNDRAISING CAMPAIGN TO SUPPORT THE DESIGN AND BUILD OF CUTTING-EDGE LEARNING ENVIRONMENTS AND SPACES FOR CHILDREN AND TEENS IN EACH OF THESE LIBRARIES. FOUNDATION SUPPORT FUNDED THE DESIGN OF INTERACTIVE EARLY LEARNING SPACES IN THE FIRST THREE OF EIGHT BUILDING PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Thies Chair | OfficerTrustee | 4 | $0 |
Kori Allen Vice-Chair | OfficerTrustee | 4 | $0 |
Paul J Kelly Jr Secretary | OfficerTrustee | 4 | $0 |
Peter Galen Treasurer | OfficerTrustee | 4 | $0 |
Luka Arnerich Trustee | Trustee | 1 | $0 |
Julie Ball Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $167,708 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,273,540 |
| Noncash contributions included in lines 1a–1f | $129,891 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,441,248 |
| Total Program Service Revenue | $0 |
| Investment income | $333,437 |
| 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 | $4,774,861 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,416,954 |
| 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. | $199,988 |
| Compensation of current officers, directors, key employees. | $16,975 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $369,682 |
| Pension plan accruals and contributions | $27,330 |
| Other employee benefits | $55,651 |
| Payroll taxes | $45,168 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,785 |
| Fees for services: Accounting | $50,230 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,358 |
| Fees for services: Other | $62,842 |
| Advertising and promotion | $0 |
| Office expenses | $83,504 |
| Information technology | $28,495 |
| Royalties | $0 |
| Occupancy | $48,353 |
| 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 | $3,508 |
| Insurance | $15,462 |
| All other expenses | $0 |
| Total functional expenses | $2,489,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,271,994 |
| Savings and temporary cash investments | $53,497 |
| Pledges and grants receivable | $1,022,386 |
| 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 | $33,196 |
| Net Land, buildings, and equipment | $9,158 |
| Investments—publicly traded securities | $17,073,778 |
| Investments—other securities | $6,136,576 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $808,727 |
| Total assets | $26,409,312 |
| Accounts payable and accrued expenses | $334,591 |
| Grants payable | $253,833 |
| 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 | $278,135 |
| Total liabilities | $866,559 |
| Net assets without donor restrictions | $12,498,451 |
| Net assets with donor restrictions | $13,044,302 |
| 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 | $26,409,312 |