Library Foundation Inc Serving The People Of Multnomah County
- Assets
- $22.7m
- Revenue
- $3.1m
- Investments
- $6.4m
- Employees
- 7
- Location
- Portland, OR
- Founding
- 03/1996
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Library Foundation Inc Serving The People Of Multnomah County generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $2.5m during the year ending 06/2022. While expenses have increased by 0.9% per year over the past 7 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
2022
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 SCHOOL DISTRICTS WITH BOOKS AND PROGRAMS THAT CEMENT READING SKILLS AND ACADEMIC SUCCESS, COUNTERACTING THE EFFECTS OF A DIFFICULT YEAR. SUMMER READING ENGAGED 100,000 CHILDREN AND TEENS WITH A FUN INTERACTIVE GAME. LIBRARY CONNECT CONNECTED 108,000 STUDENTS TO LIBRARY SERVICES, INCLUDING ONLINE RESOURCES, HOMEWORK HELP AND TUTORING SUPPORT. STEAM HOME LEARNING KITS REACHED 68,000 STUDENTS WITH HANDS-ON LEARNING KITS THAT SUPPORT 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.
EARLY LITERACY PROGRAMS THAT MOTIVATE FAMILIES TO READ TOGETHER REACHED 80,000 BABIES, YOUNG CHILDREN AND PARENTS. ENGAGING BOOKS, PARENT EDUCATION, AND MOTIVATIONAL STORYTIMES ENABLED PARENTS TO BECOME THEIR CHILD'S FIRST, BEST AND MOST PERMANENT TEACHER. EVERY CHILD A READER REACHED 25,000 YOUNG CHILDREN AND PARENTS, SENDING BOOKS HOME IN 20 LANGUAGES, EDUCATING PARENTS, AND MOTIVATING FAMILIES TO READ TOGETHER. VIRTUAL STORYTIMES REACHED 29,000 CHILDREN AND PARENTS AT HOME. DIA DE LOS NINOS ENGAGED 12,500 CHILDREN AND PARENTS WITH BILINGUAL LITERACY PROGRAMS. THE WIC PARTNERSHIP REACHED 19,000 LOW-INCOME MOMS AND CHILDREN WITH LITERACY EDUCATION. THE NEW PARENT PROGRAM SENT 5,000 NEWBORNS AND PARENTS HOME WITH LITERACY EDUCATION AND AN INTRODUCTION TO LIBRARY SERVICES.
LIFELONG LEARNING PROGRAMS, WORKSHOPS AND PIONEERING VIRTUAL EVENTS REACHED MORE THAN 16,000 PEOPLE OF ALL AGES LAST YEAR. CHILDREN AND ADULTS WERE ABLE TO ACCESS FREE VIRTUAL ARTS, CULTURAL AND HUMANITIES PROGRAMS. EVERYBODY READS, A COMMUNITY-WIDE READING PROGRAM, REACHED NEARLY 2,000 STUDENTS BY BRINGING BOOKS, CURRICULUM AND ENGAGING DISCUSSIONS TO 24 MIDDLE AND HIGH SCHOOLS AND YOUTH ORGANIZATIONS, 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.
OTHER EXPENSES INCLUDE STAFF TIME AND PROGRAM SERVICES FOR LIBRARY PROGRAMS, COMMUNICATIONS AND ACTIVITIES ($594,202). SUPPORT FOR LIBRARY COLLECTIONS AND LOCATIONS ($74,290).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merris Sumrall CEO | OfficerTrustee | 55.5 | $145,000 |
Eva Kripalani Chair, Trustee | OfficerTrustee | 4 | $0 |
David L Vernier Vice Chair, Trustee | OfficerTrustee | 4 | $0 |
Paul J Kelly Jr Secretary, Trustee | OfficerTrustee | 4 | $0 |
Kori Allen Treasurer, Trustee | OfficerTrustee | 4 | $0 |
Julie Ball 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 | $2,179,410 |
| Noncash contributions included in lines 1a–1f | $351,301 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,179,410 |
| Total Program Service Revenue | $0 |
| Investment income | $567,144 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $384,386 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,134,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,522,902 |
| 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. | $189,094 |
| Compensation of current officers, directors, key employees. | $48,852 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $356,149 |
| Pension plan accruals and contributions | $24,474 |
| Other employee benefits | $52,721 |
| Payroll taxes | $42,319 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,667 |
| Fees for services: Other | $51,352 |
| Advertising and promotion | $0 |
| Office expenses | $102,533 |
| Information technology | $10,020 |
| Royalties | $0 |
| Occupancy | $72,077 |
| 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 | $2,946 |
| Insurance | $4,917 |
| All other expenses | $0 |
| Total functional expenses | $2,534,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $864,479 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $570,042 |
| 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 | $25,274 |
| Net Land, buildings, and equipment | $12,666 |
| Investments—publicly traded securities | $14,827,805 |
| Investments—other securities | $6,369,595 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,669,861 |
| Accounts payable and accrued expenses | $264,904 |
| Grants payable | $409,133 |
| 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 | $3,561 |
| Total liabilities | $677,598 |
| Net assets without donor restrictions | $10,891,271 |
| Net assets with donor restrictions | $11,100,992 |
| 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 | $22,669,861 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Library Foundation Inc Serving The People Of Multnomah County has recieved totaling $472,791.
| Awarding Organization | Amount |
|---|---|
Oregon Community Foundation Portland, OR PURPOSE: Libraries | $237,356 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $77,550 |
Collins Foundation Portland, OR PURPOSE: ADAPT AND SUPPORT EARLY LITERACY PROGRAMS IN RESPONSE TO THE COVID-19 PANDEMIC FOR CHILDREN AND FAMILIES FROM COMMUNITIES OF COLOR AND IMMIGRANT AND REFUGEE COMMUNITIES LIVING ON LOW INCOMES IN MULTNOMAH COUNTY | $50,000 |
Ocf Joseph E Weston Public Foundation Portland, OR PURPOSE: Libraries | $45,000 |
Olseth Foundation Minnetonka, MN PURPOSE: OPERATING | $30,000 |
Hillman Family Foundations Pittsburgh, PA PURPOSE: EVERY CHILD A READER PROGRAM | $15,000 |
Endowment Analysis
| Beg. Balance | $19,457,339 |
| Earnings | -$1,443,234 |
| Net Contributions | $260,150 |
| Other Expense | $675,813 |
| Ending Balance | $17,598,442 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ayn Rand Institute The Center For The Advancement Of Objectivism Santa Ana, CA | $17,620,667 | $17,085,722 |
Claremont Inst For The Study Of Statesmanship & Polit Philosophy Upland, CA | $14,003,298 | $9,466,224 |
California Humanities Oakland, CA | $2,781,512 | $6,891,682 |
Partners Asia Oakland, CA | $6,552,828 | $5,792,880 |
Literary Arts Inc Portland, OR | $14,485,873 | $11,203,520 |
Library Foundation Inc Serving The People Of Multnomah County Portland, OR | $22,669,861 | $3,134,177 |
Richard Hugo House Seattle, WA | $7,413,381 | $2,157,328 |
Get Lit Words Ignite Inc Los Angeles, CA | $1,330,397 | $2,322,954 |
Seattle Arts And Lectures Inc Seattle, WA | $2,481,915 | $2,696,759 |
Humanities Washington Seattle, WA | $1,874,322 | $2,110,794 |
Society For Creative Anachronism Inc San Jose, CA | $6,483,503 | $1,391,085 |
Asian Pacific Institute On Gender-Based Violence Oakland, CA | $515,688 | $1,708,443 |