Peninsula Friends Of The Library
- Assets
- $3.3m
- Revenue
- $585.8k
- Investments
- $215.9k
- Employees
- 3
- Location
- Palos Verdes Peninsula, CA
- Founding
- 12/1979
- Data as of
- 06/2022
- EIN
- 95-3275918
Organization Overview
Peninsula Friends Of The Library is located in Palos Verdes Peninsula, CA. The organization was established in 1979. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Peninsula Friends Of The Library employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peninsula Friends Of The Library 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, Peninsula Friends Of The Library generated $585.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $437.2k 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 MISSION OF THE PENINSULA FRIENDS OF THE LIBRARY IS TO RAISE FUNDS TO SUPPORT THE PALOS VERDES LIBRARY DISTRICT ("PLVD") AND TO BUILD COMMUNITY AWARENESS AND ENTHUSIASM FOR PVLD SERVICES, PROGRAMS, AND NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION BUILDS COMMUNITY AWARENESS AND ENTHUSIASM FOR THE PALOS VERDES LIBRARY DISTRICT PROGRAMS. THE ORGANIZATION HOLDS SPECIAL EVENTS AND RUNS THE SALES OF DONATED BOOKS FOR THE LIBRARY.
THE ORGANIZATION CONTRIBUTES FUNDS TO SUPPORT THE PALOS VERDES LIBRARY DISTRICT FOR SUPPORT SERVICES THAT INCLUDE CAPITAL CONTRIBUTIONS TOWARDS LIBRARY EVENTS,EQUIPMENT, NEWSLETTER, SUNDAY LIBRARY SERVICES, THE YOUTH SUMMER READING PROGRAM, AND INTERNET ACCESS FOR LIBRARY PATRONS.
THE ORGANIZATION COORDINATES THE PALOS VERDES LIBRARY DISTRICT'S BOOKS FOR TROOPS PROGRAM, WHICH SUPPLIES FREE BOOKS TO THE U.S. MILITARY PERSONNEL. SINCE ITS START IN 2004, THE ORGANIZATION VOLUNTEERS HAVE GATHERED, SORTED, CLEANED, PACKAGED AND SHIPPED BOOKS, CDS, DVDS AND MAGAZINES TO U.S. ARMY, NAVY, AIR FORCE, COAST GUARD AND MARINE UNITS ALL OVER THE WORLD. THE ORGANIZATION ALSO SENDS BOOKS TO SERVICE FAMILIES AND VETERANS AFFAIRS HOSPITALS, AND SELLS DONATED BOOKS AND RUNS A SHOP IN THE PALOS VERDES LIBRARY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Cotter Executive Director | 0 | $100,200 | |
Ron Defrees President | OfficerTrustee | 10 | $0 |
Sharron Parke Vice President | OfficerTrustee | 5 | $0 |
George Legg Treasurer | OfficerTrustee | 3 | $0 |
Nancy Mahr Secretary | OfficerTrustee | 3 | $0 |
Christen King Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $318,868 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $319,868 |
| Total Program Service Revenue | $144,306 |
| Investment income | $86,049 |
| 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 | $585,841 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $220,966 |
| 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. | $95,681 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,327 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $390 |
| Payroll taxes | $8,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,432 |
| Office expenses | $45,355 |
| Information technology | $1,735 |
| 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 | $11,744 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,276 |
| All other expenses | $0 |
| Total functional expenses | $437,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $262,864 |
| Savings and temporary cash investments | $0 |
| 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 | $13,624 |
| Prepaid expenses and deferred charges | $4,035 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,800,727 |
| Investments—other securities | $215,918 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,297,168 |
| Accounts payable and accrued expenses | $597,379 |
| 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 | $597,379 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $2,699,789 |
| Total liabilities and net assets/fund balances | $3,297,168 |