Montecito Friends Of The Library
- Assets
- $1.3m
- Revenue
- $301.9k
- Investments
- $116.1k
- Employees
- 0
- Location
- Santa Barbara, CA
- Founding
- 05/1976
- Data as of
- 06/2022
- EIN
- 95-3614638
Organization Overview
Montecito Friends Of The Library is located in Santa Barbara, CA. The organization was established in 1976. 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. Montecito 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, Montecito Friends Of The Library generated $301.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $107.6k during the year ending 06/2022. While expenses have increased by 10.1% 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
THE MONTECITO FRIENDS OF THE LIBRARY IS A NON-PROFIT ORGANIZATION FORMED TO RAISE MUCH NEEDED FUNDS IN ORDER TO SUPPLEMENT THE FUNDING FROM THE COUNTY OF SANTA BARBARA TO THE SANTA BARBARA PUBLIC LIBRARY. THE ULTIMATE GOAL OF THE ORGANIZATION IS TO OFFER THIS ADDITIONAL FUNDING SO THE MONTECITO LIBRARY CAN CONTINUE TO ENHANCE ITS ABILITY TO PROVIDE COMPREHENSIVE AND INNOVATIVE PROGRAMMING, TIMELY RESOURCES & RESPONSIVE ASSISTANCE TO FOSTER A THRIVING COMMUNITY OF LEARNING, SHARING AND CREATING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTERING COMMUNITY AWARENESS, SUPPORT AND USE OF THE FACILITIES AND PROGRAMS OF THE MONTECITO LIBRARY BY PROVIDING AN ANNUAL GRANT TO THE SANTA BARBARA PUBLIC LIBRARY SYSTEM, WHO IN TURN IS BETTER ABLE TO FACILITATE THE SUSTAINMENT OF THE MONTECITO LIBRARY AT ITS HIGHEST LEVEL OF OPERATIONS. THESE PUBLIC DONATIONS ARE ULTIMATELY USED TO HELP FUND OPERATIONS AND SPONSOR PROGRAMS DESIGNED TO ADD TO THE CULTURAL LIFE OF THE COMMUNITY AND TO ENCOURAGE THE INTRODUCTION AND USE OF DEVELOPING LIBRARY TECHNOLOGY, AS WELL AS SUPPORTING AN ACTIVE CHILDREN'S PROGRAM IN COORDINATION WITH EXISTING SCHOOL AND LIBRARY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Saley President | OfficerTrustee | 5 | $0 |
Kendra Epley Treasurer | OfficerTrustee | 5 | $0 |
Kelly Hatchett Secretary | OfficerTrustee | 5 | $0 |
Patty Marshall Vice President | OfficerTrustee | 5 | $0 |
Robert Toledo Board Member | Trustee | 1 | $0 |
Sharon Byrne Board Member | Trustee | 1 | $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 | $198,176 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $198,176 |
| Total Program Service Revenue | $0 |
| Investment income | $21,261 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $82,501 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $301,938 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,500 |
| 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 | $4,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,658 |
| Fees for services: Other | $14,235 |
| Advertising and promotion | $5,100 |
| Office expenses | $3,210 |
| Information technology | $4,850 |
| 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 | $107,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,149 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,095,721 |
| Investments—other securities | $116,102 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,600 |
| Total assets | $1,281,572 |
| 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 | $577,229 |
| Net assets with donor restrictions | $704,343 |
| 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 | $1,281,572 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Montecito Friends Of The Library has recieved totaling $58,512.
| Awarding Organization | Amount |
|---|---|
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY PURPOSE: RESEARCH PROJECT | $20,000 |
Manitou Fund White Bear Lake, MN PURPOSE: PUBLIC EDUCATION MARKETING PLAN AND FUNDRAISING | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $8,950 |
Minneapolis Foundation Minneapolis, MN PURPOSE: INFORMATION & COMMUNICATIONS | $6,000 |
Andrew D Busch Family Foundation South Pasadena, CA PURPOSE: TO PROVIDE COMPREHENSIVE AND INNOVATIVE PROGRAMMING, TIMELY RESOURCES & RESPONSIVE ASSISTANCE TO FOSTER A THRIVING COMMUNITY | $2,500 |
2005 Tomchin Fam Charitable Tr Santa Barbara, CA PURPOSE: PUBLIC ACCESS TO KNOWLEDGE | $1,000 |
Endowment Analysis
| Beg. Balance | $1,413,940 |
| Earnings | -$224,617 |
| Net Contributions | $22,500 |
| Ending Balance | $1,211,823 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
U C San Diego Foundation La Jolla, CA | $1,658,962,820 | $199,905,173 |
California State University Fresno Foundation Fresno, CA | $305,581,286 | $82,049,002 |
University Of Hawaii Foundation Honolulu, HI | $548,406,506 | $76,733,850 |
University Corporation At Monterey Bay Seaside, CA | $199,917,843 | $49,155,763 |
San Jose State University Research Foundation San Jose, CA | $57,091,451 | $53,661,013 |
University Of Nevada-Reno Foundation Reno, NV | $310,760,494 | $35,673,494 |
The U C Davis Foundation Davis, CA | $716,342,130 | $110,976,640 |
Southwestern Law School Los Angeles, CA | $126,801,745 | $54,692,632 |
Associated Students Ucla Los Angeles, CA | $54,580,827 | $39,327,069 |
Csu Fullerton Auxiliary Services Corporation Fullerton, CA | $104,352,109 | $45,637,535 |
New Schools Fund Oakland, CA | $55,397,321 | $41,218,694 |
Chico State Enterprises Chico, CA | $47,170,077 | $46,861,327 |