Friends Of The Hennepin County Library
- Assets
- $7.9m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 11
- Location
- Minneapolis, MN
- Founding
- 08/1989
- Data as of
- 12/2021
- EIN
- 36-3579536
Organization Overview
Friends Of The Hennepin County Library is located in Minneapolis, MN. The organization was established in 1989. 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 12/2021, Friends Of The Hennepin County Library employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Hennepin County 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 12/2021, Friends Of The Hennepin County Library generated $6.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $3.5m during the year ending 12/2021. While expenses have increased by 10.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDS OF THE HENNEPIN COUNTY LIBRARY IS THE FUNDRAISING PARTNER OF HENNEPIN COUNTY LIBRARY AND BUILDS AWARENESS, APPRECIATION AND SUPPORT FOR OUR WORLD-CLASS LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBRARY SUPPORT: AS THE LIBRARY'S NONPROFIT FUNDRAISING PARTNER, FHCL BUILDS LIBRARY AWARENESS AND APPRECIATION THROUGH COMPELLING STORYTELLING AND RAISES SIGNIFICANT FINANCIAL RESOURCES FOR LIBRARY STRATEGIC PRIORITIES, INCLUDING WORKFORCE DEVELOPMENT, COMMUNITY OUTREACH, YOUTH DEVELOPMENT AND THE WORLD CLASS COLLECTION. TOGETHER, WE ENVISION A HENNEPIN COUNTY WHERE LIBRARY SERVICES ENSURE THAT EVERY PERSON HAS THE OPPORTUNITY AND RESOURCES TO READ, GRADUATE, ENGAGE, WORK AND LEARN.
PEN PALS: PEN PALS IS THE HIGHLY ACCLAIMED, LONGEST RUNNING LITERARY SERIES IN THE TWIN CITIES FEATURING AWARD-WINNING, BEST-SELLING AUTHORS WHO SPEAK ON THEIR LIFE AND WORK AS WRITERS. THIS AUTHOR LECTURE SERIES GENERATES INCOME SUPPORTING THE ORGANIZATION'S MISSION. AFTER THE COVID-19 PANDEMIC LOCK-DOWN WAS LIFTED, TWENTY-FIVE (25) VOLUNTEERS ASSISTED STAFF AT TWO IN-PERSON EVENTS, CONTRIBUTING 50 HOURS TO THE PROGRAM. IN 2021, 1,458 PEOPLE ATTENDED IN-PERSON EVENTS, AND 3,742 HOUSEHOLDS ATTENDED VIRTUAL LIVESTREAM PROGRAMS OR ON-DEMAND RECORDINGS.
PUBLIC AWARENESS AND DONOR ENGAGEMENT: TALK OF THE STACKS IS A FREE AUTHOR LECTURE SERIES PRODUCED BY FRIENDS WITH GUEST AUTHORS WHO FOCUS ON CONTEMPORARY LITERATURE AND CULTURE ACROSS AN ARRAY OF SOCIAL, ECONOMIC AND GLOBAL TOPICS. IN TOTAL, 4,505 INDIVIDUALS ATTENDED FIVE VIRTUAL PROGRAMS THROUGHOUT THE YEAR AT NO COST. VOLUNTEER OPPORTUNITIES WERE NIL WHILE IN-PERSON PROGRAMS REMAINED PAUSED DUE TO THE IMPACT OF THE PANDEMIC. IN ADDITION TO THESE FIVE PROGRAMS, THREE AUTHOR/BOOK CLUB PANEL EVENTS WERE PRODUCED WITH 1,454 INDIVIDUALS ATTENDING LIVE AND ANOTHER 984 ATTENDEES VIEWING THE ON-DEMAND RECORDING THEREAFTER. 1,400 PRINTED EVENT GUIDES WERE DISTRIBUTED TO AUDIENCE MEMBERS AT THE TWO IN-PERSON PEN PALS EVENTS, AND 1,817 (CONTINUED ON SCHEDULE O)ATTENDEES ACCESSED VIRTUAL EVENT GUIDES. MORE THAN 29,980 PRINT NEWSLETTERS WERE DISTRIBUTED. 50+ EMAIL COMMUNICATIONS WERE SENT TO 18,465 E-NEWS SUBSCRIBERS; SOCIAL MEDIA FOLLOWERS (FACEBOOK, INSTAGRAM, TWITTER, LINKEDIN) GREW TO 10,840 SUBSCRIBERS, AND FHCL WEBSITE ACCESS GREW TO 73,149 VISITORS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Pearson CEO | Officer | 40 | $166,265 |
Julie Allinson President | OfficerTrustee | 1 | $0 |
Suzan Mcginnis Secretary | OfficerTrustee | 1 | $0 |
Peter Lancaster Treasurer | OfficerTrustee | 1 | $0 |
Rosa Marroquin Vice President | OfficerTrustee | 1 | $0 |
Julia Dayton Klein Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $117,372 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,149,567 |
| Noncash contributions included in lines 1a–1f | $62,254 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,266,939 |
| Total Program Service Revenue | $243,433 |
| Investment income | $94,230 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $345,452 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,950,054 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,005,000 |
| 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. | $173,473 |
| Compensation of current officers, directors, key employees. | $17,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $543,722 |
| Pension plan accruals and contributions | $15,987 |
| Other employee benefits | $49,904 |
| Payroll taxes | $48,816 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,355 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,314 |
| Fees for services: Other | $82,910 |
| Advertising and promotion | $51,910 |
| Office expenses | $243,997 |
| Information technology | $36,391 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,408 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,799 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,365 |
| Insurance | $3,956 |
| All other expenses | $0 |
| Total functional expenses | $3,519,311 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $263,277 |
| Savings and temporary cash investments | $772,263 |
| Pledges and grants receivable | $42,387 |
| 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 | $37,057 |
| Net Land, buildings, and equipment | $63,401 |
| Investments—publicly traded securities | $6,758,571 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,936,956 |
| Accounts payable and accrued expenses | $69,769 |
| Grants payable | $0 |
| Deferred revenue | $262,141 |
| 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 | $331,910 |
| Net assets without donor restrictions | $6,235,079 |
| Net assets with donor restrictions | $1,369,967 |
| 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 | $7,936,956 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Friends Of The Hennepin County Library has recieved totaling $700.
| Awarding Organization | Amount |
|---|---|
Richter Family Foundation Hayward, WI PURPOSE: BUILD AWARENESS, ETC. FOR LIBRARIES | $500 |
Albright Foundation Edina, MN PURPOSE: CHARITABLE | $200 |
Endowment Analysis
| Beg. Balance | $1,483,038 |
| Earnings | $143,595 |
| Net Contributions | $1,500 |
| Grants | $110,697 |
| Ending Balance | $1,517,436 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Sioux Falls Christian Schools Association Sioux Falls, SD | $33,580,780 | $15,294,565 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |
University Of Wisconsin-Eau Claire Foundation Inc Eau Claire, WI | $103,402,476 | $22,599,486 |
Iowa State University Research Park Corp Ames, IA | $68,199,725 | $11,124,615 |
Minnesota State University Mankato Foundation Incorporated Mankato, MN | $77,015,205 | $9,285,148 |
University Gateway Corporation Minneapolis, MN | $78,655,248 | $6,023,242 |
Charles & Ellora Alliss Educational Foundation Milwaukee, WI | $87,576,345 | $9,781,011 |
Iowa High School Athleticassociation Boone, IA | $17,327,220 | $5,760,245 |
St Cloud State University Foundation Inc St Cloud, MN | $54,919,652 | $10,818,973 |