Milwaukee Public Library Foundation Inc
- Assets
- $5.2m
- Revenue
- $1.8m
- Investments
- $38.5k
- Employees
- 7
- Location
- Milwaukee, WI
- Founding
- 05/1988
- Data as of
- 12/2021
- EIN
- 39-1610233
Organization Overview
Milwaukee Public Library Foundation Inc is located in Milwaukee, WI. The organization was established in 1988. 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, Milwaukee Public Library Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milwaukee Public Library Foundation Inc 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, Milwaukee Public Library Foundation Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. 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
TO ADVANCE THE LONG-RANGE GOALS OF THE MILWAUKEE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MILWAUKEE PUBLIC LIBRARY FOUNDATION CONTINUES ITS ORIGINAL VISION OF GENERATING PRIVATE-SECTOR SUPPORT TO SUPPLEMENT TAX-BASED FUNDING. THE RESULT HAS BEEN IMPROVED COLLECTIONS, EXPANDED PROGRAMS, ENHANCED SERVICES, AND RENOVATED BUILDINGS.MILWAUKEE PUBLIC LIBRARY FOUNDATION, INC. SUPPORTS CRITICAL RESOURCES INSTRUMENTAL IN PROVIDING INSPIRATION AND OPPORTUNITY FOR ALL WHO RELY ON THE LIBRARY TO IMPROVE THEIR DAILY LIVES. BECAUSE OF YOUR SUPPORT, MILWAUKEE PUBLIC LIBRARY IS A SOURCE OF KNOWLEDGE, EMPOWERMENT, AND ENRICHMENT; OFFERED TO EVERY CITIZEN WALKING THROUGH ITS DOORS - FOR MORE THAN 2 MILLION ANNUAL VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan E Daniels Executive Director | Officer | 40 | $156,169 |
Mary Sprague President | OfficerTrustee | 1 | $0 |
James Kornfeld Vice President | OfficerTrustee | 1 | $0 |
Eve Romersi Treasurer | OfficerTrustee | 1 | $0 |
Matthew Simon Secretary | OfficerTrustee | 1 | $0 |
David Baum Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $254,050 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,273,755 |
| Noncash contributions included in lines 1a–1f | $520 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,527,805 |
| Total Program Service Revenue | $0 |
| Investment income | $51,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $185,825 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,765,379 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $659,563 |
| 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. | $193,766 |
| Compensation of current officers, directors, key employees. | $67,818 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $247,754 |
| Pension plan accruals and contributions | $17,180 |
| Other employee benefits | $70,938 |
| Payroll taxes | $32,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $53,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,833 |
| Fees for services: Other | $27,098 |
| Advertising and promotion | $0 |
| Office expenses | $43,841 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,948 |
| 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 | $1,059 |
| Insurance | $593 |
| All other expenses | $7,886 |
| Total functional expenses | $1,393,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165 |
| Savings and temporary cash investments | $693,227 |
| Pledges and grants receivable | $829,780 |
| Accounts receivable, net | $4,433 |
| 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 | $4,932 |
| Net Land, buildings, and equipment | $14,197 |
| Investments—publicly traded securities | $2,493,879 |
| Investments—other securities | $38,483 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,073,268 |
| Total assets | $5,152,364 |
| Accounts payable and accrued expenses | $48,667 |
| 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 | $48,667 |
| Net assets without donor restrictions | $621,537 |
| Net assets with donor restrictions | $4,482,160 |
| 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 | $5,152,364 |
Grants Recieved
Over the last fiscal year, we have identified 25 grants that Milwaukee Public Library Foundation Inc has recieved totaling $580,066.
| Awarding Organization | Amount |
|---|---|
Greater Milwaukee Foundation Inc Milwaukee, WI PURPOSE: SUSTAINING SUPPORT | $80,284 |
Greater Milwaukee Foundation Inc Milwaukee, WI PURPOSE: SUSTAINING SUPPORT | $80,284 |
Richard And Ethel Herzfeld Foundation Inc Milwaukee, WI PURPOSE: EDUCATION - READY TO READ PROGRAM SUPPORT 2021 | $80,000 |
Lynde And Harry Bradley Foundation Inc Milwaukee, WI PURPOSE: TO SUPPORT GENERAL OPERATIONS | $75,000 |
Lynde And Harry Bradley Foundation Inc Milwaukee, WI PURPOSE: TO SUPPORT GENERAL OPERATIONS | $75,000 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $40,500 |
Endowment Analysis
| Beg. Balance | $1,508,933 |
| Earnings | $217,665 |
| Net Contributions | $219,149 |
| Grants | $222,084 |
| Ending Balance | $1,723,663 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Eastern Michigan University Foundation Ypsilanti, MI | $82,145,619 | $14,420,618 |
Michigan Tech Fund Houghton, MI | $217,061,508 | $42,674,434 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grand Rapids Community College Foundation Grand Rapids, MI | $37,079,013 | $9,829,978 |
Christian Schools International Insurance Plan And Trust Fund Grandville, MI | $5,188,497 | $9,699,281 |
Saginaw Valley State University Foundation University Center, MI | $94,804,323 | $8,609,845 |