River Falls Library Foundation Inc
- Assets
- $1.1m
- Revenue
- $12.5k
- Investments
- $0.0
- Employees
- 0
- Location
- River Falls, WI
- Founding
- 05/1990
- Data as of
- 12/2021
- EIN
- 39-1651737
Organization Overview
River Falls Library Foundation Inc is located in River Falls, WI. The organization was established in 1990. 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. River Falls 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, River Falls Library Foundation Inc generated $12.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.9%) each year. All expenses for the organization totaled $18.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.3%) per year over the past 7 years. 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 SUPPORT THE RIVER FALLS LIBRARY IN ITS EFFORTS TO ENRICH LIVES AND BUILD COMMUNITY BY CONNECTING PEOPLE WITH INFORMATION, IDEAS, SPACES, AND OPPORTUNITIES WHILE RESPONSIBLY MANAGING FUNDS CONTRIBUTED TO THE FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WORKS WITH THE LIBRARY STAFF TO PROVIDE PROGRAM AND TECHNOLOGY SUPPORT BY APPROVING REQUESTS. THE LIBRARY DIRECTOR AND STAFF PRIORITIZE AND BRING REQUESTS TO THE FOUNDATION FOR APPROVAL AND PAYMENT. INVOICES FOR BOOKS, MATERIALS, SPEAKERS, AND OTHER PROGRAMMING ARE PAID THROUGHOUT THE YEAR AS NEEDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsy Weterhaus Vice President | OfficerTrustee | 1 | $0 |
Kay Montgomery President | OfficerTrustee | 1 | $0 |
Rita Kozak Thru May '21 Treasurer | OfficerTrustee | 3 | $0 |
Tony Pedriana Secretary | OfficerTrustee | 1 | $0 |
Mae Wolfe Treasurer | OfficerTrustee | 5 | $0 |
Marilyn Plansky Director (thru Dec '21) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $800 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,649 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,449 |
| Total Program Service Revenue | $0 |
| Investment income | $1,079 |
| 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 | $12,528 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,477 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6 |
| Information technology | $0 |
| 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 | $6,381 |
| Total functional expenses | $18,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,404 |
| Savings and temporary cash investments | $108,959 |
| 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 | $954,240 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6 |
| Total assets | $1,065,609 |
| Accounts payable and accrued expenses | $112 |
| 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 | $112 |
| Net assets without donor restrictions | $1,065,497 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,065,609 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that River Falls Library Foundation Inc has recieved totaling $26.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $26 |
Endowment Analysis
| Beg. Balance | $848,526 |
| Earnings | $117,307 |
| Admin Expense | $11,594 |
| Ending Balance | $954,239 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
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 |
Blanche Ebert Seaver Trust For Frank R Seaver College Chicago, IL | $130,613,951 | $5,090,055 |
Detroit Public Schools Foundation Detroit, MI | $5,212,797 | $6,732,219 |
William Rainey Harper College Educational Foundation Palatine, IL | $50,154,930 | $4,699,112 |
Rochelle Zell Jewish High School Deerfield, IL | $17,970,776 | $8,473,073 |
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 |