Midland County Public Library Foundation
- Assets
- $730.2k
- Revenue
- $418.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Midland, TX
- Founding
- 02/2013
- Data as of
- 12/2021
- EIN
- 46-0735772
Organization Overview
Midland County Public Library Foundation is located in Midland, TX. The organization was established in 2013. 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. Midland County Public Library Foundation 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, Midland County Public Library Foundation generated $418.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $336.7k during the year ending 12/2021. While expenses have increased by 1.0% 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
TO SUPPORT AND ENHANCE THE OPERATIONS, ACQUISITIONS, AND FUNDING OF PROJECTS AND PROGRAMS THAT ENCOURAGE LIFELONG LEARNING THROUGH THE MIDLAND COUNTY PUBLIC LIBRARY SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBRARY INTEREST AND DEVELOPMENT PROGRAMS THAT SUPPORT THE MISSION INCLUDE ANNUAL EXHIBITS, YOUTH ACTIVITIES, PROJECT LITERACY, AND OTHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Stonedale Executive Director | Officer | 40 | $79,800 |
Eric Rose Secretary | OfficerTrustee | 2 | $0 |
J Devin Alsup Treasurer | OfficerTrustee | 2 | $0 |
Stephen Robertson President | OfficerTrustee | 2 | $0 |
Mary Macferran Vice President | OfficerTrustee | 2 | $0 |
Tasa Richardson Director | 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 | $417,235 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $417,235 |
| Total Program Service Revenue | $12 |
| Investment income | $1,279 |
| 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 | $418,526 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $81,621 |
| Compensation of current officers, directors, key employees. | $4,081 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,105 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,333 |
| Advertising and promotion | $17,859 |
| Office expenses | $1,359 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,960 |
| 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 | $1,259 |
| All other expenses | $0 |
| Total functional expenses | $336,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,845 |
| Savings and temporary cash investments | $415,320 |
| 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 | $18,425 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $227,582 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $730,172 |
| 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 | $705,809 |
| Net assets with donor restrictions | $24,363 |
| 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 | $730,172 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Midland County Public Library Foundation has recieved totaling $48,066.
| Awarding Organization | Amount |
|---|---|
Helen Greathouse Charitable Trust Las Vegas, NV PURPOSE: GENERAL OPERATING | $20,000 |
Denver Foundation Denver, CO PURPOSE: THE BORN TO READ PROGRAM | $11,000 |
John And Maurine Cox Foundation Midland, TX PURPOSE: UNRESTRICTED | $10,000 |
Permian Basin Area Foundation Midland, TX PURPOSE: Educational | $6,045 |
Prairie Foundation Midland, TX PURPOSE: *SEE ABOVE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $21 |
Endowment Analysis
| Beg. Balance | $197,524 |
| Earnings | $35,003 |
| Net Contributions | $100 |
| Other Expense | $5,045 |
| Ending Balance | $227,582 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Arkansas Foundation Inc Fayetteville, AR | $2,089,992,333 | $297,590,096 |
Texas A & M Research Foundation College Station, TX | $17,651,760 | $64,742,890 |
Tiger Athletic Foundation Baton Rouge, LA | $492,455,521 | $67,955,012 |
Vanguard Academy Pharr, TX | $58,411,993 | $65,696,988 |
Southwestern Medical Foundation Dallas, TX | $1,318,497,986 | $133,001,887 |
Unm Rainforest Innovations Albuquerque, NM | $22,586,721 | $58,002,418 |
University Of New Mexico Foundation Incorporated Albuquerque, NM | $270,142,035 | $53,815,950 |
University Of Texas Foundation Austin, TX | $88,879,484 | $47,692,096 |
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
Southeastern Louisiana Area Health Education Center Natalbany, LA | $8,364,528 | $32,019,241 |
University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
Razorback Foundation Inc Fayetteville, AR | $72,537,377 | $26,130,749 |