Friends Of Lake Forest Library Inc
- Assets
- $1.1m
- Revenue
- $150.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Lake Forest, IL
- Founding
- 05/1976
- Data as of
- 09/2022
- EIN
- 51-0188363
Organization Overview
Friends Of Lake Forest Library Inc is located in Lake Forest, IL. 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. Friends Of Lake Forest Library 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 09/2022, Friends Of Lake Forest Library Inc generated $150.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $70.1k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (9.6%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE AND SUPPORT THE MISSION, VISION AND SERVICES OF THE LAKE FOREST LIBRARY, AND ENGAGE IN RELATED EDUCATIONAL, CHARITABLE AND CULTURAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRIENDS NORMALLY CONDUCTS TWO USED BOOK SALES (USING DONATED BOOKS FROM LOCAL RESIDENTS) TO RAISE FUNDS TO PROVIDE LAKE FOREST LIBRARY WITH ADDITIONAL RESOURCES BEYOND TAX LEVIES: CHILDREN AND YOUTH READING PROGRAMS AND ADULT READING AND WRITING PROGRAMS.
AWARDED SCHOLARSHIPS TO THREE LAKE FOREST HIGH SCHOOL GRADUATING SENIORS FOR MERITORIOUS ESSAYS ON READING AND LITERATURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Liz Jacob Vice President | OfficerTrustee | 4 | $0 |
Marie Nemerov Treasurer | OfficerTrustee | 4 | $0 |
April Tompsidis Recording Secretary | OfficerTrustee | 4 | $0 |
Nancy Hensel Assistant Treasurer | OfficerTrustee | 4 | $0 |
Rowena Festin Membership Secretary | OfficerTrustee | 4 | $0 |
Tish Borkowski Co-President | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,529 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,991 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,520 |
| Total Program Service Revenue | $112,147 |
| Investment income | $5,670 |
| 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 | $150,346 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,580 |
| Grants and other assistance to domestic individuals. | $6,000 |
| 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 | $5,569 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $42 |
| Office expenses | $8,199 |
| Information technology | $686 |
| Royalties | $0 |
| Occupancy | $4,502 |
| 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 | $70,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $372,224 |
| 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 | $2,684 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $761,147 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,136,055 |
| Accounts payable and accrued expenses | $2,020 |
| Grants payable | $17,580 |
| 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 | $19,600 |
| Net assets without donor restrictions | $1,116,455 |
| 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 | $1,136,055 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Friends Of Lake Forest Library Inc has recieved totaling $6,500.
| Awarding Organization | Amount |
|---|---|
Negaunee Foundation Ltd Northbrook, IL PURPOSE: UNRESTRICTED USE | $5,000 |
The John And Kathleen Schreiber Foundation Lake Forest, IL PURPOSE: EXEMPT PURPOSE OF ORGANIZATION | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
William Rainey Harper College Educational Foundation Palatine, IL | $50,154,930 | $4,699,112 |
Clven National House Corporation Carmel, IN | $3,795,815 | $8,533,157 |
College Heights Foundation Inc Bowling Green, KY | $121,076,020 | $12,280,275 |
Northern Kentucky University Foundation Inc Highland Heights, KY | $152,385,239 | $8,696,843 |
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 |
Western Kentucky University Foundation Bowling Green, KY | $138,269,164 | $12,431,849 |
Charles & Ellora Alliss Educational Foundation Milwaukee, WI | $87,576,345 | $9,781,011 |
University Of Central Missouri Foundation Warrensburg, MO | $77,602,876 | $17,903,644 |