Chesapeake Public Library Foundation
- Assets
- $506.1k
- Revenue
- $128.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Chesapeake, VA
- Founding
- 02/1998
- Data as of
- 12/2021
- EIN
- 54-1839433
Organization Overview
Chesapeake Public Library Foundation is located in Chesapeake, VA. The organization was established in 1998. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Chesapeake 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, Chesapeake Public Library Foundation generated $128.9k 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 $44.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.5%) 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
THE PRIMARY EXEMPT PURPOSE OF THIS ORGANIZATION IS TO SUPPORT THE LITERARY AND EDUCATIONAL NEEDS OF THE CITY OF CHESAPEAKE, VA THROUGH THE CITY PUBLIC LIBRARIES' TECHNOLOGY PROGRAMMING,AS WELL AS AWARENESS CAMPAIGNS, FUND RAISING AND OUTREACH THAT COMPLEMENTS THE CITY'S ESTABLISHED PROGRAMS AND FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARTNERSHIP WITH DOLLY PARTON IMAGINATION LIBRARY BOOK PROGRAM FOR CHESAPEAKE FAMILIES WITH CHILDREN 5 AND UNDER. THEY RECEIVE A NEW BOOK MAILED TO THEM EACH QUARTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Lynch Treasurer | OfficerTrustee | 3 | $0 |
Kris B France Secretary | OfficerTrustee | 1 | $0 |
Stephanie Cobb Chairman | OfficerTrustee | 5 | $0 |
Stuart Glasser Emeritus Director | Trustee | 0 | $0 |
Amanda Jackson Library Director | Trustee | 0 | $0 |
C Edward Russell Jr Emeritus Director | Trustee | 0 | $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 | $13,863 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,863 |
| Total Program Service Revenue | $0 |
| Investment income | $17,674 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $96,784 |
| Net Income from Fundraising Events | $559 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,880 |
| 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. | $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 | $1,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,357 |
| Fees for services: Other | $0 |
| Advertising and promotion | $400 |
| Office expenses | $711 |
| 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 | $37,545 |
| Total functional expenses | $44,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,039 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $493,029 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $506,068 |
| 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 | $177,974 |
| Net assets with donor restrictions | $328,094 |
| 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 | $506,068 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chesapeake Public Library Foundation has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Givens Foundation Chesapeake, VA PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $500 |
Endowment Analysis
| Beg. Balance | $278,634 |
| Earnings | $77,393 |
| Admin Expense | $2,933 |
| Other Expense | $25,000 |
| Ending Balance | $328,094 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Building Hope Finance Washington, DC | $123,995,340 | $7,003,194 |
Nc State Engineering Foundation Inc Raleigh, NC | $172,988,383 | $18,412,442 |
Dc Public Education Fund Washington, DC | $19,324,284 | $7,024,090 |
St Christophers School Foundation Richmond, VA | $94,106,126 | $9,680,251 |
National Automatic Sprinkler 669 Va Education Fund Columbia, MD | $15,668,623 | $8,120,660 |
United States Japan Foundation Owings Mills, MD | $106,169,200 | $4,759,214 |
Lowes Foundation Mooresville, NC | $8,794,184 | $2,155,365 |
Knox Education Foundation Knoxville, TN | $6,393,317 | $5,852,579 |
St Stephen S And St Agnes School Foundation Alexandria, VA | $47,445,810 | $11,356,184 |
St Georges Independent Schools Foundation Collierville, TN | $31,055,433 | $2,932,779 |
Charles B Keesee Educational Fund Incorporated Martinsville, VA | $78,271,755 | $5,985,709 |
James Barry Robinson Home For Boys Trust Norfolk, VA | $49,691,285 | $5,553,084 |