Charleston Library Society
- Assets
- $14.3m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 19
- Location
- Charleston, SC
- Founding
- 03/1941
- Data as of
- 12/2021
- EIN
- 57-0314372
Organization Overview
Charleston Library Society is located in Charleston, SC. The organization was established in 1941. 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, Charleston Library Society employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charleston Library Society 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, Charleston Library Society generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 6.6% 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
FOUNDING IN 1748, THE CHARLESTON LIBRARY SOCIETY (THE SOCIETY) IS THE SOUTH'S OLDEST CULTURAL INSTITUTION AND THE SECOND OLDEST CIRCULATING LIBRARY IN THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBRARY COLLECTS, PRESERVES AND MAKES AVAILABLE CULTURAL MATERIALS FOR THE USE OF ITS MEMBERS AND RESEARCHERS AROUND THE WORLD. IN ADDITION, IT IS A CIRCULATING LIBRARY AND A REPOSITORY OF RARE BOOKS PERIODICALS, MANUSCRIPTS, CLIPPINGS, MAPS, DIRECTORIES, ALMANACS AND VISUAL MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Cleveland Executive Director | Officer | 45 | $162,425 |
Doerte Mcmanus Chief Operating Officer | 45 | $118,326 | |
Jerrold Mitchell President | OfficerTrustee | 4 | $0 |
Carol Sanford Secretary | OfficerTrustee | 4 | $0 |
Diana Hambleton Vice President | OfficerTrustee | 4 | $0 |
Jack Mcspadden Jr Treasurer | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Total Comfort Solutions Construction | 12/30/20 | $151,227 |
Palmetto Craftsmen Inc Construction | 12/30/20 | $936,034 |
Palmetto Craftsmen Inc Construction | 12/30/20 | $936,034 |
Total Comfort Solutions Construction | 12/30/20 | $151,227 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $523,640 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $404,423 |
| All other contributions, gifts, grants, and similar amounts not included above | $880,671 |
| Noncash contributions included in lines 1a–1f | $108,636 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,808,734 |
| Total Program Service Revenue | $63,299 |
| Investment income | $270,480 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $51,885 |
| Net Gain/Loss on Asset Sales | $1,078,663 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,273,061 |
| 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. | $162,425 |
| Compensation of current officers, directors, key employees. | $32,484 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $570,365 |
| Pension plan accruals and contributions | $36,470 |
| Other employee benefits | $90,111 |
| Payroll taxes | $56,787 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,122 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,023 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,955 |
| Office expenses | $31,900 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,965 |
| Travel | $263 |
| 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 | $263,436 |
| Insurance | $64,679 |
| All other expenses | $229,290 |
| Total functional expenses | $1,732,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,448,257 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,272 |
| 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 | $5,652,235 |
| Investments—publicly traded securities | $7,069,220 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,304,984 |
| Accounts payable and accrued expenses | $23,691 |
| Grants payable | $0 |
| Deferred revenue | $4,150 |
| 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 | $3,200 |
| Total liabilities | $31,041 |
| Net assets without donor restrictions | $11,875,792 |
| Net assets with donor restrictions | $2,398,151 |
| 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 | $14,304,984 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Charleston Library Society has recieved totaling $31,500.
| Awarding Organization | Amount |
|---|---|
Motamed Family Foundation Tr Kiawah Island, SC PURPOSE: GENERAL OPERATIONS | $25,000 |
Almeida Family Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $6,500 |
Endowment Analysis
| Beg. Balance | $1,773,882 |
| Earnings | $208,131 |
| Other Expense | $80,370 |
| Ending Balance | $1,901,643 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Building Equity Sooner For Tomarrow Greenville, SC | $493,697,004 | $17,744,355 |
Appalachian State University Foundation Inc Boone, NC | $159,413,962 | $18,404,104 |
University Of North Carolina Chapel Hill Arts And Sciences Foundation Chapel Hill, NC | $518,992,807 | $33,231,064 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
The Foundation Of The University Of North Carolina At Charlotte Inc Charlotte, NC | $296,107,277 | $34,157,132 |
College Of Charleston Foundation Charleston, SC | $165,475,152 | $11,402,265 |
Medical College Of Georgia Foundation Inc Augusta, GA | $352,081,028 | $12,607,438 |
East Carolina University Foundation Inc Greenville, NC | $186,990,398 | $28,752,906 |
Crossnore School Childrens Foundation Crossnore, NC | $37,541,780 | $0 |
James B Hunt Jr Institute For Educational Leadership And Policy Cary, NC | $11,369,627 | $8,988,543 |