Anchorage Library Foundation
- Assets
- $14.9m
- Revenue
- $452.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Anchorage, AK
- Founding
- 10/1981
- Data as of
- 12/2021
- EIN
- 92-0081583
Organization Overview
Anchorage Library Foundation is located in Anchorage, AK. The organization was established in 1981. 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. Anchorage 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, Anchorage Library Foundation generated $452.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $309.2k during the year ending 12/2021. 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
BELIEVING THAT FREE PUBLIC LIBRARIES ARE ESSENTIAL TO OUR COMMUNITY, THE ANCHORAGE LIBRARY FOUNDATION WORKS TO PROMOTE, FUND AND SUPPORT THE LONG- TERM VITALITY OF THE ANCHORAGE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANCHORAGE LIBRARY RENEWAL INITIATIVE: THE GOAL OF THE INITIATIVE IS TO BUILD MODERN LIBRARIES THAT ENCOURAGE LIFELONG LEARNING AND COMMUNITY ENGAGEMENT, AND REFLECT THE DIVERSITY OF ANCHORAGE'S NEIGHBORHOODS AND RESIDENTS. THIS MULTI-YEAR PROGRAM ENVISIONS RENOVATIONS AND/OR UPGRADES TO ANCHORAGE PUBLIC LIBRARY FACILITIES, AS WELL AS INVESTMENT IN NEW PROGRAMS AND ACTIVITES. CURRENT PROJECTS INCLUDE BUILDING A NEW ALASKA ROOM AT LOUSSAC LIBRARY, THE SOCIAL WORKER IN THE LIBRARY, AND FURNITURE AND EQUIPMENT UPGRADES AT NEIGHBORHOOD LIBRARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Keates Treasurer | OfficerTrustee | 4 | $0 |
Chelsea Ray Riekkola Secretary | OfficerTrustee | 2 | $0 |
Kim Hays President | OfficerTrustee | 4 | $0 |
Chris Vaughan Vice Preside | OfficerTrustee | 2 | $0 |
Deborah Mole Trustee | Trustee | 2 | $0 |
Mary Rasmussen Trustee | Trustee | 2 | $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 | $233,091 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $233,091 |
| Total Program Service Revenue | $0 |
| Investment income | $218,976 |
| 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 | $452,067 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $140,665 |
| 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 | $10,664 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,195 |
| Fees for services: Other | $26,208 |
| Advertising and promotion | $408 |
| Office expenses | $16,404 |
| Information technology | $633 |
| 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 | $2,232 |
| All other expenses | $0 |
| Total functional expenses | $309,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $216,808 |
| Savings and temporary cash investments | $800,099 |
| Pledges and grants receivable | $5,442 |
| 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 | $366 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,428,137 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,446,311 |
| Total assets | $14,897,163 |
| Accounts payable and accrued expenses | $12,226 |
| 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 | $12,226 |
| Net assets without donor restrictions | $917,672 |
| Net assets with donor restrictions | $13,967,265 |
| 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 | $14,897,163 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Anchorage Library Foundation has recieved totaling $84,629.
| Awarding Organization | Amount |
|---|---|
Barney And Rachel Gottstein Caritable Foundation San Francisco, CA PURPOSE: THE RECONSTRUCTION OF THE ALASKA ROOM AT THE ANCHORAGE PUBLIC LIBRARY | $49,168 |
Gottstein Family Foundation Anchorage, AK PURPOSE: THE GRANT WAS TO A PUBLIC CHARITY TO SUPPORT ITS GENERAL CHARITABLE PURPOSE. | $8,000 |
Alaska Community Foundation Anchorage, AK | | $7,750 |
Kumin Foundation Anchorage, AK PURPOSE: ONLINE RESOURCES | $7,550 |
Verizon Foundation Basking Ridge, NJ PURPOSE: YOUTH EDUCATIONAL DIGITAL MATERIALS | $7,000 |
Carr Foundation Inc Anchorage, AK PURPOSE: SUPPORT GENERAL CHARITABLE PURPOSES. | $5,000 |
Endowment Analysis
| Beg. Balance | $729,109 |
| Earnings | $60,968 |
| Admin Expense | $6,594 |
| Ending Balance | $783,483 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Alaska Foundation Anchorage, AK | $433,420,168 | $30,048,910 |
Choice Regional Health Network Olympia, WA | $24,377,222 | $13,582,793 |
Seattle Public Library Foundation Seattle, WA | $96,431,810 | $10,213,683 |
Clark Community College District 14 Foundation Vancouver, WA | $121,917,031 | $11,491,033 |
Central Washington University Foundation Ellensburg, WA | $48,919,247 | $7,605,095 |
Green River College Foundation Auburn, WA | $36,981,286 | $4,351,003 |
Regent College Foundation Seattle, WA | $182,703 | $2,359,102 |
Skagit Valley College Foundation C-12 Campus Center Building Mount Vernon, WA | $21,510,181 | $4,966,852 |
Bellevue College Foundation Bellevue, WA | $20,830,969 | $3,738,289 |
Gonzaga Law School Foundation Spokane, WA | $33,516,870 | $3,721,030 |
University Club -Of Seattle- Seattle, WA | $5,781,343 | $2,415,827 |
Central Washington School Employees Benefit Trust Yakima, WA | $0 | $1,235,104 |