Civic Intelligence

Galesburg Public Library Foundation

EIN 32-0233242 • 501(c)3 • Galesburg, IL

Profile

To enhance library resources and services

40 E Simmons StreetGalesburg, IL 61401
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

22nd percentile

0.00x

Higher debt load relative to assets than 22% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

26th percentile

0.01x

Higher debt load relative to revenue than 26% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

28th percentile

-5.3%

Higher net margin than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

51st percentile

4.4%

Faster asset growth than 51% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

13th percentile

-23%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Up

$3,839,972

Up $117,633 (+3.2%) from 2023

Liabilities

Up

$4,860

Up $2,633 (+118%) from 2023

Net Assets

Up

$3,835,112

Up $115,000 (+3.1%) from 2023

Revenue

Up

$868,246

Up $10,950 (+1.3%) from 2023

Expenses

Up

$913,925

Up $80,632 (+9.7%) from 2023

Net Income

Down

-$45,679

Down $69,682 (-290%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2020: $7,614,755Liabilities 2020: $3,000,654Net Assets 2020: $4,614,1012020Assets 2021: $8,330,164Liabilities 2021: $3,000,344Net Assets 2021: $5,329,8202021Assets 2022: $3,521,615Liabilities 2022: $1,438Net Assets 2022: $3,520,1772022Assets 2023: $3,722,339Liabilities 2023: $2,227Net Assets 2023: $3,720,1122023Assets 2024: $3,839,972Liabilities 2024: $4,860Net Assets 2024: $3,835,1122024

Highlighted filing

2024

Assets$3,839,972
Liabilities$4,860
Net Assets$3,835,112

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2020: $243,239Expenses 2020: $199,899Net Income 2020: $43,3402020Revenue 2021: $748,769Expenses 2021: $247,926Net Income 2021: $500,8432021Revenue 2022: $1,452,495Expenses 2022: $2,726,577Net Income 2022: -$1,274,0822022Revenue 2023: $857,296Expenses 2023: $833,293Net Income 2023: $24,0032023Revenue 2024: $868,246Expenses 2024: $913,925Net Income 2024: -$45,6792024

Highlighted filing

2024

Revenue$868,246
Expenses$913,925
Net Income-$45,679

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2015
Return Version
2024v5.1
Gross Receipts
$868,246
Mission and Program Overview

Mission

To enhance library resources and services

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,136,604$2,400,433▲ $263,829
Other Notes and Loans Receivable, Net$1,000,000$1,000,000→ $0
Cash and Non-Interest-Bearing Accounts$502,773$392,583▼ $110,190
Savings and Temporary Cash Investments$80,494$45,092▼ $35,402
Pledges and Grants Receivable$1,060$1,060→ $0
Land, Buildings, and Equipment, Net$1,407$804▼ $603
Total Assets$3,722,338$3,839,972▲ $117,634
Liabilities
Other Liabilities$2,069$3,004▲ $935
Accounts Payable and Accrued Expenses$158$1,856▲ $1,698
Total Liabilities$2,227$4,860▲ $2,633
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,945,774$2,999,676▲ $53,902
Net Assets With Donor Restrictions$774,337$835,436▲ $61,099
Total Net Assets Fund Balance$3,720,111$3,835,112▲ $115,001
Total Liabilities and Net Assets / Fund Balance$3,722,338$3,839,972▲ $117,634

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$804$704-
Compensation and Service Providers

Employees

NameTitleBaseTotal
Heather SipesExecutive Director$36,700$36,700

Board Members and Trustees

NameTitle
Stuart AllisonPresident
Steve BaileyVice President
Abby ColvinTrustee
Kirk WatsonTrustee
Leann MorganTrustee
Mark StegallTrustee
Naomi LawTrustee
Semenya McCordTrustee
Sue DutellTrustee
Sue LyonTrustee
Michelle KrollSecretary
Martin ReichelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$779,891
Program Service Revenue
$0
Investment Income
$88,355
Other Revenue
$0
All Other Contributions
$779,891
Change in Net Assets
$-45,679

Audited Revenue Reconciliation

Revenue per Audited Statements
$811,385
Total Revenue per Audited Statements
$811,385
Total Revenue per Form 990
$811,385
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$873,472
Salaries, Compensation, and Employee Benefits$40,453
Total Fundraising Expense$10,325
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$792,194$9,108$6,586$792,194
Current Officers, Directors, Trustees, and Key Employees-$37,480-$37,480
Fees for Services Other-$22,492-$22,492
All Other Expenses$700$8,717$2,663$12,080
Office Expenses-$9,920$1,076$10,996
Advertising-$9,297-$9,297
Payroll Taxes-$2,973-$2,973
Depreciation Depletion-$603-$603
Travel-$349-$349
Interest-$147-$147
Total Functional Expenses$801,028$102,572$10,325$913,925

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$911,575
Total Expenses per Audited Statements$911,575
Total Expenses per Form 990$911,575
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Taxes$3,004
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

Draft copy of form 990 is given to the treasurer of the Galesburg Public Library Foundation for review and approval prior to submission.

Governing documents etc available to public Part VI line 19

Available upon request

Filing and Contact Details

Filer

Filer Name
Galesburg Public Library Foundation
EIN
32-0233242
In Care Of
% Heather Sipes
Phone
3093436118
Address
40 E Simmons Street, Galesburg, IL 61401

Signing Officer

Name
Heather Sipes
Title
Executive Director
Phone
3093436118
Signed
2015-05-15
Discuss with paid preparer
No

Organization Details

Formed
2009
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
12
Employees
2

Preparer

Firm
Innovative Solutions Accounting
Address
605 Corsair Court, Sykesville, MD 21784
Preparer
Mark Thomas CPA
Phone
4108028315
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/ExpensesSubtotalAmt0911575
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03004
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IRS990ScheduleD/RevenueSubtotalAmt0811385
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IRS990ScheduleD/TotalExpensesPerForm990Amt0911575
IRS990ScheduleD/TotalLiabilityAmt03004
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Draft copy of form 990 is given to the treasurer of the Galesburg Public Library Foundation for review and approval prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0801028
IRS990/TotalFunctionalExpensesGrp/TotalAmt0913925
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03722338
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