Civic Intelligence

Long Beach Public Library Foundation

990 • Fiscal year 2017 • EIN 33-0698704

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 29, 2018

101 Pacific AvenueLong Beach, CA 90822

(562) 628-2441

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

13th percentile

0.00x

Higher debt load relative to assets than 13% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

13th percentile

0.02x

Higher debt load relative to revenue than 13% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

48th percentile

$117,522

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

71st percentile

11%

Faster asset growth than 71% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

23rd percentile

-6.0%

Faster revenue growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$8,161,204

Up $826,104 (+11%) from 2016

Net Assets

Up

$8,126,933

Up $866,138 (+12%) from 2016

Liabilities

Down

$34,271

Down $40,034 (-54%) from 2016

Revenue

Down

$1,966,503

Down $126,345 (-6.0%) from 2016

Expenses

Up

$1,611,376

Up $310,587 (+24%) from 2016

Net Income

Down

$355,127

Down $436,932 (-55%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2012: $3,778,750Liabilities 2012: $23,612Net Assets 2012: $3,755,1382012Assets 2013: $4,920,306Liabilities 2013: $23,987Net Assets 2013: $4,896,3192013Assets 2014: $6,321,408Liabilities 2014: $16,955Net Assets 2014: $6,304,4532014Assets 2015: $6,340,985Liabilities 2015: $10,774Net Assets 2015: $6,330,2112015Assets 2016: $7,335,100Liabilities 2016: $74,305Net Assets 2016: $7,260,7952016Assets 2017: $8,161,204Liabilities 2017: $34,271Net Assets 2017: $8,126,9332017Assets 2018: $9,151,084Liabilities 2018: $58,062Net Assets 2018: $9,093,0222018Assets 2019: $10,519,950Liabilities 2019: $28,243Net Assets 2019: $10,491,7072019Assets 2020: $12,688,271Liabilities 2020: $27,884Net Assets 2020: $12,660,3872020Assets 2021: $12,984,764Liabilities 2021: $64,762Net Assets 2021: $12,920,0022021Assets 2022: $10,849,859Liabilities 2022: $34,179Net Assets 2022: $10,815,6802022Assets 2023: $11,346,348Liabilities 2023: $36,246Net Assets 2023: $11,310,1022023Assets 2024: $13,713,555Liabilities 2024: $63,600Net Assets 2024: $13,649,9552024

Highlighted filing

2017

Assets$8,161,204
Liabilities$34,271
Net Assets$8,126,933

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2012: $878,4042012Revenue 2013: $2,236,743Expenses 2013: $1,221,653Net Income 2013: $1,015,0902013Revenue 2014: $2,637,435Expenses 2014: $1,255,901Net Income 2014: $1,381,5342014Revenue 2015: $1,450,160Expenses 2015: $1,096,994Net Income 2015: $353,1662015Revenue 2016: $2,092,848Expenses 2016: $1,300,789Net Income 2016: $792,0592016Revenue 2017: $1,966,503Expenses 2017: $1,611,376Net Income 2017: $355,1272017Revenue 2018: $3,541,521Expenses 2018: $1,978,003Net Income 2018: $1,563,5182018Revenue 2019: $2,488,326Expenses 2019: $1,934,914Net Income 2019: $553,4122019Revenue 2020: $3,916,602Expenses 2020: $1,931,171Net Income 2020: $1,985,4312020Revenue 2021: $1,189,781Expenses 2021: $1,582,988Net Income 2021: -$393,2072021Revenue 2022: $891,510Expenses 2022: $1,615,744Net Income 2022: -$724,2342022Revenue 2023: $1,273,849Expenses 2023: $1,460,828Net Income 2023: -$186,9792023Revenue 2024: $3,159,705Expenses 2024: $1,741,057Net Income 2024: $1,418,6482024

Highlighted filing

2017

Revenue$1,966,503
Expenses$1,611,376
Net Income$355,127
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 29, 2018
Return Version
2017v2.2
Gross Receipts
$3,487,496
Mission and Program Overview

Mission

The long beach public library foundation provides support to enhance the long beach public library and encourages literacy and education for all members of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,220,921$6,743,562▲ $1,522,641
Savings and Temporary Cash Investments$1,002,144$722,584▼ $279,560
Pledges and Grants Receivable$641,130$409,043▼ $232,087
Cash and Non-Interest-Bearing Accounts$464,672$265,961▼ $198,711
Prepaid Expenses and Deferred Charges$1,632$16,191▲ $14,559
Land, Buildings, and Equipment, Net$1,381$920▼ $461
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$7,335,100$8,161,204▲ $826,104
Other Assets Total$3,220$2,943▼ $277
Liabilities
Accounts Payable and Accrued Expenses$74,305$24,771▼ $49,534
Deferred Revenue-$9,500-
Total Liabilities$74,305$34,271▼ $40,034
Net Assets / Fund Balance
Unrestricted Net Assets$2,866,556$3,620,302▲ $753,746
Permanently Rstr Net Assets$2,737,337$2,764,437▲ $27,100
Temporarily Rstr Net Assets$1,656,902$1,742,194▲ $85,292
Total Net Assets Fund Balance$7,260,795$8,126,933▲ $866,138
Total Liabilities and Net Assets / Fund Balance$7,335,100$8,161,204▲ $826,104

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$920$28,813$29,733
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katharine AzarExecutive DirectorFT$106,877$10,645$117,522

Board Members and Trustees

NameTitle
Margaret DurninChairmn,Endwmnt
Redfield SusanPresident
Susan RedfieldPresident
Barbara SchwerinPresident Elect
Anil PandyaDirector
Dee AbrahamseDirector
Jack IrvinDirector
John McginnisDirector
Joshua NortonDirector
Jp ShotwellDirector
Kay TortoriceDirector
Kim NeiplingDirector
Lance AdamsDirector
Lissette FloresDirector
Mary HindsDirector
Mary Lamo-putnamDirector
Nancy MerrillDirector
Renee SimonDirector
Rick AlsagoffDirector
Russell ParsonsDirector
Ryan BallardDirector
Susan DelandDirector
Sharon WeissmanVP Board Dev
Danita HumphreySecretary
Lynn ShrumVP of Funds Dev
John ArcosVP Programs
Margaret SmithVP Pub Affairs
Lorrie HuttonVP-Finance
Revenue and Support

Revenue Composition

Contributions and Grants
$1,710,253
Program Service Revenue
$0
Investment Income
$256,527
Other Revenue
$-277
All Other Contributions
$1,587,021
Change in Net Assets
$355,127

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,934,743
Revenue Not Reported on Financial Statements
$31,760
Revenue Not Reported on Form 990
$564,947
Total Revenue per Audited Statements
$2,499,690
Total Revenue per Form 990
$1,966,503
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,241,568
Salaries, Compensation, and Employee Benefits$348,808
Total Fundraising Expense$260,414
Professional Fundraising Fees$21,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,119$19,119$152,952$191,190
Current Officers, Directors, Trustees, and Key Employees$40,193$22,968$51,677$114,838
Office Expenses$3,843$27,575$3,233$34,651
All Other Expenses$4,878$17,992$10,476$33,346
Payroll Taxes$4,962$3,521$17,118$25,601
Fees for Services Accounting$6,270$12,480$2,850$21,600
Fees for Services Professional Fundraising--$21,000$21,000
Other Employee Benefits$456$15,813$910$17,179
Other Expenses$17,100$416$198$17,100
Insurance-$4,770-$4,770
Fees for Services Other-$3,132-$3,132
Depreciation Depletion$369$92-$461
Total Functional Expenses$1,223,084$127,878$260,414$1,611,376

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,633,552
Expenses per Audited Statements$1,611,376
Total Expenses per Form 990$1,611,376
Expenses Not Reported on Form 990$22,176
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$120,767
Fundraising Gross Income$120,767
Professional Fundraising Fees$21,000

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Fundraiser$243,999$120,767$35,805$84,962
Total Events$243,999$120,767$120,767-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

A draft copy of the form 990 was provided to management and the board treasurer for its review before the final version was prepared by the auditors for signature and filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

A conflict of interest policy is distributed and signed annually by all board members.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The bod treasurer and the executive committee are able to check with the non-profit partnership and the association of small foundations for comparable salary data. During the review process, the board president asks for feedback from all directors regarding compensation, and then documents the review, goals, score, and any increase in compensation.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The executive director works within the budget she is given.to determine the executive assistant's salary

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Long Beach Public Library Foundation
EIN
33-0698704
Phone
5626282441
Address
101 PACIFIC AVENUE, LONG BEACH, CA 90822

Signing Officer

Name
Katharine Azar
Title
Executive Director
Signed
2018-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katharine Azar
Formed
1996
Legal Domicile
CA
Voting Board Members
25
Independent Board Members
25
Employees
5
Volunteers
15

Preparer

Firm
Guzman & Gray Certified Public Accountants
Address
4510 E Pacific Coast Highway Suite, Long Beach, CA 90804
Preparer
Patrick S Guzman CPA
Phone
5624980997
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Dictionary Day: In partnership with the Earl B. and Loraine H. Miller Foundation, the Library Foundation purchases and distributes a dictionary/thesaurus to every third-grader (typically around 5,600-5,700) in the Long Beach Unified School District. Word-themed events in branch libraries surround the distribution, engaging students and their families, bringing them into the library and instilling in them a love of reading and literacy. OTHER PROGRAM SERVICES 5: The Librarys annual 8-week Summer Reading Program is designed to encourage youth and their families to read regularly each day over school break, preventing summer slide. The Programs community outreach events through the Long Beach Department of Parks and Recreation are designed to engage children who are not already coming into the library. OTHER PROGRAM SERVICES 6: Senior Services: A large estate gift provides endowment interest to support the ongoing operational support for programs and services the senior library patrons, including the Homebound Reader program. The Homebound Reader program allows people who cannot visit the library, the opportunity to have personally selected books and materials delivered straight to their place of residence on a regular basis. OTHER PROGRAM SERVICES 7: Career Online High School: The Library Foundation also supports the Librarys world of free online resources, including Career Online High School (a counselor-guided program which provides adults with a second chance to achieve a true high school diploma), Brainfuse Job Now (free job skills and rsum assistance), Brainfuse Help Now (live online homework help from tutors) and other programs for developing business skills, learning languages, downloading e-books, and screening films. OTHER PROGRAM SERVICES 8: Keeping in line with the Long Beach Public Library Foundations mission, our Foundation engages in advocacy activities to ensure the Library is well-funded by the City and open and available to all members of the community. The Library is a city department and primarily funded by the citys general fund, this means we spend time building relationships with key city leaders, namely the Mayor and City Council members, and making public comment at City Council meetings, particularly around budget season during which the Council votes on the Library budget. We also build relationships and promote the library with other electeds such as school board members. In addition, we support advocacy initiatives for national and state-wide library funding. OTHER PROGRAM SERVICES 9: MAYOR'S BOOK CLUB:THE MAYOR MAKES AN ANNOUNCEMENT FOR LONG BEACH TO READ A BOOK FROM AN AUTHOR (USUALLY A LONG BEACH RESIDENT). AT THE END OF THE SPECIIFC PERIOD OF TIME THE MAYOR HOSTS A DISCUSSION WITH THE AUTHOR AND AN AUDIENCE, WHO READ THE BOOK. IN THE SAME CATEGORY WE PUT MAYOR'S 2 YEARS IN THE OFFICE CELEBRATION AND YEARLY STATE OF THE CITY EVENT, WE USUALLY GET SPONSORS TO PAY FOR VENUE, REFERESHMENTS, AND FOOD.

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

The foundation has five main categories that all of its named endowment funds fall into:library books and materials:interest is given to the library to purchase books and materialsfamily learning centers: interest is used to support the family learning centers, a library-based foundation program. Costs include learning guides, supplies, materials and computer and software licenses.mark twain family learning center:interest is used to support the jean and charles lane family learning center at the mark twain library, the library's largest and most heavily used family learning center.senior services:interest is used to support library programs and services that benefit the senior population in long beach.literacy:interest is used to support library programs, services and materials that promote and build literacy skills for people of all ages.

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