Civic Intelligence

Long Beach Public Library Foundation

990 • Fiscal year 2018 • EIN 33-0698704

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 04, 2019

200 W BroadwayLong Beach, CA 90802

(562) 628-2441

Siviq Scores

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

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.02x

Higher debt load relative to revenue than 14% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

89th percentile

44%

Higher net margin than 89% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

51st percentile

$123,342

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

76th percentile

12%

Faster asset growth than 76% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

92nd percentile

80%

Faster revenue growth than 92% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Up

$9,151,084

Up $989,880 (+12%) from 2017

Net Assets

Up

$9,093,022

Up $966,089 (+12%) from 2017

Liabilities

Up

$58,062

Up $23,791 (+69%) from 2017

Revenue

Up

$3,541,521

Up $1,575,018 (+80%) from 2017

Expenses

Up

$1,978,003

Up $366,627 (+23%) from 2017

Net Income

Up

$1,563,518

Up $1,208,391 (+340%) from 2017

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

2018

Assets$9,151,084
Liabilities$58,062
Net Assets$9,093,022

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

2018

Revenue$3,541,521
Expenses$1,978,003
Net Income$1,563,518
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 4, 2019
Return Version
2018v3.1
Gross Receipts
$5,136,229
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$6,743,562$6,243,052▼ $500,510
Cash and Non-Interest-Bearing Accounts$265,961$2,249,521▲ $1,983,560
Savings and Temporary Cash Investments$722,584$359,315▼ $363,269
Pledges and Grants Receivable$409,043$275,110▼ $133,933
Prepaid Expenses and Deferred Charges$16,191$23,627▲ $7,436
Land, Buildings, and Equipment, Net$920$459▼ $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$8,161,204$9,151,084▲ $989,880
Other Assets Total$2,943$0▼ $2,943
Liabilities
Accounts Payable and Accrued Expenses$24,771$31,162▲ $6,391
Deferred Revenue$9,500$26,900▲ $17,400
Total Liabilities$34,271$58,062▲ $23,791
Net Assets / Fund Balance
Unrestricted Net Assets$3,620,302$3,279,542▼ $340,760
Temporarily Rstr Net Assets$1,742,194$2,922,646▲ $1,180,452
Permanently Rstr Net Assets$2,764,437$2,890,834▲ $126,397
Total Net Assets Fund Balance$8,126,933$9,093,022▲ $966,089
Total Liabilities and Net Assets / Fund Balance$8,161,204$9,151,084▲ $989,880

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$459$29,274$29,733
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katharine AzarExecutive DirectorFT$117,157$6,185$123,342

Board Members and Trustees

NameTitle
Margaret DurninChairmn,Endwmnt
Barbara SchwerinPresident
Jp ShotwellPresident
Gregory ZinbergVice President
Joshua NortonVice President
Lissette FloresVice President
Anil PandyaDirector
Carmen SnuggsDirector
Celine CorderoDirector
Charlyn BenderDirector
Danita HumphreyDirector
Erick Verduzco-vegaDirector
Jeff CarrickDirector
Joan Van HootenDirector
John McginnisDirector
Mary Lamo-putnamDirector
Nancy MerrillDirector
Russell ParsonsDirector
Ryan BallardDirector
Sean ReillyDirector
Sharon WeissmanDirector
Todd LemmisDirector
Renee SimonSecretary
John ArcosVP Programs
Revenue and Support

Revenue Composition

Contributions and Grants
$3,325,813
Program Service Revenue
$0
Investment Income
$218,651
Other Revenue
$-2,943
All Other Contributions
$3,191,828
Change in Net Assets
$1,563,518

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,507,088
Revenue Not Reported on Financial Statements
$34,433
Revenue Not Reported on Form 990
$-540,820
Total Revenue per Audited Statements
$2,966,268
Total Revenue per Form 990
$3,541,521
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,600,057
Salaries, Compensation, and Employee Benefits$356,946
Total Fundraising Expense$263,012
Professional Fundraising Fees$21,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,125$16,125$165,118$197,368
Current Officers, Directors, Trustees, and Key Employees$40,715$25,426$50,189$116,330
All Other Expenses$13,789$17,346$9,821$40,956
Office Expenses$3,964$28,443$3,335$35,742
Payroll Taxes$8,862$5,064$11,394$25,320
Fees for Services Professional Fundraising--$21,000$21,000
Other Expenses$18,947$663-$18,947
Other Employee Benefits$475$16,503$950$17,928
Fees for Services Accounting$5,838$10,757$1,205$17,800
Insurance-$5,085-$5,085
Fees for Services Other-$3,779-$3,779
Depreciation Depletion$369$92-$461
Total Functional Expenses$1,585,708$129,283$263,012$1,978,003

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,000,179
Expenses per Audited Statements$1,978,003
Total Expenses per Form 990$1,978,003
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$119,383
Fundraising Gross Income$119,383
Professional Fundraising Fees$21,000

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Fundraiser$251,456$119,383$83,261$36,122
Total Events$251,456$119,383$119,383-
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
200 W BROADWAY, LONG BEACH, CA 90802

Signing Officer

Name
Katharine Azar
Title
Executive Director
Signed
2019-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katharine Azar
Formed
1996
Legal Domicile
CA
Voting Board Members
24
Independent Board Members
24
Employees
4
Volunteers
39

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 Libraryb OTHER PROGRAM SERVICES 8: Keeping in line with the Long Beach Public Library Foundationb 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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