Free Library of Philadelphia Foundation

“The form 990 is reviewed by the audit committee and is then made available to the organization's governing body before being filed with the irs.”

“The chief financial officer is responsible for reviewing all contracts as well as identifying any possible conflicts of interest. Potential conflicts of interest are identified applying the prescibed procedures. The board of directors must annually certify their compliance with the conflict of interest policy.”

“The president and director are compensated by the city of philadelphia and all salary decisions are made by the board of trustees of the free library of philadelphia. Regarding other key officers, annually the foundation board of directors approves the collective salary rate increase for all employees of the organization for the upcoming fiscal year. Individual rate increases are then reviewed and approved by the director, chief financial officer and the hr manager. In addition, comparable salary data from organizations of similar size and purpose for similarly qualified individuals is used to determine the appropriate salary for new hires. The sources of that information are hr professional associations, and survey data from various other sources such as universities and employment agencies.”

“The organization makes its governing documents and financial statements available to the public upon request.”

“Conservation & preservation: program service expenses 293,639. Management and general expenses 0. Fundraising expenses 0. Total expenses 293,639. Temporary services: program service expenses 30,950. Management and general expenses 87,697. Fundraising expenses 5,938. Total expenses 124,585. Professional development: program service expenses 13,256. Management and general expenses 15,513. Fundraising expenses 69. Total expenses 28,838. Recruiting: program service expenses 1,997. Management and general expenses 1,533. Fundraising expenses 973. Total expenses 4,503. Payroll service: program service expenses 0. Management and general expenses 25,874. Fundraising expenses 0. Total expenses 25,874. Consulting: program service expenses 345,642. Management and general expenses 154,719. Fundraising expenses 85,074. Total expenses 585,435. Capital renovation: program service expenses 4,365,150. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,365,150.”

“BAD DEBT LOSS -316,430.”