Civic Intelligence

Charleston Library Society

990 • Fiscal year 2016 • EIN 57-0314372

Jan 01, 2016 to Dec 31, 2016 • Filed on Feb 27, 2017

164 King StreetCharleston, SC 29401

(843) 723-9912

Siviq Scores

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

Liabilities / Assets

14th percentile

0.01x

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

18th percentile

0.04x

Higher debt load relative to revenue than 18% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

34th percentile

-1.4%

Higher net margin than 34% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

52nd percentile

$124,231

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 11.1% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

40th percentile

-0.5%

Faster asset growth than 40% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

78th percentile

19%

Faster revenue growth than 78% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$7,251,243

Down $36,805 (-0.5%) from 2015

Net Assets

Down

$7,207,054

Down $22,831 (-0.3%) from 2015

Liabilities

Down

$44,189

Down $13,974 (-24%) from 2015

Revenue

Up

$1,123,537

Up $182,775 (+19%) from 2015

Expenses

Up

$1,139,477

Up $34,631 (+3.1%) from 2015

Net Income

Up

-$15,940

Up $148,144 (+90%) from 2015

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2011: $6,457,041Liabilities 2011: $13,287Net Assets 2011: $6,443,7542011Assets 2012: $7,016,479Liabilities 2012: $25,944Net Assets 2012: $6,990,5352012Assets 2013: $7,645,019Liabilities 2013: $15,941Net Assets 2013: $7,629,0782013Assets 2014: $7,761,238Liabilities 2014: $13,864Net Assets 2014: $7,747,3742014Assets 2015: $7,288,048Liabilities 2015: $58,163Net Assets 2015: $7,229,8852015Assets 2016: $7,251,243Liabilities 2016: $44,189Net Assets 2016: $7,207,0542016Assets 2017: $9,059,260Liabilities 2017: $967,389Net Assets 2017: $8,091,8712017Assets 2018: $9,912,702Liabilities 2018: $712,152Net Assets 2018: $9,200,5502018Assets 2019: $12,296,233Liabilities 2019: $222,012Net Assets 2019: $12,074,2212019Assets 2020: $13,479,578Liabilities 2020: $213,358Net Assets 2020: $13,266,2202020Assets 2021: $14,304,984Liabilities 2021: $31,041Net Assets 2021: $14,273,9432021Assets 2022: $13,337,092Liabilities 2022: $296,924Net Assets 2022: $13,040,1682022Assets 2023: $14,258,451Liabilities 2023: $31,170Net Assets 2023: $14,227,2812023Assets 2024: $15,012,678Liabilities 2024: $42,067Net Assets 2024: $14,970,6112024

Highlighted filing

2016

Assets$7,251,243
Liabilities$44,189
Net Assets$7,207,054

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $783,9582011Revenue 2012: $851,638Expenses 2012: $795,028Net Income 2012: $56,6102012Revenue 2013: $1,046,974Expenses 2013: $844,881Net Income 2013: $202,0932013Revenue 2014: $1,093,880Expenses 2014: $969,651Net Income 2014: $124,2292014Revenue 2015: $940,762Expenses 2015: $1,104,846Net Income 2015: -$164,0842015Revenue 2016: $1,123,537Expenses 2016: $1,139,477Net Income 2016: -$15,9402016Revenue 2017: $1,796,371Expenses 2017: $1,282,631Net Income 2017: $513,7402017Revenue 2018: $3,273,209Expenses 2018: $1,448,413Net Income 2018: $1,824,7962018Revenue 2019: $3,487,010Expenses 2019: $1,441,707Net Income 2019: $2,045,3032019Revenue 2020: $2,047,004Expenses 2020: $1,476,711Net Income 2020: $570,2932020Revenue 2021: $3,273,061Expenses 2021: $1,732,571Net Income 2021: $1,540,4902021Revenue 2022: $1,787,905Expenses 2022: $2,001,783Net Income 2022: -$213,8782022Revenue 2023: $2,362,251Expenses 2023: $1,926,729Net Income 2023: $435,5222023Revenue 2024: $2,496,320Expenses 2024: $2,155,557Net Income 2024: $340,7632024

Highlighted filing

2016

Revenue$1,123,537
Expenses$1,139,477
Net Income-$15,940
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Feb 27, 2017
Return Version
2016v3.0
Gross Receipts
$8,876,305
Mission and Program Overview

Mission

Founding in 1748, the charleston library society (the society) is the south's oldest cultural institution and the second oldest circulating library in the united states.

Founding in 1748, the charleston library society (the society) is the south's oldest cultural

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,933,620$5,839,307▼ $94,313
Land, Buildings, and Equipment, Net$1,197,801$1,114,110▼ $83,691
Cash and Non-Interest-Bearing Accounts$155,949$260,635▲ $104,686
Prepaid Expenses and Deferred Charges$678$37,191▲ $36,513
Total Assets$7,288,048$7,251,243▼ $36,805
Liabilities
Deferred Revenue$33,550$29,055▼ $4,495
Accounts Payable and Accrued Expenses$21,413$11,934▼ $9,479
Other Liabilities$3,200$3,200→ $0
Total Liabilities$58,163$44,189▼ $13,974
Net Assets / Fund Balance
Unrestricted Net Assets$5,780,323$5,655,277▼ $125,046
Temporarily Rstr Net Assets$1,433,562$1,535,777▲ $102,215
Permanently Rstr Net Assets$16,000$16,000→ $0
Total Net Assets Fund Balance$7,229,885$7,207,054▼ $22,831
Total Liabilities and Net Assets / Fund Balance$7,288,048$7,251,243▼ $36,805

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$779,074$691,271$1,470,345
Land$264,000-$264,000
Other Land Buildings$71,036$173,195$244,231

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$1,453,592---$1,453,592
2015$1,613,126-▼ $69,225$90,309$1,453,592
2014$1,615,249-▲ $57,195$59,318$1,613,126
2013$1,430,564-▲ $245,098$60,413$1,615,249
2012$1,262,832-▲ $217,848$50,116$1,430,564
Compensation and Service Providers

Employees

NameTitleBaseTotal
Dr Layton MccurdyDirector$124,231$124,231

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$744,256
Program Service Revenue
$163,870
Investment Income
$122,002
Other Revenue
$93,409
All Other Contributions
$264,383
Change in Net Assets
$-15,940
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$619,951
Other Expenses$519,526
Total Fundraising Expense$23,442
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$300,817$77,484$9,124$387,425
Current Officers, Directors, Trustees, and Key Employees$99,384$24,847$0$124,231
All Other Expenses$54,146$15,541$8,465$78,152
Depreciation Depletion$62,174$15,543$0$77,717
Occupancy$51,274$12,819$0$64,093
Other Employee Benefits$41,902$10,703$912$53,517
Payroll Taxes$30,152$7,713$698$38,563
Insurance$28,140$7,036$0$35,176
Pension Plan Contributions$12,972$3,243$0$16,215
Office Expenses$15,699$0$0$15,699
Advertising$9,901$0$4,243$14,144
Fees for Services Accounting$0$11,500$0$11,500
Travel$11,189$0$0$11,189
Other Expenses$723$181$0$904
Total Functional Expenses$907,785$208,250$23,442$1,139,477
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$54,825
Fundraising Direct Expenses$29,916
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
Deposit From Tenant$3,200
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Charleston Library Society
EIN
57-0314372
Phone
8437239912
Address
164 KING STREET, CHARLESTON, SC 29401

Signing Officer

Name
Richard Almeida
Title
Treasurer
Phone
8437239912
Signed
2017-02-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anne Cleveland
Formed
1987
Legal Domicile
Sc
Voting Board Members
20
Independent Board Members
20
Employees
22
Volunteers
0

Preparer

Firm
Streetman Jones & Powers LLC
Address
171 CHURCH STREET STE 240, CHARLESTON, SC 29401
Preparer
Brian R Powers CPA Cva
Phone
8437233133
Supplemental Narrative

Additional Explanations

Other

Form 990, part i, line 1, description of organization mission: instituation and the third oldest library in the united states. For more than 250 years, it has collected, preserved and made available cultural materials for the use of its members and researchers around the world. Today, it is a circulating library and a repository of rare books periodicals, manuscripts, clippings, maps, directories, almanacs and visual materials.

Other

Form 990, part iii, line 1, description of organization mission: members and researchers around the world. Today, it is a circulating library and a repository of rare books periodicals, manuscripts, clippings, maps, directories, almanacs and visual materials.

Pt V, Line 13A

List of states with qualified health plans: sc

Pt VI, Line 2

Executive director's husband is a business partner of a board member. The executive director's daughter is an employee.

Pt VI, Line 6

The charleston library society is a membership organization and a membership meeting is held annually.

Pt VI, Line 7A

A slate of officers are elected at the annual membership meeting.

Pt VI, Line 11B

The executive director reviews the tax return preliminarily and then has the finance committee review the return. The finance committee recommends the return be accepted to the full board, who vote on the motion.

Pt VI, Line 12C

The board of directors reviews the conflict of interest policy with members annually.

Pt VI, Line 15A

The board of directors appoints a benefits committee that does a salary comparison to other non-profits in the local area.

Pt VI, Line 19

Information is provided through guidestar and the on-line website. Request for additional information may be submitted to the executive director.

Pt VI, Line 15B

The board of directors appoints a benefits committee that does a salary comparison to other non-profits in the local area.

Form 990, Part IX, Line 24E

Miscellaneous expenses 15498. 12398. 3100. 0.

Form 990, Part IX, Line 24E

Development 13090. 9163. 0. 3927.

Form 990, Part IX, Line 24E

Professional development 2653. 0. 2653. 0.

Form 990, Part IX, Line 24E

Minor equipment 19610. 15688. 3922. 0.

Form 990, Part IX, Line 24E

Periodicals 3347. 3347. 0. 0.

Form 990, Part IX, Line 24E

VIDEO 2963. 2963. 0. 0.

Form 990, Part IX, Line 24E

Property taxes 5866. 0. 5866. 0.

Form 990, Part IX, Line 24E

Newletter 15125. 10587. 0. 4538.

Financial Statement Notes

Pt III, Line 4

The society follows the financial accounting standards board fasb asc 958-310-50, collection items acquired either through purchase or donations are not capitalized. Purchases of collection items are recorded as decreases in unrestricted net assets if purchased with unrestricted funds and as decreases in temporarily restricted net assets if purchased with donor-restricted funds. Contributions of collection items are not recorded in the statements of activities. There were no purchases or donations of museum collection items for either of the years ended december 31, 2014 and 2013. The dcollection contains historically significant original letters and legal documents that are considered priceless and are maintained in a vault and bound in a light protected environment.

Pt V, Line 4

The Society's investment policy intends for the Society to invest in assets that would produce results exceeding the investment's purchase price and incur a significant yield of return, while assuming a moderate level of investment risk. The Society expects its Investment Fund, over time, to provide a reasonable rate of return. To satisfy the long-term rate-of-return objective, the Society relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The Society targets a diversified asset allocation that places a greater emphasis on marketable equity and debt securities and money-market accounts to achieve its long-term return objectives within prudent risk constraints.

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IRS990/Desc0FOR MORE THAN 269 YEARS, IT HAS COLLECTED, PRESERVED AND MADE AVAILABLE CULTUAL MATERIALS FOR THE USE OF ITS MEMBERS AND RESEARCHERS AROUND THE WORLD. TODAY, IT IS A CIRCULATING LIBRARY AND A REPOSITORY OF RARE BOOKS PERIODICALS, MANUSCRIPTS, CLIPPINGS, MAPS, DIRECTORIES, ALMANACS AND VISUAL MATERIALS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt22EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
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IRS990/OtherExpensesGrp/ProgramServicesAmt086561
IRS990/OtherExpensesGrp/ProgramServicesAmt179846
IRS990/OtherExpensesGrp/ProgramServicesAmt222905
IRS990/OtherExpensesGrp/ProgramServicesAmt3723
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IRS990/OtherExpensesGrp/TotalAmt222905
IRS990/OtherExpensesGrp/TotalAmt3904
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IRS990/OwnWebsiteInd0X
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt030152
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IRS990/PensionPlanContributionsGrp/FundraisingAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0678
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt037191
IRS990/PrincipalOfficerNm0ANNE CLEVELAND
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0SPEAKERS AND ARTISIT EVENTS
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IRS990/PYOtherRevenueAmt096448
IRS990/PYProgramServiceRevenueAmt0165227
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IRS990/PYSalariesCompEmpBnftPaidAmt0561450
IRS990/PYTotalExpensesAmt01104846
IRS990/PYTotalRevenueAmt0940762
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0578437
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0488642
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0371412
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$0.04$15.0$2.50$2.16$0.34
2023Summary only. Only limited summary data is available for this year.$14.3$0.03$14.2$2.36$1.93$0.44
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.3$0.30$13.0$1.79$2.00$0.21
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.3$0.03$14.3$3.27$1.73$1.54
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.5$0.21$13.3$2.05$1.48$0.57
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.3$0.22$12.1$3.49$1.44$2.05
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.91$0.71$9.20$3.27$1.45$1.82
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.06$0.97$8.09$1.80$1.28$0.51
2016Detailed filing. Detailed filing data is available for this year.$7.25$0.04$7.21$1.12$1.14$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.29$0.06$7.23$0.94$1.10$0.16
2014Detailed filing. Detailed filing data is available for this year.$7.76$0.01$7.75$1.09$0.97$0.12
2013Detailed filing. Detailed filing data is available for this year.$7.65$0.02$7.63$1.05$0.84$0.20
2012Summary only. Only limited summary data is available for this year.$7.02$0.03$6.99$0.85$0.80$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.46$0.01$6.44$0.78