Civic Intelligence

Trust Fund for Buncombe County Public Libraries

EIN 58-1410422 • 501(c)3 • Asheville, NC

Profile

The Asheville-Buncombe Library System Trust Fund was established in 1979 for the purpose of supporting the public libraries of Buncombe County.

P O Box 18955Asheville, NC 28814

n/A

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

1st percentile

-355%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

29th percentile

-4.8%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-33%

Faster revenue growth than 11% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$897,724

Down $45,270 (-4.8%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$897,724

Down $45,270 (-4.8%) from 2023

Operations
Liabilities / Revenue35th percentileNet Margin1st percentile

Revenue

Down

$25,201

Down $12,539 (-33%) from 2023

Expenses

Up

$114,666

Up $94,130 (+458%) from 2023

Net Income

Down

-$89,465

Down $106,669 (-620%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth29th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $596,833Liabilities 2010: $13,725Net Assets 2010: $583,1082010Assets 2011: $555,809Liabilities 2011: $0Net Assets 2011: $555,8092011Assets 2012: $617,588Liabilities 2012: $0Net Assets 2012: $617,5882012Assets 2013: $703,657Liabilities 2013: $0Net Assets 2013: $703,6572013Assets 2014: $723,730Liabilities 2014: $0Net Assets 2014: $723,7302014Assets 2015: $692,576Liabilities 2015: $0Net Assets 2015: $692,5762015Assets 2016: $735,146Liabilities 2016: $0Net Assets 2016: $735,1462016Assets 2017: $807,907Liabilities 2017: $0Net Assets 2017: $807,9072017Assets 2018: $755,751Liabilities 2018: $0Net Assets 2018: $755,7512018Assets 2019: $860,105Liabilities 2019: $0Net Assets 2019: $860,1052019Assets 2020: $937,200Liabilities 2020: $0Net Assets 2020: $937,2002020Assets 2021: $1,016,724Liabilities 2021: $0Net Assets 2021: $1,016,7242021Assets 2022: $873,930Liabilities 2022: $0Net Assets 2022: $873,9302022Assets 2023: $942,994Liabilities 2023: $0Net Assets 2023: $942,9942023Assets 2024: $897,724Liabilities 2024: $0Net Assets 2024: $897,7242024

Highlighted filing

2024

Assets$897,724
Liabilities$0
Net Assets$897,724
Open 2024 Filing

Operations Trend

Revenue Growth11th percentile

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

$200K$100K$0-$100KExpenses 2010: $53,3232010Expenses 2011: $17,0102011Revenue 2012: $27,936Expenses 2012: $21,733Net Income 2012: $6,2032012Revenue 2013: $7,725Expenses 2013: $9,263Net Income 2013: -$1,5382013Revenue 2014: $14,236Expenses 2014: $14,999Net Income 2014: -$7632014Revenue 2015: $8,851Expenses 2015: $12,562Net Income 2015: -$3,7112015Revenue 2016: $8,444Expenses 2016: $10,728Net Income 2016: -$2,2842016Revenue 2017: $8,061Expenses 2017: $9,948Net Income 2017: -$1,8872017Revenue 2018: $27,065Expenses 2018: $12,643Net Income 2018: $14,4222018Revenue 2019: $21,892Expenses 2019: $7,692Net Income 2019: $14,2002019Revenue 2020: $18,210Expenses 2020: $8,425Net Income 2020: $9,7852020Revenue 2021: $52,918Expenses 2021: $13,906Net Income 2021: $39,0122021Revenue 2022: $7,173Expenses 2022: $16,029Net Income 2022: -$8,8562022Revenue 2023: $37,740Expenses 2023: $20,536Net Income 2023: $17,2042023Revenue 2024: $25,201Expenses 2024: $114,666Net Income 2024: -$89,4652024

Highlighted filing

2024

Revenue$25,201
Expenses$114,666
Net Income-$89,465
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$897,724
Liabilities
$0
Net assets
$897,724
Revenue
$25,201
Expenses
$114,666
Net income
-$89,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$0.03$0.11$0.09
2023Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$0.04$0.02$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.01$0.02$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.05$0.01$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$0.02$0.01$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.00$0.86$0.02$0.01$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.76$0.00$0.76$0.03$0.01$0.01
2017Summary only. Only limited summary data is available for this year.$0.81$0.00$0.81$0.01$0.01$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.74$0.00$0.74$0.01$0.01$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.69$0.00$0.69$0.01$0.01$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$0.01$0.01$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.01$0.01$0.00
2012Summary only. Only limited summary data is available for this year.$0.62$0.00$0.62$0.03$0.02$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.00$0.56$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.01$0.58$0.05
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 8, 2025
Return Version
2024v5.1
Gross Receipts
$25,201
Mission and Program Overview

Mission

The Trust Fund for the Asheville-Buncombe Library System was established in 1979

The Trust Fund for the Asheville-Buncombe Library System was established in 1979 for the purpose of supporting and maintaining the public libraries of Buncombe County.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,407$17,422▲ $15,015
Savings and Temporary Cash Investments$24,904$12,908▼ $11,996
Total Assets$942,994$897,724▼ $45,270
Other Assets Total$915,683$867,394▼ $48,289
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$716,455$719,602▲ $3,147
Net Assets With Donor Restrictions$226,539$178,122▼ $48,417
Total Net Assets Fund Balance$942,994$897,724▼ $45,270
Total Liabilities and Net Assets / Fund Balance$942,994$897,724▼ $45,270

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$867,394--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$915,683$583▲ $68,810$110,000$867,394
2023$834,331$259▲ $89,292-$915,683
2022$969,065-▼ $126,967-$834,331
2021$884,649-▲ $93,173-$969,065
2020$806,408-▲ $85,256-$884,649
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Kay WallBoard Chair
-Member
David GobleMember
Heath TowsonMember
Jason HyattMember
Justice RogersMember
Tikkun GottschalkMember
Linda WilkersonSecretary
Leslie LongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$583
Program Service Revenue
$0
Investment Income
$24,618
Other Revenue
$0
All Other Contributions
$583
Change in Net Assets
$-89,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$93,672
Other Expenses$20,994
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$75,560--$75,560
Grants to Domestic Individuals$18,112--$18,112
Other Expenses$10,000$0$0$10,000
Fees for Service Investment Mgmnt Fees$0$7,682$0$7,682
Fees for Services Accounting$0$2,040$0$2,040
Office Expenses$760$0$0$760
Insurance$400$0$0$400
Advertising$112$0$0$112
Total Functional Expenses$104,944$9,722$0$114,666
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Buncombe County Library SystemAsheville, NCGovernmentLibrary Assistance$75,560
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
Governance and Compliance

Governance Checklist

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

Filer

Filer Name
Trust Fund for Buncombe County Public Libraries
EIN
58-1410422
Phone
8282504714
Address
P O Box 18955, Asheville, NC 28814

Signing Officer

Name
Kay Wall
Title
Board Chair
Phone
8282504714
Signed
2025-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kay Wall
Formed
1979
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Corliss & Solomon Pllc
Address
242 CHARLOTTE ST SUITE 1, ASHEVILLE, NC 28801
Preparer
Todd Oldenburg
Phone
8282360206
Supplemental Narrative

Additional Explanations

Pt VI, Line 8B

“NA”

Pt VI, Line 11B

“The 990 is prepared by a CPA firm, and reviewed by management.”

Pt VI, Line 15A

“Pursuant to the Trust Agreement with Buncombe County & Friends of the Libraries, the organization does not have any employees. It is operated by the Trustees.”

Pt VI, Line 18

“Forms 1023 and 990 are available upon request.”

Pt VI, Line 19

“Governing documents.”

Pt III, Line 2

“The Trust Fund began providing scholarships and support for special needs.”

Financial Statement Notes

Pt V, Line 4

“Since December 1999, the Trust Fund has maintained two funds at the Community Foundation of Western North Carolina. They are as follows:(1) Board Designated Endowment Fund - This fund was established with unrestricted trust fund monies and was designed to function like an endowment. Under the terms of the agreement with the Community Foundation, fund principal can be distributed only with the approval of three- fourths of the Trust Funds Board of Directors and a majority of the Board of Directors of the Foundation. The Foundation makes annual distributions of income available, which are unrestricted to the Trust Fund.”

Pt V, Line 4

“(2) Special Fund - This fund consists of the Pless bequest, which consists of funds temporarily restricted to capital improvements for the libraries in the system, as well as unrestricted and temporarily restricted monies that are transferred into this account for investment purposes. Under the terms of the agreement, fund principal can be distributed with the approval of the Board of the Trust Fund. Pless investment income & gains are not restricted by the bequest and are considered unrestricted.”

Raw XML AppendixShowing 400 of 446 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc0The TFBCPL concentrated efforts in 2024 to articulate its mission, vision, goals, and objectives for the Trust Fund where either little had either previously existed, was unclear, or was not shared or fully embraced by the Board member. Consultant Greg Walker Wilson worked with the Strategic Planning Committee, the TFBCPL, and others knowledgeable of the TFBCPL to create a three year Strategic Plan based upon stakeholder survey data, feedback, a Board retreat, and numerous plan reviews and discussions. The Plan was adopted in December 2024.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Pt IV Sec E Ln 1c:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1The Asheville Buncombe Library System Trust Fund supports the public libraries of Buncombe County by providing for materials, program and service enhancements, capital improvements and staff continuing education needs not included in the County budget.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2The public library system of Buncombe County was previously a stand alone government entity under the control of Buncombe County government. Its name was the Asheville-Buncombe Library System. There was a realignment within the county government and the public libraries of Buncombe County are now a department within Buncombe County government. The Trust Board is actively working on updating its organizing documents, policies and procedures and revising the name of the organization.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2Pt IV Sec A Ln 5a
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Endowment Funds Held with The Community Foundation of Western NC
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Since December 1999, the Trust Fund has maintained two funds at the Community Foundation of Western North Carolina. They are as follows:(1) Board Designated Endowment Fund - This fund was established with unrestricted trust fund monies and was designed to function like an endowment. Under the terms of the agreement with the Community Foundation, fund principal can be distributed only with the approval of three- fourths of the Trust Funds Board of Directors and a majority of the Board of Directors of the Foundation. The Foundation makes annual distributions of income available, which are unrestricted to the Trust Fund.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1(2) Special Fund - This fund consists of the Pless bequest, which consists of funds temporarily restricted to capital improvements for the libraries in the system, as well as unrestricted and temporarily restricted monies that are transferred into this account for investment purposes. Under the terms of the agreement, fund principal can be distributed with the approval of the Board of the Trust Fund. Pless investment income & gains are not restricted by the bequest and are considered unrestricted.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Library Assistance
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt067 Haywood Street
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Asheville
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 990 is prepared by a CPA firm, and reviewed by management.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Pursuant to the Trust Agreement with Buncombe County & Friends of the Libraries, the organization does not have any employees. It is operated by the Trustees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Forms 1023 and 990 are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing documents.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Trust Fund began providing scholarships and support for special needs.
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