Civic Intelligence

West Palm Beach Library Foundation Inc.

990 • Fiscal year 2020 • EIN 65-1068311

Oct 01, 2019 to Sep 30, 2020 • Filed on Aug 05, 2021

411 Clematis Street 3rd FloorWest Palm Beach, FL 33401-5319

(561) 868-7793

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

26th percentile

0.07x

Higher debt load relative to revenue than 26% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

7th percentile

-51%

Higher net margin than 7% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

38th percentile

$96,442

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 27.1% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

41st percentile

3.1%

Faster asset growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

25th percentile

-13%

Faster revenue growth than 25% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$5,651,821

Up $169,345 (+3.1%) from 2019

Net Assets

Up

$5,625,377

Up $148,372 (+2.7%) from 2019

Liabilities

Up

$26,444

Up $20,973 (+383%) from 2019

Revenue

Down

$356,221

Down $54,585 (-13%) from 2019

Expenses

Down

$537,428

Down $37,249 (-6.5%) from 2019

Net Income

Down

-$181,207

Down $17,336 (-11%) from 2019

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $115,966Liabilities 2010: $0Net Assets 2010: $115,9662010Assets 2011: $40,041Liabilities 2011: $0Net Assets 2011: $40,0412011Assets 2012: $352,027Liabilities 2012: $0Net Assets 2012: $352,0272012Assets 2013: $4,856,575Liabilities 2013: $0Net Assets 2013: $4,856,5752013Assets 2014: $4,791,323Liabilities 2014: $0Net Assets 2014: $4,791,3232014Assets 2015: $4,469,695Liabilities 2015: $0Net Assets 2015: $4,469,6952015Assets 2016: $4,554,649Liabilities 2016: $5,708Net Assets 2016: $4,548,9412016Assets 2017: $4,950,244Liabilities 2017: $0Net Assets 2017: $4,950,2442017Assets 2018: $5,532,959Liabilities 2018: $0Net Assets 2018: $5,532,9592018Assets 2019: $5,482,476Liabilities 2019: $5,471Net Assets 2019: $5,477,0052019Assets 2020: $5,651,821Liabilities 2020: $26,444Net Assets 2020: $5,625,3772020Assets 2021: $6,490,651Liabilities 2021: $156,176Net Assets 2021: $6,334,4752021Assets 2022: $5,016,699Liabilities 2022: $167,780Net Assets 2022: $4,848,9192022Assets 2023: $5,516,521Liabilities 2023: $204,897Net Assets 2023: $5,311,6242023Assets 2024: $6,467,396Liabilities 2024: $221,184Net Assets 2024: $6,246,2122024

Highlighted filing

2020

Assets$5,651,821
Liabilities$26,444
Net Assets$5,625,377

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $164,314Expenses 2010: $98,718Net Income 2010: $65,5962010Revenue 2011: $136,096Expenses 2011: $212,021Net Income 2011: -$75,9252011Revenue 2012: $569,305Expenses 2012: $257,318Net Income 2012: $311,9872012Revenue 2013: $5,078,717Expenses 2013: $574,169Net Income 2013: $4,504,5482013Revenue 2014: $661,680Expenses 2014: $726,932Net Income 2014: -$65,2522014Revenue 2015: $348,050Expenses 2015: $496,989Net Income 2015: -$148,9392015Revenue 2016: $393,361Expenses 2016: $543,660Net Income 2016: -$150,2992016Revenue 2017: $762,142Expenses 2017: $380,440Net Income 2017: $381,7022017Revenue 2018: $787,963Expenses 2018: $585,418Net Income 2018: $202,5452018Revenue 2019: $410,806Expenses 2019: $574,677Net Income 2019: -$163,8712019Revenue 2020: $356,221Expenses 2020: $537,428Net Income 2020: -$181,2072020Revenue 2021: $833,009Expenses 2021: $793,374Net Income 2021: $39,6352021Revenue 2022: $632,591Expenses 2022: $1,032,729Net Income 2022: -$400,1382022Revenue 2023: $702,208Expenses 2023: $851,402Net Income 2023: -$149,1942023Revenue 2024: $719,635Expenses 2024: $883,095Net Income 2024: -$163,4602024

Highlighted filing

2020

Revenue$356,221
Expenses$537,428
Net Income-$181,207
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Aug 5, 2021
Return Version
2019v5.2
Gross Receipts
$897,750
Mission and Program Overview

Mission

The West Palm Beach Library Foundation, a 501(c)3 nonprofit organization that is independent from the City of West Palm Beach, was formed to support the Mandel Public Library of West Palm Beach. The Foundation, free of any political influence, secures financial and in-kind donations to support and enhance programs, services, collections, and technology that the city's reasonable operating budget cannot encompass. We work with the Library in a strong partnership, to determine where private support can have the greatest impact and at the same time, not replace the public's responsibility for funding the basic operations of a strong library.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,361,855$5,470,045▲ $108,190
Savings and Temporary Cash Investments$50,465$97,990▲ $47,525
Pledges and Grants Receivable$67,000$76,000▲ $9,000
Prepaid Expenses and Deferred Charges$3,126$7,756▲ $4,630
Cash and Non-Interest-Bearing Accounts$30$30→ $0
Total Assets$5,482,476$5,651,821▲ $169,345
Liabilities
Deferred Revenue-$26,350-
Accounts Payable and Accrued Expenses$5,471$94▼ $5,377
Total Liabilities$5,471$26,444▲ $20,973
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,476,489$4,663,319▲ $186,830
Net Assets Without Donor Restrictions$1,000,516$962,058▼ $38,458
Total Net Assets Fund Balance$5,477,005$5,625,377▲ $148,372
Total Liabilities and Net Assets / Fund Balance$5,482,476$5,651,821▲ $169,345

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$5,361,855-▲ $365,027-$5,470,045
2018$5,382,663$59,640▲ $188,548-$5,361,855
2017$4,787,687$466,250▲ $345,479-$5,382,663
2016$4,386,856-▲ $450,831-$4,787,687
2015$3,000,000$1,000,000▲ $386,856-$4,386,856
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer N HenneveltInterum Executive DirectorFT$88,445$7,997$96,442
Tami LesserExecutive DirectorFT$66,539$10,021$76,560

Board Members and Trustees

NameTitle
Natalie M AlvarezChairwoman
Dianne BernsteinVice Chairwoman
Adrienne CoffinDirector
Beverly MyersDirector
Gary LesserDirector
Hon Ann W BrownDirector
James McBrayerDirector
Janet NakushianDirector
Jeri MuoioDirector
Josephine duPont BayardDirector
Pamela SlotkinDirector
Paul BremerDirector
Robert SandersDirector
Susan RokerDirector
Alan Murphy SrAsst. Treasurer
Lesley Hogan EsqSecretary
Brian WodarTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$292,585
Program Service Revenue
$8,108
Investment Income
$69,718
Other Revenue
$-14,190
All Other Contributions
$200,332
Change in Net Assets
$-181,207

Audited Revenue Reconciliation

Revenue per Audited Statements
$322,030
Revenue Not Reported on Financial Statements
$34,191
Revenue Not Reported on Form 990
$343,769
Other Revenue Adjustments
$34,191
Total Revenue per Audited Statements
$665,799
Total Revenue per Form 990
$356,221
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$274,630
Salaries, Compensation, and Employee Benefits$177,828
Other Expenses$84,970
Total Fundraising Expense$59,978
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$274,630--$274,630
Comp Disqual Persons$55,304$56,980$55,304$167,588
Fees for Service Investment Mgmnt Fees-$34,191-$34,191
Advertising-$23,075-$23,075
Fees for Services Accounting-$10,650-$10,650
Payroll Taxes$3,379$3,482$3,379$10,240
Office Expenses$1,295$6,707$1,295$9,297
Other Expenses-$4,558-$4,558
Insurance-$2,571-$2,571
Conferences and Meetings-$628-$628
Total Functional Expenses$334,608$142,842$59,978$537,428

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$537,428
Total Expenses per Audited Statements$517,427
Expenses per Audited Statements$503,237
Expenses Not Reported on Financial Statements$34,191
Other Expense Adjustments$34,191
Expenses Not Reported on Form 990$14,190
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of West Palm BeachWest Palm Beach, FL-General operations$257,775
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$14,190
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Food for Thought$67,253-$14,190-
Total Events$67,253-$14,190$-14,190
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
Yes
Audit committee
Yes
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

Governance Explanations

Form 990, Part VI, Section B, line 11B

The Organization provides copies of Form 990 to the board of directors before it is filed.

Form 990, Part VI, Section B, line 12C

A copy of this policy is given to all board members, staff members, volunteers or other key stakeholders upon commencement of such person's relationship with the West Palm Beach Library Foundation. Each board member, officer, staff member, and volunteer is required to sign and date the policy each year. The policy and disclosure form must be filed annually by all specified parties.

Form 990, Part VI, Section C, line 19

The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
West Palm Beach Library Foundation Inc
EIN
65-1068311
Phone
5618687793
Address
411 Clematis Street 3rd Floor, West Palm Beach, FL 33401-5319

Signing Officer

Name
Dean W Dimke
Title
Executive Director
Phone
5618687793
Signed
2021-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dianne Bernstein
Formed
2000
Legal Domicile
Fl
Voting Board Members
17
Independent Board Members
17
Employees
5
Volunteers
20

Preparer

Firm
Holyfield & Thomas LLC
Address
125 Butler Street, West Palm Beach, FL 33407
Preparer
Scott Y Haynes
Phone
5616896000
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The Organization reviews the audit report as presented by the independent auditor during the audit report review meeting.

Financial Statement Notes

Part X, Line 2:

The Foundation evaluates its uncertain tax positions in accordance with FASB ASC 740, "Income Taxes", which states that management's determination of the taxable status of an entity, including its status as a tax-exempt entity, is a tax position subject to the standards required for accounting for uncertainty in income taxes. Management does not believe that the Foundation has any significant uncertain tax positions that would be material to the financial statements. Furthermore, there is no Federal or State open-year tax return under audit.

Part XI, Line 2D - Other Adjustments:

Special Fundraising Event Expenses 14,190.

Part XI, Line 4B - Other Adjustments:

Management Fee 34,191.

Part XII, Line 2D - Other Adjustments:

Special Fundraising Event Expenses 14,190.

Part XII, Line 4B - Other Adjustments:

Management Fee 34,191.

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IRS990/Desc0The Afterschool Homework Centers are the anchor of the Library's after-school initiatives and serve as a lifeline for children and teens by providing free academic support to student's grades K-12. Elementary and Teen Homework Centers are open four days a week and on Sunday and provide everything students need to successfully study, learn and complete homework and research projects. Equipped with basic supplies like paper and pencils, laptops, printers, databases and the latest technologies, Homework Centers offer educational games, software and tools and are stocked with healthy snacks to feed bodies and minds. Most importantly Elementary and Teen Homework Centers are staffed teachers certified by the School District of Palm Beach County and professional librarians, as well as volunteers and AmeriCorps members. These adults serve as teachers, advocates, mentors and cheerleaders for children and teens on their educational journeys. Less than one-third of kindergarten-aged children who live in West Palm Beach, specifically those in the public elementary schools that are nearest the Library, arrive in their classrooms ready to learn. These numbers improve only slightly when students are tested for grade level reading in third grade, where 40% of children are proficient readers. Research shows that children who have not mastered reading by 3rd grade are less likely to graduate. Adults without high school diplomas earn less than their peers that graduated high school. For many, a diploma is the difference between poverty and a living wage. To help address these needs and partner with children and families on their educational journeys and build a stronger community, Mandel Public Library of West Palm Beach created Homework Centers. The Homework Centers both in Elementary and Teen area average over 2,000 students attending over 100 sessions with an average of 16 kids a day.
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IRS990/Form990PartVIISectionAGrp/PersonNm10Beverly Myers
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IRS990/Form990PartVIISectionAGrp/PersonNm16Robert Sanders
IRS990/Form990PartVIISectionAGrp/PersonNm17Tami Lesser
IRS990/Form990PartVIISectionAGrp/PersonNm18Jennifer N Hennevelt
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairwoman
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
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IRS990/MissionDesc0The West Palm Beach Library Foundation, a 501(c)3 nonprofit organization that is independent from the City of West Palm Beach, was formed to support the Mandel Public Library of West Palm Beach. The Foundation, free of any political influence, secures financial and in-kind donations to support and enhance programs, services, collections, and technology that the city's reasonable operating budget cannot encompass. We work with the Library in a strong partnership, to determine where private support can have the greatest impact and at the same time, not replace the public's responsibility for funding the basic operations of a strong library.
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IRS990/PrincipalOfficerNm0Dianne Bernstein
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IRS990/ProgSrvcAccomActy2Grp/Desc0Adult programing helping adults thrive. The Library's award winning, dynamic, lifelong learning programs encourages participants to explore talents, grow as individuals and learn more about the world. Programs such as Get that Job, Studio 411, and healthy lifestyles exercise programs encompasses a breadth of programming including academic lectures conducted by university professors, exhibitions, civic engagement panel discussions, audience performance classes, professional music performances, an aspiring author series, and hands on art classes. The Library averages over 30,000 adults attending over 1,000 Adult programs to learn, develop new skills, expand their relational networks and enrich their lives. Adult programming creates opportunities for seniors to stay independent by providing mental stimulation, it allows the arts and culture to flourish among people who have the time to dedicate to a newly learned art form, and it combines, under one roof, academic lectures, hands on arts, performance arts, performances, panel discussions, job readiness programs, free exercise programs and more each week. Adult programming provides a place and platform for people to connect to new ideas, experiences and to one another. The volume, variety, breadth and depth of offerings is unprecedented in the county.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Youth Programing at the Mandel Public Library provides free educational, artistic, healthy living, exercise programs, and more each week. Free Youth Programming spans from infants, children to teens. During the fiscal year, the following statistics are from a hand full of the many free programs that the Library Foundation obtains funding and provides support for at the Mandel Public Library. Summer Academy: 500 attendees, Dog Tales: over 1,500 attendees and receive gift books, Kids Can Cook: 62 attendees, In all, over 30,000 children and teens visited the Library to participate in programs. The Library is a safe place for children and teens to come and learn, play, create, and grow.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.47$0.22$6.25$0.72$0.88$0.16
2023Detailed filing. Detailed filing data is available for this year.$5.52$0.20$5.31$0.70$0.85$0.15
2022Detailed filing. Detailed filing data is available for this year.$5.02$0.17$4.85$0.63$1.03$0.40
2021Detailed filing. Detailed filing data is available for this year.$6.49$0.16$6.33$0.83$0.79$0.04
2020Detailed filing. Detailed filing data is available for this year.$5.65$0.03$5.63$0.36$0.54$0.18
2019Detailed filing. Detailed filing data is available for this year.$5.48$0.01$5.48$0.41$0.57$0.16
2018Detailed filing. Detailed filing data is available for this year.$5.53$0.00$5.53$0.79$0.59$0.20
2017Detailed filing. Detailed filing data is available for this year.$4.95$0.00$4.95$0.76$0.38$0.38
2016Detailed filing. Detailed filing data is available for this year.$4.55$0.01$4.55$0.39$0.54$0.15
2015Detailed filing. Detailed filing data is available for this year.$4.47$0.00$4.47$0.35$0.50$0.15
2014Summary only. Only limited summary data is available for this year.$4.79$0.00$4.79$0.66$0.73$0.07
2013Summary only. Only limited summary data is available for this year.$4.86$0.00$4.86$5.08$0.57$4.50
2012Summary only. Only limited summary data is available for this year.$0.35$0.00$0.35$0.57$0.26$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.00$0.04$0.14$0.21$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.12$0.00$0.12$0.16$0.10$0.07