Civic Intelligence

Cupertino Library Foundation

990 • Fiscal year 2019 • EIN 77-0372742

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 09, 2020

Organization Profilewww.cupertinolibraryfoundation.org
10800 Torre AvenueCupertino, CA 95014

(408) 255-2102

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

91st percentile

47%

Higher net margin than 91% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

74th percentile

15%

Faster asset growth than 74% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

48th percentile

3.2%

Faster revenue growth than 48% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$1,972,150

Up $258,146 (+15%) from 2018

Net Assets

Up

$1,972,150

Up $259,886 (+15%) from 2018

Liabilities

Down

$0

Down $1,740 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin91st percentile

Revenue

Up

$108,452

Up $3,367 (+3.2%) from 2018

Expenses

Up

$56,999

Up $2,289 (+4.2%) from 2018

Net Income

Up

$51,453

Up $1,078 (+2.1%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$3.0M$2.0M$1.0M$0Assets 2012: $1,604,311Liabilities 2012: $1,053Net Assets 2012: $1,603,2582012Assets 2013: $1,773,175Liabilities 2013: $0Net Assets 2013: $1,773,1752013Assets 2014: $1,759,339Liabilities 2014: $2,884Net Assets 2014: $1,756,4552014Assets 2015: $1,665,586Liabilities 2015: $0Net Assets 2015: $1,665,5862015Assets 2016: $1,672,746Liabilities 2016: $1,174Net Assets 2016: $1,671,5722016Assets 2017: $1,852,429Liabilities 2017: $1,574Net Assets 2017: $1,850,8552017Assets 2018: $1,714,004Liabilities 2018: $1,740Net Assets 2018: $1,712,2642018Assets 2019: $1,972,150Liabilities 2019: $0Net Assets 2019: $1,972,1502019Assets 2020: $2,134,830Liabilities 2020: $0Net Assets 2020: $2,134,8302020Assets 2021: $2,527,470Liabilities 2021: $3,700Net Assets 2021: $2,523,7702021Assets 2022: $2,093,100Liabilities 2022: $900Net Assets 2022: $2,092,2002022Assets 2023: $2,183,254Liabilities 2023: $1,399Net Assets 2023: $2,181,8552023Assets 2024: $2,409,900Liabilities 2024: $0Net Assets 2024: $2,409,9002024

Highlighted filing

2019

Assets$1,972,150
Liabilities$0
Net Assets$1,972,150
Open 2019 Filing

Operations Trend

Revenue Growth48th percentile

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

$600K$400K$200K$0-$200KRevenue 2012: $53,998Expenses 2012: $86,436Net Income 2012: -$32,4382012Revenue 2013: $20,721Expenses 2013: $83,376Net Income 2013: -$62,6552013Revenue 2014: $43,359Expenses 2014: $80,550Net Income 2014: -$37,1912014Revenue 2015: $44,549Expenses 2015: $78,399Net Income 2015: -$33,8502015Revenue 2016: $25,582Expenses 2016: $80,908Net Income 2016: -$55,3262016Revenue 2017: $52,178Expenses 2017: $55,875Net Income 2017: -$3,6972017Revenue 2018: $105,085Expenses 2018: $54,710Net Income 2018: $50,3752018Revenue 2019: $108,452Expenses 2019: $56,999Net Income 2019: $51,4532019Revenue 2020: $52,525Expenses 2020: $43,978Net Income 2020: $8,5472020Revenue 2021: $405,457Expenses 2021: $93,647Net Income 2021: $311,8102021Revenue 2022: $114,478Expenses 2022: $170,360Net Income 2022: -$55,8822022Revenue 2023: $50,435Expenses 2023: $232,462Net Income 2023: -$182,0272023Revenue 2024: $203,897Expenses 2024: $118,671Net Income 2024: $85,2262024

Highlighted filing

2019

Revenue$108,452
Expenses$56,999
Net Income$51,453
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 9, 2020
Return Version
2019v5.0
Gross Receipts
$218,121
Mission and Program Overview

Mission

The Organization's stated purpose is to raise money to help enhance life-long learning and self-improvement through the Cupertino Library.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,694,824$1,937,656▲ $242,832
Savings and Temporary Cash Investments$16,770$32,084▲ $15,314
Prepaid Expenses and Deferred Charges$2,410$2,410→ $0
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,714,004$1,972,150▲ $258,146
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$1,740--
Total Liabilities$1,740$0▼ $1,740
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,569,380$1,815,724▲ $246,344
Net Assets Without Donor Restrictions$142,884$156,426▲ $13,542
Total Net Assets Fund Balance$1,712,264$1,972,150▲ $259,886
Total Liabilities and Net Assets / Fund Balance$1,714,004$1,972,150▲ $258,146

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,694,824-▲ $306,443$50,011$1,937,656
2018$1,832,443-▼ $98,738$25,000$1,694,824
2017$1,653,779-▲ $231,743$40,010$1,832,443
2016$1,720,494-▼ $27,931$43,888$1,636,251
2015$1,751,799-▲ $31,585$50,000$1,720,494
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Henry SangPresident
Gopal KumarappanVice President
Art CohenAt Large
Carrie YoungAt Large
Jerry LiuAt Large
Kristen LinAt Large
Seetha LakshmiAt Large
Timothy WidmanAt Large
Kiran Varshneya RohraSecretary
Janet TrankleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$24,041
Program Service Revenue
$0
Investment Income
$84,411
Other Revenue
$0
All Other Contributions
$24,041
Change in Net Assets
$51,453

Audited Revenue Reconciliation

Revenue per Audited Statements
$108,452
Revenue Not Reported on Form 990
$208,433
Total Revenue per Audited Statements
$316,885
Total Revenue per Form 990
$108,452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$35,950
Other Expenses$21,049
Total Fundraising Expense$1,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$35,950--$35,950
Fees for Services Accounting-$10,102-$10,102
Information Technology$4,074$150-$4,224
Insurance-$2,212-$2,212
Advertising--$1,500$1,500
Other Expenses$936$194-$1,130
Conferences and Meetings-$99-$99
Total Functional Expenses$40,960$14,539$1,500$56,999

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$56,999
Total Expenses per Audited Statements$56,999
Total Expenses per Form 990$56,999
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cupertino LibraryCupertino, CA-Educational$35,950
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
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
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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The tax return is prepared by a Certified Public Accountant and is forwarded to the Treasurer for review and approval. Once it is approved the Certified Public Accountant will print out the final return for signature and mailing. The tax return is made available to all board members prior to its filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All Officers / Directors are required to disclose potential conflicts prior to becoming a board member and are required to disclose any potential conflicts as they arise while serving on the board.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Organization makes its governing documents available to the public via the internet through the GuideStar website or via directly upon request.”

Filing and Contact Details

Filer

Filer Name
Cupertino Library Foundation
EIN
77-0372742
Phone
4082552102
Address
10800 Torre Avenue, Cupertino, CA 95014

Signing Officer

Name
Henry Sang
Title
President
Signed
2020-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Henry Sang
Formed
1994
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
22

Preparer

Firm
Iryna Ac
Address
1000 Broadway 200-G, Oakland, CA 94607
Preparer
Iryna Oreshkova CPA
Phone
5104679506
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Unrealized gain = $208433”

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“Endowment funds were received and are used, in accordance with the terms of endowment trust, for the benefit of the City of Cupertino Library.”

Part X : FIN48 Footnote

“The Foundation is not classified as a private foundation and is exempt from federal and state income taxes under section 501(c)3 of the Internal Revenue Code and Section 23701(g) of the California Code. The Foundation is considered a publicly supported organization. The Financial Accounting Standards Board prescribes a recognition threshold and a measurement attribute for financial statement recognition of tax positions taken or expected to be taken on a tax return. Management has evaluated its uncertain tax positions and related income tax contingencies and does not believe any material tax positions exist.”

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IRS990ScheduleA/FactsAndCircumstancesTestTxt0Current Year Facts and Circumstances: The Cupertino Library Foundation (CLF) serves both as an advocate for the Cupertino Library and as an advocate for the Community. Serving the Library, we seek to promote the Librarys needs and preferences when it is difficult for the Library to do so (owing to policy and intergovernmental relationships). Serving the Community, we look to find gaps or needs in our Community and work with the Library, partners, and our own board members to experiment with and affect changes. All of our programs are free and open to the Community independent of residence in the City of Cupertino. The 2019 board is composed of nine unpaid volunteers and it is a working board.In 2019, we are extremely active in all areas. A major request from the Santa Clara County Library District was to promote the expansion of the Cupertino Library by the City of Cupertino (different agency than the County) to create large multi-functional meeting spaces. Cupertino being the lone major branch without such facilities. Such an expansion was on the de-activated project list as of the January City Council Meeting.CLF board members met with City Councilmembers, City Staff, and presented at open City Council meetings advocating for the Library Expansion. We engaged members of the Community to call on knowledge and skills to form opinions on what would be a good operational fit for our needs. We worked with the Library and the District on requirements, library operations, and funding for furnishings and AV. After dozens of presentations, and meetings, we were able to get a task force setup and partial funding commitment from the City. After many hundreds of hours, we were able to secure funding from the City and approval for the Library Expansion starting in 2020 and being completed by the end of 2021. Community volunteers also spent approximately 100 hours working with CLF in the project. CLF was able to resurrect a dead project and get it approved and on track for implementation.CLF provided the funding for the design, selection and purchase of new furniture for the Library Courtyard. This funding was a request from the Library to replace aged furniture and to provide a better user space for our patrons. The three phase project cost $15,500 for the furniture and approximately $2500 for the consultation.We also saw the transformation of an experimental Wellness Program started by CLF in 2018 into a official Cupertino Library Program. CLF provided funding for speaker compensation, room rental and video services (Approximately $4000). There were six main topics comprising seven lecture events (one was both English and Chinese). In addition, the Library created a Wellness+ program as a follow-up for significantly engaged patrons. The lectures served approximately 450-500 patrons and the Wellness+ served an additional 200-300. CLF board members also provided operational support at these events.CLF and the Library partnered with the Cupertino Chamber of Commerce to do the 2019 Lets Talk Education Series aimed at helping students and parents understand the road to college and beyond. This included partnering the Fremont Union High School District, the Cupertino Union School District, other foundations and several local businesses. The CLF president was the chairman of the Committee and CLF board members managed three events and provided moderating for the panel discussions. There were seven events with approximately 700 participants in total. The Chamber of Commerce provided the funding for the space for the CLF events.The 2019 Super Summer Science Search (S4) program for Middle School students was run with the assistance of the Likachev Foundations grant. This program encourages small teams of students to do in depth research, data collection, problem definition, ideation, and presentations (written papers and videos) on the problem of What should our Library Program Room Expansion look like and do? This program involved 170 students,
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt024041
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
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IRS990ScheduleD/ExpensesSubtotalAmt056999
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IRS990ScheduleD/RevenueSubtotalAmt0108452
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Endowment funds were received and are used, in accordance with the terms of endowment trust, for the benefit of the City of Cupertino Library.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Foundation is not classified as a private foundation and is exempt from federal and state income taxes under section 501(c)3 of the Internal Revenue Code and Section 23701(g) of the California Code. The Foundation is considered a publicly supported organization. The Financial Accounting Standards Board prescribes a recognition threshold and a measurement attribute for financial statement recognition of tax positions taken or expected to be taken on a tax return. Management has evaluated its uncertain tax positions and related income tax contingencies and does not believe any material tax positions exist.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4: Intended uses of the endowment fund.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X : FIN48 Footnote
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IRS990ScheduleD/TotalRevenuePerForm990Amt0108452
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IRS990ScheduleI/GrantRecordsMaintainedInd0true
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Educational
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Cupertino Library
IRS990ScheduleI/RecipientTable/RecipientEIN0942694547
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt010400 Torre Avenue
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Cupertino
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd095014
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Organization works closely with Library management and understands the needs of the community. Support is provided for various projects and project costs are monitored in addition to the event itself. All requests are approved via a board action and the focus is to encourage life long learning and self improvement.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The tax return is prepared by a Certified Public Accountant and is forwarded to the Treasurer for review and approval. Once it is approved the Certified Public Accountant will print out the final return for signature and mailing. The tax return is made available to all board members prior to its filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All Officers / Directors are required to disclose potential conflicts prior to becoming a board member and are required to disclose any potential conflicts as they arise while serving on the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization makes its governing documents available to the public via the internet through the GuideStar website or via directly upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Unrealized gain = $208433
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,972,150
Liabilities
$0
Net assets
$1,972,150
Revenue
$108,452
Expenses
$56,999
Net income
$51,453
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.41$0.00$2.41$0.20$0.12$0.09
2023Detailed filing. Detailed filing data is available for this year.$2.18$0.00$2.18$0.05$0.23$0.18
2022Detailed filing. Detailed filing data is available for this year.$2.09$0.00$2.09$0.11$0.17$0.06
2021Detailed filing. Detailed filing data is available for this year.$2.53$0.00$2.52$0.41$0.09$0.31
2020Detailed filing. Detailed filing data is available for this year.$2.13$0.00$2.13$0.05$0.04$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.97$0.00$1.97$0.11$0.06$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.71$0.11$0.05$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.85$0.00$1.85$0.05$0.06$0.00
2016Summary only. Only limited summary data is available for this year.$1.67$0.00$1.67$0.03$0.08$0.06
2015Summary only. Only limited summary data is available for this year.$1.67$0.00$1.67$0.04$0.08$0.03
2014Summary only. Only limited summary data is available for this year.$1.76$0.00$1.76$0.04$0.08$0.04
2013Summary only. Only limited summary data is available for this year.$1.77$0.00$1.77$0.02$0.08$0.06
2012Summary only. Only limited summary data is available for this year.$1.60$0.00$1.60$0.05$0.09$0.03