Cleveland Public Library Foundation

What it reported doing in 2024

The cleveland public library foundation exists to raise philanthropic support for cleveland public library. The foundation allows the library to do more for the people of this community given the work outside the scope of traditional library services is not funded by the state and local tax dollars received by the library. When you invest in the work of the cleveland public library through the foundation, you invest in the city of cleveland. Your investment impacts the following areas: foundation goals goal 1 achieve financial targets implement fmp (facilities master plan) capital enhancements to augment the cleveland public library ten-year capital plan to improve all 27 of its neighborhood branches, the foundation will lead fundraising efforts for fmp capital enhancements to activate the system's outdoor spaces at each branch inclusive of naming opportunities. The goal is to create outdoor environments to serve as welcoming and inclusive spaces that bring library programs and services directly into the communities they serve. Each space will be developed in tandem with the library's capital projects team and will reflect the diverse and distinct neighborhoods in which they reside. Fmp capital enhancements will address the library's broader strategic goals in the following ways: goal 2 ensure the long-term financial sustainability of the foundation build the operating reserves of the foundation and develop reserve funding policy. Goal 3 raise funding to support reading literacy & digital equity programs the foundation will raise funding for library reading and digital equity programs to help the library address these issues. Funding for programs in these areas will allow the library to serve more audiences in the city of cleveland and beyond. Goal 4 provide financial support for library programs that address real- time community needs the foundation will provide fundraising dollars to the library to support other areas of its strategic plan that address real-time community needs. Goal 5 bolster the foundation's reputation in the region through enhancing board infrastructure to engage new audiences build the reputation of the organization by engaging new audiences. This will be achieved through the lens of par: - philanthropy: give or get new fundraising dollars - advocacy: participate in advocacy efforts that yield financial, legislative, and/or policy resources for the library and its mission - relationships: identify new audiences to introduce the work of the library & foundation ensure every child reads: cleveland public library prioritizes its youth literacy efforts. From story time, tutoring, and homework help to resources for parents and educators, our role is to ensure children have the tools they need to be successful readers. Community connector: the library serves as a connector for social services and other basic need resources for the community. Whether adult patrons need access to education services or children need access to healthy food options, you can find it at cleveland public library. Workforce ready: through programs, services, and community partnerships cleveland public library ensures clevelanders have the skills and resources they need to be successful in the workforce. Bridge the cultural divide: the library offers people a platform to learn first hand from each other and come to appreciate the variety and richness of the worlds cultures. Emerging technology, our featured exhibitions, and collections presents opportunities to broaden the avenues for intercultural engagement.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 96%; rating input score 96
• Fundraising efficiency: $25.36 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 7 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -221.5%; rating input score 0; 0th percentile among comparable filings
• Total-asset coverage ratio: 0.89; rating input score 39; 39th percentile among comparable filings
• Liabilities to assets ratio: 0.32; rating input score 23; 23rd percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 20.1% per year; rating input score 100; 83rd percentile among comparable filings
• Revenue growth: 14.6% per year; rating input score 100; 78th percentile among comparable filings
• Asset growth: 5.9% per year; rating input score 100; 43rd percentile among comparable filings