Friends of the Hennepin County Library

What it reported doing in 2025

Public awareness and donor engagement: talk of the stacks is a free author lecture series produced by friends with guest authors who focus on contemporary literature and culture across an array of social, economic and global topics. The 2025 season included four in-person events, that also offered a virtual livestream option, and one virtual-only program. In total, 740 people attended in-person events, 2,190 households attended virtual programs and 1,590 accessed on-demand recordings throughout the year at no cost. In addition to these programs, one author/book club panel event was produced with 225 people attending in-person, 140 households attending virtually, and another 290 attendees viewing the on-demand recording thereafter. Finally, one library fundraiser was (continued on schedule o)attended by 151 guests, and one donor stewardship luncheon was attended by 116 guests. Further public awareness pieces on behalf of the library system: 2,500 printed event guides were distributed to audience members at the five in-person pen pals events and four in-person talk of the stacks events, and 1,036 attendees accessed virtual event guides. More than 25,984 print newsletters were distributed. 12 email communications were sent to 30,779 e-news subscribers. Social media followers (facebook, instagram, twitter, linkedin) grew to 14,883 subscribers, and there were 163,934 fhcl website visits.

Financial Efficiency

• Mission deployment rate: 60.3%; rating input score 60
• Program expense ratio: 79.4%; rating input score 79
• Fundraising efficiency: $7.46 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 75th 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: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: 29%; rating input score 81; 81st percentile among comparable filings
• Total-asset coverage ratio: 2.54; rating input score 65; 65th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 70; 70th percentile among comparable filings
• Officer compensation ratio: 7.8%; rating input score 42; 42nd percentile among comparable filings

Growth

• Program expense growth: 9.2% per year; rating input score 100; 57th percentile among comparable filings
• Revenue growth: 9.9% per year; rating input score 100; 65th percentile among comparable filings
• Asset growth: 10.8% per year; rating input score 100; 61st percentile among comparable filings