Friends of the Library Montgomery County Maryland Inc

What it reported doing in 2024

Friends of the library, montgomery county, Maryland, inc. (folmc) supports montgomery county public libraries (mcpl) and promotes lifelong learning in montgomery county, md, by providing supplemental funding, programs, and materials and equipment to mcpl to augment public funding. Folmc's primary source of funding comes from the sale of donated books. Major projects that folmc has supported include, but are not limited to, the following: contemporary conversations: this series began in fy17 and is a collaboration between mcpl and folmc led by the office of the county executive. The goal is to bring notable speakers to the county's libraries for timely conversations about issues the community, county, and country face.workshops/classes: folmc funds the advancement and training for the entire mcpl staff at an annual staff development day workshop. Staff skills are strengthened through team building and networking activities and as well as customer service and technology training to better serve the montgomery county community.mosaic: celebrating diversity through creative writing: this annual program targets county middle school students and provides a constructive outlet for creative expression highlighting the diverse and cultural backgrounds of the students. Students are encouraged to write about personal experiences, family traditions, or cultural perspectives through the form of poems, essays, or short stories. Winning and honorable mention entries are published into an anthology and distributed to the schools and cataloged in each library branch. Winning and honorable mention students are invited to a reception in may to present for one minute their work, experience a keynote addressfrom a successful author, and interact with other students with similar interests. Partners are mcpl and montgomery county public schools. In 2020 this program was expanded to include writing workshops and was approved for mcps for community service opportunities.library lovers month: every february activities take place in all mcpl branches to celebrate the importance of libraries in our county. A kickoff is held with family entertainment and activities for children. All month long, patrons at every branch are encouraged to complete postcards describing why they love their library.library supporter events: a variety of events are held throughout the year to connect community members which focus on supporting and championing the library community. Attendees engage in networking, brainstorming, and general planning for future library initiatives and goals.branch mcpl programs and events (folmc also supports): folmc exclusively funds the summer reading program for children and adults. Other events include english conversation clubs (for patrons looking to practiceenglish speaking skills), book discussion groups, children's story times, science, technology, engineering, and math (stem) programs, community celebrations, and more. We also fund grants to mcpl which support a variety of initiatives including early literacy centers, computer stations, and discovery rooms for children; go! Kits - take-home technology packs which include books, science kits, and ipads pre-loaded with educational apps; stem stations and various other piloted technologies and software.used bookstores and outreach activities: folmc operates two award-winning used bookstores that provide quality, gently-used materials at affordable prices to customers across the county. The bookstore revenue supports folmc program expenses and funds other mcpl programs and initiatives. Our bookstores serve as community staples and are highly regarded for having a variety of quality materials and knowledgeable staff and volunteers. Also operate branch booksales in addition to the used bookstores.

Financial Efficiency

• Mission deployment rate: 70.9%; rating input score 71
• Program expense ratio: 70.2%; rating input score 70
• Fundraising efficiency: $53.13 raised per $1 spent on fundraising; rating input score 79; 79th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• 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: 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: 2.4%; rating input score 43; 43rd percentile among comparable filings
• Total-asset coverage ratio: 1.95; rating input score 64; 64th percentile among comparable filings
• Liabilities to assets ratio: 0.51; rating input score 15; 15th percentile among comparable filings
• Officer compensation ratio: 8.9%; rating input score 41; 41st percentile among comparable filings

Growth

• Program expense growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
• Revenue growth: 5.2% per year; rating input score 100; 44th percentile among comparable filings
• Asset growth: 14% per year; rating input score 100; 70th percentile among comparable filings