Friends of the Spartanburg County Public Library

What it reported doing in 2024

The organization provides direct financial support to the spartanburg county public library system ("library system") in furtherance of its mission to enhance and expand library services and facilities available to the spartanburg county community. During the fiscal year, the organization made grants and allocations to the library system totaling $1,309,038.the most significant activity during the year was the acquisition and donation of the 2nd spartan regiment battle flag, a revolutionary war-era artifact with direct historical significance to spartanburg, South Carolina. The library system's board of trustees voted to contribute $1,200,000 to the organization specifically to fund this acquisition. The friends' board of directors separately voted to authorize the purchase, with the library system's director recused from that vote due to his institutional affiliation, and designated the county librarian as its authorized signing representative solely for purposes of executing the purchase agreement. The organization purchased the flag from its private owners and immediately donated it to the library system for permanent public display, consistent with the american revolution 250th anniversary programmatic initiative. The organization retained no ownership interest in the artifact and derived no economic benefit from the transaction.additional grants made during the year supported reading and literacy programs for children, youth, and adults across the library system's branch locations; recognition and appreciation activities for library system staff and volunteers whose contributions fall outside the library system's operating budget; capital project contributions including the headquarters planetarium project; and the purchase of collection items donated directly to the library system upon acquisition.

Financial Efficiency

• Mission deployment rate: 92.7%; rating input score 93
• Program expense ratio: 99.6%; rating input score 100
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 90%; rating input score 90; 5th 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: 1 of 7 controls in place; rating input score 14
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 7%; rating input score 55; 55th percentile among comparable filings
• Total-asset coverage ratio: 0.13; rating input score 6; 6th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 10.1% per year; rating input score 100; 63rd percentile among comparable filings
• Revenue growth: 19.8% per year; rating input score 100; 85th percentile among comparable filings
• Asset growth: 9.6% per year; rating input score 100; 57th percentile among comparable filings