La County Library Foundation

What it reported doing in 2024

La county library foundation provided funding for la county library programs and locations, and also conducted educational outreach and awareness building about library programs and resources.in another turbulent year, la county library shone bright - a cornerstone of the community - providing tangible resources, trustworthy information, a safe place, and hope.la county library foundation, with its generous donors, were part of that - supporting programs and services to meet the unique needs of individuals and communities served by 86 libraries stretching across more than 3,000 square miles.support from the library foundation made a difference:- encouraging literacy and battling isolation with the library's summer discovery program to engage all ages - from babies and toddlers to older adults - in reading, programs, and using library resources. Exploring nature throughout the county with virtual science, technology, engineering, arts, and math (steam) programming, and hands-on exploration kits- promoting cultural understanding and inclusion- supporting students and developing lifelong learners with books, ebooks, and audiobooks, and opportunities for creating art and experiencing music- engaging young people and their families with the library via outreach with a my brother's peer advocate at carson library- engaging more people in using and supporting library programming, resources, and services - free and welcoming to all.- promoting the freedom to read, including with books unbanned, to provide any teen anywhere in California with free access to the entire library collection of ebooks and e-audiobooks, and to add to the library's collection.-uniting la county with one book, one county a county-wide read of "la weather" by maria amparo escandon with literacy activities, a festival, and author talk.

Financial Efficiency

• Mission deployment rate: 71.6%; rating input score 72
• Program expense ratio: 76.9%; rating input score 77
• Fundraising efficiency: $8.38 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• 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: 5 of 8 controls in place; rating input score 62
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Fail
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 7.3%; rating input score 55; 55th percentile among comparable filings
• Total-asset coverage ratio: 1.07; rating input score 42; 42nd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
• Officer compensation ratio: 36.6%; rating input score 8; 8th percentile among comparable filings

Growth

• Program expense growth: 16.5% per year; rating input score 100; 81st percentile among comparable filings
• Revenue growth: 17.3% per year; rating input score 100; 85th percentile among comparable filings
• Asset growth: 6.9% per year; rating input score 100; 55th percentile among comparable filings