Lafayette Library and Learning Center Foundation

Nonprofit profile at a glance

EIN
260403799
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Lafayette, CA, USA
Phone
9252836513
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Libraries

Official website

Reported finances

Revenue
$3,373,086
Expenses
$1,815,701
Assets
$31,543,398
Liabilities
$1,152,690

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Highest reported compensation

  • Carol Varney (Executive Dir.): $140,516 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Lafayette Library and Learning Center Foundation raises funds for valuable library resources, offers engaging programming, and fosters community building to amplify the Lafayette Library and Learning Center's visibility, reach, and impact.

What it reported doing in 2024

The Lafayette Library and Learning Center Foundation is the primary source of funding for the Lafayette Library and Learning Center. Funded exclusively by private donations from individuals, foundations and businesses/corporations, as well as earned income, the Foundation provides funding for the City of Lafayette for all of the library building's operations. The Foundation's sources of earned income are public programs offered annually, as well as rental of spaces throughout the Library and Learning Center's building. The Foundation also operates its own programs in response to community needs and interests, including series focused on authors; health, wellness and aging; Culinary Arts and Sciences; and Civic Conversations. These public programs help to animate the lifelong learning of all audience members while also funding the Library and Learning Center.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.1%; rating input score 87
  • Program expense ratio: 73.7%; rating input score 74
  • Fundraising efficiency: $2.93 raised per $1 spent on fundraising; rating input score 8; 8th 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: 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 46.2%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 17.37; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 87.1% of revenue deployed · 73.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $141K · 13 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.