The Library Foundation

Nonprofit profile at a glance

EIN
931190983
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Portland, OR, USA
Phone
5032234008
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Humanities Organizations

Official website

Reported finances

Revenue
$3,452,198
Expenses
$4,045,994
Assets
$28,892,350
Liabilities
$943,955

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

Leadership & pay

20 people listed

Highest reported compensation

  • DAN LOVE CENTERWALL (EXECUTIVE DIR.): $146,637 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 library foundation strengthens our community and creates a brighter future for children by supporting, expanding and advocating for multnomah county library's innovative and groundbreaking work. Gifts, large and small, make this work possible.

What it reported doing in 2024

Early literacy programs that motivated families to read together reached more than 100,000 babies, young children and parents. Engaging books, parent education, and storytimes enabled parents to become their child's first, best, and most permanent teacher. Every child a reader reached 31,000 young children and caregivers, sending books home in 30 languages, motivating families to read together at home. Storytimes reached 52,000 children and parents at library locations, out in the community, and at home. The wic partnership reached 20,000 low-income moms and children with literacy education. Dia de los ninos engaged 5,000 children and parents with bilingual literacy programs. The new parent program sent 4,900 newborns and parents home with literacy education and an introduction to library services.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 80% of its reported program spending out as grants.
  • 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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86%; rating input score 86
  • Fundraising efficiency: $26.2 raised per $1 spent on fundraising; rating input score 66; 66th 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: 100%; rating input score 100; 72nd 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: 6 of 8 controls in place; rating input score 75
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -17.2%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 7.14; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $3.5M in reported program spending
  • Leadership: top reported pay $147K · 20 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Sustainability: Operating margin scored 8/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.