The Library Foundation of Los Angeles

What it reported doing in 2024

Engaging the imagination: through its acclaimed aloud cultural programming series, lfla brings renowned and emerging literary artists, filmmakers, scientists, musicians, policymakers, and other luminous minds into direct conversation with the library's patrons. Lfla also supports lapl's l.a. Made series, which delivers humanities-based programming across the city's diverse communities. Lfla and lapl exhibition projects highlight lapl's historic collections and services, the diverse stories and people of the city of l.a., and contemporary issues. In 2024-2025, lfla and lapl launched the third cohort of the lapl creators in residence initiative. The fellowship program engaged two creative practitioners, fashion designer and entrepreneur ashley walker and food writer and author tien nguyen, who are producing unique new work informed by lapl's collection and services. Their projects, including displays of menus from the library's special collections and newly designed outfits inspired by la history at branch libraries across the city, will launch publicly in december 2025. Our most recent major exhibition, no prior art: illustrations of invention, was on view from september 2024 through may 2025 and welcomed more than 43,000 visitors the project also included 81 free public programs at 23 library locations. Lfla also supports digitization projects at lapl that archive and preserve collections of photos, ephemeral, maps, and other items so they can be accessed online by researchers, students, and other curious minds. With library foundation support, lapl completed the planning phase of "community: memory and belonging in l.a." the five-year project funded by a mellon foundation grant will cultivate community archiving practices and help lapl enhance its digital special collections related to l.a.'s black, lgbt+ latinx, and skid row communities. Lfla also supported lapl cultural celebrations throughout 2024-2025, including the l.a. Libros festival, the aapi joy festival, and the june jubilee in honor of black excellence.

Financial Efficiency

• Mission deployment rate: 90.8%; rating input score 91
• Program expense ratio: 61.5%; rating input score 62
• Fundraising efficiency: $3.11 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 6 of 6 controls in place; rating input score 100
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• 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: 9 of 9 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: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.4%; rating input score 18; 18th percentile among comparable filings
• Total-asset coverage ratio: 6.92; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
• Officer compensation ratio: 14.9%; rating input score 19; 19th percentile among comparable filings

Growth

• Program expense growth: 1.5% per year; rating input score 100; 20th percentile among comparable filings
• Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
• Asset growth: 5.8% per year; rating input score 100; 39th percentile among comparable filings