The Queens Library Foundation Inc

What it reported doing in 2024

The queens library foundation raised $4,255,365 from foundations, corporations and individuals to support the programs, activities and collections of queens public library. This included restricted grants totaling $1.2 million for english as a second language classes, college readiness, and workforce training; $185,000 for stem programming for children and youth; $183,500 for summer reading programming; $110,000 for out-of-school literacy and enrichment programs; $105,000 for the new americans program; $75,000 for climate literacy workshops; $75,000 for job training and entrepreneurship workshops; $55,000 for digital archives; and $25,000 for arts and other programming. In addition, the foundation disbursed restricted donations of $193,081 to community libraries throughout the queens library system, and $149,765 for books. The queens library foundation continued to manage multi-year grants secured in previous years which resulted in the continued expansion of the queens name explorer digital map; the upgrade of the library's digital asset management system; enrichment and literacy activities for children and youth at multiple locations; job training and entrepreneurship programs at ravenswood and other locations; and environmental and stem programming at the hunters point library and environmental education center. Unrestricted grants and contributions awarded to the queens library foundation were used to support collections, programs and services throughout the library system. These included $137,507 in mini-grants of up to $2,500 distributed to community libraries for programs, activities and collections; and $25,000 for back-to-school giveaways. The queens library foundation also secures in-kind donations to help support the library's programs and activities. In fy2025, this included 1,090 backpacks stuffed with school supplies and 375 seed pencils for back-to-school giveaways; 450 new books; 120 cases of bottled water for giveaways at events; gaming systems and software for ravenswood teen programming; and 75 webcams for library computers. The foundation also organized 23 corporate volunteer events to maintain and plant library gardens, organize and staff a prom attire giveaway, assemble literacy kits, and lead financial literacy workshops.

Financial Efficiency

• Mission deployment rate: 66%; rating input score 66
• Program expense ratio: 67.8%; rating input score 68
• Fundraising efficiency: $3.94 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• 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: 94.7%; rating input score 95; 25th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • 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: 22.9%; rating input score 79; 79th percentile among comparable filings
• Total-asset coverage ratio: 6.27; rating input score 86; 86th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
• Officer compensation ratio: 17%; rating input score 16; 16th percentile among comparable filings

Growth

• Program expense growth: 5.6% per year; rating input score 100; 43rd percentile among comparable filings
• Revenue growth: 2.9% per year; rating input score 100; 26th percentile among comparable filings
• Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings