Overview
What is The Library Foundation Of New Hanover County Inc?
The Library Foundation of New Hanover County Inc, situated at 201 Chestnut Street, Wilmington, NC 28401, is a nonprofit organization. Its primary objective is to enhance the services offered by the New Hanover County Public Library. Through their funding efforts, they aim to supplement, rather than replace, the role of the New Hanover County in sustaining its public library system. The foundation's mission contributes to the library's growth and development, ultimately benefiting the local community.
Official website here: www.libraryfoundationnhcpl.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Two-Star out of Four Star rating, 73%
The Library Foundation Of New Hanover County Inc has received a two-star rating from Charity Navigator, indicating that the organization shows some strengths but has significant areas that require improvement. The accountability and finance score of 73% reflects a solid performance in some financial metrics, such as having a 0.00% liabilities to assets ratio and a high program expense ratio of 98.49%. This suggests that most of the funds are directed toward the organization’s programs rather than administrative costs.
However, there are notable weaknesses highlighted in the rating. The foundation lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which have resulted in zero points in these areas. Additionally, the absence of documented board meeting minutes and the failure to post the tax form on their website are concerning gaps in transparency and governance practices.
The foundation does have a fully independent board, which is a positive sign for its governance. Nevertheless, the absence of certain accountability mechanisms may hinder stakeholder confidence. Addressing these limitations could significantly improve the organization’s rating and enhance its operational transparency.
This AI summary has been generated from information found on Charity Navigator.
Is The Library Foundation Of New Hanover County Inc legitimate?
The Library Foundation Of New Hanover County Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Library Foundation Of New Hanover County Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.libraryfoundationnhcpl.org
What is the mission statement of The Library Foundation Of New Hanover County Inc?
The Library Foundation of New Hanover County Inc. has a mission to enhance the services of its local public library. By providing additional funding, the foundation aims to supplement, but not replace, the responsibility of the local county government to adequately support the library system. This mission is designed to enhance the library's offerings and contribute to a more robust and comprehensive public library experience for its users. The foundation's role is to complement the county's efforts, thereby enhancing the overall library experience.
Official website here: www.libraryfoundationnhcpl.org
What is the revenue of The Library Foundation Of New Hanover County Inc?
The Library Foundation Of New Hanover County Inc's revenue in 2024 was $89,133.
Official website here: www.libraryfoundationnhcpl.org
Who are the executives of The Library Foundation Of New Hanover County Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.libraryfoundationnhcpl.org
Where can I find the form 990 for The Library Foundation Of New Hanover County Inc?
The Library Foundation Of New Hanover County Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.libraryfoundationnhcpl.org
Learn more at the official website: www.libraryfoundationnhcpl.org
Mission Statement of The Library Foundation Of New Hanover County Inc
The Library Foundation of New Hanover County Inc has a mission to enhance the services offered by the New Hanover County Public Library. This nonprofit organization aims to provide additional funding that complements, but does not replace, the responsibility of the county to adequately support its public library system. By doing so, it seeks to strengthen the library's capabilities, ensuring it can offer a wider range of resources and services to its community. The foundation's mission is a testament to its commitment to supporting the library and promoting the growth of knowledge and learning opportunities for all members of the community.
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Impact
August, 2024
The Library Foundation Of New Hanover County Inc strengthens the services of the New Hanover County Public Library by providing funding that complements the county's support of the public library system. Their efforts enhance educational opportunities and access to resources for the community in Wilmington, NC.
This information is meant to be a general summary of The Library Foundation Of New Hanover County Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $29,453
- Gross Receipts: $92,112
Assets and Liabilities:
- Total Assets: $926,704
- Total Liabilities: $0
- Net Assets: $926,704
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Organization Details
Principal Officer
Kate Baynard
NTEE Category
Code: B117 - Education
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