Overview
What is Bentonville Library Foundation?
The Bentonville Library Foundation is a nonprofit organization located at 405 S MAIN ST, Bentonville, AR 72712. Their primary mission is to provide financial resources and maintain facilities to boost literacy and access to library services within their community. This mission is accomplished by engaging with the community and offering necessary and sustainable support for the Bentonville Public Library. Established in October 2006, the library has experienced continuous growth annually. The foundation's activities involve raising funds for programs and events held in the library, ultimately contributing to its overall growth and success. The foundation currently employs one individual.
Official website here: www.bentonvillelibraryfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating
The Bentonville Library Foundation has received a low overall score of 45% from Charity Navigator, indicating significant concerns regarding its financial health and accountability. While the organization demonstrates strong governance practices, including a fully independent board and robust financial oversight, it falls short in several critical financial metrics. This has contributed to its zero-star rating, which reflects a lack of efficiency and transparency in its operations.
Strengths of the foundation include a complete board composition with independent members and a solid commitment to governance policies such as conflict of interest and document retention. These factors suggest a level of organizational integrity that can be a strength in fostering trust with stakeholders. However, the high scores in governance do not compensate for the alarming deficiencies in financial ratios, indicating potential issues in managing resources effectively.
Notable limitations stem from the zero ratings in key areas such as program expense, fundraising efficiency, and overall liabilities to assets. These weaknesses highlight potential risks in the foundation’s operations, which may affect its long-term sustainability and ability to fulfill its mission effectively. Stakeholders and donors may want to consider these factors seriously before making commitments or contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Bentonville Library Foundation legitimate?
Bentonville Library Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bentonville Library Foundation 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: $80,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.bentonvillelibraryfoundation.org
What is the mission statement of Bentonville Library Foundation?
The Bentonville Library Foundation's mission is centered around engaging the community to provide sustainable financial support for the local public library. Their primary objective is to increase access to literature and enhance literacy within the community. They achieve this by developing financial resources and maintaining library facilities, thereby benefiting the programs and services offered by the public library. The foundation also funds various events held in the library, which has been operational since October 2006 and continues to grow each year.
Official website here: www.bentonvillelibraryfoundation.org
Who is the CEO of Bentonville Library Foundation?
Howard Kerr is the President of Bentonville Library Foundation.
Official website here: www.bentonvillelibraryfoundation.org
What is the revenue of Bentonville Library Foundation?
Bentonville Library Foundation's revenue in 2022 was $2,543,307.
Official website here: www.bentonvillelibraryfoundation.org
Who are the executives of Bentonville Library Foundation and what are their salaries?
The average compensation at Bentonville Library Foundation during 2022 was $80,000. There is 1 employee and 22 volunteers at Bentonville Library Foundation.
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- Compensation: $80,000
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Official website here: www.bentonvillelibraryfoundation.org
Where can I find the form 990 for Bentonville Library Foundation?
Bentonville Library Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bentonvillelibraryfoundation.org
Learn more at the official website: www.bentonvillelibraryfoundation.org
Mission Statement of Bentonville Library Foundation
The Bentonville Library Foundation, a nonprofit organization, is committed to engaging the community to provide sustainable financial support for the Bentonville Public Library. Their mission is twofold: firstly, they aim to increase access to literature and enhance literacy within the community. Secondly, they strive to maintain the library's facilities and develop financial resources to bolster the programs and events held within the library. This dedicated nonprofit has been instrumental in the growth of the Bentonville Public Library since its opening in October 2006, funding various events and programs that continue to enrich the library's offerings each year.
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Impact
July, 2024
The Bentonville Library Foundation's impact is felt through its unwavering support for the Bentonville Public Library. By providing necessary and sustainable financial resources, the foundation plays a crucial role in enhancing literacy and increasing access to educational resources in the community. Through funding programs and events at the library, the foundation contributes to the growth and development of a vital community hub that has been serving residents since its opening in October 2006.
This information is meant to be a general summary of Bentonville Library Foundation. 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 2022.
- Investment Income: $11,772
- Gross Receipts: $2,578,633
Assets and Liabilities:
- Total Assets: $3,480,951
- Total Liabilities: $3,172
- Net Assets: $3,477,779
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Organization Details
Founding Year
2004
Phone
(479) 271-2464Principal Officer
Howard Kerr
Main Address
405 S MAIN ST, BENTONVILLE, AR, 72712
NTEE Category
Code: B70 - Education
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