Overview
What is The Library Foundation Inc?
The Library Foundation Inc, situated in Bradenton, Florida, serves as a crucial supporter for the Manatee County Library System. Their mission is to secure additional funds and resources, enabling the library system to fulfill its role as a vital community asset. They accomplish this by allocating a portion of their unrestricted funds annually, and supplementing traditional funding with necessary materials. The County representative is responsible for drafting funding requests for these additional resources. The Library Foundation Inc's activities contribute significantly to enhancing the Manatee County Library System's potential and ensuring its enduring value to the community.
Is The Library Foundation Inc legitimate?
The Library Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Library Foundation 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.
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What is the mission statement of The Library Foundation Inc?
The Library Foundation Inc's mission is to enhance the Manatee County Library System's capabilities by securing supplemental funds and support. This mission aims to empower the library system to fully realize its potential as a crucial community resource, both now and in the future. The foundation achieves this by managing necessary funds and providing resources that would not typically be accessible through conventional funding sources. An annual distribution from their unlimited funds, held by the Manatee Community Foundation, is a part of their strategy. Additionally, they allocate a specific percentage from their restricted funds for this purpose. Requests for funding are drafted by a county representative, mainly for library materials.
What is the revenue of The Library Foundation Inc?
The Library Foundation Inc's revenue in 2024 was $1,173,023.
Who are the executives of The Library Foundation Inc and what are their salaries?
There 10 volunteers at The Library Foundation Inc.
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Where can I find the form 990 for The Library Foundation Inc?
The Library Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of The Library Foundation Inc
The Library Foundation Inc, a nonprofit organization, is dedicated to ensuring that the Manatee County Library System thrives as a vital community resource. To accomplish this, the foundation works tirelessly to secure and manage supplemental funds and support. By doing so, it aims to enhance the library system's capabilities today and in the future. The foundation achieves this by distributing funds from its unlimited resources, with a budget of 3.5% from its restricted funds, and by collaborating with the county representative to draft funding requests for materials that would not be available through traditional funding sources.
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Impact
October, 2024
The Library Foundation Inc significantly enhances the Manatee County Library System by securing supplemental funds that enable the library to thrive as a vital community resource. Through careful budgeting and strategic distribution from both unrestricted and restricted funds held by the Manatee Community Foundation, the organization ensures that essential materials and resources continue to be available, which would otherwise go unfunded through traditional means. This support allows the libraries to expand their offerings, provide educational resources, and foster community engagement, making them indispensable in promoting literacy, learning, and cultural enrichment in the Bradenton area and beyond.
This information is meant to be a general summary of The Library Foundation 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: $85,546
- Gross Receipts: $1,375,027
Assets and Liabilities:
- Total Assets: $2,927,251
- Total Liabilities: $6,388
- Net Assets: $2,920,863
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Organization Details
Founding Year
1985
Principal Officer
Jennifer Ruffino-Cook
NTEE Category
Code: B70 - Education
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