Overview
What is Carroll County Public Library Foundation?
The Carroll County Public Library Foundation is a nonprofit organization located in Carrollton, Kentucky. Its primary mission is to support the Carroll County Public Library and facilitate financing for its facility. In the past, the foundation has solicited contributions and grant money to expand the library. Currently, the library's new facility is leased to the foundation, with rent payments used to retire debt associated with the construction and fund future projects. The foundation's operations also involve reporting revenues received from the library for debt retirement as non-business income. Its activities primarily focus on supporting the library and contributing to its growth and maintenance.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (73%, Two-Star out of Four Star rating)
The Carroll County Public Library Foundation has received a Two-Star rating from Charity Navigator, indicating areas that require improvement, particularly in transparency and governance practices. While the organization excels in program expense ratio and has a strong independent board composition, it has several missing policies and documentation, which negatively impact its overall score.
Strengths of the foundation include a 99.47% program expense ratio and a solid accountability framework, evidenced by having 88% independent board members and no material diversion of assets. These factors contribute positively to its financial health and demonstrate a commitment to utilizing funds effectively for its mission.
However, limitations are evident primarily in the lack of essential governance policies such as a conflict of interest policy, whistleblower policy, and a document retention and destruction policy. Additionally, the absence of the foundation's website link on its tax form and the failure to post its tax form on its website detract from its transparency, signaling a need for improvement in its operational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Carroll County Public Library Foundation legitimate?
Carroll County Public Library Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Carroll County Public 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Carroll County Public Library Foundation?
The Carroll County Public Library Foundation's mission is to support the Carroll County Public Library by providing financing for its facility. In the past, the foundation has solicited contributions and grant money to expand the library. Currently, the expanded facility is leased to the library, with the rent paid by the library being used to retire the debt associated with the new facility and fund future anticipated capital projects. The foundation's primary role is to ensure the library has the necessary financial resources to serve its community effectively.
Who is the CEO of Carroll County Public Library Foundation?
Ruth Baxter is the Ex-Officio of Carroll County Public Library Foundation.
What is the revenue of Carroll County Public Library Foundation?
Carroll County Public Library Foundation's revenue in 2022 was $105,145.
Who are the executives of Carroll County Public Library Foundation and what are their salaries?
There 11 volunteers at Carroll County Public Library Foundation.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $64,159
- Other: $17,238
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Carroll County Public Library Foundation?
Carroll County Public Library Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Carroll County Public Library Foundation
The Carroll County Public Library Foundation's mission lies in supporting the Carroll County Public Library. This is achieved primarily by providing financing for the library's facility. In the past, the foundation has actively sought out contributions and grants to aid in the expansion of the library. Currently, the newly expanded facility is leased to the library, with the rental payments made by the library being utilized to retire any debt associated with the expansion and to fund future anticipated capital projects. The foundation plays a crucial role in ensuring the library has the necessary financial backing to continue its services and grow, ultimately benefiting the community it serves.
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Impact
October, 2024
The Carroll County Public Library Foundation significantly impacts the community by supporting the Carroll County Public Library and enhancing its facilities. Through targeted fundraising efforts, the Foundation has successfully solicited contributions and grants which facilitated the expansion of library services in the area.
The newly constructed facility, now leased to the library, plays a crucial role in providing a vibrant space for education and community engagement. Revenue generated from the library’s rental payments is strategically used to retire the debt incurred during construction and to plan for future capital projects, ensuring the sustainability and growth of library services.
By fostering a well-equipped environment, the Foundation not only strengthens the library’s resources but also its potential to serve and educate the public, making a lasting contribution to the community's educational landscape.
This information is meant to be a general summary of Carroll County Public 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.
- Program Service Revenue: $98,695
- Gross Receipts: $105,145
Assets and Liabilities:
- Total Assets: $1,622,635
- Total Liabilities: $474,471
- Net Assets: $1,148,164
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT CARROLL CO LIBRARY
Revenue
$98,695
Organization Details
Founding Year
1987
Phone
(502) 732-6688Principal Officer
Ruth Baxter
Main Address
136 COURT STREET P O BOX 365, CARROLLTON, KY, 41008
NTEE Category
Code: B70 - Education
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