Overview
What is Fayetteville Public Library Foundation?
The Fayetteville Public Library Foundation is a nonprofit organization located in Fayetteville, Arkansas. Its primary mission involves spearheading significant fundraising initiatives to address the financial gap resulting from shrinking municipal budgets and the library's expanding needs. The foundation is instrumental in constructing and maintaining a new library, promoting the library's role in fostering reading, knowledge acquisition, and nurturing a passion for literature. By undertaking these activities, the Fayetteville Public Library Foundation aims to enrich the community and contribute to the love of learning.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating, 61%)
The Fayetteville Public Library Foundation has received a two-star rating from Charity Navigator, indicating that the organization requires improvement in certain areas. The foundation excels in accountability and financial transparency, as evidenced by its independent board composition and strong policies regarding conflict of interest and whistleblower protections. However, it faces challenges in financial metrics, particularly with a low program expense ratio and a high liabilities-to-assets ratio.
While the foundation demonstrates a commitment to community engagement and equity strategies, achieving a score of 93 out of 100, its financial health raises concerns. Specifically, the low percentage of funds allocated to programs suggests a need for better resource management to ensure that more of the contributions directly support their mission. Additionally, while feedback collection and usage are rated highly, there are noted challenges in this area, indicating room for improvement.
Overall, the Fayetteville Public Library Foundation has strengths in governance and community involvement but must address its financial practices to enhance its overall effectiveness and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Fayetteville Public Library Foundation legitimate?
Fayetteville Public Library Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fayetteville 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:
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Other Salaries and Wages: $157,077
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What is the mission statement of Fayetteville Public Library Foundation?
The Fayetteville Public Library Foundation plays a pivotal role in spearheading significant fundraising initiatives. These campaigns aim to address the financial gap resulting from shrinking municipal budgets and the library's increasing requirements. The foundation's mission is twofold. Firstly, it works towards constructing and maintaining a new library facility. Secondly, it fosters the library's role in promoting reading, knowledge acquisition, and a passion for literature. The ultimate goal is to enhance the library's capacity and encourage a love for literature among its patrons.
Who is the CEO of Fayetteville Public Library Foundation?
Teresa Cornett is the President - Start 8/2022 of Fayetteville Public Library Foundation.
What is the revenue of Fayetteville Public Library Foundation?
Fayetteville Public Library Foundation's revenue in 2022 was $1,694,547.
Who are the executives of Fayetteville Public Library Foundation and what are their salaries?
The average compensation at Fayetteville Public Library Foundation during 2022 was $52,359. There are 3 employees and 45 volunteers at Fayetteville Public Library Foundation.
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Where can I find the form 990 for Fayetteville Public Library Foundation?
Fayetteville Public Library Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fayetteville Public Library Foundation
The Fayetteville Public Library Foundation plays a pivotal role in spearheading significant fundraising initiatives. Its primary objective is to bridge the financial gap that arises due to shrinking municipal budgets and the library's escalating needs. This nonprofit organization is dedicated to enhancing the library's role in fostering a love for reading, knowledge acquisition, and literature. The Fayetteville Public Library Foundation also focuses on advancing the library's mission, contributing to its development and maintenance.
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Impact
July, 2024
The Fayetteville Public Library Foundation's impact is significant in bridging the gap caused by shrinking municipal budgets and the library's growing needs. Through major fund-raising campaigns, the foundation plays a crucial role in building and maintaining a new library in Fayetteville, Arkansas. Additionally, it works towards advancing the role of the library in encouraging reading, knowledge acquisition, and a love of literature among the community. By spearheading these initiatives, the foundation contributes to the educational development and cultural enrichment of the residents in Fayetteville.
This information is meant to be a general summary of Fayetteville 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.
- Investment Income: $145,122
- Gross Receipts: $2,783,097
Assets and Liabilities:
- Total Assets: $28,107,099
- Total Liabilities: $8,132,504
- Net Assets: $19,974,595
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Organization Details
Founding Year
1999
Phone
(479) 856-7102Principal Officer
Teresa Cornett
Main Address
401 W MOUNTAIN, FAYETTEVILLE, AR, 72701
NTEE Category
Code: B110 - Education
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