Overview
What is Hot Springs County Library Foundation?
The Hot Springs County Library Foundation is a nonprofit organization dedicated to supporting the local library. Their primary mission involves encouraging donations, endowments, and memorials for library buildings, programs, and specific items. They manage these funds effectively, ensuring they contribute to the library's growth and development. Furthermore, the foundation provides financial assistance to the library when needed, contributing to its overall well-being and success.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars
The Hot Springs County Library Foundation has received a rating of "Needs Improvement" from Charity Navigator, with a score of 73%. This rating reflects various strengths in its governance and financial practices, including an independent board with 10 out of 10 points for majority membership and size. Additionally, the foundation has demonstrated strong accountability, as indicated by a 100% program expense ratio and a favorable liabilities to assets ratio of 13.64%.
Despite these positive aspects, the organization has not fully met the higher standards set by Charity Navigator, which is reflected in its two-star rating. Areas where the foundation may need to improve include transparency in financial reporting and potentially addressing any operational inefficiencies. The score suggests that while the foundation is managing its resources responsibly, there is room for growth in its overall effectiveness and impact in the community.
Overall, while the Hot Springs County Library Foundation displays commendable financial health and governance practices, potential donors and stakeholders should consider the areas identified for improvement. Continued efforts to enhance transparency and operational effectiveness could help elevate its standing and effectiveness in serving the community's needs.
This AI summary has been generated from information found on Charity Navigator.
Is Hot Springs County Library Foundation legitimate?
Hot Springs County Library Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hot Springs County 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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What is the mission statement of Hot Springs County Library Foundation?
The Hot Springs County Library Foundation's mission is focused on encouraging and managing donations for the betterment of the local library. This includes soliciting gifts, endowments, and memorials for library buildings, programs, and specific items. The foundation also manages these funds and provides financial assistance to the library when necessary. Their primary aim is to support the library and enhance its resources and capabilities for the benefit of the community.
Who is the CEO of Hot Springs County Library Foundation?
Jim Larson is the Board Member of Hot Springs County Library Foundation.
What is the revenue of Hot Springs County Library Foundation?
Hot Springs County Library Foundation's revenue in 2023 was $28,072.
Who are the executives of Hot Springs County Library Foundation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Hot Springs County Library Foundation?
Hot Springs County Library Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Hot Springs County Library Foundation
The Hot Springs County Library Foundation is a dedicated organization that aims to encourage and facilitate gifts, endowments, and memorials for the benefit of the Library. Their mission involves administering these funds, which are provided through donations or the sale of donated items. Beyond this, they also extend financial assistance to the Library itself, contributing to the construction of library buildings, the implementation of programs, and the acquisition of specific items. This support enables the Library to enhance its services and resources, ultimately benefiting the community it serves.
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Impact
August, 2024
Hot Springs County Library Foundation has a significant impact on the Thermopolis community by encouraging gifts, endowments, and memorials for library buildings, programs, and specific items. Through the administration of funds received from these sources, the foundation provides vital financial assistance to the library, ensuring its continued growth and ability to serve the community effectively. This support directly contributes to the enhancement of educational opportunities and resources available to residents in Hot Springs County.
This information is meant to be a general summary of Hot Springs County 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 2023.
- Investment Income: $28,072
- Gross Receipts: $28,072
Assets and Liabilities:
- Total Assets: $1,502,194
- Total Liabilities: $205,046
- Net Assets: $1,297,148
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Organization Details
Founding Year
1978
Phone
(307) 864-3104Principal Officer
Jim Larson
Main Address
344 ARAPAHOE, THERMOPOLIS, WY, 82443
NTEE Category
Code: B70 - Education
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