Overview
What is Farmington Public Library Foundation?
The Farmington Public Library Foundation, situated in Farmington, New Mexico, serves as a dedicated nonprofit organization. Its primary objective is to offer ongoing financial support to the Farmington Public Library. By doing so, the foundation contributes to the library's continued success and growth, ensuring it can provide essential resources and services to the community. The foundation's mission is a testament to its commitment to fostering knowledge and literacy in Farmington, New Mexico.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (53%)
The Farmington Public Library Foundation has received a One-Star rating from Charity Navigator, which indicates significant concerns regarding its accountability and financial practices. With a score of 53%, the organization shows strengths in its program expense ratio, demonstrating that a substantial portion of its funds (72.38%) is directed toward its programs. However, the lack of independent board members and missing key governance policies raises red flags about its overall management and transparency.
Notably, the foundation has no independent board members, which can affect its ability to operate impartially. Additionally, several important policies, including those related to conflicts of interest and whistleblower protections, are absent, suggesting potential vulnerabilities in governance and oversight. The foundation's website is also lacking essential information, as it does not display its tax form, which is crucial for public accountability.
Despite these challenges, the foundation does maintain proper documentation of board meeting minutes and has no material diversion of assets, indicating that it is handling its resources responsibly in certain aspects. However, the overall low rating points to necessary improvements in governance and transparency to enhance trust and effectiveness within the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Farmington Public Library Foundation legitimate?
Farmington Public Library Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Farmington 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: $0
For more financial information, click here
What is the mission statement of Farmington Public Library Foundation?
The Farmington Public Library Foundation's mission is centered around providing a reliable financial aid to support the operations of a public library. By doing so, it aims to ensure the library maintains its services and resources, thereby benefiting the community it serves. The foundation's primary objective is to continually contribute financially to the library, thereby enhancing its capacity to serve its patrons effectively. This support may include funding for library programs, resources, and infrastructure, ultimately fostering an enriching learning environment for all.
Who is the CEO of Farmington Public Library Foundation?
Margaret Armstrong is the President of Farmington Public Library Foundation.
What is the revenue of Farmington Public Library Foundation?
Farmington Public Library Foundation's revenue in 2021 was $45,889.
Who are the executives of Farmington Public Library Foundation and what are their salaries?
There 15 volunteers at Farmington Public Library Foundation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Farmington Public Library Foundation?
Farmington Public Library Foundation's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Farmington Public Library Foundation
The Farmington Public Library Foundation is a dedicated nonprofit organization with a primary mission to ensure a steady financial backing for the Farmington Public Library. Their goal is to provide uninterrupted financial support, enabling the library to fulfill its role in serving the community effectively. By providing this financial assistance, the foundation aims to enhance the library's resources and services, ultimately contributing to a more enriching and educational experience for library users.
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Impact
August, 2024
Farmington Public Library Foundation's impact is significant in providing a continuous source of financial assistance to the Farmington Public Library. Through its support, the library is able to enhance its educational offerings and resources, benefiting the community by promoting literacy, learning, and access to information. The Foundation plays a crucial role in ensuring the sustainability and growth of the library's services, making a lasting impact on the educational landscape of Farmington, NM.
This information is meant to be a general summary of Farmington 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 2021.
- Investment Income: $7,018
- Program Service Revenue: $18,697
- Gross Receipts: $45,889
Assets and Liabilities:
- Total Assets: $846,174
- Total Liabilities: $0
- Net Assets: $846,174
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LIBRARY BOOK SALE
Revenue
$18,697
Organization Details
Founding Year
1990
Phone
(505) 327-1245Principal Officer
Margaret Armstrong
Main Address
PO BOX 1848, FARMINGTON, NM, 87499
NTEE Category
Code: B70 - Education
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