Overview
What is Fairbanks Library Foundation?
The Fairbanks Library Foundation is a nonprofit organization primarily dedicated to supporting the Fairbanks North Star Borough Public Libraries. Their mission encompasses enhancing library operations, promoting expansion of library buildings, facilities, and equipment, and establishing an investment fund for these initiatives. The foundation manages an art collection, which was donated to them, by covering acquisition fees, storage, and insurance costs. Pieces from this collection are showcased at the Noel Wien Library, while others have been selected for the North Pole Library. The Fairbanks Library Foundation aims to contribute positively to the local community by enriching library services and facilities.
Official website here: www.thelibraryfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54%, One-Star out of Four Star rating
The Fairbanks Library Foundation has received a low rating of 54% from Charity Navigator, signifying concerns regarding its accountability and financial management. The score primarily reflects deficiencies in compliance with governance policies, specifically the absence of a conflict of interest policy, whistleblower policy, and a document retention and destruction policy. Despite these issues, the organization maintains strong governance with a fully independent board of directors and no record of asset diversion.
Strengths highlighted include a perfect score for the majority of independent board members and their board size. Additionally, the foundation has demonstrated solid financial practices with a good liabilities-to-assets ratio. However, the program expense ratio of approximately 52.49% indicates that more than half of its expenses are not directed towards programs, raising questions about operational efficiency.
While the foundation has a transparent listing of documents and meets several accountability benchmarks, the missing governance policies significantly hinder its overall rating. Stakeholders and potential donors may want to consider these factors carefully before engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Fairbanks Library Foundation legitimate?
Fairbanks Library Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairbanks 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.
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Official website here: www.thelibraryfoundation.org
What is the mission statement of Fairbanks Library Foundation?
The Fairbanks Library Foundation's mission is centered around supporting the operations of all public libraries within the Fairbanks North Star Borough. Their purpose extends to encouraging and aiding in the expansion of library buildings, facilities, and equipment. Additionally, they manage an investment fund for these endeavors, which includes the collection, payment for acquisitions, storage, and insurance of an art collection donated to the foundation. Selected pieces from this collection are displayed at the Noel Wien Library, while others are showcased at the North Pole Library.
Official website here: www.thelibraryfoundation.org
Who is the CEO of Fairbanks Library Foundation?
Michelle Daml is the President of Fairbanks Library Foundation.
Official website here: www.thelibraryfoundation.org
What is the revenue of Fairbanks Library Foundation?
Fairbanks Library Foundation's revenue in 2022 was $119,498.
Official website here: www.thelibraryfoundation.org
Who are the executives of Fairbanks Library Foundation and what are their salaries?
There 10 volunteers at Fairbanks Library Foundation.
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Official website here: www.thelibraryfoundation.org
Where can I find the form 990 for Fairbanks Library Foundation?
Fairbanks Library Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thelibraryfoundation.org
Learn more at the official website: www.thelibraryfoundation.org
Mission Statement of Fairbanks Library Foundation
The Fairbanks Library Foundation is committed to supporting the operations of all public libraries within the Fairbanks North Star Borough. Their primary purpose is to enhance these libraries' functionalities, promote the expansion of library buildings, facilities, and equipment, and establish an investment fund for these endeavors. To accomplish this mission, the Foundation manages its art collection, which includes fees for acquiring, storing, and insuring the art pieces donated to the Foundation. These art pieces are showcased in borough library facilities, with some pieces on display at the Noel Wien Library and others selected for the North Pole Library.
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Impact
October, 2024
The Fairbanks Library Foundation significantly enhances the operations and culture of the Fairbanks North Star Borough public libraries. With a dedicated focus on supporting library facilities, the Foundation manages an art collection that enriches the community's engagement with the libraries. Through comprehensive efforts, including acquiring, storing, and insuring art pieces, the Foundation ensures that local libraries not only house books but also serve as vibrant cultural hubs.
Exhibits from this collection are showcased at various locations, such as the Noel Wien Library and the North Pole Library, providing patrons with a unique aesthetic experience that complements their reading and learning. Additionally, the Foundation actively encourages the expansion of library buildings and facilities, fostering an environment that adapts to the growing needs of the community. By creating and managing an investment fund, the Foundation secures resources for ongoing improvements and enhancements, ensuring that the libraries continue to thrive and serve as essential educational and cultural resources for Fairbanks.
This information is meant to be a general summary of Fairbanks 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: $46,515
- Gross Receipts: $121,157
Assets and Liabilities:
- Total Assets: $2,234,113
- Total Liabilities: $3,500
- Net Assets: $2,230,613
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Organization Details
Founding Year
1979
Phone
(907) 687-3296Principal Officer
Michelle Daml
Main Address
PO BOX 72363, FAIRBANKS, AK, 99707
Website
www.thelibraryfoundation.orgNTEE Category
Code: B70 - Education
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