Overview
What is The Corvallis-Benton County Public Library Foundation Inc?
The Corvallis-Benton County Public Library Foundation Inc is a nonprofit organization located at 645 NW Monroe Ave, Corvallis, OR 97330. Their primary mission is to foster community investment in Benton County, aiming to provide the public library system with the necessary resources, services, and access that characterize a first-rate library. They achieve this by accepting private donations and using them to fund major projects and purchases, as per donor instructions, or as directed by the Foundation's board. In the past, they have transferred funds from previous fiscal years to purchase library materials.
Official website here: www.thebestlibraryfoundation.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Stars)
The Corvallis-Benton County Public Library Foundation Inc has received a Two-Star rating from Charity Navigator, indicating some strengths in its accountability and finance practices. The foundation has a solid score of 73% in this category, primarily reflecting its commitment to maintaining an independent board, with all members being independent. The organization showcases effective financial management through a high program expense ratio of 97.39%, which suggests that nearly all of its expenditures are directed towards its mission.
However, the foundation has notable gaps in its financial transparency, as it has not provided financial statements, which significantly impacts its overall score. Additionally, the absence of a whistleblower policy and document retention and destruction protocols raises concerns regarding governance practices. The foundation's lack of a posted tax form on its website further underscores the need for improved transparency and accessibility of its financial information.
Overall, while the foundation demonstrates strong governance with an independent board and effective use of resources, the shortcomings in its financial disclosures and policies indicate areas for improvement. Addressing these limitations could enhance its accountability and potentially lead to a higher rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is The Corvallis-Benton County Public Library Foundation Inc legitimate?
The Corvallis-Benton County Public Library Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Corvallis-Benton County Public Library Foundation Inc 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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For more financial information, click here
Official website here: www.thebestlibraryfoundation.org/
What is the mission statement of The Corvallis-Benton County Public Library Foundation Inc?
The mission of The Corvallis-Benton County Public Library Foundation Inc is centered around encouraging community investment through private giving. This initiative aims to provide the full range of resources, services, and access that a distinguished public library should offer to its patrons. The foundation primarily funds substantial projects and purchases books and other materials for the library system, adhering to donor designations and the directives of the Foundation Board.
Official website here: www.thebestlibraryfoundation.org/
Who is the CEO of The Corvallis-Benton County Public Library Foundation Inc?
David Low is the President of The Corvallis-Benton County Public Library Foundation Inc.
Official website here: www.thebestlibraryfoundation.org/
What is the revenue of The Corvallis-Benton County Public Library Foundation Inc?
The Corvallis-Benton County Public Library Foundation Inc's revenue in 2023 was $853,255.
Official website here: www.thebestlibraryfoundation.org/
Who are the executives of The Corvallis-Benton County Public Library Foundation Inc and what are their salaries?
There 13 volunteers at The Corvallis-Benton County Public Library Foundation Inc.
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Official website here: www.thebestlibraryfoundation.org/
Where can I find the form 990 for The Corvallis-Benton County Public Library Foundation Inc?
The Corvallis-Benton County Public Library Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thebestlibraryfoundation.org/
Learn more at the official website: www.thebestlibraryfoundation.org/
Mission Statement of The Corvallis-Benton County Public Library Foundation Inc
The Corvallis-Benton County Public Library Foundation Inc is committed to inspiring philanthropic contributions from the community. Their mission is to ensure that the people of Benton County have access to a comprehensive range of library resources and services, equivalent to those of an exceptional public library. The Foundation plays a crucial role in funding substantial projects and acquisitions, as well as procuring books and other materials for the library system. These acquisitions are often in accordance with donor preferences, or as directed by the Foundation Board. By doing so, The Corvallis-Benton County Public Library Foundation Inc contributes significantly to enriching the library system and enhancing the learning and recreational experiences of the community.
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Impact
July, 2024
The Corvallis-Benton County Public Library Foundation Inc has a significant impact on the community by encouraging private giving to ensure that the people of Benton County have access to the resources, services, and facilities befitting a great public library. Through its fundraising efforts and donor support, the Foundation has been able to fund large-dollar projects and purchase books and other materials for the library system. In a recent fiscal year, the Foundation transferred $30,315 in donor-designated funds to the Corvallis-Benton County Public Library, directly benefiting the library's collections and resources. By facilitating community investment and supporting the public library, the Foundation plays a vital role in enhancing educational opportunities and access to information for the residents of Benton County.
This information is meant to be a general summary of The Corvallis-Benton County Public Library Foundation Inc. 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: $656,721
- Gross Receipts: $1,985,213
Assets and Liabilities:
- Total Assets: $2,889,683
- Total Liabilities: $0
- Net Assets: $2,889,683
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Organization Details
Founding Year
1986
Phone
(541) 766-6928Principal Officer
David Low
Main Address
645 NW Monroe Ave, Corvallis, OR, 97330
NTEE Category
Code: B71I - Education
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