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CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

Charlotte, NC   |  https://foundation.cmlibrary.org/
GuideStar Charity Check

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

EIN: 46-1172548


Mission

The Charlotte Mecklenburg Library Foundation exists to help the Charlotte Mecklenburg Library improve lives and build a stronger community.

The Library Foundation's sole purpose is to support the Charlotte Mecklenburg Library and it's service to the approximately one million residents of Mecklenburg County, North Carolina.

Current focus areas include early literacy initiatives, digital inclusion, economic opportunity and access for all.

The Library has also established and continues to build endowed funds to support Library service for future generations.

Ruling year info

2013

Executive Director

Ms. Jennifer Gaisbauer

Deputy Director

Ms. Karen Beach

Main address

300 East Seventh St

Charlotte, NC 28202 USA

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EIN

46-1172548

Subject area info

Arts and culture

Libraries

Population served info

Adults

NTEE code info

Libraries, Library Science (B70)

Single Organization Support (A11)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Affiliations

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Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

General Library Services Funding

Supports day-to-day operations of 20 branch libraries and Foundation operations.

Population(s) Served
Adults

Support specific literacy and lifelong learning program needs and augment collection of digital and print resources.

Population(s) Served
Adults

Foundation funding supports prototyping, research and implementation of program and facility enhancements such as incorporation of RFID into materials management, new staffing and service models, and development of a forward-thinking vision for a new Main Library.

Population(s) Served
Adults

Where we work

Financials

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION
Fiscal year: Jul 01 - Jun 30

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023 info

SOURCE: IRS Form 990

2.01

Average of 37.84 over 10 years

Months of cash in 2023 info

SOURCE: IRS Form 990

1.7

Average of 4.1 over 10 years

Fringe rate in 2023 info

SOURCE: IRS Form 990

0%

Average of 0% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

Revenue & expenses

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

Balance sheet

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

This snapshot of CHARLOTTE MECKLENBURG LIBRARY FOUNDATION’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2019 2020 2021 2022 2023
Unrestricted surplus (deficit) before depreciation $0 $0 $0 $0 $0
As % of expenses 0.0% 0.0% 0.0% 0.0% 0.0%
Unrestricted surplus (deficit) after depreciation $0 $0 $0 $0 $0
As % of expenses 0.0% 0.0% 0.0% 0.0% 0.0%
Revenue composition info
Total revenue (unrestricted & restricted) $6,265,973 $19,011,019 $6,519,993 $14,482,826 $4,905,932
Total revenue, % change over prior year 291.5% 203.4% -65.7% 122.1% -66.1%
Program services revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.6% 0.0% 0.0% 0.0% 0.0%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 91.2% 100.0% 100.0% 100.0% 100.0%
Other revenue 8.2% 0.0% 0.0% 0.0% 0.0%
Expense composition info
Total expenses before depreciation $1,193,166 $820,803 $1,901,846 $1,571,476 $2,302,484
Total expenses, % change over prior year 1.1% -31.2% 131.7% -17.4% 46.5%
Personnel 0.0% 0.0% 0.0% 0.0% 0.0%
Professional fees 12.2% 23.6% 11.9% 18.0% 12.8%
Occupancy 0.0% 0.0% 0.0% 0.0% 0.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 87.8% 76.4% 88.1% 44.5% 79.9%
All other expenses 0.0% 0.0% 0.0% 37.5% 7.3%
Full cost components (estimated) info 2019 2020 2021 2022 2023
Total expenses (after depreciation) $1,193,166 $820,803 $1,901,846 $1,571,476 $2,302,484
One month of savings $99,431 $68,400 $158,487 $130,956 $191,874
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $1,292,597 $889,203 $2,060,333 $1,702,432 $2,494,358

Capital structure indicators

Liquidity info 2019 2020 2021 2022 2023
Months of cash 0.8 11.2 5.8 10.4 1.7
Months of cash and investments 111.5 236.9 141.7 215.9 189.5
Months of estimated liquid unrestricted net assets 0.0 0.0 0.0 0.0 0.0
Balance sheet composition info 2019 2020 2021 2022 2023
Cash $78,220 $764,609 $912,067 $1,362,317 $334,014
Investments $11,007,275 $15,438,766 $21,553,002 $26,911,109 $36,027,438
Receivables $1,733,930 $14,809,879 $15,569,375 $21,778,163 $16,671,009
Gross land, buildings, equipment (LBE) $0 $0 $0 $0 $0
Accumulated depreciation (as a % of LBE) 0.0% 0.0% 0.0% 0.0% 0.0%
Liabilities (as a % of assets) 0.0% 0.0% 0.4% 1.2% 0.3%
Unrestricted net assets $0 $0 $0 $0 $0
Temporarily restricted net assets $9,659,603 N/A N/A N/A N/A
Permanently restricted net assets $3,159,822 N/A N/A N/A N/A
Total restricted net assets $12,819,425 $31,013,254 $37,875,603 $49,462,052 $52,866,311
Total net assets $12,819,425 $31,013,254 $37,875,603 $49,462,052 $52,866,311

Key data checks

Key data checks info 2019 2020 2021 2022 2023
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

Executive Director

Ms. Jennifer Gaisbauer

Jenni has non-profit fundraising experience in strategic planning, major gifts, campaigns and planned giving, donor cultivation and stewardship, corporate and foundation relations, special events, board development, and community partnerships. In 2013, Jenni established the strategy and business plan for Charlotte Mecklenburg Library Foundation as its first Executive Director. That first year, her team exceeded their $1 million goal and created a signature fundraising event, Verse & Vino. Jenni previously served as Senior VP of Development at Levine Museum of the New South, securing over $15 million in contributed giving.   She earned Certified Fundraising Executive credentials in 2008 and graduated from the American Leadership Forum. She is on the board of Community Building Initiative, and has served on the Charlotte Lesbian and Gay Fund, AFP Charlotte Chapter Board and Girls on the Run International. Jenni was named 2015 Fundraising Executive of the Year by AFP, Charlotte.

Deputy Director

Karen Beach

Karen has built relationships and secured funding for the Charlotte Mecklenburg Library for over 20 years, raising more than $13.5 million in support from individuals, corporations and foundations. In 2015, she was awarded the Joey Rodgers Leadership Award for service to public libraries by the Urban Libraries Council. With the Library Foundation, Karen is focused on securing grant support, and on building a planned giving program that will help increase the Library Foundation's endowment assets. She led the creation of EpicFest, a literary festival for children that debuted in November 2015. Her experience also includes creating or strengthening volunteer services, educational partnerships, community outreach, and special events. Karen became a Certified Fund Raising Executive in 2000. She is a past president of the AFP-Charlotte board of directors, and a former instructor in Duke University's Nonprofit Management Certificate Program.

Number of employees

Source: IRS Form 990

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
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Compensation data
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There are no highest paid employees recorded for this organization.

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

Board of directors
as of 06/14/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Mr. Gene Cochrane

Helen Kimbrough

Jennifer Green

Sally Robinson

Lauren Woodruff

Le Roy Davis

Jennifer DeWitt

Barb Ellis

Meredith Heimburger

Cristina Wilson

Organizational demographics

SOURCE: Self-reported; last updated 1/4/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender
Sexual orientation
Gay, Lesbian, Bisexual, or other sexual orientations in the LGBTQIA+ community
Disability status
Person without a disability

The organization's co-leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

Transgender Identity

No data

Sexual orientation

No data

Disability

No data

Contractors

Fiscal year ending
There are no fundraisers recorded for this organization.