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← FRIENDS OF THE HENNEPIN COUNTY LIBRARY

Form 990 for tax year 2023

Filed by FRIENDS OF THE HENNEPIN COUNTY LIBRARY.

Totals

Total revenue
$4,105,719
Total expenses
$4,015,277
Contributions and grants received
$3,227,457
Grants paid
$2,300,000
Program service revenue
$492,227
Investment income
$386,035
Other revenue
$0
Total assets, end of year
$8,044,246
Total liabilities, end of year
$302,748
Net assets or fund balances, end of year
$7,741,498
Program services expenses (Part IX)
$3,135,445
Management and general expenses
$198,914
Fundraising expenses
$680,918
Program service expenses (Part III)
$3,135,445

Program services were 78.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $82,000

  • 1f · All other contributions, gifts and grants

    $3,145,457

  • 1g · Noncash contributions included above

    $187,000

  • 2a · Program service revenue: PROGRAM REVENUE

    total $492,227 · related or exempt $492,227

  • 3 · Investment income

    total $205,011 · excluded $205,011

  • 7a · Gross sales of assets other than inventory

    securities $309,133

  • 7b · Less cost or other basis and sales expenses

    securities $128,109

  • 7c · Gain or loss

    securities $181,024

  • 7d · Net gain or loss

    total $181,024 · excluded $181,024

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,300,000 · program services $2,300,000

  • 5 · Compensation of officers, directors and key employees

    total $179,019 · program services $116,362 · management and general $17,902 · fundraising $44,755

  • 7 · Other salaries and wages

    total $636,958 · program services $308,340 · management and general $58,920 · fundraising $269,698

  • 8 · Pension plan contributions

    total $19,801 · program services $9,937 · management and general $1,692 · fundraising $8,172

  • 9 · Other employee benefits

    total $63,293 · program services $34,611 · management and general $2,757 · fundraising $25,925

  • 10 · Payroll taxes

    total $56,636 · program services $29,457 · management and general $5,140 · fundraising $22,039

  • 11c · Fees: accounting

    total $14,257 · management and general $14,257

  • 11f · Fees: investment management

    total $68,225 · management and general $68,225

  • 11g · Fees: other

    total $107,583 · program services $70,162 · management and general $2,876 · fundraising $34,545

  • 12 · Advertising and promotion

    total $36,156 · program services $11,449 · management and general $1,369 · fundraising $23,338

  • 13 · Office expenses

    total $234,953 · program services $53,470 · management and general $3,572 · fundraising $177,911

  • 14 · Information technology

    total $48,047 · program services $17,455 · management and general $9,288 · fundraising $21,304

  • 17 · Travel

    total $4,045 · program services $1,811 · management and general $594 · fundraising $1,640

  • 19 · Conferences, conventions and meetings

    total $8,757 · program services $326 · management and general $2,267 · fundraising $6,164

  • 22 · Depreciation, depletion and amortization

    total $27,840 · program services $14,476 · management and general $2,506 · fundraising $10,858

  • 23 · Insurance

    total $3,403 · management and general $3,403

  • 24a · Other expenses: PROGRAM EVENTS

    total $151,572 · program services $151,572

  • 24b · Other expenses: PROCESSING FEES

    total $54,732 · program services $16,017 · management and general $4,146 · fundraising $34,569

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,431,493 · end of year $332,135

  • 2 · Savings and temporary cash investments

    beginning of year $76,371 · end of year $859,380

  • 3 · Pledges and grants receivable

    beginning of year $17,200 · end of year $52,760

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,175 · end of year $39,454

  • 10a · Land, buildings and equipment: cost or other basis

    $114,638

  • 10b · Land, buildings and equipment: accumulated depreciation

    $107,975

  • 10c · Land, buildings and equipment, net

    beginning of year $34,503 · end of year $6,663

  • 11 · Investments: publicly traded securities

    beginning of year $5,816,676 · end of year $6,753,854

  • 17 · Accounts payable and accrued expenses

    beginning of year $46,126 · end of year $87,050

  • 19 · Deferred revenue

    beginning of year $170,777 · end of year $215,698

  • 27 · Net assets without donor restrictions

    beginning of year $5,939,629 · end of year $6,255,090

  • 28 · Net assets with donor restrictions

    beginning of year $1,254,886 · end of year $1,486,408

Mission and programs · 2023

Mission

FRIENDS OF THE HENNEPIN COUNTY LIBRARY IS THE FUNDRAISING PARTNER OF HENNEPIN COUNTY LIBRARY AND BUILDS AWARENESS, APPRECIATION AND SUPPORT FOR OUR WORLD-CLASS LIBRARY.

Activities or mission (Part I)

BUILD AWARENESS, APPRECIATION AND SUPPORT FOR OUR WORLD CLASS LIBRARY.

  • LIBRARY SUPPORT: AS THE LIBRARY'S NONPROFIT FUNDRAISING PARTNER, FHCL BUILDS LIBRARY AWARENESS AND APPRECIATION THROUGH COMPELLING STORYTELLING AND RAISES SIGNIFICANT FINANCIAL RESOURCES FOR LIBRARY STRATEGIC PRIORITIES, INCLUDING WORKFORCE DEVELOPMENT, COMMUNITY OUTREACH, YOUTH DEVELOPMENT AND THE WORLD CLASS COLLECTION. TOGETHER, WE ENVISION A HENNEPIN COUNTY WHERE LIBRARY SERVICES ENSURE THAT EVERY PERSON HAS THE OPPORTUNITY AND RESOURCES TO READ, GRADUATE, ENGAGE, WORK AND LEARN.

    Expenses $2,391,587 · Grants $2,300,000

  • PEN PALS: PEN PALS IS THE HIGHLY ACCLAIMED, LONGEST RUNNING LITERARY SERIES IN THE TWIN CITIES FEATURING AWARD-WINNING, BEST-SELLING AUTHORS WHO SPEAK ON THEIR LIFE AND WORK AS WRITERS. THIS AUTHOR LECTURE SERIES GENERATES INCOME SUPPORTING THE ORGANIZATION'S MISSION. THIRTY VOLUNTEERS ASSISTED STAFF AT FOUR IN-PERSON EVENTS, CONTRIBUTING 244 HOURS TO THE PROGRAM. IN 2023, 4,100 PEOPLE ATTENDED IN-PERSON EVENTS, AND 3,413 HOUSEHOLDS ATTENDED VIRTUAL LIVESTREAM PROGRAMS OR ON-DEMAND RECORDINGS.

    Expenses $298,435 · Revenue $334,003

  • PUBLIC AWARENESS AND DONOR ENGAGEMENT: TALK OF THE STACKS IS A FREE AUTHOR LECTURE SERIES PRODUCED BY FRIENDS WITH GUEST AUTHORS WHO FOCUS ON CONTEMPORARY LITERATURE AND CULTURE ACROSS AN ARRAY OF SOCIAL, ECONOMIC AND GLOBAL TOPICS. THE 2023 SEASON INCLUDED FOUR IN-PERSON EVENTS, THAT ALSO OFFERED A VIRTUAL LIVESTREAM OPTION, AND ONE VIRTUAL-ONLY PROGRAM. IN TOTAL, 629 PEOPLE ATTENDED IN-PERSON EVENTS, 1,195 HOUSEHOLDS ATTENDED VIRTUAL PROGRAMS AND 1,683 ACCESSED ON-DEMAND RECORDINGS THROUGHOUT THE YEAR AT NO COST. IN ADDITION TO THESE PROGRAMS, THREE AUTHOR/BOOK CLUB PANEL EVENTS WERE PRODUCED WITH 185 PEOPLE ATTENDING IN-PERSON, 484 HOUSEHOLDS ATTENDING VIRTUALLY, AND ANOTHER 454 ATTENDEES VIEWING THE ON-DEMAND RECORDING THEREAFTER. (CONTINUED ON SCHEDULE O)FINALLY, TWO LIBRARY ART GALLERY RECEPTION EVENTS WERE ATTENDED BY 222 GUESTS. FURTHER PUBLIC AWARENESS PIECES ON BEHALF OF THE LIBRARY SYSTEM: 4,800 PRINTED EVENT GUIDES WERE DISTRIBUTED TO AUDIENCE MEMBERS AT THE FOUR IN-PERSON PEN PALS EVENTS AND FOUR IN-PERSON TALK OF THE STACKS EVENTS, AND 1,737 ATTENDEES ACCESSED VIRTUAL EVENT GUIDES. MORE THAN 26,305 PRINT NEWSLETTERS WERE DISTRIBUTED. 80+ EMAIL COMMUNICATIONS WERE SENT TO 26,139 E-NEWS SUBSCRIBERS. SOCIAL MEDIA FOLLOWERS (FACEBOOK, INSTAGRAM, TWITTER, LINKEDIN) GREW TO 12,679 SUBSCRIBERS, AND FHCL WEBSITE ACCESS GREW TO 128,996 VISITORS.

    Expenses $445,423 · Revenue $158,224

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kristi Pearson

    CEO

    Total calculated
    $179,018
    From this org
    $166,934
    From related orgs
    $0
    Other
    $12,084
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,060
    Bonus
    $7,874
    Other
    $0
    Deferred
    $5,149
    Nontaxable benefits
    $6,935
    Filer's total
    $179,018

  • Adam Breininger

    COO

    Total calculated
    $128,391
    From this org
    $113,187
    From related orgs
    $0
    Other
    $15,204
    Hours/week
    40

  • Rosa Marroquin

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mohammed Lawal

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Gaw

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Julia Dayton Klein

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Julie Allinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Gibbs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lissa Jones-Lofgren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charlie Knuth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nawal Noor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kyle Parsons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kai Sakstrup

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • HENNEPIN COUNTY LIBRARY

    $2,300,000

    OPERATING SUPPORT FOR PRIORITY PROGRAMS AND INITIATIVES.

Provenance

Return type
form_990
Tax year
2023
Filed
28 May 2024
IRS schema version
2023v5.0
Source object
202441519349301004

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