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Schlow Library Foundation INC FY2024 filing

Tax-deductible

State College, PA501(c)(3)Since 1979EIN 23-7269521

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To provide crucial advocacy, financial, and volunteer support for Schlow Library activities. The Foundation works to ensure that Schlow Library services will continue without interruption through fundraising projects and outreach programs.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $134K a year · 29% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $162K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$870
0.08% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$432K
+29% vs prior year
Spent
$428K
To programs
89%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$432K
FY2024▲ +29%
Revenue by fiscal year
FY2020$279K
FY2021$337K
FY2022$294K
FY2023$334K
FY2024$432K
FY2025$1.1M
Expenses
$428K
FY2024▲ +73%
Expenses by fiscal year
FY2020$232K
FY2021$245K
FY2022$243K
FY2023$247K
FY2024$428K
FY2025$534K
Net assets
$1.1M
FY2024▲ +4%
Net assets by fiscal year
FY2020$874K
FY2021$1.0M
FY2022$907K
FY2023$1.0M
FY2024$1.1M
FY2025$1.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1973.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $382K Management & general 9% · $37K Fundraising 2% · $10K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Lynn Petnick
Board Member
$0Pt VII · Sec A
Mac Rayback
Secretary
$0Pt VII · Sec A
Jane Stanton
Board Member
$0Pt VII · Sec A
Peg Hambrick
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom King
Board Member
$0Pt VII · Sec A
Robin Barton
Trustees Liason
$0Pt VII · Sec A
Cathy Hosling
Treasurer
$0Pt VII · Sec A
See Schlow Library Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports library activities with advocacy, funding, and volunteers to ensure uninterrupted services.

Provided by the organization

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1 program · $382K · in their own filed words · FY2024
01

To provide crucial advocacy, financial, and volunteer support for schlow library activities. The foundation works to ensure that schlow library services will continue without interruption through fundraising projects and outreach programs.

$382Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Centre County Community Foundation INCFY2024$154K
Fidelity Investments Charitable Gift FundFY2024$8K
Total grants receivedfrom 2 funders$162K
Grants paid · 6 grants · $1.5M · 2020–2025
Schlow Memorial LibraryPA · FY2025$333,518
Schlow Memorial LibraryPA · FY2024$381,892
Schlow Memorial LibraryPA · FY2023$198,971
Schlow Memorial LibraryPA · FY2022$199,379
Schlow Memorial LibraryPA · FY2021$205,626
Schlow Memorial LibraryPA · FY2020$191,665

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$432K
Ln 12
Gifts and grantsLn 1h$340K
Investment incomeLn 3$92K
Money outPt IX
$428K
Ln 25
Programscol B$382K
Managementcol C$37K
Fundraisingcol D$10K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$145K
Total assetsLn 16$1.1M
LiabilitiesLn 26$870
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$340K
Investment incomeLn 3$92K
Total revenueLn 12$432K
Assets in detailPt X, end of year
SavingsLn 2$145K
Cash and savings togetherLn 1–2$145K
InvestmentsLn 11–13$943K
Total assetsLn 16$1.1M
LiabilitiesLn 26$870
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$171K$145K
InvestmentsLn 11–13$879K$943K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$733$870
Net assetsLn 32$1.0M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$382K$382K
Accounting feesLn 11c$30K$30K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$3K$3K
Other expenses (24a–d)Ln 24$5K$2K$4K
Total functional expensesLn 25$428K$382K$37K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.1M$534K$526K$1.7M 990 PDF
FY2024 Viewing $432K$428K$4K$1.1M 990 PDF
FY2023 $334K$247K$87K$1.0M 990 PDF
FY2022 $294K$243K$50K$907K 990 PDF
FY2021 $337K$245K$91K$1.0M 990 PDF
FY2020 $279K$232K$47K$874K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $432,020 across 4 lines filed
VIII-1f All other contributions, gifts and grants$339,666
VIII-1h Total contributions, gifts and grants$339,666
VIII-3 Investment incomeExcluded from tax $92,354$92,354
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $92,354$432,020
Part IX · Statement of functional expenses $428,254 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $381,892$381,892
IX-11c Accounting feesManagement $30,077$30,077
IX-11g Other fees for servicesManagement $1,561$1,561
IX-12 Advertising and promotionFundraising $6,085$6,085
IX-13 Office expensesManagement $3,303$3,303
IX-24 Other expenses (24a–d)Management $1,685 · Fundraising $3,651$5,336
IX-25 Total functional expensesPrograms $381,892 · Management $36,626 · Fundraising $9,736$428,254
Part X · Balance sheet $1,088,543 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $171,106$145,083
X-11 Publicly traded securitiesStart of year $879,004$943,460
X-16 Total assetsStart of year $1,050,110$1,088,543
X-17 Accounts payable and accrued expensesStart of year $733$870
X-26 Total liabilitiesStart of year $733$870
X-27 Net assets without donor restrictionsStart of year $1,049,377$1,087,673
X-32 Total net assets or fund balancesStart of year $1,049,377$1,087,673
X-33 Total liabilities and net assetsStart of year $1,050,110$1,088,543
Part XI · Reconciliation of net assets $1,087,673 net assets at year end
XI-1 Total revenue$432,020
XI-2 Total expenses$428,254
XI-3 Revenue less expenses$3,766
XI-4 Net assets at start of year$1,049,377
XI-5 Net unrealized gains (losses) on investments$34,530
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,087,673

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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