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River Falls Library Foundation INC FY2020 filing

Tax-deductible

River Falls, WI501(c)(3) EIN 39-1651737Revenue $30K in FY2020

On file with the IRSriverfallspubliclibrary.org/library-foundatioPo Box 592, 54022-0592 · River Falls, WITax-exempt since May 1990Publicly supported charity — 170(b)(1)(A)(vi)

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To support the River Falls Library in its efforts to enrich lives and build community by connecting people with information, ideas, spaces, and opportunities while responsibly managing funds contributed to the Foundation.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $7K a year · 20% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
44 mo
of spending, in cash
Plus $849K in investments, Pt X · Ln 11–13
Looks good: 44.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $6K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$30K
Spent
$32K
To programs
70%
Net assets
$966K
By yearFY2020–FY2024
Revenue
$30K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$30K
FY2021$13K
FY2022$28K
FY2023$46K
FY2024$48K
Expenses
$32K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$32K
FY2021$19K
FY2022$39K
FY2023$27K
FY2024$82K
Net assets
$966K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$966K
FY2021$1.1M
FY2022$880K
FY2023$1.0M
FY2024$1.1M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1990.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $22K Management & general 30% · $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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Max Neuhaus
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Tony Pedriana
Secretary
$0Pt VII · Sec A
Rita Kozak
Treasurer
$0Pt VII · Sec A
Betsy Weterhaus
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See River Falls 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

Enriching lives and building community through library resources and opportunities.

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Provided by the organization

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1 program · $22K · in their own filed words · FY2020
01

The foundation works with the library staff to provide program and technology support by approving requests. The library director and staff prioritize and bring requests to the foundation for approval and payment. Invoices for books, materials, speakers and other programming are paid throughout the year as needed.

$22Kprogram 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 · FY2023
Charities Aid Foundation AmericaFY2023$6K
Amazonsmile FoundationFY2023$34
Total grants receivedfrom 2 funders$6K
Grants paid · 2 grants · $31K · 2020–2021
City of River FallsFY2021$12,477
City of River FallsFY2020$18,295

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$30K
Ln 12
Investment incomeLn 3$18K
Gifts and grantsLn 1h$8K
Fees for servicesLn 2g$5K
Money outPt IX
$32K
Ln 25
Programscol B$22K
Managementcol C$10K
Owns and owesPt X
$966K
net assets · Ln 32
Cash and savingsLn 1–2$118K
Total assetsLn 16$966K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8K
Fees for servicesLn 2g$5K
Investment incomeLn 3$18K
Gains on assetsLn 7$4K
Total revenueLn 12$30K
Assets in detailPt X, end of year
CashLn 1$10K
SavingsLn 2$108K
Cash and savings togetherLn 1–2$118K
InvestmentsLn 11–13$849K
Total assetsLn 16$966K
LiabilitiesLn 26$0
Net assetsLn 32$966K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$125K$118K
InvestmentsLn 11–13$755K$849K
Total assetsLn 16$880K$966K
LiabilitiesLn 26$0$0
Net assetsLn 32$880K$966K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$18K$18K
Other expenses (24a–d)Ln 24$14K$4K$10K
Total functional expensesLn 25$32K$22K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $48K$82K−$34K$1.1M 990 PDF
FY2023 $46K$27K$19K$1.0M 990 PDF
FY2022 $28K$39K−$11K$880K 990 PDF
FY2021 $13K$19K−$6K$1.1M 990 PDF
FY2020 Viewing $30K$32K−$2K$966K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $30,482 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,638$7,850
I-9 Program service revenuePrior year $0$4,950
I-10 Investment incomePrior year $10,815$17,682
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $12,453$30,482
I-13 Grants and similar amounts paidPrior year $8,871$18,295
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,840$13,709
I-18 Total expensesPrior year $11,711$32,004
I-19 Revenue less expensesPrior year $742−$1,522
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $30,482 across 7 lines filed
VIII-1b Membership dues$855
VIII-1f All other contributions, gifts and grants$6,995
VIII-1h Total contributions, gifts and grants$7,850
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,950$4,950
VIII-3 Investment incomeExcluded from tax $13,369$13,369
VIII-7 Net gain or loss on sales of assetsExcluded from tax $4,313$4,313
VIII-12 Total revenueRelated to mission $4,950 · Unrelated business $0 · Excluded from tax $17,682$30,482
Part IX · Statement of functional expenses $32,004 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $18,295$18,295
IX-24 Other expenses (24a–d)Programs $4,023 · Management $9,686$13,709
IX-25 Total functional expensesPrograms $22,318 · Management $9,686 · Fundraising $0$32,004
Part X · Balance sheet $966,120 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $3,634$9,714
X-2 Savings and temporary cash investmentsStart of year $121,532$107,880
X-11 Publicly traded securitiesStart of year $755,119$848,526
X-16 Total assetsStart of year $880,285$966,120
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $879,586$966,120
X-28 Net assets with donor restrictionsStart of year $699$0
X-32 Total net assets or fund balancesStart of year $880,285$966,120
X-33 Total liabilities and net assetsStart of year $880,285$966,120
Part XI · Reconciliation of net assets $966,120 net assets at year end
XI-1 Total revenue$30,482
XI-2 Total expenses$32,004
XI-3 Revenue less expenses−$1,522
XI-4 Net assets at start of year$880,285
XI-5 Net unrealized gains (losses) on investments$87,342
XI-8 Prior period adjustments$15
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$966,120

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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