The Community Library INC

Kilmarnock, VA · Public charity (501(c)(3)) · Since 1961 · Education

✓ Tax-deductible Latest data FY2024
Revenue
$979K
▲ +8% vs prior year
Spent
$979K
To programs
85%
Net assets
$9.8M
By yearFY2020–FY2024
Revenue
$979K
FY2024▲ +8%
Revenue by fiscal year
FY2020$825K
FY2021$1.2M
FY2022$865K
FY2023$850K
FY2024$909K
FY2024$979K
Expenses
$979K
FY2024▲ +10%
Expenses by fiscal year
FY2020$866K
FY2021$723K
FY2022$804K
FY2023$914K
FY2024$891K
FY2024$979K
Net assets
$9.8M
FY2024▲ +3%
Net assets by fiscal year
FY2020$8.4M
FY2021$9.6M
FY2022$8.8M
FY2023$9.0M
FY2024$9.5M
FY2024$9.8M

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — The Community Foundation INC
$19K in the latest grant year.
Spent on programs?
85% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
↑ +8% vs prior year
Legal name (IRS)Hdr · item CThe Community Library INC
EINHdr · item D54-0735541
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFMar 1962
Year of formationHdr · item L1961
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CKilmarnock, VA
NTEE classificationIRS BMFEducation (B700)
WebsiteHdr · item Jwww.lancasterlibrary.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.14 Fundraising $0.01
Program services85%$828K
Management & general14%$136K
Fundraising1%$14K
Total functional expensesLn 25$979K

Financial health

Program efficiency
85%
of spending reaches programs-0.1% vs prior filing year
Operating runway
89.1mo
months of highly liquid reserves at operating expense rate▼ -3% vs prior filing year
Surplus margin
+0.09%
revenue over expenses, this year▼ -96% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$9.9M
FY2024▲ +3%
Total assets by fiscal year
FY2020$8.6M
FY2021$9.8M
FY2022$8.8M
FY2023$9.1M
FY2024$9.6M
FY2024$9.9M
Total liabilities
$59K
FY2024▲ +6%
Total liabilities by fiscal year
FY2020$132K
FY2021$125K
FY2022$30K
FY2023$70K
FY2024$56K
FY2024$59K
Revenue less expensesPt I · Ln 19$848
Total assetsPt X · Ln 16$9.9M
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412

Balance Sheet

Part X · end of year
CashLn 1$338K
Total assetsLn 16$9.9M
Total liabilitiesLn 26$59K
Total net assetsLn 32$9.8M
Months of cash on handcomputed4.1

Statement of Revenue

Part VIII
Investment income$453K · 46%
Contributions & grants$423K · 43%
Program service revenue$69K · 7%
Other revenue$35K · 4%
Investment income46%$453K
Contributions & grants43%$423K
Program service revenue7%$69K
Other revenue4%$35K
— government grantsLn 1e$290K
Total revenueLn 12$979K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $7.3M · Operating expenses/yr $979K
89.1 months
Where the money goes
Program services
Program services $828K · Total expenses $979K
85%
Management & General
Management & general $136K · Total expenses $979K
14%
Fundraising
Fundraising $14K · Total expenses $979K
1%
Cost to raise $1
Fundraising expense (3-yr avg) $13K · Solicited contributions (3-yr avg) $187K
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $423K · Total revenue $979K
43%
Government reliance
Government grants $290K · Total revenue $979K
30%
Earned-income share
Program service revenue $69K · Total revenue $979K
7%
Investment reliance
Investment income $453K · Total revenue $979K
+46%
Program self-sufficiency
Program service revenue $69K · Total expenses $979K
7%
Growth & trend
Revenue growth (YoY)
This year $979K · Prior year $909K
+8%
Revenue CAGR
FY2019 $825K · FY2024 $979K
+3%
Net-asset trend (YoY)
End of year $9.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $979K · Expenses $979K
+0.09%
Liabilities-to-Assets
Total liabilities — · Total assets $9.9M
—
Net-asset ratio
Net assets $9.8M · Total assets $9.9M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $6.9M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $9.9M
70%
People & payroll
Highest Reported Total Compensation
Individual Alice Cooper · Reported title LIBRARY DIRE · Highest reported compensation $93K · Total expenses $979K
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $468K · Total expenses $979K
48%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%——
Overhead ratio 14%——
Fundraising cost ratio 3%——
Revenue growth 8%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Library Dire
$92,539Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Interim Secr
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Alice Cooper’s $93K as Library Dire is at the 80th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Alice Cooper$92,539$86,954$85,124$81,255$80,828$79,667

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Promotes literacy and lifelong learning through books, programs, and services for all ages.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $828K of program spending, described in the organization's own filed words · FY2024.
01

The lancaster community library is a center for the cultural, intellectual, and recreational pursuits of the community. Through its materials, programs, and services, the library promotes literacy, provides lifetime learning opportunities, and places special emphasis on stimulating children's interest in reading and learning.

$820Kprogram expense
02

The storymobile promotes literacy and reading by visiting daycares where staff offer programming that includes books and supporting activities.

$8Kprogram expense
03

The library promotes learning, growth, and development of area youth as part of its mission to be a center for cultural, intellectual, and recreational pursuits. The library gives a scholarship each year to a qualified recipient. The library has extensive programs and services for children, as well as teens.

$50program expense

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Funders

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$19K

Filing history

YearRevenueExpensesChangeFiling
FY2024 $909K$891K+7% 990 PDF
FY2023 $850K$914K-2% 990 PDF
FY2022 $865K$804K-25% 990 PDF
FY2021 $1.2M$723K+40% 990 PDF
FY2020 $825K$866K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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