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The Library Foundation INC FY2023 filing

Tax-deductible

Bradenton, FL501(c)(3) EIN 59-2590387Revenue $95K in FY2023Latest return filed Jan 26, 2026

On file with the IRS1301 Barcarrota Blvd, 34205-7522 · Bradenton, FLTax-exempt since Oct 1988Supporting organization — 509(a)(3)

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The Library Foundation, INC.'s mission is to ensure that the manatee county Library system obtains supplemental funds and support to achieve its potential as an indispensable community resource.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
4 of 6
filings with a surplus
Average surplus $207K a year · 50% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Plus $2.9M in investments, Pt X · Ln 11–13
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $160K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$95K
-70% vs prior year
Spent
$304K
To programs
90%
Net assets
$2.9M
By yearFY2020–FY2025
Revenue
$95K
FY2023▼ -70%
Tap a bar for its year
Revenue by fiscal year
FY2020$114K
FY2021$401K
FY2022$318K
FY2023$95K
FY2024$1.2M
FY2025$368K
Expenses
$304K
FY2023▲ +178%
Tap a bar for its year
Expenses by fiscal year
FY2020$135K
FY2021$74K
FY2022$109K
FY2023$304K
FY2024$316K
FY2025$290K
Net assets
$2.9M
FY2023▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.6M
FY2021$3.5M
FY2022$3.2M
FY2023$2.9M
FY2024$4.1M
FY2025$4.4M

From the FY2023 Form 990 (year ending May 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 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 Oct 1988.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $274K Management & general 10% · $30K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Anne Carter
Secretary
$0Pt VII · Sec A
Jennifer Cook
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Greg Porges
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Dana Clark
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Peg Kmak
Director
$0Pt VII · Sec A
See The 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

Provides extra funds and support to help the library system be a vital community resource.

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Provided by the organization

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1 program · $274K · in their own filed words · FY2022
01

Annual distribution from our unrestricted funds held by the manatee community foundation. We budget 3.5% from the restricted funds. The county representative drafts requests for the funding which are materials for the libraries that would not be available through traditional funding.

$274Kprogram 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
Manatee Community Foundation INCFY2024$160K
Total grants receivedfrom 1 funder$160K
Grants paid · 3 grants · $346K · 2020–2023
Manatee County Librrary AssociationFY2023$217,020
Manatee County Librrary AssociationFY2021$78,033
Manatee County Librrary AssociationFY2020$50,777

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$95K
Ln 12
Investment incomeLn 3$79K
Gifts and grantsLn 1h$17K
Money outPt IX
$304K
Ln 25
Programscol B$274K
Managementcol C$30K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$36K
Total assetsLn 16$2.9M
LiabilitiesLn 26$6K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$17K
Investment incomeLn 3$79K
Gains on assetsLn 7$6K
Total revenueLn 12$95K
Assets in detailPt X, end of year
CashLn 1$36K
Cash and savings togetherLn 1–2$36K
InvestmentsLn 11–13$2.9M
Total assetsLn 16$2.9M
LiabilitiesLn 26$6K
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$163K$3.2M$3.2M$2.5M$2.4M
Given inLn 1b$1K$200K$114K
SpentLn 1d–1f$8K$22K$67K$89K$112K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$63K$36K
InvestmentsLn 11–13$3.2M$2.9M
Total assetsLn 16$3.2M$2.9M
LiabilitiesLn 26$2K$6K
Net assetsLn 32$3.2M$2.9M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$257K$257K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$17K$17K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$2K$2K
Other expenses (24a–d)Ln 24$17K$17K$144
Total functional expensesLn 25$304K$274K$30K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jan 26, 2026 $368K$290K$78K$4.4M 990 PDF
FY2024Filed with the IRS Jan 29, 2025 $1.2M$316K$857K$4.1M 990 PDF
FY2023 ViewingFiled with the IRS Jan 22, 2024 $95K$304K−$209K$2.9M 990 PDF
FY2022Filed with the IRS Apr 18, 2023 $318K$109K$209K$3.2M 990 PDF
FY2021Filed with the IRS Apr 14, 2022 $401K$74K$327K$3.5M 990 PDF
FY2020Filed with the IRS Feb 4, 2021 $114K$135K−$21K$2.6M 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 FY2023 990 (6 parts)
Part I · Summary $95,175 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,438$16,527
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $311,522$78,648
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $317,960$95,175
I-13 Grants and similar amounts paidPrior year $78,033$257,449
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 $31,253$46,310
I-18 Total expensesPrior year $109,286$303,759
I-19 Revenue less expensesPrior year $208,674−$208,584
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $95,175 across 5 lines filed
VIII-1f All other contributions, gifts and grants$16,527
VIII-1h Total contributions, gifts and grants$16,527
VIII-3 Investment incomeExcluded from tax $72,671$72,671
VIII-7 Net gain or loss on sales of assetsRelated to mission $5,977$5,977
VIII-12 Total revenueRelated to mission $5,977 · Unrelated business $0 · Excluded from tax $72,671$95,175
Part IX · Statement of functional expenses $303,759 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $257,449$257,449
IX-11c Accounting feesManagement $5,450$5,450
IX-11f Investment management feesManagement $17,085$17,085
IX-12 Advertising and promotionManagement $4,776$4,776
IX-13 Office expensesManagement $2,303$2,303
IX-24 Other expenses (24a–d)Programs $16,552 · Management $144$16,696
IX-25 Total functional expensesPrograms $274,001 · Management $29,758 · Fundraising $0$303,759
Part X · Balance sheet $2,927,251 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $62,822$36,436
X-11 Publicly traded securitiesStart of year $3,186,078$2,890,815
X-16 Total assetsStart of year $3,248,900$2,927,251
X-17 Accounts payable and accrued expensesStart of year $2,372$6,388
X-26 Total liabilitiesStart of year $2,372$6,388
X-27 Net assets without donor restrictionsStart of year $3,072,373$2,755,793
X-28 Net assets with donor restrictionsStart of year $174,155$165,070
X-32 Total net assets or fund balancesStart of year $3,246,528$2,920,863
X-33 Total liabilities and net assetsStart of year $3,248,900$2,927,251
Part XI · Reconciliation of net assets $2,920,863 net assets at year end
XI-1 Total revenue$95,175
XI-2 Total expenses$303,759
XI-3 Revenue less expenses−$208,584
XI-4 Net assets at start of year$3,246,528
XI-5 Net unrealized gains (losses) on investments−$121,444
XI-7 Investment expenses$4,363
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,920,863

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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