Lexington Public Library FY2024 filing

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Our mission is to enrich and connect our community through welcoming spaces, engaged staff, diverse resources, and lifelong learning opportunities. We create a stronger community by meeting our customers where and how they need US and connecting them with the right resources, in our buildings and beyond. We build a collection that supports our function as a trusted source for information. The collection reflects the diversity of the Lexington community and meets its educational and recreational interests. Learning never ends at the Library. Our programming, exhibits, and initiatives forge new ways for our community and customers to learn and develop new skills. We are a safe and free third space for our community a warm and welcoming place where people can learn, play, gather together, or simply be.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
$400K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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 $4.2M a year · 19% 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
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$400K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
9 mo
of spending, in cash
Looks good: 8.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $561K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$35.1M
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
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
$24.7M
+7% vs prior year
Spent
$19.4M
To programs
93%
Net assets
$33.7M
By yearFY2020–FY2025
Revenue
$24.7M
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$18.6M
FY2021$19.1M
FY2022$18.8M
FY2023$23.2M
FY2024$24.7M
FY2025$24.9M
Expenses
$19.4M
FY2024▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$17.4M
FY2021$15.3M
FY2022$15.0M
FY2023$17.5M
FY2024$19.4M
FY2025$19.7M
Net assets
$33.7M
FY2024▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.6M
FY2021$18.4M
FY2022$22.2M
FY2023$27.9M
FY2024$33.7M
FY2025$38.5M

From the FY2024 Form 990 (year ending June 2024) · 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 Jan 1975.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $18.0M Management & general 7% · $1.4M

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

11 people listed on the 990; $400K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$144,028Pt VII · Sec A
Finance Officer (thru 10/23)
$112,204Pt VII · Sec A
Deputy Director
$104,574Pt VII · Sec A
Finance Officer (from 08/23)
$39,426Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Heather Dieffenbach’s $150K as Executive Director is at the 16th percentile of top reported officer pay among 3683 $10–100M 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Heather Dieffenbach$150,467$144,028$142,036$126,652$123,272$93,836
Robert Serrate$125,445$39,426————
Karen E King—$112,204$107,449$96,216$92,678$84,875
Tonya Head$110,995$104,574————

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.

See Lexington Public Library 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 15aYes

Programs and updates

Enriching and connecting the community through welcoming spaces and lifelong learning.

Questions for Lexington Public Library

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3 programs · $18.0M · in their own filed words · FY2023
01

We build a collection that supports our function as a trusted source for information. The collection reflects the diversity of the lexington community and meets its educational and recreational interests.

$18.0Mprogram expense
02

Learning never ends at the library. Our programming, exhibits, and initiatives forge new ways for our community and customers to learn and develop new skills.

Pt IX · col B
03

We are a safe and free third space for our community - a warm and welcoming place where people can learn, play, gather together, or simply be.

Pt IX · col B

Funders

Who pays for it.

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 2 funders$561K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2023 · $1.0M federal money spent
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Lexington-Fayette Urban County, Government$1.0M

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$24.7M
Ln 12
Gifts and grantsLn 1h$23.0M
Investment incomeLn 3$1.2M
Fees for servicesLn 2g$418K
Money outPt IX
$19.4M
Ln 25
Programscol B$18.0M
Managementcol C$1.4M
Owns and owesPt X
$33.7M
net assets · Ln 32
Cash and savingsLn 1–2$13.8M
Total assetsLn 16$68.8M
LiabilitiesLn 26$35.1M
PeoplePt VI, VII
11
listed · VII A
PaidVII A4
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$23.0M
Government grantsLn 1e$22.5M
Fees for servicesLn 2g$418K
Investment incomeLn 3$1.2M
Other incomeLn 4–11$109K
Gains on assetsLn 7$658K
Total revenueLn 12$24.7M
Assets in detailPt X, end of year
CashLn 1$6.4M
SavingsLn 2$7.5M
Cash and savings togetherLn 1–2$13.8M
Accounts receivableLn 4$66K
Prepaid expenses and deferred chargesLn 9$94K
Land, buildings, equipmentLn 10c$40.7M
InvestmentsLn 11–13$6.5M
Other assetsLn 15$7.6M
Total assetsLn 16$68.8M
LiabilitiesLn 26$35.1M
Net assetsLn 32$33.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6125
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$260K
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$1.3M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$26.1M$13.8M
InvestmentsLn 11–13$0$6.5M
Land, buildings, equipmentLn 10c$34.3M$40.7M
Total assetsLn 16$66.3M$68.8M
LiabilitiesLn 26$38.5M$35.1M
Net assetsLn 32$27.9M$33.7M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$394K$355K$39K
Other salaries and wagesLn 7$7.6M$6.8M$757K
Pension plan contributionsLn 8$428K$395K$33K
Other employee benefitsLn 9$1.2M$1.2M$60K
Payroll taxesLn 10$578K$494K$84K
Legal feesLn 11b$46K$46K
Accounting feesLn 11c$72K$72K
Other fees for servicesLn 11g$205K$141K$64K
Advertising and promotionLn 12$99K$99K
Office expensesLn 13$679K$679K
Information technologyLn 14$607K$607K
OccupancyLn 16$914K$914K
TravelLn 17$155K$106K$49K
Conferences, conventions and meetingsLn 19$107K$107K
InterestLn 20$580K$580K
Depreciation, depletion and amortizationLn 22$1.9M$1.9M
InsuranceLn 23$149K$149K
Other expenses (24a–d)Ln 24$3.6M$3.6M
All other expensesLn 24e$73K$73K
Total functional expensesLn 25$19.4M$18.0M$1.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 29, 2026 $24.9M$19.7M$5.2M$38.5M 990 PDF
FY2024 ViewingFiled with the IRS May 15, 2025 $24.7M$19.4M$5.3M$33.7M 990 PDF
FY2023Filed with the IRS May 14, 2024 $23.2M$17.5M$5.7M$27.9M 990 PDF
FY2022Filed with the IRS May 12, 2023 $18.8M$15.0M$3.8M$22.2M 990 PDF
FY2021Filed with the IRS May 16, 2022 $19.1M$15.3M$3.7M$18.4M 990 PDF
FY2020Filed with the IRS May 12, 2021 $18.6M$17.4M$1.2M$14.6M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $24,720,353 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $22,046,309$23,026,340
I-9 Program service revenuePrior year $413,288$417,957
I-10 Investment incomePrior year $638,288$1,166,649
I-11 Other revenuePrior year $82,478$109,407
I-12 Total revenuePrior year $23,180,363$24,720,353
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $9,578,296$10,199,774
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,928,735$9,179,719
I-18 Total expensesPrior year $17,507,031$19,379,493
I-19 Revenue less expensesPrior year $5,673,332$5,340,860
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $24,720,353 across 9 lines filed
VIII-1d Related organizations$550,241
VIII-1e Government grants$22,461,099
VIII-1f All other contributions, gifts and grants$15,000
VIII-1h Total contributions, gifts and grants$23,026,340
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $417,957$417,957
VIII-3 Investment incomeExcluded from tax $508,548$508,548
VIII-7 Net gain or loss on sales of assetsExcluded from tax $658,101$658,101
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $109,407$109,407
VIII-12 Total revenueRelated to mission $527,364 · Unrelated business $0 · Excluded from tax $1,166,649$24,720,353
Part IX · Statement of functional expenses $19,379,493 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $354,570 · Management $39,397$393,967
IX-7 Other salaries and wagesPrograms $6,812,595 · Management $756,954$7,569,549
IX-8 Pension plan contributionsPrograms $394,911 · Management $32,885$427,796
IX-9 Other employee benefitsPrograms $1,170,097 · Management $60,447$1,230,544
IX-10 Payroll taxesPrograms $493,889 · Management $84,029$577,918
IX-11b Legal feesManagement $46,320$46,320
IX-11c Accounting feesManagement $72,241$72,241
IX-11g Other fees for servicesPrograms $140,520 · Management $64,322$204,842
IX-12 Advertising and promotionPrograms $98,956$98,956
IX-13 Office expensesPrograms $678,782$678,782
IX-14 Information technologyPrograms $607,308$607,308
IX-16 OccupancyPrograms $914,250$914,250
IX-17 TravelPrograms $106,070 · Management $49,053$155,123
IX-19 Conferences, conventions and meetingsPrograms $107,472$107,472
IX-20 InterestPrograms $580,410$580,410
IX-22 Depreciation, depletion and amortizationPrograms $1,873,855$1,873,855
IX-23 InsuranceManagement $149,100$149,100
IX-24 Other expenses (24a–d)Programs $3,618,283$3,618,283
IX-24e All other expensesPrograms $72,777$72,777
IX-25 Total functional expensesPrograms $18,024,745 · Management $1,354,748 · Fundraising $0$19,379,493
Part X · Balance sheet $68,778,153 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $0$6,369,917
X-2 Savings and temporary cash investmentsStart of year $26,075,681$7,458,353
X-4 Accounts receivableStart of year $115,089$66,092
X-9 Prepaid expenses and deferred chargesStart of year $85,369$93,615
X-10c Land, buildings and equipment, netStart of year $34,276,419$40,676,967
X-11 Publicly traded securitiesStart of year $0$6,506,079
X-14 Intangible assetsStart of year $387,736$0
X-15 Other assetsStart of year $5,388,883$7,607,130
X-16 Total assetsStart of year $66,329,177$68,778,153
X-17 Accounts payable and accrued expensesStart of year $1,654,321$1,034,085
X-19 Deferred revenueStart of year $30$501
X-20 Tax-exempt bond liabilitiesStart of year $355,417$260,417
X-23 Secured mortgages and notes payableStart of year $14,217,873$11,362,469
X-25 Other liabilitiesStart of year $22,230,624$22,429,294
X-26 Total liabilitiesStart of year $38,458,265$35,086,766
X-27 Net assets without donor restrictionsStart of year $2,003,601$4,653,283
X-28 Net assets with donor restrictionsStart of year $25,867,311$29,038,104
X-32 Total net assets or fund balancesStart of year $27,870,912$33,691,387
X-33 Total liabilities and net assetsStart of year $66,329,177$68,778,153
Part XI · Reconciliation of net assets $33,691,387 net assets at year end
XI-1 Total revenue$24,720,353
XI-2 Total expenses$19,379,493
XI-3 Revenue less expenses$5,340,860
XI-4 Net assets at start of year$27,870,912
XI-8 Prior period adjustments$479,615
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$33,691,387

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

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