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Cupertino Library Foundation FY2022 filing

Tax-deductible

Cupertino, CA501(c)(3) EIN 77-0372742Revenue $114K in FY2022

On file with the IRScupertinolibraryfoundation.org10800 Torre Ave, 95014-3234 · Cupertino, CATax-exempt since Jul 1994Publicly supported charity — 170(b)(1)(A)(vi)

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The organization's stated purpose is to raise money to help enhance life- long learning and self-improvement through the Cupertino Library.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
3 of 5
filings with a surplus
Average surplus $34K a year · 20% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Plus $1.9M in investments, Pt X · Ln 11–13
Looks good: 11.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $71K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$900
0.04% 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
$114K
-72% vs prior year
Spent
$170K
To programs
74%
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$114K
FY2022▼ -72%
Tap a bar for its year
Revenue by fiscal year
FY2020$53K
FY2021$405K
FY2022$114K
FY2023$50K
FY2024$204K
Expenses
$170K
FY2022▲ +82%
Tap a bar for its year
Expenses by fiscal year
FY2020$44K
FY2021$94K
FY2022$170K
FY2023$232K
FY2024$119K
Net assets
$2.1M
FY2022▼ -17%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$2.5M
FY2022$2.1M
FY2023$2.2M
FY2024$2.4M

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 Jul 1994.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $125K Management & general 24% · $41K Fundraising 2% · $4K

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
Yui Chu
Secretary
$0Pt VII · Sec A
James Davis
Treasurer
$0Pt VII · Sec A
Sashi Begur
At Large
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Qin Pan
At Large
$0Pt VII · Sec A
Gilbert Wong
At Large
$0Pt VII · Sec A
See Cupertino Library Foundation 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

Funds lifelong learning and self-improvement at the Cupertino Library.

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Provided by the organization

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1 program · $125K · in their own filed words · FY2022
01

S4

The super summer science search is a science competition hosted annually. Students solve a problem in the field of or using science, technology, engineering, art, or mathematics (STEAM).FILM series: the CLF and cupertino senior center conduct this program jointly, whereby a series of movies are shown on a theme.

$125Kprogram 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
Fidelity Investments Charitable Gift FundFY2024$50K
Peter Likhachev FoundationFY2024$14K
American Online Giving Foundation INCFY2024$7K
Total grants receivedfrom 3 funders$71K
See all 3 funders →
Grants paid · 6 grants · $352K · 2020–2024
Shakespeare-San FranciscoCA · FY2024$10,000
Asian American Parents AssociationCA · FY2024$7,475
City of CupertinoFY2023$149,465
Cupertino Historical Society INCCA · FY2022$121,643
Cupertino Historical Society INCCA · FY2021$46,205
Cupertino Historical Society INCCA · FY2020$16,930

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$114K
Ln 12
Gifts and grantsLn 1h$82K
Investment incomeLn 3$33K
Other incomeLn 4–11$166
Money outPt IX
$170K
Ln 25
Programscol B$125K
Managementcol C$41K
Fundraisingcol D$4K
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$166K
Total assetsLn 16$2.1M
LiabilitiesLn 26$900
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$82K
Investment incomeLn 3$33K
Other incomeLn 4–11$166
Gains on assetsLn 7−$13K
Total revenueLn 12$114K
Assets in detailPt X, end of year
CashLn 1$166K
Cash and savings togetherLn 1–2$166K
InvestmentsLn 11–13$1.9M
Total assetsLn 16$2.1M
LiabilitiesLn 26$900
Net assetsLn 32$2.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 666
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 FY22End FY22
Cash and savingsLn 1–2$179K$166K
InvestmentsLn 11–13$2.3M$1.9M
Total assetsLn 16$2.5M$2.1M
LiabilitiesLn 26$4K$900
Net assetsLn 32$2.5M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$122K$122K
Accounting feesLn 11c$17K$17K
Investment management feesLn 11f$16K$16K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$182$182
Information technologyLn 14$6K$4K$2K
Conferences, conventions and meetingsLn 19$1K$1K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$2K$2K$45
Total functional expensesLn 25$170K$125K$41K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $204K$119K$85K$2.4M 990 PDF
FY2023 $50K$232K−$182K$2.2M 990 PDF
FY2022 Viewing $114K$170K−$56K$2.1M 990 PDF
FY2021 $405K$94K$312K$2.5M 990 PDF
FY2020 $53K$44K$9K$2.1M 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 FY2022 990 (6 parts)
Part I · Summary $114,478 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $222,483$81,679
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $182,974$32,633
I-11 Other revenuePrior year $0$166
I-12 Total revenuePrior year $405,457$114,478
I-13 Grants and similar amounts paidPrior year $46,205$121,643
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 $47,442$48,717
I-18 Total expensesPrior year $93,647$170,360
I-19 Revenue less expensesPrior year $311,810−$55,882
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $114,478 across 6 lines filed
VIII-1f All other contributions, gifts and grants$81,679
VIII-1h Total contributions, gifts and grants$81,679
VIII-3 Investment incomeExcluded from tax $46,118$46,118
VIII-7 Net gain or loss on sales of assetsRelated to mission −$13,485−$13,485
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $166$166
VIII-12 Total revenueRelated to mission −$13,319 · Unrelated business $0 · Excluded from tax $46,118$114,478
Part IX · Statement of functional expenses $170,360 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $121,643$121,643
IX-11c Accounting feesManagement $16,800$16,800
IX-11f Investment management feesManagement $15,513$15,513
IX-12 Advertising and promotionFundraising $3,843$3,843
IX-13 Office expensesManagement $182$182
IX-14 Information technologyPrograms $3,838 · Management $2,031$5,869
IX-19 Conferences, conventions and meetingsManagement $1,028$1,028
IX-23 InsuranceManagement $3,145$3,145
IX-24 Other expenses (24a–d)Management $2,292 · Fundraising $45$2,337
IX-25 Total functional expensesPrograms $125,481 · Management $40,991 · Fundraising $3,888$170,360
Part X · Balance sheet $2,093,100 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $179,131$165,740
X-11 Publicly traded securitiesStart of year $2,345,929$1,927,360
X-16 Total assetsStart of year $2,527,470$2,093,100
X-17 Accounts payable and accrued expensesStart of year $3,700$900
X-26 Total liabilitiesStart of year $3,700$900
X-27 Net assets without donor restrictionsStart of year $139,129$155,857
X-28 Net assets with donor restrictionsStart of year $2,384,641$1,936,343
X-32 Total net assets or fund balancesStart of year $2,523,770$2,092,200
X-33 Total liabilities and net assetsStart of year $2,527,470$2,093,100
Part XI · Reconciliation of net assets $2,092,200 net assets at year end
XI-1 Total revenue$114,478
XI-2 Total expenses$170,360
XI-3 Revenue less expenses−$55,882
XI-4 Net assets at start of year$2,523,770
XI-5 Net unrealized gains (losses) on investments−$375,688
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,092,200

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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