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New York BBB Wise Giving Report for
Queens Library Foundation

A BBB Accredited charity

 



Expiration Date:
04/2016
Name:
Queens Library Foundation
Address:
89-11 Merrick Boulevard
Jamaica, NY 11432
Phone:
718-480-4273
Year, State Incorporated:
1988, New York
Affiliates:
None
Stated Purpose:
" The Queens Library Foundation is the fundraising arm of the Queens Library. Incorporated in 1988, the mission of the Queens Library Foundation is to raise funds from foundations, corporations and private individuals to support the tens of thousands of free programs and services offered by the Queens Library. "





Evaluation Conclusions
 

              
Queens Library Foundation meets the 20 Standards for Charity Accountability.




Programs
 

              
Donors to the Queens Library Foundation understand the importance of libraries in helping to create an enlightened society. Their gifts serve to enrich the lives of every Queens resident every day by enabling the Queens Library to: Offer robust after-school and summer reading programs to school-age students at all of our 62 community libraries; Employ hundreds of youth to assist library patrons of all ages make the most effective use of public access computers, help elementary and middle school students complete their homework, and educate children and families about science and technology; Provide critical literacy and adult learning to Queens residents and newly arriving immigrants, including English for Speakers of Other Languages, and Family Literacy; Improve the overall wellness and quality of life for local residents through health education, programs and screenings; Present programs that highlight the critical importance of caring for and protecting our environment; Present cultural performances and events that enlighten our community and spotlight the magnificent diversity that is Queens; Acquire new books and library materials, both in print and electronic formats.



Governance
 

              
Chief Executive Officer:
Ms. Diana Chapin, Executive Director
Compensation*:
$173,397
Chair of the Board:
Mr. Joseph R. Ficalora
Chair's Profession / Business Affiliation:
President & CEO, New York Community Bank
Board Size:
14
Paid Staff Size:
9



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, telephone appeals, grant proposals, internet, planned giving arrangements
Fund raising costs were 20.4% of related contributions. (Related contributions, which totaled $4,342,529, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on The Queens Library Foundation's Audited Financial Statements for the fiscal year ended June 30, 2012.

Source of Funds  

Contributions

$3,707,693

In-kind Contributed Wages and Fringe Benefits

634,836

Interest and Dividend

235,000

Net Loss on Investment

(142,467)

Total Income

$4,435,062

Program Expenses  

Books and Other Library Materials

$1,095,194

Wages and Fringe Benefits

864,291

Programs (contracted program services and exhibits)

158,796

Other

134,793

Supplies, Equipment and Furniture

111,886

Information Technology

110,072

Contractual and Services

68,266
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

2,543,298
887,994
71,187

$3,502,479

$932,583




Uses of Funds as a % of Total Expenses


Programs: 73%  Fund Raising: 25%  Administrative 2% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $13,568,550
Ending net assets 14,501,133
Total liabilities 270,844

Total assets

$14,771,977






 

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This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.