SLOVER LIBRARY FOUNDATION

EIN: 263772819 501(c)(3) Education

NORFOLK, VA

Total Revenue
$342,172
Total Expenses
$679,074
Total Assets
$12,220,120
Net Assets
$12,220,120
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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
VA
Principal Officer
PAUL D FRAIM
Phone
7576644320
Tax Period
2024-07-01 to 2025-06-30

SLOVER LIBRARY FOUNDATION, founded in 2008, is a small nonprofit in the Education sector that reported $342K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $679K exceeded revenue, resulting in a 98% operating deficit.

Mission

THE FOUNDATION'S MISSION IS TO SUPPORT THE MAINTENANCE AND OPERATION OF A CENTRAL LIBRARY FOR THE CITY OF NORFOLK.

Program Service Accomplishments

Program 1
Expenses: $101,988

SPONSORSHIP OF SPEAKERS, EXHIBITS, RECEPTIONS, PERFORMANCES, AND EDUCATIONAL EVENTS CONDUCTED AT THE NORFOLK PUBLIC LIBRARY THROUGHOUT THE YEAR INCLUDING NATIONAL POETRY EVENTS, NASA SCIENCE...

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SPONSORSHIP OF SPEAKERS, EXHIBITS, RECEPTIONS, PERFORMANCES, AND EDUCATIONAL EVENTS CONDUCTED AT THE NORFOLK PUBLIC LIBRARY THROUGHOUT THE YEAR INCLUDING NATIONAL POETRY EVENTS, NASA SCIENCE EXHIBITS, NATO FESTIVAL EVENTS, POLITICAL SCIENCE SPEAKER FORUMS, YOUTH PIANO RECITALS, AND SIMILAR EVENTS.

Program 2
Expenses: $222,723

INVESTMENTS IN THE NORFOLK PUBLIC LIBRARY'S FACILITIES AND TECHNOLOGY IMPROVEMENTS TO SUPPORT ITS ONGOING MISSION AND ACTIVITIES.

Program 3
Expenses: $209,166

ACTIVITIES AND EVENTS IN THE COMMUNITY TO PROMOTE THE NORFOLK PUBLIC LIBRARY AND ITS PROGRAMS INCLUDING SPONSORSHIP OF EDUCATIONAL WORKSHOPS, DECORATION OF LIBRARY SPACE FOR HOLIDAY EVENTS...

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ACTIVITIES AND EVENTS IN THE COMMUNITY TO PROMOTE THE NORFOLK PUBLIC LIBRARY AND ITS PROGRAMS INCLUDING SPONSORSHIP OF EDUCATIONAL WORKSHOPS, DECORATION OF LIBRARY SPACE FOR HOLIDAY EVENTS, DEVELOPMENT OF INTERACTIVE APPLICATIONS FOR PATRONS, DISTRIBUTION OF PROMOTIONAL MATERIALS, AND SIMILAR ACTIVITES. INCLUDES CERTAIN PROGRAMS COORDINATED WITH THE VIRGINIA ARTS FESTIVAL, NAUTICUS FOUNDATION, VIRGINIA FOUNDATION FOR THE HUMANITIES AND OTHER NON-PROFIT ORGANIZATIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $118,682
Program Service Revenue $0
Investment Income $223,490
Other Revenue $0
TOTAL REVENUE $342,172

Expense Breakdown

Grants Paid $0
Salaries & Benefits $241,136
Fundraising Expenses $0
Program Expenses $533,877
Other Expenses $437,938
TOTAL EXPENSES $679,074

Year-over-Year Comparison

2024 2023 Change
Revenue $342,172 $291,505 +0.2%
Expenses $679,074 $433,888 +0.6%
Net Income $-336,902 $-142,383 +1.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
16
Independent Members
15
Employees
2
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$153,000
Total Directors
16
$153,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL D FRAIM CHAIRMAN & PRESIDENT 40.00
Officer Director
$153,000 $0 $153,000
BLYTHE A SCOTT DIRECTOR 5.00
Director
$0 $0 $0
VINCENT J MASTRACCO JR SECRETARY & TREASURER 5.00
Officer Director
$0 $0 $0
YVONNE T ALLMOND DIRECTOR 0.50
Director
$0 $0 $0
JANE P BATTEN DIRECTOR 0.50
Director
$0 $0 $0
FRANK BATTEN JR DIRECTOR 0.50
Director
$0 $0 $0
JORDAN E SLONE DIRECTOR 0.50
Director
$0 $0 $0
WAYNE WILBANKS VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
DAVID L BERND DIRECTOR 0.50
Director
$0 $0 $0
DEBORAH BUTLER PAINTER DIRECTOR 0.50
Director
$0 $0 $0
FRANK T GADAMS DIRECTOR 0.50
Director
$0 $0 $0
CONRAD M HALL DIRECTOR 0.50
Director
$0 $0 $0
LISA F CHANDLER DIRECTOR 0.50
Director
$0 $0 $0
REV HAROLD J COBB DIRECTOR 0.50
Director
$0 $0 $0
AMANDA TURNER CHENEY DIRECTOR 0.50
Director
$0 $0 $0
RICHARD F BARRY III DIRECTOR 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $342,172 $679,074 $12,220,120 $-336,902
2024 No data No data No data No data
2023 $28,481 $505,727 $10,476,167 $-477,246
2022 $614,841 $548,417 $9,941,575 $66,424
2021 $2,154,646 $450,527 $11,008,810 $1,704,119
2020 $660,719 $735,957 $9,043,797 $-75,238
2019 $510,054 $689,970 $9,069,006 $-179,916
2018 $790,968 $647,356 $8,892,931 $143,612
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