LIBRARY LEGACY FOUNDATION OF THE TOLEDO-LUCAS COUNTY PUBLIC LIBRARY

EIN: 341632308 501(c)(3) Education

TOLEDO, OH

Total Revenue
$798,742
Total Expenses
$630,518
Total Assets
$12,751,481
Net Assets
$12,750,268
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
OH
Principal Officer
KATHY SELKING
Phone
4192595123
Tax Period
2024-01-01 to 2024-12-31

LIBRARY LEGACY FOUNDATION OF THE TOLEDO-LUCAS COUNTY PUBLIC LIBRARY, founded in 1989, is a small nonprofit in the Education sector that reported $799K in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. The organization ran a surplus of $168K, a strong 21% operating margin.

Mission

TO SUPPORT THE LIBRARY THROUGH COLLECTION DEVELOPMENT ACTIVITIES TO ADVANCE LITERATURE AND LEARNING, AND SUPPORT OF SPECIAL LIBRARY PROJECTS.

Program Service Accomplishments

Program 1
Expenses: $519,736 Revenue: $798,742

TO SUPPORT THE LIBRARY THROUGH COLLECTION DEVELOPMENT ACTIVITIES TO ADVANCE LITERATURE AND LEARNING, AND SUPPORT OF SPECIAL LIBRARY PROJECTS.

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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 $279,622
Program Service Revenue $132,360
Investment Income $379,818
Other Revenue $6,942
TOTAL REVENUE $798,742

Expense Breakdown

Grants Paid $330,342
Salaries & Benefits $0
Fundraising Expenses $43,383
Program Expenses $519,736
Other Expenses $300,176
TOTAL EXPENSES $630,518

Year-over-Year Comparison

2024 2023 Change
Revenue $798,742 $922,796 -0.1%
Expenses $630,518 $572,392 +0.1%
Net Income $168,224 $350,404 -0.5%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
14
Employees
N/A
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
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANK D JACOBS PRESIDENT N/A
Officer Director
$0 $0 $0
OLIVIA K SUMMONS VICE PRESIDE N/A
Officer Director
$0 $0 $0
KATHY SELKING SECRETARY-TR N/A
Officer Director
$0 $0 $0
LOUISE EHRICK DIRECTOR N/A
Director
$0 $0 $0
PAULA FALL DIRECTOR N/A
Director
$0 $0 $0
STEVE DECKER DIRECTOR N/A
Director
$0 $0 $0
JOHN HULL DIRECTOR N/A
Director
$0 $0 $0
JAMES J JAROS DIRECTOR N/A
Director
$0 $0 $0
ADELE M JASION DIRECTOR N/A
Director
$0 $0 $0
DR PATRICK MCCORMICK DIRECTOR N/A
Director
$0 $0 $0
SUSAN CONDA DIRECTOR N/A
Director
$0 $0 $0
YOLANDA DANYI SZUCH DIRECTOR N/A
Director
$0 $0 $0
DR CALVIN BURNEY JR DIRECTOR N/A
Director
$0 $0 $0
SUSAN DENNY DIRECTOR N/A
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
2024 $798,742 $630,518 $12,751,481 $168,224
2023 $922,796 $572,392 $11,016,817 $350,404
2022 $229,793 $726,415 $9,159,333 $-496,622
2021 $1,622,979 $201,230 $10,925,769 $1,421,749
2020 $1,189,777 $152,779 $9,056,548 $1,036,998
2019 $1,649,781 $611,218 $7,668,451 $1,038,563
2018 $1,720,047 $1,285,308 $5,767,547 $434,739
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