CLEVELAND PUBLIC LIBRARY FOUNDATION

EIN: 346565428 501(c)(3) Education

CLEVELAND, OH

Total Revenue
$594,272
Total Expenses
$1,910,860
Total Assets
$1,697,365
Net Assets
$1,151,563
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Financial Trends

Organization Details

Formation Year
1957
Legal Domicile
OH
Principal Officer
SAMUEL WRIGHT III
Phone
2166232821
Tax Period
2024-01-01 to 2024-12-31

CLEVELAND PUBLIC LIBRARY FOUNDATION, founded in 1957, is a small nonprofit in the Education sector that reported $594K in total revenue in fiscal year 2024. Revenue fell 70% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 222% operating deficit.

Mission

CLEVELAND PUBLIC LIBRARY FOUNDATION'S MISSION IS TO RAISE PHILANTHROPIC AND ADVOCACY SUPPORT FOR THE CLEVELAND PUBLIC LIBRARY.

Program Service Accomplishments

Program 1
Expenses: $1,835,083 Revenue: $50,766

THE CLEVELAND PUBLIC LIBRARY FOUNDATION EXISTS TO RAISE PHILANTHROPIC SUPPORT FOR CLEVELAND PUBLIC LIBRARY. THE FOUNDATION ALLOWS THE LIBRARY TO DO MORE FOR THE PEOPLE OF THIS COMMUNITY GIVEN THE...

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THE CLEVELAND PUBLIC LIBRARY FOUNDATION EXISTS TO RAISE PHILANTHROPIC SUPPORT FOR CLEVELAND PUBLIC LIBRARY. THE FOUNDATION ALLOWS THE LIBRARY TO DO MORE FOR THE PEOPLE OF THIS COMMUNITY GIVEN THE WORK OUTSIDE THE SCOPE OF TRADITIONAL LIBRARY SERVICES IS NOT FUNDED BY THE STATE AND LOCAL TAX DOLLARS RECEIVED BY THE LIBRARY. WHEN YOU INVEST IN THE WORK OF THE CLEVELAND PUBLIC LIBRARY THROUGH THE FOUNDATION, YOU INVEST IN THE CITY OF CLEVELAND. YOUR INVESTMENT IMPACTS THE FOLLOWING AREAS: FOUNDATION GOALS GOAL 1 ACHIEVE FINANCIAL TARGETS IMPLEMENT FMP (FACILITIES MASTER PLAN) CAPITAL ENHANCEMENTS TO AUGMENT THE CLEVELAND PUBLIC LIBRARY TEN-YEAR CAPITAL PLAN TO IMPROVE ALL 27 OF ITS NEIGHBORHOOD BRANCHES, THE FOUNDATION WILL LEAD FUNDRAISING EFFORTS FOR FMP CAPITAL ENHANCEMENTS TO ACTIVATE THE SYSTEM'S OUTDOOR SPACES AT EACH BRANCH INCLUSIVE OF NAMING OPPORTUNITIES. THE GOAL IS TO CREATE OUTDOOR ENVIRONMENTS TO SERVE AS WELCOMING AND INCLUSIVE SPACES THAT BRING LIBRARY PROGRAMS AND SERVICES DIRECTLY INTO THE COMMUNITIES THEY SERVE. EACH SPACE WILL BE DEVELOPED IN TANDEM WITH THE LIBRARY'S CAPITAL PROJECTS TEAM AND WILL REFLECT THE DIVERSE AND DISTINCT NEIGHBORHOODS IN WHICH THEY RESIDE. FMP CAPITAL ENHANCEMENTS WILL ADDRESS THE LIBRARY'S BROADER STRATEGIC GOALS IN THE FOLLOWING WAYS: GOAL 2 ENSURE THE LONG-TERM FINANCIAL SUSTAINABILITY OF THE FOUNDATION BUILD THE OPERATING RESERVES OF THE FOUNDATION AND DEVELOP RESERVE FUNDING POLICY. GOAL 3 RAISE FUNDING TO SUPPORT READING LITERACY & DIGITAL EQUITY PROGRAMS THE FOUNDATION WILL RAISE FUNDING FOR LIBRARY READING AND DIGITAL EQUITY PROGRAMS TO HELP THE LIBRARY ADDRESS THESE ISSUES. FUNDING FOR PROGRAMS IN THESE AREAS WILL ALLOW THE LIBRARY TO SERVE MORE AUDIENCES IN THE CITY OF CLEVELAND AND BEYOND. GOAL 4 PROVIDE FINANCIAL SUPPORT FOR LIBRARY PROGRAMS THAT ADDRESS REAL- TIME COMMUNITY NEEDS THE FOUNDATION WILL PROVIDE FUNDRAISING DOLLARS TO THE LIBRARY TO SUPPORT OTHER AREAS OF ITS STRATEGIC PLAN THAT ADDRESS REAL-TIME COMMUNITY NEEDS. GOAL 5 BOLSTER THE FOUNDATION'S REPUTATION IN THE REGION THROUGH ENHANCING BOARD INFRASTRUCTURE TO ENGAGE NEW AUDIENCES BUILD THE REPUTATION OF THE ORGANIZATION BY ENGAGING NEW AUDIENCES. THIS WILL BE ACHIEVED THROUGH THE LENS OF PAR: - PHILANTHROPY: GIVE OR GET NEW FUNDRAISING DOLLARS - ADVOCACY: PARTICIPATE IN ADVOCACY EFFORTS THAT YIELD FINANCIAL, LEGISLATIVE, AND/OR POLICY RESOURCES FOR THE LIBRARY AND ITS MISSION - RELATIONSHIPS: IDENTIFY NEW AUDIENCES TO INTRODUCE THE WORK OF THE LIBRARY & FOUNDATION ENSURE EVERY CHILD READS: CLEVELAND PUBLIC LIBRARY PRIORITIZES ITS YOUTH LITERACY EFFORTS. FROM STORY TIME, TUTORING, AND HOMEWORK HELP TO RESOURCES FOR PARENTS AND EDUCATORS, OUR ROLE IS TO ENSURE CHILDREN HAVE THE TOOLS THEY NEED TO BE SUCCESSFUL READERS. COMMUNITY CONNECTOR: THE LIBRARY SERVES AS A CONNECTOR FOR SOCIAL SERVICES AND OTHER BASIC NEED RESOURCES FOR THE COMMUNITY. WHETHER ADULT PATRONS NEED ACCESS TO EDUCATION SERVICES OR CHILDREN NEED ACCESS TO HEALTHY FOOD OPTIONS, YOU CAN FIND IT AT CLEVELAND PUBLIC LIBRARY. WORKFORCE READY: THROUGH PROGRAMS, SERVICES, AND COMMUNITY PARTNERSHIPS CLEVELAND PUBLIC LIBRARY ENSURES CLEVELANDERS HAVE THE SKILLS AND RESOURCES THEY NEED TO BE SUCCESSFUL IN THE WORKFORCE. BRIDGE THE CULTURAL DIVIDE: THE LIBRARY OFFERS PEOPLE A PLATFORM TO LEARN FIRST HAND FROM EACH OTHER AND COME TO APPRECIATE THE VARIETY AND RICHNESS OF THE WORLDS CULTURES. EMERGING TECHNOLOGY, OUR FEATURED EXHIBITIONS, AND COLLECTIONS PRESENTS OPPORTUNITIES TO BROADEN THE AVENUES FOR INTERCULTURAL ENGAGEMENT.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $506,561
Program Service Revenue $50,766
Investment Income $36,945
Other Revenue $0
TOTAL REVENUE $594,272

Expense Breakdown

Grants Paid $1,741,967
Salaries & Benefits $0
Fundraising Expenses $19,973
Program Expenses $1,835,083
Other Expenses $168,893
TOTAL EXPENSES $1,910,860

Year-over-Year Comparison

2024 2023 Change
Revenue $594,272 $1,993,829 -0.7%
Expenses $1,910,860 $409,740 +3.7%
Net Income $-1,316,588 $1,584,089 -1.8%
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
32
Independent Members
32
Employees
N/A
Volunteers
60

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
4
$0
Total Directors
33
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LARESE PURNELL PRESIDENT 0.50
Officer Director
$0 $0 $0
DOROTHY BAUNACH VICE PRESIDE 0.30
Officer Director
$0 $0 $0
SAMUEL WRIGHT III TREASURER 0.30
Officer Director
$0 $0 $0
ERIN DEIMLING SECRETARY 0.30
Officer Director
$0 $0 $0
ADAM GIMBEL DIRECTOR 0.20
Director
$0 $0 $0
ALLEN DENGLER DIRECTOR 0.20
Director
$0 $0 $0
BRIAN BROADUS DIRECTOR 0.20
Director
$0 $0 $0
CECIL LIPSCOMB DIRECTOR 0.20
Director
$0 $0 $0
CHRIS KAISER DIRECTOR 0.20
Director
$0 $0 $0
CHRISTINE MILLEN DIRECTOR 0.20
Director
$0 $0 $0
CRAIG MARTIN DIRECTOR 0.20
Director
$0 $0 $0
DONNA FLYNT DIRECTOR 0.20
Director
$0 $0 $0
ERIC GORDON DIRECTOR 0.20
Director
$0 $0 $0
FELTON THOMAS DIRECTOR 0.20
Director
$0 $0 $0
GREG HARRIS DIRECTOR 0.20
Director
$0 $0 $0
GREGORY STEFANI DIRECTOR 0.20
Director
$0 $0 $0
JEFFERY PATTERSON DIRECTOR 0.20
Director
$0 $0 $0
JOSEPH COMPTON DIRECTOR 0.20
Director
$0 $0 $0
KATHRYN HEIDEMANN DIRECTOR 0.20
Director
$0 $0 $0
KATIE COLLIN DIRECTOR 0.20
Director
$0 $0 $0
MANICKA COLLINS-BRYANT DIRECTOR 0.20
Director
$0 $0 $0
MARGARET CANNON DIRECTOR 0.20
Director
$0 $0 $0
NANCY BOSTWICK DIRECTOR 0.20
Director
$0 $0 $0
MARK ROSS DIRECTOR 0.20
Director
$0 $0 $0
MICHELE UNGER DIRECTOR 0.20
Director
$0 $0 $0
MOLLY MCNALLY DIRECTOR 0.20
Director
$0 $0 $0
NANCY BOSTWICK DIRECTOR 0.20
Director
$0 $0 $0
PAUL PUTMAN DIRECTOR 0.20
Director
$0 $0 $0
ROBERT PINCUS DIRECTOR 0.20
Director
$0 $0 $0
RON JOHNSON DIRECTOR 0.20
Director
$0 $0 $0
RONNA MCNAIR DIRECTOR 0.20
Director
$0 $0 $0
YVETTTE ITTU DIRECTOR 0.20
Director
$0 $0 $0
THOMAS CORRIGAN DIRECTOR 0.20
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 $594,272 $1,910,860 $1,697,365 $-1,316,588
2023 $1,993,829 $409,740 $2,496,453 $1,584,089
2022 $702,110 $489,778 $818,405 $212,332
2021 $436,979 $396,491 $692,602 $40,488
2020 $268,682 $204,048 $613,070 $64,634
2019 $459,958 $351,016 $518,114 $108,942
2018 $250,376 $408,737 $395,497 $-158,361
2018 $267,683 $391,871 $415,048 $-124,188
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