CHARLOTTE MECKLENBURG LIBRARY FOUNDATION

EIN: 461172548 501(c)(3) Education

CHARLOTTE, NC

Total Revenue
$4,905,932
Total Expenses
$2,302,484
Total Assets
$53,032,461
Net Assets
$52,866,311
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
NC
Principal Officer
ALYSSA FEDERICO
Phone
7049734500
Tax Period
2022-07-01 to 2023-06-30

CHARLOTTE MECKLENBURG LIBRARY FOUNDATION, founded in 2012, is a community nonprofit in the Education sector that reported $4.9M in total revenue in fiscal year 2022. Revenue fell 66% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.6M, a strong 53% operating margin.

Mission

THE FOUNDATION SUPPORTS LIBRARY PROGRAMS THROUGH ADVOCACY, FUNDRAISING AND ENDOWMENT MANAGEMENT.

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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 (2022)

Revenue Breakdown

Contributions & Grants $4,905,932
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $4,905,932

Expense Breakdown

Grants Paid $1,840,153
Salaries & Benefits $0
Fundraising Expenses $18,077
Program Expenses $2,046,768
Other Expenses $462,331
TOTAL EXPENSES $2,302,484

Year-over-Year Comparison

2022 2021 Change
Revenue $4,905,932 $14,482,826 -0.7%
Expenses $2,302,484 $1,571,476 +0.5%
Net Income $2,603,448 $12,911,350 -0.8%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
24
Independent Members
23
Employees
N/A
Volunteers
22

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
6
$828,681
Total Directors
24
$491,076
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHANIE ALGER DIRECTOR 0.50
Director
$0 $0 $0
JENNIFER APPLEBY DIRECTOR 0.50
Director
$0 $0 $0
JOCLYN BALANDA DIRECTOR 0.50
Director
$0 $0 $0
JENNIFER BENNETT DIRECTOR 0.50
Director
$0 $0 $0
CAROLEEN TOWERY DIRECTOR 0.50
Director
$0 $0 $0
GENE COCHRANE CHAIR 0.50
Officer Director
$0 $0 $0
LEROY DAVIS DIRECTOR 0.50
Director
$0 $0 $0
SARAH DODD DIRECTOR 0.50
Director
$0 $0 $0
BARB ELLIS DIRECTOR 0.50
Director
$0 $0 $0
SELENA GIOVANNELLI SECOND VICE CHAIR 0.50
Officer Director
$0 $0 $0
ROB HARRINGTON DIRECTOR 0.50
Director
$0 $0 $0
PATRICIA JOHNSON DIRECTOR 0.50
Director
$0 $0 $0
PETER KEANE DIRECTOR 0.50
Director
$0 $0 $0
HELEN HOPE KIMBROUGH FIRST VICE CHAIR 0.50
Officer Director
$0 $0 $0
ELIZABETH KISER DIRECTOR 0.50
Director
$0 $24,988 $204,374
GINA LAWRENCE DIRECTOR 0.50
Director
$0 $0 $0
KELLIE LOFTON DIRECTOR 0.50
Director
$0 $0 $0
ALESSANDRO MORANTE DIRECTOR 0.50
Director
$0 $0 $0
CATON MORRIS DIRECTOR 0.50
Director
$0 $0 $0
SALLY ROBINSON DIRECTOR 0.50
Director
$0 $0 $0
DEBRA SHARP DIRECTOR 0.50
Director
$0 $0 $0
ELIZABETH HOPE STAR DIRECTOR 0.50
Director
$0 $0 $0
MARCELLUS TURNER DIRECTOR 0.50
Director
$0 $47,878 $286,702
CHRISTINA WILSON DIRECTOR 0.50
Director
$0 $0 $0
JENNI GAISBAUER EXECUTIVE DIRECTOR 0.50
Officer
$0 $52,145 $220,686
ALYSSA FEDERICO ASSISTANT SECRETARY 0.50
Officer
$0 $34,413 $293,108
DOUGLAS BENSON ASSISTANT SECRETARY 0.50
Officer
$0 $43,948 $314,887
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 No data No data No data No data
2024 No data No data No data No data
2023 $4,905,932 $2,302,484 $53,032,461 $2,603,448
2022 $14,482,826 $1,571,476 $50,051,589 $12,911,350
2021 $6,519,993 $1,901,846 $38,034,444 $4,618,147
2020 $19,011,019 $820,803 $31,013,254 $18,190,216
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