Chesapeake Public Library Foundation

EIN: 541839433 501(c)(3) Education

Chesapeake, VA

Total Revenue
$23,684
Total Expenses
$67,313
Total Assets
$416,639
Net Assets
$416,639
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
VA
Principal Officer
Sean Lynch
Phone
7576413440
Tax Period
2024-01-01 to 2024-12-31

Chesapeake Public Library Foundation, founded in 1998, is a micro nonprofit in the Education sector that reported $22K in total revenue in fiscal year 2018. Revenue fell 81% from the prior year — a significant decline worth monitoring. Expenses of $57K exceeded revenue, resulting in a 153% operating deficit.

Mission

The primary exempt purpose of this organization is to support the literary and educational needs of the City of Chesapeake, VA through the city public libraries technology programming,as well as awareness campaigns, fund raising and outreach that complements the citys established programs and facilities.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,814
Program Service Revenue $0
Investment Income $15,870
Other Revenue $0
TOTAL REVENUE $23,684

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $60,267
Other Expenses $67,313
TOTAL EXPENSES $67,313

Year-over-Year Comparison

2024 2023 Change
Revenue $23,684 $6,274 +2.8%
Expenses $67,313 $56,860 +0.2%
Net Income $-43,629 $-50,586 -0.1%
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
11
Independent Members
11
Employees
N/A
Volunteers
11

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
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jean Carideo President 5.00
Officer Director
$0 $0 $0
Sean Lynch Treasurer 3.00
Officer Director
$0 $0 $0
Robbie Etheridge Secretary 1.00
Officer Director
$0 $0 $0
Jane Elyce Fuqua Glasgow PhD Director 1.00
Director
$0 $0 $0
Barrett Luxhoj Esq Director 1.00
Director
$0 $0 $0
Gene Edwards Director 1.00
Director
$0 $0 $0
Tunkie Stone Director 1.00
Director
$0 $0 $0
Ed Elliott Director 1.00
Director
$0 $0 $0
Don Carey Director 1.00
Director
$0 $0 $0
Jessica Chatham Ex Officio 1.00
Director
$0 $0 $0
C Edward Russell Jr Esq Emeritus 0.00
Director
$0 $0 $0
Stuart Glasser Esq Emeritus 0.00
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 $23,684 $67,313 $416,639 $-43,629
2023 $6,274 $56,860 $460,268 $-50,586
2022 $32,885 $74,514 $464,439 $-41,629
2021 $128,880 $44,543 $506,068 $84,337
2020 $5,399 $27,364 $421,731 $-21,965
2019 $28,688 $22,722 $443,696 $5,966
2018 $22,472 $56,836 $437,730 $-34,364
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