HUNTSVILLE-MADISON COUNTY LIBRARY FOUNDATION

Financial Trends

Organization Details

HUNTSVILLE LIBRARY FOUNDATION, founded in 1985, is a small nonprofit that reported $612K in total revenue in fiscal year 2017. Revenue fell 71% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 80% operating deficit.

Mission

THE HUNTSVILLE-MADISON COUNTY LIBRARY FOUNDATION (HMCLF) WAS ESTABLISHED IN 1986 TO ASSIST IN FUNDRAISING FOR A NEW DOWNTOWN LIBRARY TO SERVE HUNTSVILLE AND MADISON COUNTY. SINCE THAT TIME, THE HMCLF HAS GROWN IN BOTH SCOPE AND BOARD MEMBER SIZE. THE HMCLF'S PRIMARY ROLE TODAY IS TO RAISE AWARENESS AND FUNDING FOR THE HUNTSVILLE-MADISON COUNTY PUBLIC LIBRARY (HMCPL), CURRENTLY CONSISTING OF 10 LOCATIONS; 4 WITHIN THE CITY OF HUNTSVILLE, AND 6 OTHERS ACROSS MADISON COUNTY: TRIANA PUBLIC LIBRARY, MADISON PUBLIC LIBRARY, MONROVIA PUBLIC LIBRARY, TILLMAN D. HILL PUBLIC LIBRARY, GURLEY PUBLIC LIBRARY, AND ELIZABETH CARPENTER PUBLIC LIBRARY OF NEW HOPE. THE HMCPL'S MISSION STATEMENT IS: THIS IS THE PUBLIC'S LIBRARY. WE EMPOWER INDIVIDUALS TO CREATE THEIR OWN FUTURES, EXPLORE THE UNIVERSE OF IDEAS, AND CONNECT WITH OUR COMMUNITY AND THE WORLD. ALL HMCLF ACTIVITIES AND EFFORTS ARE IN SUPPORT OF THE LIBRARY'S MISSION. THEREFORE, THE HMCLF HAS DUAL MISSIONS: 1) TO ADVOCATE FOR THE HMCPL, AND 2) TO ACQUIRE RESOURCES THAT ENHANCE THE LIBRARY'S VALUE TO THE COMMUNITY. IN THE FALL OF 2016, THE HMCLF ESTABLISHED AN ADVOCACY COMMITTEE, THE GOAL OF WHICH IS TO NETWORK WITH ALL LOCAL AND STATEWIDE GOVERNMENTAL OFFICE HOLDERS TO ENSURE FUNDING IS AVAILABLE FOR THE OPERATIONAL NEEDS OF THE LIBRARY'S 10 LOCATIONS AND TO EDUCATE FOUNDATION BOARD MEMBERS ABOUT LIBRARY NEEDS. OUR BIGGEST FINANCIAL CHALLENGE OVER THE PAST SEVERAL YEARS HAS BEEN TO RAISE CAPITAL CAMPAIGN DOLLARS IN SUPPORT OF ONE NEW REPLACEMENT BRANCH FACILITY LOCATED IN THE CITY OF MADISON AND TWO NEW REPLACEMENT BRANCH FACILITIES IN THE CITY OF HUNTSVILLE (ONE IN NORTH HUNTSVILLE AND ONE IN SOUTH HUNTSVILLE). THE MADISON LIBRARY WAS OPENED TO THE PUBLIC IN JANUARY OF 2018. WE WERE SUCCESSFUL IN RAISING NEARLY 1 MILLION IN NEEDED FUNDS FOR MADISON. CONSTRUCTION ON THE NORTH HUNTSVILLE PUBLIC LIBRARY WAS COMPLETED IN SPRING OF 2021 AND WAS OPENED IN APRIL. THE SOUTH HUNTSVILLE PUBLIC LIBRARY WAS COMPLETED DURING 2021 AND WAS OPENED IN SEPTEMBER. THE HMCLF PLANS AND HOSTS A LARGE ANNUAL GALA IN THE FALL OF EACH YEAR TO RAISE MONIES. THIS GALA, VIVE LE LIVRE, IS A WELL- LOVED AND WELL-ATTENDED EVENT WITHIN THE MADISON COUNTY COMMUNITY. ON AVERAGE, 450 GUESTS ENJOY AN EVENING OF GOOD FOOD AND A KEYNOTE ADDRESS FROM A WORLD-RENOWNED AUTHOR. TICKET SALES AND SPONSORSHIP OPPORTUNITIES GENERATE PROFITS FOR THE EVENT, ALL OF WHICH IS ALLOCATED BACK EXCLUSIVELY TO THE HMCPL. THE HMCLF HOSTS 3-4 ADDITIONAL AUTHOR EVENTS THROUGHOUT THE YEAR WHERE WE WELCOME AUTHORS ON BOOK TOUR. THESE BOOK TALKS AND SIGNINGS GENERATE SOME FUNDING AND ARE ALSO WONDERFUL FOR BUILDING AWARENESS OF THE HMCLF AND THE LIBRARY'S OVERALL MISSION FOR OUR COMMUNITY. IN FY 2024, THE HMCLF RAISED 60,000 TO FUND THE VALLEY DIGITAL LIBRARY (FOR DOWNLOADABLE BOOKS AND MUSIC), 64,600 FOR DIRECT SUPPORT FOR MATERIALS FOR ALL 10 LOCATIONS, AND 15,000 FOR ADDITIONAL BOOKS. 22,000 WAS ALSO DESIGNATED FOR THE ALLOCATION OF INTERNAL GRANTS TO SUPPORT VARIOUS BRANCHES AND DEPARTMENTS. THESE LAST FEW YEARS HAVE BEEN UNUSUAL AND SOMEWHAT CHALLENGING FOR FUNDRAISING. HOWEVER, A TERRIFIC RESPONSE TO THE HMCLF'S END OF THE YEAR APPEAL, ALSO RESULTED IN A SOLID YEAR OF PROFITS.

Financial Overview (2024)

Year-over-Year Comparison

Governance

Special Practices & Reported Activities

Compensation of Officers, Directors & Key Employees

Historical Data