Better Business Bureau Report for
Chicago Public Library Foundation

Better Business Bureau Report issued May 2014
Better Business Bureau Report expires May 2016


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Chicago Public Library Foundation
Address: 20 N Michigan Suite 520
  Chicago, IL 60602
Phone: 312-201-9830
Web Address: www.chicagopubliclibraryfoundation.org
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Better Business Bureau Comments

Year, State Incorporated: 1986, Illinois
Affiliates: None
Stated Purpose: The Chicago Public Library Foundation supports collection development, programs and technology initiatives that connect library users to their community and to the world and ensure that all Chicagoans have the freedom to read, to learn and to discover at the Chicago Public Library.

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Evaluation Conclusions

              

Chicago Public Library Foundation meets the 20 Standards for Charity Accountability.
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Programs

              

The needs of each library user change from day to day and evolve from decade to decade. Libraries are transforming as well–from quiet repositories of books and archives into lively hubs that anchor Chicago neighborhoods. In 2012, they connected people to information about health, ideas, entertainment, new skills and better jobs, on library computers during nearly 3 million free Internet sessions. They also offered laptops and more than 530,000 free WiFi sessions in all 79 locations last year.

For the fiscal year ended December 31, 2012, Chicago Public Library Foundation's program expenses were:

  
Library expenses 4,387,576
Total Program Expenses: $4,387,576
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Governance

              

Chief Executive : Rhona Frazin, President and Chief Executive Officer
Compensation*: 

Chair of the Board: Robert Wislow
Chair's Profession / Business Affiliation: Principal, US Equities Realty

Board Size: 46

Paid Staff Size: 8

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, invitations to fund raising events, grant proposals, internet, planned giving arrangements
Fund raising costs were 13% of related contributions. (Related contributions, which totaled $4,640,058, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Chicago Public Library Foundation's audited financial statements for the fiscal year ended December 31, 2013.

Source of Funds  
Gain on investments 2,585,761
Contributions 2,199,111
Endowment income 1,127,595
Special event revenue 991,631
Donated services 321,721
Other income 2,014
Total Income $7,227,833


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Uses of Funds as a % of Total Expenses

Programs: 80%  Fund Raising: 11%  Administrative: 9% 

Total income $7,227,833
Program expenses $4,387,576
Fund raising expenses 590,985
Administrative expenses 484,505
Total expenses $5,463,066
Income in Excess of Expenses 1,764,767
Beginning net assets 27,659,943
Ending net assets 28,546,525
Total liabilities 91,362
Total assets $28,637,887


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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