Better Business Bureau Report for
Chicago Public Library Foundation

Better Business Bureau Report issued February 2012
Better Business Bureau Report expires February 2014


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's mission is to support 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 dicsover 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

               

1. Help children build academic success & a love of reading through Family Summer Reading Program, Festival of Children's Books, Teen Reading, Early Literacy, Great Kids Read, Nature Connections & Teachers in the Library. Over 150,000 benefitted in 2010. 2. Provide funding for public access to information resources & technology, including Cybernavigators, as well as marketing & evaluation initiatives to keep the Chicago Public Library relevant to the lives of all Chicagoans. Over 4 million benefitted in 2010. 3. Expand library collections & create opportunities to discuss books & ideas through programs such as One Book, One Chicago & Chicago Book Festival. Over 100,000 benefitted in 2010.

For the fiscal year ended December 31, 2010, Chicago Public Library Foundation's program expenses were:

  
Program Services 3,820,983
Total Program Expenses: $3,820,983
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Governance

               

Chief Executive : Rhona Frazin, President & CEO
Compensation*:
 $216,957

Chair of the Board: Robert A. Wislow
Chair's Profession / Business Affiliation: Chairman & CEO, U.S. Equities Realty, L.L.C.

Board Size: 42

Paid Staff Size: 6

*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, print advertisements, grant proposals, internet, planned giving arrangements, membership
Fund raising costs were 12% of related contributions. (Related contributions, which totaled $5,906,276, 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, 2010.

Source of Funds  
Contributions 4,834,885
Endowment Income 1,164,008
Special Event revenue, net of expenses 804,595
Donated Services 266,796
Other Income 1,413
Total Income $7,071,697


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Uses of Funds as a % of Total Expenses

Programs: 77%  Fund Raising: 14%  Administrative: 9% 

Total income   $7,071,697
  Program expenses $3,820,983
  Fund raising expenses 695,248
  Administrative expenses 454,637
 
Total expenses   $4,970,868
Income in Excess of Expenses   2,100,829
Beginning net assets   26,231,425
Ending net assets   30,409,375
Total liabilities   376,892
Total assets   $30,786,267


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

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