TY 2023 Form 990 Schedule O

efile Public Visual Render ObjectId: 202403039349302400 - Submission: 2024-10-29 TIN: 93-1190983

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

THE LIBRARY FOUNDATION

Employer identification number

93-1190983

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 4	THE ORGANIZATION'S BYLAWS AND ARTICLES OF INCORPORATION WERE UPDATED TO REPLACE "CHIEF EXECUTIVE OFFICER" WITH "EXECUTIVE DIRECTOR."
FORM 990, PART VI, SECTION B, LINE 11B	THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM. APPROXIMATELY ONE WEEK PRIOR TO FILING, THE DRAFT FORM 990 IS SENT ELECTRONICALLY TO ALL TRUSTEES, WITH AN EMAIL CALLING THEIR ATTENTION TO PORTIONS OF THE FORM MOST LIKELY TO BE READ BY THE PUBLIC AND FUNDERS ON GUIDESTAR. IN ADDITION, REPRESENTATIVES OF THE BOARD, APPOINTED BY THE BOARD CHAIR, WILL REVIEW AND DISCUSS, EITHER IN PERSON, VIA TELEPHONE/VIDEO CONFERENCE, OR VIA EMAIL, THE DRAFT IN ADVANCE OF ITS FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	EACH DIRECTOR, PRINCIPAL OFFICER, MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS, AND KEY EMPLOYEE SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: (1) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (2) HAS READ AND UNDERSTANDS THE POLICY; (3) AGREES TO COMPLY WITH THE POLICY; (4) UNDERSTANDS THAT THE POLICY APPLIES TO ALL COMMITTEES AND SUBCOMMITTEES HAVING BOARD-DELEGATED POWERS; AND (5) UNDERSTANDS THAT THE FOUNDATION IS A CHARITABLE ORGANIZATION THAT MUST ENGAGE IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES TO MAINTAIN ITS EXEMPT STATUS.
FORM 990, PART VI, SECTION B, LINE 15A	IN 2023-2024, THE BOARD OF TRUSTEES, IN PARTNERSHIP WITH A RECRUITMENT FIRM, CONDUCTED A SEARCH FOR A NEW EXECUTIVE DIRECTOR. SALARY FOR THE NEW EXECUTIVE DIRECTOR WAS DETERMINED THROUGH AN ANALYSIS OF COMPARABLE DATA, REVIEW BY INDEPENDENT FIRM, AND THE DELIBERATION AND DECISION OF THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS MAY BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. SUCH REQUESTS ARE CONSIDERED ON A CASE BY CASE BASIS.
FORM 990, PART VI, SECTION B, LINE 11A:	THE FOUNDATION PROVIDED A COMPLETE COPY OF THE DRAFT FORM 990 TO ALL BOARD MEMBERS, EXCEPT THE FOUNDATION, AT THE REQUEST OF CERTAIN DONORS, REDACTED THE NAME AND ADDRESS OF DONORS FROM THE COPY OF ITS SCHEDULE B.
FORM 990, PART XI, LINE 9:	NET CHANGE IN CARRYING VALUE OF ASSETS HELD IN CHARITABLE TRUSTS 47,005.

Return Reference

Explanation

FORM 990, PART VI, SECTION A, LINE 4

THE ORGANIZATION'S BYLAWS AND ARTICLES OF INCORPORATION WERE UPDATED TO REPLACE "CHIEF EXECUTIVE OFFICER" WITH "EXECUTIVE DIRECTOR."

FORM 990, PART VI, SECTION B, LINE 11B

THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM. APPROXIMATELY ONE WEEK PRIOR TO FILING, THE DRAFT FORM 990 IS SENT ELECTRONICALLY TO ALL TRUSTEES, WITH AN EMAIL CALLING THEIR ATTENTION TO PORTIONS OF THE FORM MOST LIKELY TO BE READ BY THE PUBLIC AND FUNDERS ON GUIDESTAR. IN ADDITION, REPRESENTATIVES OF THE BOARD, APPOINTED BY THE BOARD CHAIR, WILL REVIEW AND DISCUSS, EITHER IN PERSON, VIA TELEPHONE/VIDEO CONFERENCE, OR VIA EMAIL, THE DRAFT IN ADVANCE OF ITS FILING WITH THE IRS.

FORM 990, PART VI, SECTION B, LINE 12C

EACH DIRECTOR, PRINCIPAL OFFICER, MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS, AND KEY EMPLOYEE SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: (1) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (2) HAS READ AND UNDERSTANDS THE POLICY; (3) AGREES TO COMPLY WITH THE POLICY; (4) UNDERSTANDS THAT THE POLICY APPLIES TO ALL COMMITTEES AND SUBCOMMITTEES HAVING BOARD-DELEGATED POWERS; AND (5) UNDERSTANDS THAT THE FOUNDATION IS A CHARITABLE ORGANIZATION THAT MUST ENGAGE IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES TO MAINTAIN ITS EXEMPT STATUS.

FORM 990, PART VI, SECTION B, LINE 15A

IN 2023-2024, THE BOARD OF TRUSTEES, IN PARTNERSHIP WITH A RECRUITMENT FIRM, CONDUCTED A SEARCH FOR A NEW EXECUTIVE DIRECTOR. SALARY FOR THE NEW EXECUTIVE DIRECTOR WAS DETERMINED THROUGH AN ANALYSIS OF COMPARABLE DATA, REVIEW BY INDEPENDENT FIRM, AND THE DELIBERATION AND DECISION OF THE BOARD OF TRUSTEES.

FORM 990, PART VI, SECTION C, LINE 19

THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS MAY BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. SUCH REQUESTS ARE CONSIDERED ON A CASE BY CASE BASIS.

FORM 990, PART VI, SECTION B, LINE 11A:

THE FOUNDATION PROVIDED A COMPLETE COPY OF THE DRAFT FORM 990 TO ALL BOARD MEMBERS, EXCEPT THE FOUNDATION, AT THE REQUEST OF CERTAIN DONORS, REDACTED THE NAME AND ADDRESS OF DONORS FROM THE COPY OF ITS SCHEDULE B.

FORM 990, PART XI, LINE 9:

NET CHANGE IN CARRYING VALUE OF ASSETS HELD IN CHARITABLE TRUSTS 47,005.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2023

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