The Newport Beach Library Foundation
Current Fiscal Year
Fiscal Year Start Date: July 1, 2025
Fiscal Year End Date: June 30, 2026
Projected Revenue: $785,250
Projected Expense: $779,115
Revenue vs. Expense ($)
Expense Breakdown: 2025 (%)
| Administration Expense | 1.3% |
| Program Expense | 89.1% |
| Fundraising Expense | 1.3% |
Expense Breakdown: 2024 (%)
| Administration Expense | 2.0% |
| Program Expense | 95.9% |
| Fundraising Expense | 2.1% |
Expense Breakdown: 2023 (%)
| Administration Expense | 13.4% |
| Program Expense | 79.2% |
| Fundraising Expense | 7.3% |
990 Tax Form Newest 990 Year opens each June
Prior Three Years Total Revenue and Expense Totals
| Fiscal Year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Revenue | $3,938,393 | $7,111,675 | $3,624,509 |
| Total Expenses | $3,384,575 | $9,869,745 | $674,558 |
Prior Three Years Revenue Sources
| Fiscal Year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Foundation and Corporation Contributions | - | $6,820,414 | $3,382,212 |
| Government Contributions | - | - | $15,950 |
| Federal | - | - | - |
| State | - | - | - |
| Local | - | - | - |
| Unspecified | - | - | - |
| Individual Contributions | - | - | - |
| Indirect Public Support | - | - | - |
| Earned Revenue | $114,349 | $110,469 | $78,001 |
| Investment Income, Net of Losses | $257,446 | $180,792 | $129,678 |
| Membership Dues | - | - | - |
| Special Events | - | - | $16,168 |
| Revenue In-Kind | - | - | $2,500 |
| Other Revenue | - | $180,792 | $143,188 |
Prior Three Years Expense Allocations by Type
| Fiscal Year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Program Expense | $3,016,934 | $9,468,142 | $534,456 |
| Administration Expense | $43,802 | $197,976 | $90,622 |
| Fundraising Expense | $42,734 | $203,627 | $49,480 |
| Payments to Affiliates | - | - | - |
| Total Revenue/Total Expenses | 1.16 | 0.72 | 5.37 |
| Program Expense/Total Expenses | 89% | 96% | 79% |
| Fundraising Expense/Total Revenue | 1% | 3% | 1% |
Prior Three Years Assets and Liabilities
| Fiscal Year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $9,344,808 | $5,949,058 | $6,266,139 |
| Current Assets | $5,525,266 | $2,556,105 | $3,292,230 |
| Long-Term Liabilities | $4,605,866 | - | - |
| Current Liabilities | $44,699 | $2,107,728 | $19,768 |
| Total Net Assets | $4,694,243 | $3,841,330 | $6,246,371 |
Short Term Solvency
| Fiscal Year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Current Assets/Current Liabilities | 123.61 | 1.21 | 166.54 |
Long Term Solvency
| Fiscal Year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Long Term Liabilities/Total Assets | 49% | - | - |
Endowment/Capital Campaigns
Endowment Value: $4,000,000
Spending Policy: The target goal of the Foundation is to distribute up to 5% of the trailing three years value of the Endowment Fund to the Library annually. The Newport Beach Public Library Foundation’s Board of Directors shall retain the discretion to increase or decrease the amount so distributed to the Library in any fiscal year as the Newport Beach Public Library Foundation is a non-private corporation. The Foundation’s Board of Directors also shall retain the discretion to use a portion of the dividend or interest in any year to cover operating expenses of the Foundation.
Percentage: 5.0%
Are you currently in a Capital Campaign? Yes
Capital Campaign Purpose:
To fund 50% of the cost of construction for a state-of-the-art library lecture hall/civic auditorium. The capital campaign is governed by a memorandum of understanding (MOU) with the City of Newport Beach and three amendments to the MOU.
Campaign Goal: $12,000,000
Capital Campaign Start Date: November 30, 2021
Capital Campaign End Date: January 30, 2026
Capital Campaign Raised-to-Date Amount: $11,300,000
CONTACT
The Newport Beach Library Foundation
1000 Avocado Avenue
Newport Beach, California 92660
Phone: 9497173890