Galesburg Public Library Foundation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2019 | 384,554 | 135,675 | 248,879 | 396.4 | 3% |
| 2020 | 243,239 | 199,899 | 43,340 | 277.0 | 3% |
| 2021 | 748,769 | 247,926 | 500,843 | 258.0 | 4% |
| 2022 | 1,452,495 | 2,726,577 | −1,274,082 | 15.5 | 1% |
| 2023 | 857,296 | 833,293 | 24,003 | 53.6 | 3% |
In its most recent public year (2023), this organization brought in $24,003 more than it spent. Its reserves stood at about 53.6 months of spending, down from 396.4 in 2019. Staff pay was 3% of spending. $1,033,960 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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