Foundation Of The Lorain Public Library System
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2022 | 316,374 | 1,005 | 315,369 | 6465.8 | 0% |
| 2023 | 273 | 24,134 | −23,861 | 285.1 | 0% |
In its most recent public year (2023), this organization spent $23,861 more than it brought in. Its reserves stood at about 285.1 months of spending, down from 6465.8 in 2022. Staff pay was 0% of spending. $189,981 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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