FRIENDS OF THE CHILDRENS LIBRARY OF HUNTINGTON BEACH CA
Mission Statement
The mission of the Friends of the Children's Library of Huntington Beach is to promote children's interest in literature and reading by increasing community awareness of the children's department; supporting library programs that promote cultural enrichment of children; raising funds to further encourage children's interest in the library; and supporting the development and expansion of library services that promote children's use of the library services. We pledge to support the children's department of the Central Library and its four branches in various ways, including purchasing books and equipment for use by and for the children of Huntington Beach. We endeavor to bring cultural enrichment to the local community (comprised of diverse ethnic and economic groups) through year-round sponsorship of educational programs and entertaining activities. We aim to assist the children's librarians and staff as they introduce young people to the joys of reading. We strive to give our children the priceless gift of literacy.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
84.9% | 87.4% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
15.1% | 7.0% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.0% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
102.5 mo | 19.7 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
0.0% | 0.0% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
62.9% | 85.3% |
P10P90
|
Above median |
|
Revenue growth
Year over year revenue growth
|
37.1% | 1.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
41.3% | 0.2% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
10.3% | 10.7% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $109K | $98K | $834K | 84.9% | 0 |
| 2023 | $79K | $69K | $823K | 82.5% | 0 |
| 2022 | $-11,667 | $74K | $812K | 82.5% | 0 |
| 2021 | $772K | $68K | N/A | — | 0 |
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