LA COUNTY LIBRARY FOUNDATION
Mission Statement
LA County Library Foundation, founded in 1982, raises funds and creates partnerships to support LA County Library and the millions of children, teens, and adults whose lives it enriches with free programs, services, and resources. The Library is a dynamic and unifying force for Los Angeles County, with the Library Foundation a vital partner. Public dollars don’t cover all the Library’s costs for the free services it provides with 86 libraries and a mobile fleet of 18 vehicles serving 3.4 million people across more than 3,000 square miles. LA County Library Foundation works to bridge that funding gap - with gifts from private sources, including foundations, corporations, and individuals - and builds deep-rooted support for the Library and its role as a cornerstone of the community. Your donation to LA County Library Foundation is an investment in LA County Library and your community. ?You are investing in literacy and lifelong learning, you're supporting the freedom to read - a range of ideas and information. You are investing in a stronger workforce. You are investing in creativity. You are investing in a more inclusive, culturally aware, and just community.
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
|
77.0% | 89.3% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
10.3% | 8.2% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
12.8% | 0.0% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
12.8 mo | 9.3 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
0.0% | 0.3% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
99.3% | 89.4% |
P10P90
|
Below median |
|
Revenue growth
Year over year revenue growth
|
17.2% | 8.4% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
16.1% | 9.0% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
7.3% | 2.8% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $480K | $445K | $476K | 77.0% | 1 |
| 2023 | $409K | $383K | $441K | 73.1% | 1 |
| 2022 | $335K | $306K | $415K | 74.7% | 1 |
| 2021 | $546K | $276K | N/A | — | 1 |
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