Friends of the Mathews Memorial Library, Inc.
P.O. Box 127
Mathews VA 23109
Mission Statement To support and promote the Mathews Memorial Library through advocacy; to receive and encourage gifts , endowments and bequests to the library;  to support and cooperate with the library in developing library services and facilities for the community. 
Leadership
CEO/Executive Director Maree S. Morgan
Board Chair Molly Broderson
Board Chair Company Affiliation Community Volunteers
Contact Information
Address P.O. Box 127
Mathews, VA 23109
Telephone 804 725-0808
Fax 804 725-7668
E-mail
History and Background
Year of Incorporation 2010
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
 
 
Projected Revenue $23,000.00
Projected Expenses $23,000.00
Statements
Mission To support and promote the Mathews Memorial Library through advocacy; to receive and encourage gifts , endowments and bequests to the library;  to support and cooperate with the library in developing library services and facilities for the community. 
Impact
Accomplishments:  Raised $1,350,000 needed for capital expansion project for the library; to have responsibility for the design elements, fundraising and construction phases of the Library Addition Project, and to have expanded the opening of the used bookstore to every Saturday of the year for 4 hours.  
 
Goals:  to continue to meet the needs of the Library .
Needs
  1. Volunteers
  2. Continued funding to meet the ongoing needs of the Library
Background
The Friends of the Mathews Memorial Library (FOL) was established in 1983 .  It raised $67,000 to purchase and renovate a building in the mid-1990's which was used as a temporary Library during the renovation and addition to the existing Library from 1998-2002.  During that time, the FOL raised  $750,000 for the renovation and addition to the existing Library. It has operated a used book store since the 1990s and has used the funds to support programming and the purchase of books, equipment and furnishings for the Library.  It has sold bricks for a walkway and patio outside of the Library as a way to fund needs of the Library.
Areas of Service
Areas Served
Area
Mathews County
Board Chair
Board Chair Molly Broderson
Company Affiliation Community Volunteers
Term Jan 2017 to Dec 2020
Email mollybrodersoneds@gmail.com
Board of Directors
Board Members
NameAffiliation
Molly Broderson President
Michael Cannon none
Joe Diggs Director
Henry Furniss none
Gwynn Henderson Membership Coordinator
Maurice Levis Director
Jo Ann Mulvaney Community Volunteer
Jan Towne Secretary
Mary Whitley none
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 11
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 3
Female 8
Governance
Board Term Lengths 3
Board Term Limits 0
Written Board Selection Criteria? No
Written Conflict of Interest Policy? No
Percentage Making Monetary Contributions 11
Percentage Making In-Kind Contributions 11
Number of Full Board Meetings Annually 12
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Comments
A challenge today is to obtain a volunteer treasure.  As a result, we are paying a CPA to do the work.
Executive Director
Executive Director Maree S. Morgan
Experience
The CEO is the elected President of FOL.  A volunteer position.
Plans
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? No
Nondiscrimination Policy No
Whistleblower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy No
Programs
Description
CEO/ED/Board Comments
In a community with approximately 9,000 residents, the challenge today is to raise the funds needed to complete the Library Addition Project.  The Library is considered the "Heart of the Community" and serves the needs of all in many different ways.  The other challenge for FOL is to attract younger individuals to our organization who would be willing to spend time volunteering.
Fiscal Year
Projected Revenue $23,000.00
Projected Expenses $23,000.00
IRS Letter of Exemption
Detailed Financials
Expense Allocation
Fiscal Year201520142013
Program Expense$21,109$188,565$825,794
Administration Expense$10,275$13,166$9,626
Fundraising Expense$489$3,639$35,266
Payments to Affiliates------
Total Revenue/Total Expenses1.770.280.35
Program Expense/Total Expenses66%92%95%
Fundraising Expense/Contributed Revenue1%10%12%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$202,730$233,719$1,541,896
Current Assets$44,730$75,719$203,433
Long-Term Liabilities$0$50,000$1,210,463
Current Liabilities$0$485$6,951
Total Net Assets$202,730$183,234$331,433
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities--156.1229.27
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%21%79%
Capital Campaign
Currently in a Capital Campaign? No
Dates June 2010 to Nov 2013
Amount Raised To Date $0.00
Capital Campaign Anticipated in Next 5 Years? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView
Comments
Organization Comments
Following a successful capital campaign to complete a nearly 4,000 square foott addition to the Mathews Memorial Library, the building was turned over to the County of Mathews.  The challenge is now to raise funds to meet the needs and requests of the Library for programming, equipment, books, etc.
Foundation Comments
  • Form 990 and financial statements prepared internally by the organization