2021-04-09T12:53:06-05:00 2020-06-30 953001179 WINDES INC PO BOX 87 LONG BEACH CA 908010087 990 2019-07-01 954368250 THE LIBRARY FOUNDATION OF LOS ANGELES LIBR 2132287500 630 W FIFTH STREET LOS ANGELES CA 90071 KEN BRECHER PRESIDENT 2132287500 2021-04-08 1 DONITA M JOSEPH P00286656 5624351191 2021-04-08 2019 2022-09-23 18:48:47Z KEN BRECHER 630 W FIFTH STREET LOS ANGELES CA 90071 29992018 0 X WWW.LFLA.ORG X 1992 CA TO SUPPORT THE LOS ANGELES PUBLIC LIBRARY. 46 45 42 8 0 0 5902126 6759235 38184 157613 901236 956689 -141149 -127761 6700397 7745776 0 0 0 0 4322763 4082584 0 0 1085249 2506053 2352019 6828816 6434603 -128419 1311173 50200676 50864800 788013 806196 49412663 50058604 X THE FOUNDATION SUPPORTS AND ENRICHES THE CAPABILITIES, RESOURCES, AND SERVICES OF THE LOS ANGELES PUBLIC LIBRARY THROUGH FUNDRAISING, ADVOCACY, AND INNOVATIVE PROGRAMS THAT BENEFIT THE DIVERSE COMMUNITY AND PROMOTE GREATER AWARENESS OF THE LIBRARY'S VALUABLE RESOURCES. 0 0 1241678 INVESTING IN LIFELONG LEARNINGTHE FOUNDATION IS COMMITTED TO BREAKING CYCLES OF LOW LITERACY BY WORKING WITH CHILDREN AND THEIR PARENTS/CAREGIVERS AT ALL 73 LIBRARY LOCATIONS AND IN PARTNERSHIP WITH LOCAL SCHOOLS AND COMMUNITY ORGANIZATIONS. A VARIETY OF PROGRAMS ASSIST ADULTS IN LEARNING SKILLS TO IMPROVE THEIR READING AND WRITING ABILITIES SO THE ADULTS CAN READ ALOUD WITH THEIR CHILDREN FROM BIRTH IN HOPES OF FOSTERING A LOVE OF LIFELONG READING. DURING COVID-19, THE LIBRARY BEGAN OFFERING ADULT LITERACY TUTORING AND CLASSES ONLINE. THE FOUNDATION FUNDED THE DISTRIBUTION OF LAPTOPS AND WI-FI TO LEARNERS TO REMOVE BARRIERS FROM PROGRAM PARTICIPATION IN 2020-2021. THE LIBRARY'S CAREER ONLINE HIGH SCHOOL PROGRAM CONTINUED WITHOUT INTERRUPTION DURING THE PANDEMIC AND HAD AN INCREASE IN STUDENT ENROLLMENT. THE FOUNDATION ALSO PROVIDES SCIENCE, TECHNOLOGY, ENGINEERING, ART, AND MATH PROJECTS VIA FULL STEAM AHEAD PROGRAM. THE FULL STEAM AHEAD, THE LIBRARY'S SCIENCE LITERACY INITIATIVE, PROMPTLY MOVED SELECT WORKSHOPS, PRESENTATIONS, AND EVENTS ONLINE DURING COVID-19. THE FOUNDATION OFFERS A SERIES OF LITERACY-RELATED ACTIVITIES FOR CHILDREN THROUGH THE USE OF COMPUTER AIDES/CYBERNAUTS. THE CYBERNAUTS/COMPUTER AIDE INITIATIVE WAS TEMPORARILY UNAVAILABLE DURING COVID-19 THROUGH JANUARY 2021. 1531917 157613 ENGAGING THE IMAGINATIONTHROUGHOUT THE YEAR, THE FOUNDATION BRINGS MANY ESTABLISHED AND EMERGING AUTHORS, POETS, JOURNALISTS, ACADEMICS, AND ARTISTS FOR PUBLIC EVENTS. THE FOUNDATION DELIVERED PRE-RECORDED ALOUD INTERVIEWS ONLINE DURING COVID-19 AND BETWEEN MARCH AND JUNE 2020. IN SUMMER 2020, ALOUD STARTED OFFERING LIVE-STREAMED EVENTS ONLINE. THE FOUNDATION SEEKS TO PROVIDE LIBRARY AWARENESS, INSPIRE AND CHALLENGE PEOPLE WITH FREE EXHIBITIONS AND UNIQUE PUBLIC PROGRAMMING THAT EXPLORES ART AND LITERATURE, THE CULTURAL LANDSCAPE OF LOS ANGELES, AND THE VAST COLLECTIONS OF THE LIBRARY. STARTING IN JULY 2020, THE POPULAR LA MADE PROGRAM OFFERED BY THE LIBRARY SHIFTED FROM IN-PERSON PROGRAMMING TO DELIVERING MULTI-CULTURAL HUMANITIES PROGRAMMING VIRTUALLY THROUGH THE LIBRARY'S STREAMING CHANNELS. THE FOUNDATION ALSO PROVIDES RESOURCES TO DIGITIZE PHYSICAL COLLECTIONS TO PRESERVE THE COLLECTION AND OFFER ACCESSIBILITY VIA THE INTERNET. ACTIVITIES LIKE THIS CAN BE DONE IN THE NEW OCTAVIA LAB, NAMED FOR PIONEERING SCIENCE FICTION AUTHOR OCTAVIA BUTLER, A MAKER-SPACE THAT GIVES LIBRARY PATRONS VARIOUS TECHNOLOGICAL TOOLS TO INSPIRE CREATIVITY. THE LIBRARY POSTPONED LIBRARY FOUNDATION-FUNDED DIGITIZATION PROJECTS DURING COVID-19; HOWEVER, THE FOUNDATION PLANS TO RESUME DIGITIZATION IN THE FISCAL YEAR ENDED 2021. 1721601 HELPING STUDENTS SUCCEEDFOR STUDENTS USING THE LIBRARY TO COMPLETE SCHOOL ASSIGNMENTS, PARTICIPATE IN ACTIVITIES, AND CONDUCT RESEARCH, THE FOUNDATION'S FUTURE READY TEENS PROGRAMS OFFER ON-DEMAND INDIVIDUAL TUTORING, ACCESS TO COMPUTERS AND FREE PRINTING OF HOMEWORK ASSIGNMENTS, COLLEGE-PREPARATION WORKSHOPS AND PRACTICE SAT/ACT/PSAT EXAMS. THROUGH THE TEENS LEADING CHANGE PROGRAM, THE FOUNDATION PROVIDES TEENS OPPORTUNITIES TO UNDERSTAND CIVICS AT THE LOCAL AND NATIONAL LEVEL, HELPING THEM GAIN THE CRITICAL THINKING SKILLS NECESSARY TO EVALUATE CURRENT SOCIAL ISSUES AND POLITICAL EVENTS. THE PARTNERSHIP WITH HOSPITALS, HEALTH CARE PROVIDERS, DAYCARE CENTERS AND EARLY CHILDHOOD EDUCATION CENTERS HELP PARENTS START THEIR BABIES ON THE PATH TO LIFELONG SUCCESS THROUGH INITIATIVES LIKE READ BABY READ. AN EXPANSION OF THE WE READ TOGETHER PROGRAM, READ BABY READ OFFERS NEW AND EXPECTING PARENTS WITH EVERYTHING THEY NEED TO DEVELOP EARLY LITERACY SKILLS IN THEIR BABIES AND TODDLERS. THE LIBRARY BEGAN OFFERING MANY OF THESE PROGRAMS VIRTUALLY SHORTLY AFTER THE PANDEMIC-RELATED LIBRARY CLOSURES. 4495196 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 240 0 1 42 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 46 45 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X THERESA MORRISON CFO 2132287500 630 W FIFTH STREET LOS ANGELES CA 90071 GWEN MILLER CHAIR 6.00 X X 0 0 0 ROBERT ALVARADO VICE-CHAIR 4.00 X X 0 0 0 KAREN STEVENSON TREASURER 1.00 X X 0 0 0 TOM GEISER SECRETARY 3.00 X X 0 0 0 DEBRA ALBIN-RILEY DIRECTOR 1.00 X 0 0 0 KELLY ANDERSON DIRECTOR 3.00 X 0 0 0 BETSY APPLEBAUM DIRECTOR 2.00 X 0 0 0 CATHERINE HUTTO-GORDON BAKER DIRECTOR 1.00 X 0 0 0 DEBI BISHTON DIRECTOR 1.00 X 0 0 0 JAY BUTTERFIELD DIRECTOR 1.00 X 0 0 0 BRENDON CASSIDY DIRECTOR 1.00 X 0 0 0 ERIC CHAVES DIRECTOR 1.00 X 0 0 0 CARLA CHRISTOFFERSON DIRECTOR 1.00 X 0 0 0 AUSTIN CLEMENTS DIRECTOR 1.00 X 0 0 0 JOHN COOKE DIRECTOR, EMERITIUS 1.00 X 0 0 0 THOMAS CRAHAN DIRECTOR 1.00 X 0 0 0 NANCY DEBRIER DIRECTOR 1.00 X 0 0 0 ROBERT DAWSON DIRECTOR 2.00 X 0 0 0 SUNITA DESHMUKH DIRECTOR 1.00 X 0 0 0 SANDY DUNLEAVY DIRECTOR 1.00 X 0 0 0 MARK EASTON DIRECTOR 1.00 X 0 0 0 KATHRYN EIDMANN DIRECTOR 1.00 X 0 0 0 AMANDA FAIREY DIRECTOR 1.00 X 0 0 0 GINNIFER GOODWIN DIRECTOR 1.00 X 0 0 0 SAMANTHA HANKS DIRECTOR 1.00 X 0 0 0 DEAN HANSELL DIRECTOR 1.00 X 0 0 0 DUSTIN HEALEY DIRECTOR 1.00 X 0 0 0 MARK HUTCHINS DIRECTOR 4.00 X 0 0 0 JUDITH KAMINS DIRECTOR 1.00 X 0 0 0 PATRICIA KAO DIRECTOR 1.00 X 0 0 0 MAI LASSITER DIRECTOR 1.00 X 0 0 0 MIKE LINDSEY DIRECTOR 1.00 X 0 0 0 SARAH KATE LEVY DIRECTOR 1.00 X 0 0 0 SHAUN MALAVIA DIRECTOR 1.00 X 0 0 0 NICOLE NEEMAN BRADY DIRECTOR 1.00 X 0 0 0 BERNARD PARKER DIRECTOR 1.00 X 0 0 0 JOHN PEER DIRECTOR 1.00 X 0 0 0 ELIZABETH RAPOSO DIRECTOR 1.00 X 0 0 0 LISA RICHARDSON DIRECTOR 1.00 X 0 0 0 DAVID ROSENBLUM DIRECTOR 1.00 X 0 0 0 LAURA ROSENWALD DIRECTOR 1.00 X 0 0 0 RACHEL SMALL DIRECTOR 1.00 X 0 0 0 KIM SONNENBLICK DIRECTOR 1.00 X 0 0 0 BETSY WANNER DIRECTOR 1.00 X 0 0 0 STEPHANIE YONEKURA DIRECTOR 1.00 X 0 0 0 JOHN F SZABO CITY LIBRARIAN 2.00 X 0 0 0 ERIC GARCETTI MAYOR OF LOS ANGELES 1.00 X 0 0 0 KENNETH BRECHER PRESIDENT 60.00 X X 489575 0 42168 REBECCA SHEHEE VICE PRESIDENT 60.00 X 264560 0 22006 THERESA MORRISON CHIEF FINANCIAL OFFICER 60.00 X 183798 0 22905 937933 0 87079 3 0 1 0 MANAGED CAREER SOLUTIONS INC 3333 WILSHIRE BOULEVARD SUITE 405 LOS ANGELES CA 90010 STAFFING FOR PROGRAM SERVICES 506464 TUTORCOM 62996 COLLECTION CENTER DRIVE CHICAGO IL 60693 ONLINE TUTORING SERVICE 320000 POWERMYLEARNING INCCFY 520 8TH AVENUE 10TH FLOOR NEW YORK NY 10018 STAFFING FOR PROGRAM SERVICES 304466 BARTON KLUGMAN & OETTING LLP 350 S GRAND AVE STE 2200 LOS ANGELES CA 90071 LEGAL SERVICES 143450 IPROMOTEUCOM INC DEPT LA 23232 PASADENA CA 91185 SWAG/MATERIAL/SUPPLIES FOR PROGRAMS 116877 5 X 822064 1127037 202493 4607641 60362 6759235 READING ALOUD PROGRAM 900099 157613 157613 157613 227586 227586 22122950 21393847 729103 729103 729103 265962 1127037 328864 -62902 -62902 458672 523531 -64859 -64859 7745776 157613 0 828928 X 1049859 340436 150951 558472 2756113 2144730 295581 315802 56222 18156 8609 29457 10927 2654 8273 209463 122789 50921 35753 40000 40000 83213 83213 62811 62811 110628 108825 1803 112960 29905 50357 32698 9562 9562 941 941 SEMINARS, EXHIBITS, AND 1257879 1257260 619 EVENTS 227275 227275 OTHER 183404 77866 105538 COMPUTER EQUIPMENT 172814 161760 5527 5527 90532 81406 7124 2002 6434603 4495196 854158 1085249 X 704380 3193726 141106 34403 2727098 1577150 143269 175226 78918 274262 756375 359783 451986 396592 40003585 39687971 5439824 5011433 510510 514037 50200676 50864800 126220 149753 661793 164500 0 491943 788013 806196 X 19331178 19438463 30081485 30620141 49412663 50058604 50200676 50864800 X 1311173 -668759 3527 X 0 1 X 1 0 X 6990277 7096508 6430066 5902126 6759235 33178212 6990277 7096508 6430066 5902126 6759235 33178212 4182841 28995371 559665 555293 656206 427853 227586 2426603 -47507 -30041 -8595 3006 -64859 -147996 35456819 432977 0.81780 0.80330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42462178 815876 17182 1882565 41412671 41381978 70000 2416680 1406480 42462178 39341076 30000 3340372 1329470 41381978 34487342 1529100 4581389 1256755 39341076 34651259 2012250 -1017491 1158676 34487342 0.44580 0.18950 0.36470 0 0 756375 359783 396592 396592 FEDERAL MORTGAGE NOTES 744264 C HEDGE FUND STRATEGIES 4267169 C 5011433 PAYROLL PROTECTION PROGRAM LOAN PAYABLE 491943 491943 X 7604142 -668759 83280 3527 -581952 8186094 83213 -523531 -440318 7745776 6958201 83280 523531 606811 6351390 83213 83213 6434603 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE USED TO SUPPORT A VARIETY OF PURPOSES INCLUDING LITERACY, EDUCATION, AND HUMANITIES. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES AND CALIFORNIA FRANCHISE TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CORRESPONDING CALIFORNIA REVENUE AND TAXATION CODE SECTIONS. THE FOUNDATION RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF A TAX POSITION, SUCH AS ITS FILING STATUS AS TAX-EXEMPT, ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. THE FOUNDATION IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS THREE YEARS AND FOR CALIFORNIA PURPOSES IS FOUR YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN VALUE OF CHARITABLE REMAINDER TRUSTS 3,527. PART XI, LINE 4B - OTHER ADJUSTMENTS: LIBRARY STORE EXPENSES -523,531. PART XII, LINE 2D - OTHER ADJUSTMENTS: LIBRARY STORE EXPENSES 523,531. SCHEDULE D, PART V, LINE 1E THE LFLA HAS A BOARD APPROVED INVESTMENT PORTFOLIO POLICY STATEMENT IN PLACE FOR APPROPRIATING ENDOWMENT EXPENDITURES RANGING FROM 4% TO 6% OF THE GENERATED EARNINGS FROM THE ENDOWMENT FUND. THIS YEAR, THE FOUNDATION APPROPRIATED 5% (1,882,565) FROM THE UNRESTRICTED AND TEMPORARILY RESTRICTED ENDOWMENTS TO SUPPORT AND FUND THE FOUNDATION'S PROGRAMS AND OPERATIONS. X X X X X X X STAY AT HOME AND READ A BOOK BALL 127231 127231 13066 YOUNG LITERATI TOAST 114417 114417 92 1 1151351 885389 265962 315706 1392999 1127037 265962 328864 328864 -62902 1 X X X X X X 0 0 0 0 0 0 0 0 0 KENNETH BRECHER PRESIDENT 304575 0 185000 0 0 0 10250 0 31918 0 531743 0 0 0 REBECCA SHEHEE VICE PRESIDENT 189560 0 75000 0 0 0 5040 0 16966 0 286566 0 0 0 THERESA MORRISON CHIEF FINANCIAL OFFICER 158798 0 25000 0 0 0 6471 0 16434 0 206703 0 0 0 X 12 60362 FMV 0 1 0 PART I, COLUMN (B): COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S BYLAWS WERE AMENDED AND RESTATED IN JANUARY 2020 WITH THE FOLLOWING SIGNIFICANT CHANGES: ARTICLE III - UPDATED THE TERMS OF THE AUTHORS AND/OR CREATIVE ARTIST BOARD MEMBERS ARTICLE III - UPDATED THE DESCRIPTION AND TIME FRAME OF BOARD MEMBERS ABLE TO CALL SPECIAL MEETINGS FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE MEETS WITH THE RETURN PREPARERS TO REVIEW THE DRAFT 990, ASK QUESTIONS, AND SUGGEST REVISIONS (USUALLY AT THE JANUARY BOARD AND COMMITTEE MEETINGS). THE DRAFT 990 IS SENT TO ALL BOARD MEMBERS. THEY ARE INVITED TO SPEAK WITH THE AUDIT COMMITTEE MEMBERS AND TAX PREPARERS (WINDES), IF THEY SO WISH. THE CFO AGAIN REVIEWS THE 990 (USUALLY AT THE MARCH OR APRIL BOARD AND COMMITTEEE MEETINGS) WITH REVISIONS, IF ANY, BEFORE FILING. UPON REQUEST, THE CFO WILL ALSO MEET WITH INDIVIDUAL BOARD MEMBERS TO ANSWER ANY QUESTIONS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO: 1) VOTING MEMBERS OF THE BOARD OF DIRECTORS, 2) OFFICERS AS DEFINED IN THE FOUNDATION'S BYLAWS; OR 3) AN EMPLOYEE OF THE FOUNDATION WITH A SIGNIFICANT DECISION-MAKING ROLE IN THE AFFAIRS OR THE OPERATIONS OF THE FOUNDATION, ON AN ANNUAL BASIS. THE DIRECTORS, OFFICERS OR EMPLOYEES ARE REQUIRED TO DISCLOSE ANY RELATIONSHIPS THAT MAY LEAD TO CONFLICTS OF INTEREST AND MUST SIGN AND RETURN THE POLICY EVERY YEAR. THE LAST COMPREHENSIVE REVIEW AND UPDATE TO THIS POLICY WAS COMPLETED IN 2015. FORM 990, PART VI, SECTION B, LINE 15 AN AD HOC COMMITTEE OF THE BOARD'S EXECUTIVE COMMITTEE DETERMINES THE COMPENSATION FOR THE PRESIDENT. THE COMMITTEE SURVEYS MANY OTHER COMPARABLE ORGANIZATIONS AS WELL AS CONSULTS INDEPENDENT FIRMS TO DETERMINE A FAIR COMPENSATION. THE AMOUNTS DETERMINED ARE THEN TAKEN TO THE 14 MEMBER EXECUTIVE COMMITTEE FOR APPROVAL. IN 2016-2017, THE ORGANIZATION ISSUED A COMPREHENSIVE REQUEST FOR PROPOSAL FOR A COMPENSATION AND BENEFITS STUDY. VIVIENT CONSULTING WAS HIRED IN FY 2017-2018 (AUGUST 2017) AND AN OVERVIEW OF THE PROJECT WAS PROVIDED TO THE EXECUTIVE COMMITTEE IN OCTOBER 2017. THE STUDY WAS COMPLETED IN JANUARY 2018 AND A REPORT ISSUED. A COPY OF THIS REPORT CAN BE OBTAINED FROM THE CHAIR OF OUR BOARD, GWEN MILLER OR FROM: 400 CONTINENTAL BOULEVARD, 6TH FLOOR, EL SEGUNDO, CA 90245 CONTACT: SUSAN SCHROEDER, SSCHROEDER@VIVIENT.COM. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS AS WELL AS THE FORM 990 AND THE IRS DETERMINATION LETTER ARE AVAILABLE VIA THE ORGANIZATION'S WEBSITE, WWW.LFLA.ORG, UNDER THE "ABOUT" SECTION, UNDER "FINANCIALS" SECTION OF THE WEBSITE AND CLICK ON "AUDITED FINANCIALS AND "IRS FORM 990 AND "IRS DETERMINATION LETTER". THOSE DOCUMENTS, AS WELL AS OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE MAIN OFFICE OF THE ORGANIZATION. FORM 990, PART VIII, LINE 10B COST OF GOODS SOLD INCLUDES ALL COSTS OF OPERATING THE LIBRARY STORE. FORM 990, PART IX AS PART OF ITS RECURRING STRATEGIC PLANNING PROCESS, THE FOUNDATION REVIEWS ITS PROGRAMS AND THE ALLOCATION OF EXPENSES TO THOSE PROGRAMS. THE COSTS OF PROVIDING VARIOUS PROGRAMS AND OTHER ACTIVITIES OF THE FOUNDATION HAVE BEEN SUMMARIZED ON A FUNCTIONAL BASIS IN THE STATEMENTS OF ACTIVITIES. THEREFORE, CERTAIN COSTS HAVE BEEN ALLOCATED AMONG THE PROGRAMS AND SUPPORTING SERVICES BENEFITED BASED ON THE JUDGMENT OF MANAGEMENT. THE MAJORITY OF EXPENSES CAN GENERALLY BE DIRECTLY IDENTIFIED WITH THE PROGRAM OR SUPPORTING SERVICE TO WHICH THEY RELATE AND ARE CHARGED ACCORDINGLY. FORM 990, PART I, LINE 8; PART VIII, LINE 1F; PART X, LINE 3 2020 ADDITIONAL ENDOWED GIFTS DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED A PAYMENT, FULFILLING A PLEDGE, OF $25,000 FOR THE CLARE PATTERSON HUTTO ENDOWMENT FOR A TOTAL OF $200,000. THIS ENDOWED FUND WAS ESTABLISHED FOR THE PURPOSE OF SUPPORTING THE LOS ANGELES PUBLIC LIBRARY'S LIVE HOMEWORK PROGRAM. DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED AN ADDITIONAL GIFT OF $12,000 FOR THE LYNN STRASBURG MILLER ENDOWED FUND FOR A TOTAL OF $102,000. THIS ENDOWMENT WAS ESTABLISHED FOR THE PURPOSE OF SUPPORTING THE LOS ANGELES PUBLIC LIBRARY'S STUDENT ZONES PROGRAM. DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED AN ADDITIONAL GIFT OF $10,000 FOR THE DEAN HANSELL ENDOWED FUND FOR A TOTAL OF $60,000. THIS ENDOWMENT WAS ESTABLISHED FOR THE PURPOSE OF SUPPORTING THE LOS ANGELES PUBLIC LIBRARY'S ADULT LITERACY PROGRAM. ALL OF THESE GIFTS ARE PERMANENTLY RESTRICTED AND ONLY EARNINGS FROM THESE FUNDS ARE DESIGNATED TO SUPPORT THESE PROGRAMS. 2020 NEW ENDOWED GIFTS DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED A BEQUEST OF $750,000 FROM THE ESTATE OF JANICE MCCOY MILLER. USING THIS GIFT, THE BOARD-DESIGNATED ENDOWED FUND WAS ESTABLISHED FOR THE PURPOSE OF SUPPORTING LFLA-FUNDED PROGRAMS IN UNDERSERVED BRANCH LIBRARIES. DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED GIFTS TOTALING $43,875.64 FROM THE 25TH ANNIVERSARY CAMPAIGN CELEBRATING THE COUCIL OF THE LIBRARY FOUNDATION (LFC). USING THIS GIFT, THE BOARD-DESIGNATED ENDOWED FUND WAS ESTABLISHED FOR THE PURPOSE OF SUPPORTING THE CHILLDREN'S COLLECTION. ADDITIONAL 2020 BEQUESTS DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED AN ADDITIONAL UNRESTRICTED BEQUEST, FROM THE ESTATE OF ARLINE ZUCKERMAN, TOTALING, $145,477, AND A PAYMENT FULFILLING A PLEDGED BEQUEST FOR $92,000. ALL GIFTS ARE FOR THE PURPOSE OF SUPPORTING THE ORGANIZATION. DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED A PAYMENT FULFILLING A PLEDGED BEQUEST, FOR $175,000, FROM THE ESTATE OF BARBARA TOOHEY, AN ADDITIONAL UNRESTRICTED BEQUEST, TOTALING $25,000, AND AN ADDITIONAL UNRESTRICTED PLEDGED BEQUEST OF $175,000. ALL GIFTS ARE FOR THE PURPOSE OF SUPPORTING THE ORGANIZATION. DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED AN UNRESTRICTED PLEDGED BEQUEST, FOR $150,000, FROM THE ESTATE OF EILEEN KOMM FOR THE PURPOSE OF SUPPORTING THE ORGANIZATION. DURING THE YEAR ENDED JUNE 30, 2020, THE LIBRARY FOUNDATION OF LOS ANGELES RECEIVED A PAYMENT FULFILLING A PLEDGED BEQUEST, FOR $250,000, FROM THE ESTATE OF NICHOLAS J. LABEDZ IN MEMORY OF JANE WARD. THIS GIFT IS FOR THE PURPOSE OF SUPPORTING THE ORGANIZATION. PART VIII LIBRARY STORE THE FOUNDATION OPERATES A GIFT STORE LOCATED IN THE HISTORIC LOS ANGELES CENTRAL LIBRARY. THE LIBRARY STORE WAS REMODELED IN 2016, AFTER 18 YEARS, IN ORDER TO REFRESH THE APPEARANCE AND BRING IT INTO FULL ADA COMPLIANCE. THE LIBRARY STORE SALES SUPPORT THE LOS ANGELES PUBLIC LIBRARY. AS A RESULT OF THE COVID-19, THE LIBRARY STORE WAS CLOSED FOR 2 MONTHS AND TRANSITIONED TO ONLINE SALES IN THE SPRING. THE LIBRARY STORE HAS WORKED DILIGENTLY THROUGH THE FALL 2020 TO SPREAD THE WORD ABOUT THE LIBRARY STORE'S OFFERINGS, PARTNERED WITH NEIGHBORHOOD ORGANIZATIONS, AND USED CLOSEST PARTNERSHIPS TO REACH NEW AUDIENCES. THE LIBRARY STORE LAUNCHED AN ONLINE CAMPAIGN AND SENT TARGET EMAILS THROUGH THE LIBRARY'S PUBLIC RELATIONS DEPARTMENT TO PROMOTE ONLINE SALES IN RESPONSE TO COVID-19 FOR THE HOLIDAY SEASON. IN DECEMBER 2020, THE STORE PARTICIPATED IN AN EVENT WITH THE LOS ANGELES PHILHARMONIC, MUSEUM OF CONTEMPORARY ART, AND THE BROAD MUSEUM TO ENCOURAGE SHOPPING AND SUPPORTING THESE ORGANIZATIONS WHICH HAVE BEEN SIGNIFICANT IMPACTED BY COVID-19. FORM 990, PART IX, LINE 7 OTHER SALARIES AND WAGES ALSO INCLUDE ADULT LITERACY PERSONNEL, STUDENT ZONE HELPERS, COMPUTER AIDES, AND ALL STAFF NECESSARY TO CARRY OUT PROGRAM SERVICES WITHIN THE 73 BRANCHES OF THE LOS ANGELES PUBLIC LIBRARY SYSTEM. 990, PART IX, LINE 12 MARKETING AND PROMOTIONAL COSTS OF $110,628 INCLUDE ADVERTISING AND COLLATERAL MATERIALS FOR PROGRAMS OFFERED TO THE PUBLIC SUCH AS SIGNAGE, POSTERS, FLYERS, BOOKMARKS, BROCHURES, BOOK BAGS, AND GAME BOARDS, DISTRIBUTED THROUGH SCHOOLS, COMMUNITY ORGANIZATIONS, AND BRANCH LIBRARIES. FORM 990, PART X, LINE 25 IN MARCH 2020, CONGRESS PASSED THE PAYCHECK PROTECTION PROGRAM, AUTHORIZING LOANS TO SMALL BUSINESSES FOR USE IN PAYING EMPLOYEES THAT THEY CONTINUE TO EMPLOY THROUGHOUT THE COVID-19 PANDEMIC AND FOR RENT, UTILITIES AND INTEREST ON MORTGAGES. IN APRIL 2020, THE FOUNDATION SUCCESSFULLY SECURED A $491,002 SMALL BUSINESS ASSOCIATION ("SBA") LOAN UNDER THE PAYCHECK PROTECTION PROGRAM. PER THE TERMS OF THE LOAN, THE FULL AMOUNT WILL BE FORGIVEN AS LONG AS LOAN PROCEEDS ARE USED TO COVER PAYROLL COSTS AND OTHER SPECIFIED NON-PAYROLL COSTS (PROVIDED ANY NON-PAYROLL COSTS DO NOT EXCEED 40% OF THE FORGIVEN AMOUNT) OVER A 24-WEEK PERIOD AFTER THE LOAN IS MADE; AND EMPLOYEE AND COMPENSATION LEVELS ARE MAINTAINED. THE FOUNDATION INTENDS TO COMPLY WITH THE ABOVE TERMS IN ORDER TO QUALIFY FOR FULL OR PARTIAL LOAN FORGIVENESS. TO THE EXTENT IT IS NOT FORGIVEN, THE FOUNDATION WOULD BE REQUIRED TO REPAY THAT PORTION AT AN INTEREST RATE OF 1% OVER A PERIOD OF TWO YEARS, WITH A FINAL INSTALLMENT ESTIMATED BY APRIL 2022. DURING THE YEAR ENDED JUNE 30, 2020, THE FOUNDATION HAS ACCRUED INTEREST EXPENSE OF $941. AS OF THE ISSUANCE OF THESE FINANCIAL STATEMENTS THE FOUNDATION HAS NOT MADE ANY PAYMENTS ON THE BALANCE OF THE LOAN OR APPLIED FOR LOAN FORGIVENESS. FORM 990, PART XI, LINE 9: CHANGES IN VALUE OF CHARITABLE REMAINDER TRUSTS 3,527. CHARITABLE REMAINDER UNITRUSTS (2) CA T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0