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Financial Management

We take this responsibility seriously. To ensure the efficient use of private funds, the Foundation has established a Financial and Investment Committee to:

  • Provide financial oversight for the accounting, management and investment of all funds
  • Arrange an annual audit conducted by a professional firm
  • Establish an internal management control system
  • Review and approve an annual operating and grant budget before presenting it to the board for adoption
  • Monitor the use of restricted funds and establish spending policies for all resources.

An annual audit is performed by an external Certified Public Accounting firm by the top-rated accounting and consulting firm Clark Nuber, which specializes in non-profit organizations. The Foundation has both endowed and non-endowed funds. Endowment funds are invested strategically to preserve their original value and generate income. Income generated from these funds are used to support Library projects funded by the Foundation. The Seattle Public Library Foundation is a 501(c)(3) charitable organization registered with the IRS and with the State of Washington.

The Seattle Public Library Foundation’s IRS 990 Forms:

The Seattle Public Library Foundation’s Audited Financials:

The Foundation has earned a platinum seal of transparency from Candid (GuideStar) and a rating as a Four-Star Charity from Charity Navigator, the highest honors of financial transparency from leading independent charity evaluators.