2024-11-15T16:33:57-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 1188 PADRE DRIVE STE 101 SALINAS CA 93901 990 2023-01-01 770256346 FOUNDATION FOR MO COUNTY FREE LIBRARIES FOUN 8314243564 450 LINCOLN AVENUE 203 SALINAS CA 93901 KELLIE MORGANTINI SECRETARY 8314243564 2024-11-14 1 1 KIELY HOLCOMB CPA P01430569 8317596300 2024-11-14 2023 2024-10-15 13:58:12Z JULIET POOL 450 LINCOLN AVE SUITE 203 SALINAS CA 93901 343512 0 X WWW.FMCFL.ORG X 1989 CA TO ASSIST THE MONTEREY COUNTY FREE LIBRARIES. 8 8 3 15 0 0 277341 311536 0 0 10464 27826 71758 -18809 359563 320553 95617 175500 0 0 78801 79461 0 0 43120 66970 68683 241388 323644 118175 -3091 726480 770101 34443 34630 692037 735471 TO ASSIST THE MONTEREY COUNTY FREE LIBRARIES IN PROVIDING ACCESS TO INFORMATION, EDUCATION, AND RECREATIONAL MATERIALS, AND LIFELONG LEARNING OPPORTUNITIES TO THE DIVERSE CULTURAL, LINGUISTIC, URBAN, AND RURAL COMMUNITIES IT SERVES. 0 0 206538 175500 0 PROVIDED FUNDING TO MONTEREY COUNTY FREE LIBRARIES TO SUPPORT INITIATIVES INCLUDING BUT NOT LIMITED TO HOMEWORK CENTERS, CHILDREN AND YOUTH PROGRAMS SUCH AS SUMMER READING CLUB AND WINTER READING CLUB, TECHNOLOGY RESOURCES, BOOKS AND MATERIALS, AND ADULT LITERACY. 206538 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 CA X JULIET POOL 8314243564 450 LINCOLN AVENUE 203 SALINAS CA 93901 NANCY HARRAY PRESIDENT 2.50 X X 0 0 0 AVIV KADOSH TREASURER 1.25 X X 0 0 0 SHERI CLINE SECRETARY 1.25 X X 0 0 0 LUIS ARREGUIN DIRECTOR 0.75 X 0 0 0 NANCY AUSONIO DIRECTOR 0.75 X 0 0 0 LEINETTE LIMTIACO DIRECTOR 0.75 X 0 0 0 KELLIE MORGANTINI DIRECTOR 0.75 X 0 0 0 WILLIAM SHEARER DIRECTOR 0.75 X 0 0 0 NISHA ADDLEMAN EXECUTIVE DIRECTOR (FROM SPRING 2023) 2.00 X 11468 0 0 MELANIE ZARAGOZA EXECUTIVE DIRECTOR (TO SPRING 2023) 2.00 X 51958 0 5200 63426 0 5200 0 0 0 0 0 63100 248436 23000 311536 27826 27826 4100 63100 22959 -18859 -18859 OTHER INCOME 900099 50 50 50 320553 50 0 8967 175000 175000 500 500 68625 22875 22875 22875 4872 1624 1624 1624 5964 1988 1988 1988 31456 31456 9901 9901 2172 2172 4237 201 3836 200 5779 5779 1452 484 484 484 362 362 2595 865 865 865 DUES AND SUBSCRIPTIONS 9938 3001 3936 3001 BOARD EXPENSE 781 781 MISC. EXPENSES 10 10 323644 206538 73986 43120 233597 287826 108782 3008 35000 35000 5 5 7808 6196 0 1612 349096 442650 726480 770101 1663 2105 32780 32525 34443 34630 X 235969 260780 456068 448701 692037 735471 726480 770101 -3091 29081 17444 0 X X 0 0 0 X X X 1 COUNTY OF MONTEREY - FREE LIBRARIES 946000524 7 1 175000 0 1 175000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1: THE FOUNDATION IS ORGANIZED TO ASSIST THE MONTEREY COUNTY FREE LIBRARIES. A MAJORITY OF THE DIRECTORS AND TRUSTEES OF THE FOUNDATION ARE NOT DIRECTLY INVOLVED IN THE CONTROL OR MANAGEMENT OF THE COUNTY FREE LIBRARIES, AS THE SUPPORTED ORGANIZATIONS (COUNTY LIBRARIES) ARE CONTROLLED BY THE COUNTY. ONE BOARD MEMBER IS A COUNTY LIBRARIAN, HOWEVER THIS BOARD MEMBER HAS NO VOTING RIGHTS ON THE BOARD. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 181037 24250 4997 2053 198238 220169 150 31932 5237 2114 181037 201750 25748 5067 2262 220169 187277 100 21638 5348 1917 201750 166070 28497 5274 2016 187277 0.76588 0.13686 0.09726 1 0 4477 4477 0 3331 1719 1612 1612 ENDOWMENT FUNDS 77203 OTHER INVESTMENTS 2772 OTHER INVESTMENTS 220928 DALLAS SHAFFER BOOK FUND 141747 442650 FUNDS HELD FOR LIBRARIES 32525 32525 X PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO BE USED TO SUPPORT THE PROGRAM SERVICES OF THE FOUNDATION. PART X, LINE 2: MANAGEMENT HAS CONSIDERED THE FOUNDATION'S TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN IN FEDERAL AND STATE TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE FOUNDATION'S RETURNS ARE SUBJECT TO INCOME TAX EXAMINATIONS BY THE FEDERAL AND STATE TAX AUTHORITIES, GENERALLY FOR THREE AND FOUR YEARS, RESPECTIVELY, AFTER THEY ARE FILED. WORDS AND WINE 67200 63100 4100 9587 245 13127 67200 63100 4100 9587 245 13127 22959 -18859 1 COUNTY OF MONTEREY 188 SEASIDE CIRCLE MARINA CA 93933 946000524 501(C)(4) 175000 0 N/A N/A TO ASSIST THE LIBRARY 1 0 PART I, LINE 2: THE FOUNDATION GRANTS FUNDS TO THE MONTEREY COUNTY FREE LIBRARIES. BOARD APPROVAL IS REQUIRED FOR THE DISTRIBUTION OF FUNDS TO THE LIBRARIES, AND THE COUNTY LIBRARIAN REPORTS TO THE BOARD REGULARLY TO REPORT ON HOW THE FUNDS ARE USED. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B BOARD REVIEWS AND APPROVES FORM 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C AN INTERESTED PERSON IS ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST, AS DEFINED BELOW, IS AN INTERESTED PERSON. FINANCIAL INTEREST: A PERSON HAS A FINANCIAL INTEREST IF THE PERSON HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS, INVESTMENT, OR FAMILY: A. AN OWNERSHIP OR INVESTMENT INTEREST IN ANY ENTITY WITH WHICH FMCFL HAS A TRANSACTION OR ARRANGEMENT, B. A COMPENSATION ARRANGEMENT WITH FMCFL OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH FMCFL HAS A TRANSACTION OR ARRANGEMENT, OR C. A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUAL WITH WHICH FMCFL IS NEGOTIATING A TRANSACTION OR ARRANGEMENT. COMPENSATION INCLUDES DIRECT AND INDIRECT REMUNERATION AS WELL AS GIFTS OR FAVORS THAT ARE NOT INSUBSTANTIAL. A FINANCIAL INTEREST IS NOT NECESSARILY A CONFLICT OF INTEREST. A PERSON WHO HAS A FINANCIAL INTEREST MAY HAVE A CONFLICT OF INTEREST ONLY IF THE BOARD DECIDES THAT A CONFLICT OF INTEREST EXISTS, IN ACCORDANCE WITH THIS POLICY. DUTY TO DISCLOSE: IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD. RECUSAL OF SELF: ANY DIRECTOR MAY RECUSE HIMSELF OR HERSELF AT ANY TIME FROM INVOLVEMENT IN ANY DECISION OR DISCUSSION IN WHICH THE DIRECTOR BELIEVES HE OR SHE HAS OR MAY HAVE A CONFLICT OF INTEREST, WITHOUT GOING THROUGH THE PROCESS FOR DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS: AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST: A. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. B. THE CHAIRPERSON OF THE BOARD SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE, THE BOARD SHALL DETERMINE WHETHER FMCFL CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN FMCFL'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. A VOTING MEMBER OF THE BOARD WHO RECEIVES COMPENSATION, DIRECTLY OR INDIRECTLY, FROM FMCFL FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION. A VOTING MEMBER OF ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS AND WHO RECEIVES COMPENSATION, DIRECTLY OR INDIRECTLY, FROM FMCFL FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION. NO VOTING MEMBER OF THE BOARD OR ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS AND WHO RECEIVES COMPENSATION, DIRECTLY OR INDIRECTLY, FROM FMCFL, EITHER INDIVIDUALLY OR COLLECTIVELY, IS PROHIBITED FROM PROVIDING INFORMATION TO ANY COMMITTEE REGARDING COMPENSATION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD MUST APPROVE ALL INCREASES IN COMPENSATION OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2: AN AUDIT OF THE 2023 FINANCIAL YEAR IS CURRENTLY IN PROCESS