LIBRARIES STEWARD
The Foundation has a fiduciary responsibility to ensure that all gifts are used for the purposes intended by the donors.
We take this responsibility seriously. To ensure the efficient use of private funds, the Foundation practices fund accounting that follows generally accepted accounting principles and emphasizes accountability. Our annual statements are reviewed by an independent accountant and internal policies and procedures are overseen by our Finance Committee and Board of Directors.
Because the Jackson County Library Foundation (JCLF) is considered a component unit of the Jackson County Library District (JCLD) for accounting purposes, the JCLD financials are listed below to show JCLF’s compliance with the annual JCLD audit review. A note from the auditor in 2024 is below.
Blended Component Unit: The Foundation was created in 1982 and organized as a legally separate entity in 1993 as a 501(c)(3) notfor-profit organization. The Foundation exists for the purpose of securing and responsibly managing contributions from individuals, businesses, and foundations to help build community support for the Jackson County Library District in its efforts to learn, grow, and connect with the entire community. The Foundation board consists of nine members from the community that direct the functions of the Foundation and make decisions regarding the direction of the Foundation and the projects it will support. The District has evaluated the Foundation and determined that it does meet the requirements to be presented as a blended component unit as the resources held are considered to be significant to the District and the District is able to impose its will on the day-to-day operations of the Foundation. Although legally separate, the Foundation is reported as a major special revenue fund of the primary government. Separate financial statements for the Foundation are not issued.
The Foundation’s endowment is well managed by the Oregon Community Foundation.