Boston Medical Library
- Assets
- $21.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 1
- Location
- Marshfield, MA
- Founding
- 07/1935
- Data as of
- 06/2022
- EIN
- 04-2013908
Organization Overview
Boston Medical Library is located in Marshfield, MA. The organization was established in 1935. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Medical Library is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Boston Medical Library generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 10.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BE A LIBRARY FOR THE DISSEMINATION OF MEDICAL KNOWLEDGE, THE PROMOTION OF MEDICAL EDUATION AND SCHOLARSHIP, AND THE PRESERVATION AND CELEBRATION OF MEDICAL HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE OF LIBRARY OF MEDICINE AND ALLIED SCIENCES, THE PROMOTION AND ADVANCEMENT OF MEDICAL SCIENCE AND MEDICAL EDUCATION, AND THE CELEBRATION OF MEDICAL HISTORY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Subramanyan Jayasankar MD Trustee/chair Of Board | OfficerTrustee | 1 | $0 |
Edith Jolin MD Trustee/secretary | OfficerTrustee | 5 | $0 |
James Gessner Trustee/treasurer | OfficerTrustee | 3 | $0 |
Mary Jane Houlihan MD Trustee/vice President | OfficerTrustee | 1 | $0 |
Richard S Pieters MD Trustee/president | OfficerTrustee | 5 | $0 |
Shaan Gandhi Assit. Treasurer/trustee | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nutter Mcclennen & Fish Llp Legal Services | 6/29/22 | $182,202 |
Aka Strategy Strategic Planning | 6/29/22 | $153,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $75,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $101,250 |
| Total Program Service Revenue | $593 |
| Investment income | $730,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $924,413 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,757,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,646 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $523 |
| Payroll taxes | $4,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $478,816 |
| Fees for services: Accounting | $82,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $55 |
| Fees for services: Investment Management | $63,908 |
| Fees for services: Other | $1,373 |
| Advertising and promotion | $0 |
| Office expenses | $4,806 |
| Information technology | $1,795 |
| Royalties | $0 |
| Occupancy | $34,500 |
| Travel | $8,400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $618 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,723 |
| All other expenses | $0 |
| Total functional expenses | $1,105,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $346,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $332,798 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,961,907 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,641,148 |
| Accounts payable and accrued expenses | $189,126 |
| Grants payable | $0 |
| Deferred revenue | $2,083 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $191,209 |
| Net assets without donor restrictions | $12,453,463 |
| Net assets with donor restrictions | $8,996,476 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $21,641,148 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Boston Medical Library has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
G Gorham Peters Trust Uw Boston, MA PURPOSE: UNRESTRICTED | $25,000 |
Endowment Analysis
| Beg. Balance | $25,341,282 |
| Earnings | -$3,499,504 |
| Net Contributions | $1,250 |
| Other Expense | $12,846,552 |
| Ending Balance | $8,996,476 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
Publishers International Linking Association Inc Lynnfield, MA | $16,437,833 | $11,352,834 |
Springfield Museums Corporation Springfield, MA | $83,263,430 | $9,886,411 |
Providence Public Library Providence, RI | $36,987,936 | $6,478,555 |
Westchester Library System Elmsford, NY | $6,787,041 | $7,508,558 |
American Antiquarian Society Worcester, MA | $122,268,688 | $9,559,298 |