Monson Free Library And Reading Room Association is located in Monson, MA. The organization was established in 1934. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monson Free Library And Reading Room Association 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 06/2023, Monson Free Library And Reading Room Association generated $427.5k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $463.3k during the year ending 06/2023. While expenses have increased by 0.5% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MONSON FREE LIBRARY IS DEDICATED TO SERVING THE RESIDENTS OF MONSON AS A CONTINUALLY EVOLVING AND VITAL COMMUNITY RESOURCE CENTER FOR ALL AGES FOCUSING ON COMMUNITY PRIORITIES, CULTURE AND EDUCATION THROUGH DIVERSE COLLECTIONS, SERVICES, TECHNOLOGY AND PROGRAMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBRARY PROVIDES LITERARY AND ARTISTIC BOOKS, PERIODICALS AND MATERIALS TO THOUSANDS OF INDIVIDUALS AND HAS HELD NUMEROUS WORKSHOPS, SPEECHES AND BOOK SIGNINGS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tian Connaughton Director | Trustee | 2 | $0 |
Geraldine Depace Secretary | OfficerTrustee | 2 | $0 |
Susan Medeiros Treasurer | OfficerTrustee | 2 | $0 |
Alan Morin Director | Trustee | 2 | $0 |
Donna Alberici O'connor President | OfficerTrustee | 2 | $0 |
Jeffrey Roberts Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $335,854 |
All other contributions, gifts, grants, and similar amounts not included above | $50,582 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $386,436 |
Total Program Service Revenue | $0 |
Investment income | $12,360 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $26,898 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $427,456 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $3,533 |
Fees for services: Accounting | $10,875 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $4,246 |
Fees for services: Other | $194 |
Advertising and promotion | $0 |
Office expenses | $16,413 |
Information technology | $16,144 |
Royalties | $0 |
Occupancy | $10,128 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,206 |
Interest | $6,234 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $62,118 |
Insurance | $9,541 |
All other expenses | $621 |
Total functional expenses | $463,347 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $508,287 |
Savings and temporary cash investments | $191,574 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $26,304 |
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 | $619 |
Net Land, buildings, and equipment | $1,057,225 |
Investments—publicly traded securities | $0 |
Investments—other securities | $473,593 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,257,602 |
Accounts payable and accrued expenses | $35,521 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $295,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $330,521 |
Net assets without donor restrictions | $1,754,042 |
Net assets with donor restrictions | $173,039 |
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 | $2,257,602 |