Young Mens Library Association
- Assets
- $819.4k
- Revenue
- $495.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Ware, MA
- Founding
- 11/1935
- Data as of
- 06/2021
- EIN
- 04-2152681
Organization Overview
Young Mens Library Association is located in Ware, 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. As of 06/2021, Young Mens Library Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Young Mens Library 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 06/2021, Young Mens Library Association generated $495.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $271.8k during the year ending 06/2021. While expenses have increased by 0.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FUNCTION AS A LIBRARY FOR THE TOWN OF WARE AND SURROUNDING COMMUNITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL PROGRAMS ARE USED TO MAINTAIN A LIBRARY FOR THE RESIDENTS OF WARE AND THE SURROUNDING COMMUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Christensen Treasurer & Director | OfficerTrustee | 1 | $0 |
Peter Thamel President & Director | OfficerTrustee | 2 | $0 |
Diana Rucki Secretary & Director | OfficerTrustee | 0.5 | $0 |
Mary Healy Vice Pres & Director | OfficerTrustee | 0.5 | $0 |
Kenneth Higney Director | Trustee | 0.5 | $0 |
Lewis Iadarola Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,243 |
| Investment income | $3,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $495,080 |
| Statement of Expenses | |
|---|---|
| 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. | $500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $149,249 |
| Pension plan accruals and contributions | $10,331 |
| Other employee benefits | $0 |
| Payroll taxes | $12,396 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,041 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,726 |
| Travel | $108 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,467 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,159 |
| All other expenses | $0 |
| Total functional expenses | $271,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $345,575 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $237,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $819,386 |
| Accounts payable and accrued expenses | $10,923 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $46,962 |
| Total liabilities | $57,885 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $761,501 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Young Mens Library Association has recieved totaling $8,305.
| Awarding Organization | Amount |
|---|---|
John H G & Grace B Gilbert Tr U Ind 10140518002 Pittsburgh, PA PURPOSE: GENERAL OPERATING | $6,434 |
Helen W Handanian Charitable Trust 74002 005 Third National Bank Tax Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $1,857 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pierpont Morgan Library New York, NY | $416,332,166 | $59,153,120 |
Rochester Public Library Rochester, NY | $13,709,813 | $21,920,405 |
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 |