Young Mens Library Association
- Assets
- $806.3k
- Revenue
- $306.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Ware, MA
- Founding
- 11/1935
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Young Mens Library Association generated $306.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $325.0k during the year ending 06/2022. While expenses have increased by 3.3% per year over the past 6 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 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
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Thamel President & Director | OfficerTrustee | 2 | $0 |
Ronald Christensen Treasurer & Director | OfficerTrustee | 1 | $0 |
Kenneth Higney Director | Trustee | 0.5 | $0 |
Christina Higney Director | Trustee | 0.5 | $0 |
Lewis Iadarola Director | Trustee | 0.5 | $0 |
Rajab Khanbabai Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,567 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,567 |
| Total Program Service Revenue | $295,495 |
| Investment income | $3,064 |
| 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 | $306,251 |
| 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. | $500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $158,982 |
| Pension plan accruals and contributions | $10,629 |
| Other employee benefits | $0 |
| Payroll taxes | $12,337 |
| 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 | $7,540 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,513 |
| Travel | $12 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,786 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $21,045 |
| All other expenses | $6,832 |
| Total functional expenses | $325,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $332,447 |
| 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 |
| Net Land, buildings, and equipment | $236,779 |
| Investments—publicly traded securities | $237,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $806,258 |
| Accounts payable and accrued expenses | $21,552 |
| 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 | $41,980 |
| Total liabilities | $63,532 |
| Net assets without donor restrictions | $742,726 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $806,258 |