Friends Of The Newton Free Library
- Assets
- $128.3k
- Revenue
- $219.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Newton, MA
- Founding
- 02/1980
- Data as of
- 06/2020
- EIN
- 04-2691337
Organization Overview
Friends Of The Newton Free Library is located in Newton, MA. The organization was established in 1980. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Friends Of The Newton Free 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 06/2020, Friends Of The Newton Free Library generated $219.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $136.1k during the year ending 06/2020. While expenses have increased by 11.4% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND SUPPORT THE NEWTON FREE LIBRARY'S PROGRAMS, RESOURCES, FUNCTIONS AND SERVICES AND FURTHER TO INITIATE ACTIVITIES TO ENHANCE COMMUNITY AWARENESS OF LITERARY, ARTISTIC, AND CULTURAL PROGRAMS AT THE LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1ST YEAR GRANT FOR DIGITAL BOOK SERVICES AT THE LIBRARY
REMAINING PORTION OF GRANT IN FY19 FOR RENOVATION OF THE LIBRARY'S ATRIUM WORK
ANNUAL GENERAL GIFT TO THE LIBRARY
OTHER PROGRAM SERVICES: DONATIONS FOR LIBRARY TRUSTEES, REVENUE FROM SALES OF USED BOOKS, GIFTS FOR CHILDREN'S ROOM ACTIVITIES, GIFTS FOR TEEN ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Northrup Vice President | Officer | 1 | $0 |
Nancy Grissom President | Officer | 4 | $0 |
Marjorie Orr Treasurer | Officer | 2 | $0 |
Stephen Tassone Secretary | Officer | 1 | $0 |
Ann Belanger Director | Trustee | 1 | $0 |
Sheila Levitan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $21,124 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $177,320 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $198,444 |
| Total Program Service Revenue | $21,014 |
| Investment income | $36 |
| 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 | $219,494 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $132,286 |
| 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 | $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 | $590 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $136,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,309 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $128,309 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $28,309 |
| Net assets with donor restrictions | $100,000 |
| 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 | $128,309 |
Grants Awarded
Over the last fiscal year, Friends Of The Newton Free Library has awarded $128,287 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
NEWTON FREE LIBRARY PURPOSE: DIGITAL BOOK SERVICES | $50,000 |
NEWTON FREE LIBRARY PURPOSE: ATRIUM RENOVATION | $21,561 |
NEWTON FREE LIBRARY PURPOSE: GENERAL ANNUAL GIFT | $20,000 |
NEWTON FREE LIBRARY PURPOSE: GIFTS FOR LIBRARY TRUSTEES | $14,675 |
NEWTON FREE LIBRARY PURPOSE: USED BOOK SALES REVENUE | $13,051 |
NEWTON FREE LIBRARY PURPOSE: CHILDREN'S ROOM | $9,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Friends Of The Newton Free Library has recieved totaling $18,650.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $11,150 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $5,500 |
Devonwood Foundation Wilmington, DE PURPOSE: GENERAL OPERATING EXPENSES | $1,000 |
Sharp Charitable Tr Newton, MA PURPOSE: UNRESTRICTED | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University Of Connecticut Foundation Incorporated Storrs, CT | $744,628,423 | $150,826,250 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Trustees For Harvard University Cambridge, MA | $1,524,141,919 | $57,204,982 |
The University Of Rhode Island Foundation & Alumni Engagement Kingston, RI | $283,152,721 | $40,864,874 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
University Of New Hampshire Foundation Incorporated Durham, NH | $251,217,834 | $34,299,189 |
Harvard Private Capital Realty Inc Boston, MA | $2,527,458,180 | $415,073,812 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Massachusetts Foundation Inc Boston, MA | $842,030,994 | $57,111,837 |