Newport Public Library
- Assets
- $5.6m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 37
- Location
- Newport, RI
- Founding
- 12/1943
- Data as of
- 06/2021
- EIN
- 05-0262105
Organization Overview
Newport Public Library is located in Newport, RI. The organization was established in 1943. As of 06/2021, Newport Public Library employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newport Public 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 06/2021, Newport Public Library generated $2.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $2.6m during the year ending 06/2021. While expenses have increased by 0.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NEWPORT PUBLIC LIBRARY SEEKS TO STRENGTHEN THE COMMUNITY BY PROVIDING OPPORTUNITIES THST SUPPORT LIFE LONG LEARNING, INSPIRATION, IMMAGINATION, AND ENJOYMENT, AND CONNECT PEOPLE TO EACH OTHER AND TO THE REST OF THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A FREE LIBRARY TO THE GENERAL PUBLIC FOR EDUCATIONAL AND RECREATIONAL ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Logue Executive Director | Officer | 35 | $86,951 |
Stephen Waluk President | OfficerTrustee | 4 | $0 |
Brad Carter Vice President | OfficerTrustee | 4 | $0 |
Michael Dutton Treasurer | OfficerTrustee | 2 | $0 |
Adrienne Shaw Secrtary | OfficerTrustee | 2 | $0 |
Matthew Leys Immediate Past President | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,345,748 |
| All other contributions, gifts, grants, and similar amounts not included above | $122,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,468,399 |
| Total Program Service Revenue | $9,367 |
| Investment income | $250,670 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $15,568 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,744,004 |
| 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. | $86,951 |
| Compensation of current officers, directors, key employees. | $24,346 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,103,558 |
| Pension plan accruals and contributions | $318,844 |
| Other employee benefits | $0 |
| Payroll taxes | $88,227 |
| 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 | $1,136 |
| Office expenses | $19,720 |
| Information technology | $7,886 |
| Royalties | $0 |
| Occupancy | $158,891 |
| Travel | $2,442 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,849 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $394,218 |
| Insurance | $33,043 |
| All other expenses | $113,511 |
| Total functional expenses | $2,640,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,504 |
| Savings and temporary cash investments | $1,314,332 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,463 |
| 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 | $55,389 |
| Net Land, buildings, and equipment | $2,079,580 |
| Investments—publicly traded securities | $2,042,821 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,561,089 |
| Accounts payable and accrued expenses | $216,321 |
| Grants payable | $0 |
| Deferred revenue | $8,333 |
| 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 | $185,730 |
| Total liabilities | $410,384 |
| Net assets without donor restrictions | $5,084,517 |
| Net assets with donor restrictions | $66,188 |
| 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 | $5,561,089 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Newport Public Library has recieved totaling $99,087.
| Awarding Organization | Amount |
|---|---|
The Champlin Foundation Pittsburgh, PA PURPOSE: CARPET REPLACEMENT | $78,970 |
The Rhode Island Community Foundation Providence, RI PURPOSE: GENERAL OPERATING | $11,617 |
Van Beuren Charitable Foundation Inc New York, NY PURPOSE: OPERATING- GENERAL | $5,000 |
Long Wharf & Public Schools Trustees Newport, RI PURPOSE: OPERATIONS | $3,500 |
Endowment Analysis
| Beg. Balance | $544,470 |
| Earnings | $136,214 |
| Other Expense | $10,602 |
| Ending Balance | $670,082 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hartford Public Library Hartford, CT | $35,044,167 | $19,581,056 |
Westport Library Assoc Westport, CT | $27,522,269 | $7,094,016 |
Darien Library Inc Darien, CT | $29,008,924 | $5,931,772 |
Wilton Library Association Incorporated Wilton, CT | $11,356,788 | $3,701,367 |
Wallingford Public Library Assoc Wallingford, CT | $3,324,792 | $3,497,111 |
Farmington Village Green And Library Assoc Farmington, CT | $13,374,438 | $3,538,139 |
Ridgefield Library Association Inc Ridgefield, CT | $24,615,900 | $3,459,736 |
Memorial & Library Association Westerly, RI | $38,501,613 | $3,083,300 |
Newport Public Library Newport, RI | $5,561,089 | $2,744,004 |
Trustees Of The Forbes Library Northampton, MA | $10,232,224 | $2,847,127 |
North Of Boston Library Exchange Inc Danvers, MA | $2,577,569 | $2,501,521 |
Gloucester Lyceum And Sawyer Free Library Gloucester, MA | $8,720,959 | $2,330,297 |