Portsmouth Free Public Library Association
- Assets
- $645.8k
- Revenue
- $806.3k
- Investments
- $0.0
- Employees
- 17
- Location
- Portsmouth, RI
- Founding
- 05/1976
- Data as of
- 06/2022
- EIN
- 05-0263385
Organization Overview
Portsmouth Free Public Library Association is located in Portsmouth, RI. The organization was established in 1976. As of 06/2022, Portsmouth Free Public Library Association employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portsmouth Free Public 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, Portsmouth Free Public Library Association generated $806.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $753.1k during the year ending 06/2022. While expenses have increased by 0.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FREE PUBLIC LIBRARY IS TO SERVE THE COMMUNITY BY PROVIDING LIBRARY SERVICES TO MEET THE INFORMATIONAL, EDUCATIONAL AND RECREATIONAL NEEDS OF THE TOWN'S RESIDENTS WITH A VARIETY OF MATERIALS, PROGRAMS, SERVICES AND FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE MEET OUR SERVICE GOAL OF PROVIDING THE COMMUNITY WITH PROGRAMMING, EDUCATIONAL AND LITERACY OPTIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Magnus Library Director | Officer | 40 | $69,105 |
Michael W Mello President | Officer | 15 | $0 |
David Miller Vice President | Officer | 2 | $0 |
Gretchen Markert Secretary | Officer | 3 | $0 |
Carol Decosta Treasurer | Officer | 2 | $0 |
Ann Mcdonald Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $39,545 |
| Membership dues | $6,000 |
| Fundraising events | $13,760 |
| Related organizations | $0 |
| Government grants | $656,473 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,662 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $791,440 |
| Total Program Service Revenue | $2,668 |
| Investment income | $12,178 |
| 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 | $806,286 |
| 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. | $69,105 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $325,158 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,949 |
| Payroll taxes | $31,172 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,315 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $169,680 |
| Advertising and promotion | $0 |
| Office expenses | $7,761 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $87,648 |
| Travel | $338 |
| 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 | $753,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $278,641 |
| 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 | $367,106 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $645,847 |
| 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 | $590,847 |
| Net assets with donor restrictions | $55,000 |
| 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 | $645,847 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Portsmouth Free Public Library Association has recieved totaling $1,009.
| Awarding Organization | Amount |
|---|---|
North Family Trust Robert Cummings Margaret Hogan Newport, RI PURPOSE: FUNDING FOR ADULT EDUCATION AND CULTURAL PROGRAM | $750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $109 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50 |
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 |