Ashaway Free Library
- Assets
- $874.6k
- Revenue
- $139.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Ashaway, RI
- Founding
- 07/1952
- Data as of
- 06/2021
- EIN
- 05-0274531
Organization Overview
Ashaway Free Library is located in Ashaway, RI. The organization was established in 1952. As of 06/2021, Ashaway Free Library employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ashaway 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 06/2021, Ashaway Free Library generated $139.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $148.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 7 years. 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 ENRICH THE COMMUNITY BY PROVIDING RESOURCES AND RELATED SERVICES AND PROGRAMMING FOR PERSONAL SKILLS, SELF-IMPROVEMENT, CAREER ADVANCEMENT, CULTURAL ENJOYMENT, ENTERTAINMENT , AND CREATIVE ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE COMPREHENSIVE LIBRARY SERVICES FOR THE COMMUNITY; JUVENILE AND ADULT EDUCATION PROGRAMS; INTER-LIBRARY AND INTERNET ACCESS AND SCHOOL SUPPORT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dezmarie Doyle Treasurer | OfficerTrustee | 2 | $0 |
Michelle Lussier Trustee | Trustee | 2 | $0 |
Cyndi Frackler Trustee | Trustee | 2 | $0 |
Gary Williams Trustee | Trustee | 2 | $0 |
Judy Cherenzia Trustee | Trustee | 2 | $0 |
Cassandra Dubrule Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,229 |
| Investment income | $17,126 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,790 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $139,629 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,702 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,591 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,181 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,233 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $180 |
| 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 | $7,758 |
| Insurance | $2,750 |
| All other expenses | $0 |
| Total functional expenses | $148,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,878 |
| 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 |
| Investments—publicly traded securities | $465,912 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,908 |
| Total assets | $874,632 |
| 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 | $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 | $874,632 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ashaway Free Library has recieved totaling $9,885.
| Awarding Organization | Amount |
|---|---|
The Champlin Foundation Pittsburgh, PA PURPOSE: ENTRYWAY REPAIRS AND SAFETY LIGHTING | $8,835 |
Ashaway Charitable Trust Westerly, RI PURPOSE: OPERATIONS | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL 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 |