Clark Memorial Library
- Assets
- $545.7k
- Revenue
- $192.2k
- Investments
- $0.0
- Employees
- 8
- Location
- Carolina, RI
- Founding
- 08/1978
- Data as of
- 06/2022
- EIN
- 05-6011438
Organization Overview
Clark Memorial Library is located in Carolina, RI. The organization was established in 1978. As of 06/2022, Clark Memorial Library employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark Memorial 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 06/2022, Clark Memorial Library generated $192.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $190.6k during the year ending 06/2022. While expenses have increased by 2.3% 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
LIBRARY SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LIBRARY SERVICES TO THE COMMUNITY AND MEETING ROOMS FOR RESIDENTS OF THE TOWN OF RICHMOND, RHODE ISLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Thompson Director | Trustee | 25 | $38,207 |
Anthony L Gomez President | OfficerTrustee | 1 | $0 |
Dana Habershaw Treasurer | OfficerTrustee | 1 | $0 |
Kristen Chambers Secretary | OfficerTrustee | 1 | $0 |
Jane Rathbun Trustee | Trustee | 1 | $0 |
Matthew Gagner Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $136,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,910 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,098 |
| Total Program Service Revenue | $1,166 |
| Investment income | $5,984 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,645 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $2,315 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $192,208 |
| 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. | $38,183 |
| Compensation of current officers, directors, key employees. | $38,183 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,367 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,953 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,203 |
| Fees for services: Other | $2,004 |
| Advertising and promotion | $180 |
| Office expenses | $0 |
| Information technology | $7,863 |
| Royalties | $0 |
| Occupancy | $20,894 |
| 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 | $16,085 |
| Insurance | $3,199 |
| All other expenses | $222 |
| Total functional expenses | $190,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,719 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $25,000 |
| 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 | $568 |
| Net Land, buildings, and equipment | $141,483 |
| Investments—publicly traded securities | $311,294 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,602 |
| Total assets | $545,666 |
| Accounts payable and accrued expenses | $5,142 |
| 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 | $5,142 |
| Net assets without donor restrictions | $540,524 |
| 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 | $545,666 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Clark Memorial Library has recieved totaling $35,639.
| Awarding Organization | Amount |
|---|---|
Vera J Clark Irrev Trust Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $28,074 |
The Champlin Foundation Pittsburgh, PA PURPOSE: REMODEL CIRCULATION DESK | $7,565 |
Endowment Analysis
| Beg. Balance | $24,212 |
| Earnings | $1,420 |
| Admin Expense | $325 |
| Grants | $1,008 |
| Ending Balance | $24,299 |
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 |