Libraries Online Incorporated
- Assets
- $1.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Middletown, CT
- Founding
- 06/1982
- Data as of
- 06/2022
- EIN
- 06-1057542
Organization Overview
Libraries Online Incorporated is located in Middletown, CT. The organization was established in 1982. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2022, Libraries Online Incorporated employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Libraries Online Incorporated 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, Libraries Online Incorporated generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 2.8% per year over the past 8 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
COMPUTER NETWORK SERVING MEMBER LIBRARIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION IS A CONSORTIUM OF LIBRARY INSTITUTIONS COMMITTED TO THE PROMOTION AND EXTENSION OF QUALITY LIBRARY RESOURCES AND SERVICES. THROUGH SHARED TECHNOLOGY LION PROVIDES ITS MEMBERS AND THEIR USERS WITH COST-EFFECTIVE AUTOMATED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Farara Joseph Executive Director | Officer | 40 | $106,210 |
Gardner Andrew Associate Director | Officer | 40 | $105,299 |
Alvord Elizabeth Director | Trustee | 2 | $0 |
Bailie Colleen Director | Trustee | 2 | $0 |
Bogel Gayle Director | Trustee | 2 | $0 |
Brouwer Amanda Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,366,847 |
| Investment income | $691 |
| 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 | $1,376,416 |
| 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. | $211,509 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $373,205 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $86,450 |
| Payroll taxes | $46,511 |
| 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 | $20,209 |
| Advertising and promotion | $0 |
| Office expenses | $5,134 |
| Information technology | $9,620 |
| Royalties | $0 |
| Occupancy | $28,071 |
| Travel | $11,114 |
| 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 | $41,497 |
| Insurance | $17,058 |
| All other expenses | $0 |
| Total functional expenses | $1,392,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $900,219 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,447 |
| 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 | $45,633 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $1,053,575 |
| Accounts payable and accrued expenses | $63,853 |
| Grants payable | $0 |
| Deferred revenue | $57,532 |
| 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 | $121,385 |
| Net assets without donor restrictions | $932,190 |
| 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 | $932,190 |