New Haven Free Public Library Foundation Inc
- Assets
- $2.1m
- Revenue
- $833.5k
- Investments
- $0.0
- Employees
- 2
- Location
- New Haven, CT
- Founding
- 07/1990
- Data as of
- 06/2021
- EIN
- 06-1283798
Organization Overview
New Haven Free Public Library Foundation Inc is located in New Haven, CT. The organization was established in 1990. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2021, New Haven Free Public Library Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Haven Free Public Library Foundation Inc 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, New Haven Free Public Library Foundation Inc generated $833.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.7% each year . All expenses for the organization totaled $755.2k during the year ending 06/2021. While expenses have increased by 23.8% 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
TO WORK COLLABORATIVELY WITH THE NEW HAVEN FREE PUBLIC LIBRARY TO RAISE FUNDS TO SUPPORT MAJOR INITIATIVES AND INNOVATIVE PROJECTS THAT ENHANCE THE SERVICES OF THE LIBRARY TO THE RESIDENTS OF NEW HAVEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE NEW HAVEN FREE PUBLIC LIBRARY FOUNDATION IS TO RAISE FUNDS--GENERAL OPERATING, PROJECT-SPECIFIC FUNDING, AND ENDOWMENT--ON BEHALF OF THE NEW HAVEN FREE PUBLIC LIBRARY. THESE FUNDS ARE PERIODICALLY TRANSFERRED FROM THE FOUNDATION TO THE LIBRARY TO PROVIDE RESOURCES TO HELP THE LIBRARY IMPROVE ITS COLLECTION OF PRINT AND ONLINE RESOURCES; DELIVER CRUCIAL COMMUNITY SERVICES AND PROGRAMS TO THE ENTIRE CITY OF NEW HAVEN; PROVIDE SUPPORT FOR STRATEGIC PRIORITIES AND PROJECTS; AND SUSTAIN THE PUBLIC LIBRARY AS A FREE AND DEMOCRATIC INSTITUTION FOR FUTURE GENERATIONS. THE NEW HAVEN FREE PUBLIC LIBRARY FOUNDATION PROMOTES THE WORK OF THE LIBRARY, BUILDS COMMUNITY SUPPORT, AND PROVIDES OVERSIGHT AND STEWARDSHIP OF CONTRIBUTED FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Morand President | OfficerTrustee | 1 | $0 |
Mary Ellen Savage Vice President | OfficerTrustee | 0 | $0 |
Sean Koehler Treasurer | OfficerTrustee | 0 | $0 |
Edward C Harris Director | Trustee | 0 | $0 |
Fran Detoro Director | Trustee | 0 | $0 |
Patricia F Brett Edd Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $146,730 |
| All other contributions, gifts, grants, and similar amounts not included above | $627,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $773,800 |
| Total Program Service Revenue | $0 |
| Investment income | $23,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $36,534 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $833,545 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $656,902 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,980 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,710 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,819 |
| Advertising and promotion | $0 |
| Office expenses | $1,923 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $2,132 |
| All other expenses | $0 |
| Total functional expenses | $755,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,134,533 |
| 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 | $570 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,135,103 |
| 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 | $177,036 |
| Net assets with donor restrictions | $1,958,067 |
| 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 | $2,135,103 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that New Haven Free Public Library Foundation Inc has recieved totaling $90,364.
| Awarding Organization | Amount |
|---|---|
Economic Development Corporation Of New Haven New Haven, CT PURPOSE: To serve as a catalyst for attracting human and capital investment to the city and its neighborhoods. | $89,306 |
The Risc Foundation Inc New Haven, CT PURPOSE: PROGRAM SUPPORT | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $58 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pierpont Morgan Library New York, NY | $416,332,166 | $59,153,120 |
Rochester Public Library Rochester, NY | $13,709,813 | $21,920,405 |
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
Publishers International Linking Association Inc Lynnfield, MA | $16,437,833 | $11,352,834 |
Springfield Museums Corporation Springfield, MA | $83,263,430 | $9,886,411 |
Providence Public Library Providence, RI | $36,987,936 | $6,478,555 |