Southold Free Library
- Assets
- $4.8m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 17
- Location
- Southold, NY
- Founding
- 04/1989
- Data as of
- 06/2024
- EIN
- 11-1675859
Organization Overview
Southold Free Library is located in Southold, NY. The organization was established in 1989. As of 06/2024, Southold Free Library employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southold 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 06/2024, Southold Free Library generated $1.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.2m during the year ending 06/2024. While expenses have increased by 1.3% per year over the past 4 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LIBRARY SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LIBRARY SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Macarthur Director | 35 | $111,211 | |
James Roth Vice President | OfficerTrustee | 10 | $0 |
Camille Broussard Trustee | Trustee | 10 | $0 |
Priscilla Reilly Treasurer | OfficerTrustee | 10 | $0 |
Lisa Davidoff President | OfficerTrustee | 10 | $0 |
Nick Colon Trustee | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,168,685 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,992 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,210,677 |
| Total Program Service Revenue | $4,696 |
| Investment income | $37,107 |
| 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 | $1,252,480 |
| 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. | $111,211 |
| Compensation of current officers, directors, key employees. | $11,010 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $393,575 |
| Pension plan accruals and contributions | $15,473 |
| Other employee benefits | $80,163 |
| Payroll taxes | $38,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,750 |
| Advertising and promotion | $0 |
| Office expenses | $14,463 |
| Information technology | $12,187 |
| Royalties | $0 |
| Occupancy | $99,021 |
| Travel | $3,142 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,426 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $157,901 |
| Insurance | $18,546 |
| All other expenses | $37,182 |
| Total functional expenses | $1,201,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $222,684 |
| Savings and temporary cash investments | $1,387,768 |
| Pledges and grants receivable | $97,946 |
| 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 | $13,338 |
| Net Land, buildings, and equipment | $3,042,706 |
| Investments—publicly traded securities | $14,441 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,778,883 |
| Accounts payable and accrued expenses | $57,216 |
| Grants payable | $0 |
| Deferred revenue | $7,186 |
| 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 | $64,402 |
| 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 | $3,042,706 |
| Retained earnings, endowment, accumulated income, or other funds | $1,671,775 |
| Total liabilities and net assets/fund balances | $4,778,883 |