Locust Valley Library
- Assets
- $4.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 25
- Location
- Locust Valley, NY
- Founding
- 11/1965
- Data as of
- 06/2022
- EIN
- 11-1797178
Organization Overview
Locust Valley Library is located in Locust Valley, NY. The organization was established in 1965. As of 06/2022, Locust Valley Library employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Locust Valley 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, Locust Valley Library generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. 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
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 |
|---|---|---|---|
Kathleen Smith Director | 35 | $86,641 | |
Kerian Carlstrom President | OfficerTrustee | 5 | $0 |
Jennifer Bonislawski Treasurer | OfficerTrustee | 5 | $0 |
Amy Tansill Vice President | OfficerTrustee | 5 | $0 |
Frances Zambuto Secretary | OfficerTrustee | 5 | $0 |
Ann Miles Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,515,445 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,815 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,536,260 |
| Total Program Service Revenue | $72,820 |
| Investment income | $37,456 |
| 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 | $1,646,536 |
| 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. | $86,641 |
| Compensation of current officers, directors, key employees. | $86,641 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $768,150 |
| Pension plan accruals and contributions | $61,967 |
| Other employee benefits | $314,642 |
| Payroll taxes | $62,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,981 |
| Fees for services: Accounting | $13,578 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,130 |
| Fees for services: Other | $16,921 |
| Advertising and promotion | $0 |
| Office expenses | $13,551 |
| Information technology | $5,499 |
| Royalties | $0 |
| Occupancy | $88,585 |
| Travel | $45 |
| 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 | $75,391 |
| Insurance | $26,821 |
| All other expenses | $10,358 |
| Total functional expenses | $1,766,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $275 |
| Savings and temporary cash investments | $1,931,538 |
| 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 | $7,899 |
| Net Land, buildings, and equipment | $1,417,263 |
| Investments—publicly traded securities | $550,535 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $512,319 |
| Total assets | $4,419,829 |
| Accounts payable and accrued expenses | $58,095 |
| Grants payable | $0 |
| Deferred revenue | $36,701 |
| 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 | $2,937,935 |
| Total liabilities | $3,032,731 |
| 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 | $1,417,263 |
| Retained earnings, endowment, accumulated income, or other funds | -$30,165 |
| Total liabilities and net assets/fund balances | $4,419,829 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Locust Valley Library has recieved totaling $2,512.
| Awarding Organization | Amount |
|---|---|
The Phffoundation Inc Old Greenwich, CT PURPOSE: GENERAL PURPOSE | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Endowment Analysis
| Beg. Balance | $334,784 |
| Net Contributions | $20,018 |
| Ending Balance | $354,802 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hartford Public Library Hartford, CT | $35,044,167 | $19,581,056 |
Great Neck Library Great Neck, NY | $34,961,861 | $11,637,861 |
Westport Library Assoc Westport, CT | $27,522,269 | $7,094,016 |
Oceanside Library Oceanside, NY | $46,476,817 | $6,978,242 |
Darien Library Inc Darien, CT | $29,008,924 | $5,931,772 |
Connetquot Public Library Bohemia, NY | $10,940,573 | $6,656,257 |
Crandall Library Glens Falls, NY | $18,989,283 | $4,650,669 |
Bryant Library Roslyn, NY | $10,311,911 | $5,190,176 |
Port Jefferson Free Library Port Jefferson, NY | $14,577,531 | $4,685,963 |
Riverhead Free Library Riverhead, NY | $9,623,554 | $4,087,006 |
Wilton Library Association Incorporated Wilton, CT | $11,356,788 | $3,701,367 |
Bergen County Cooperative Library System Inc Fair Lawn, NJ | $2,010,518 | $3,727,342 |