Locust Valley Library
- Assets
- $4.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 28
- Location
- Locust Valley, NY
- Founding
- 11/1965
- Data as of
- 06/2024
- EIN
- 11-1797178
Organization Overview
Locust Valley Library is located in Locust Valley, NY. The organization was established in 1965. As of 06/2024, Locust Valley Library employed 28 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 06/2024, Locust Valley Library generated $1.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.7m during the year ending 06/2024. While expenses have increased by 0.5% per year over the past 5 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 |
|---|---|---|---|
Jenny Bloom Director | 35 | $105,915 | |
Ann Miles Trustee | Trustee | 5 | $0 |
Kerian Carlstrom President | OfficerTrustee | 5 | $0 |
Jennifer Bonislawski Treasurer | OfficerTrustee | 5 | $0 |
Marco Lombardini Trustee | Trustee | 5 | $0 |
Amy Tansill Vice President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,659,635 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,661 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,674,296 |
| Total Program Service Revenue | $80,793 |
| Investment income | $77,120 |
| 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 | $1,832,209 |
| 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. | $105,915 |
| Compensation of current officers, directors, key employees. | $105,915 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $772,029 |
| Pension plan accruals and contributions | $57,261 |
| Other employee benefits | $251,308 |
| Payroll taxes | $65,585 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,475 |
| Fees for services: Accounting | $12,243 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,197 |
| Fees for services: Other | $15,969 |
| Advertising and promotion | $0 |
| Office expenses | $17,888 |
| Information technology | $5,697 |
| Royalties | $0 |
| Occupancy | $62,006 |
| Travel | $954 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $250 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,458 |
| Insurance | $29,136 |
| All other expenses | $8,924 |
| Total functional expenses | $1,720,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $275 |
| Savings and temporary cash investments | $1,865,566 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,290 |
| 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 | $10,744 |
| Net Land, buildings, and equipment | $1,553,843 |
| Investments—publicly traded securities | $688,725 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,880 |
| Other assets | $351,967 |
| Total assets | $4,485,290 |
| Accounts payable and accrued expenses | $50,375 |
| Grants payable | $0 |
| Deferred revenue | $41,191 |
| 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 | $2,862,642 |
| Total liabilities | $2,954,208 |
| 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 | $1,553,843 |
| Retained earnings, endowment, accumulated income, or other funds | -$22,761 |
| Total liabilities and net assets/fund balances | $4,485,290 |