Montauk Library
- Assets
- $2.3m
- Revenue
- $856.5k
- Investments
- $0.0
- Employees
- 16
- Location
- Montauk, NY
- Founding
- 05/2017
- Data as of
- 06/2016
- EIN
- 11-2545188
Organization Overview
Montauk Library is located in Montauk, NY. The organization was established in 2017. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2015, Montauk Library employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montauk 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 06/2016, Montauk Library generated $856.5k in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $890.6k during the year ending 06/2016. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 2 years. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LIBRARY SERVICES AND PROGRAMS TO THE COMMUNITY OF MONTAUK, NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LIBRARY SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Rade Director | Officer | 42 | $91,553 |
Denise Dipaolo Director | Officer | 35 | $0 |
Joan Lycke President | Trustee | 2 | $0 |
Carmine Marino Jr Vice President | Trustee | 2 | $0 |
Lynda Bostrom Treasurer | Trustee | 2 | $0 |
Barbara Grimes Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $844,143 |
| Investment income | $1,761 |
| 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 | $856,504 |
| 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. | $106,146 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $322,212 |
| Pension plan accruals and contributions | $10,114 |
| Other employee benefits | $38,875 |
| Payroll taxes | $32,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,154 |
| Fees for services: Accounting | $16,610 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,058 |
| Advertising and promotion | $0 |
| Office expenses | $12,771 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,608 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,140 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,808 |
| Insurance | $31,634 |
| All other expenses | $9,034 |
| Total functional expenses | $890,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $534,618 |
| Savings and temporary cash investments | $426,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $129 |
| 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 | $47,283 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,300,261 |
| Accounts payable and accrued expenses | $21,827 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,291,880 |
| 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 | $21,827 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,278,434 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Montauk Library has recieved totaling $5,506.
| Awarding Organization | Amount |
|---|---|
Wd And Jg Mccoy Family Foundation Inc Greenwich, CT PURPOSE: LIBRARY | $3,000 |
Ralph And Ricky Lauren Family Foundation Inc New York, NY PURPOSE: CHARITABLE CONTRIBUTION | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $6 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carnegie Library Of Pittsburgh Pittsburgh, PA | $129,763,715 | $43,541,952 |
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 |
Allegheny County Library Assoc Pittsburgh, PA | $1,615,297 | $12,970,956 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
The Free Library Of Philadelphia Philadelphia, PA | $55,485,474 | $14,690,366 |
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 |