Putnam Valley Free Library
- Assets
- $1.1m
- Revenue
- $247.4k
- Investments
- $0.0
- Employees
- 18
- Location
- Putnam Valley, NY
- Founding
- 05/1967
- Data as of
- 06/2023
- EIN
- 14-1495553
Organization Overview
Putnam Valley Free Library is located in Putnam Valley, NY. The organization was established in 1967. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2022, Putnam Valley Free Library employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Putnam Valley 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 06/2023, Putnam Valley Free Library generated $247.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $248.4k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (7.0%) per year over the past 6 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
2023
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 FOR THE PUTNAM VALLEY AREA
PROVIDE LIBRARY SERVICES FOR THE PUTNAM VALLEY AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Faria Director | Trustee | 40 | $29,577 |
Katherine Reilly Director | Trustee | 40 | $26,048 |
Cori Madrid Trustee | Trustee | 0 | $0 |
Elizabeth Appel Trustee | Trustee | 0 | $0 |
Ginger Lefurgy Trustee | Trustee | 0 | $0 |
Jodi Carlson Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,565 |
| Related organizations | $0 |
| Government grants | $198,526 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,731 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $217,822 |
| Total Program Service Revenue | $1,499 |
| Investment income | $8,863 |
| 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 | $247,434 |
| 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. | $34,250 |
| Compensation of current officers, directors, key employees. | $34,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $82,129 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $316 |
| Payroll taxes | $13,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,416 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $221 |
| Office expenses | $1,274 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $56 |
| 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 | $26,608 |
| Insurance | $5,508 |
| All other expenses | $39,042 |
| Total functional expenses | $248,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $450,295 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $8,727 |
| Net Land, buildings, and equipment | $435,159 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $157,515 |
| Total assets | $1,051,696 |
| Accounts payable and accrued expenses | $8,555 |
| Grants payable | $173,825 |
| Deferred revenue | $77,558 |
| 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 | $259,938 |
| Net assets without donor restrictions | $791,758 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,051,696 |