Putnam Valley Free Library
- Assets
- $888.9k
- Revenue
- $466.8k
- Investments
- $0.0
- Employees
- 15
- Location
- Putnam Valley, NY
- Founding
- 05/1967
- Data as of
- 12/2021
- 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 12/2021, Putnam Valley Free Library employed 15 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 12/2021, Putnam Valley Free Library generated $466.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $474.8k during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 7 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
2021
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dede Farabaugh Director | Trustee | 40 | $42,440 |
John Faria Director | Trustee | 40 | $2,423 |
Terry Raskyn President | Officer | 10 | $0 |
Janet Dolot Vice President | Officer | 10 | $0 |
Marilyn Power Secretary | Officer | 10 | $0 |
Leslie Martin Treasurer | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $15 |
| Related organizations | $0 |
| Government grants | $418,498 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,059 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $449,572 |
| Total Program Service Revenue | $9,868 |
| Investment income | $7,408 |
| 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 | $466,848 |
| 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. | $44,863 |
| Compensation of current officers, directors, key employees. | $44,863 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $192,211 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,965 |
| Payroll taxes | $25,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $587 |
| Office expenses | $3,788 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $652 |
| 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 | $60,042 |
| Insurance | $11,042 |
| All other expenses | $50,617 |
| Total functional expenses | $474,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,154 |
| 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 | $0 |
| Net Land, buildings, and equipment | $468,587 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $174,190 |
| Total assets | $888,931 |
| Accounts payable and accrued expenses | $10,073 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $10,073 |
| Net assets without donor restrictions | $878,858 |
| 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 | $888,931 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Putnam Valley Free Library has recieved totaling $20,949.
| Awarding Organization | Amount |
|---|---|
David E Singer And Harriet Singer Charitable Tr Buffalo, NY PURPOSE: GENERAL OPERATING EXPENSES | $20,739 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $210 |
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 |