Phillips Free Library
- Assets
- $3.3m
- Revenue
- $253.0k
- Investments
- $0.0
- Employees
- 12
- Location
- Homer, NY
- Founding
- 02/1943
- Data as of
- 06/2021
- EIN
- 15-0532226
Organization Overview
Phillips Free Library is located in Homer, NY. The organization was established in 1943. As of 06/2021, Phillips Free Library employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phillips 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 06/2021, Phillips Free Library generated $253.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $258.7k during the year ending 06/2021. While expenses have increased by 0.3% 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
THE LENDING OF READING MATERIALS AND OTHER ITEMS INCLUDED IN THE FINGER LAKES PUBLIC LIBRARY SYSTEM WHICH SERVICES THE LITERACY NEEDS OF THE HOMER NEW YORK AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBRARYS PRIMARY PURPOSE IS TO LEND BOOKS AND ALLOW COMPUTER ACCESS TO THE GENERAL PUBLIC FOR EDUCATION AND ENJOYMENT. IN 2008 AFTER SCHOOL PROGRAMS AND CLUBS WERE CREATED FOR CHILDREN, ADULTS AND TEENS. THE LIBRARY CONTINUED TO ADD TO THE BOOK COLLECTION TO PROVIDE INFORMATION EDUCATION AND ENTERTAINMENT TO OUR COMMUNITY. THE LIBRARY ALSO FORGED FURTHER ALLIANCES WITH THE SCHOOLS TO HELP COORDINATE LIBRARY PROGRAMS WITH THE SCHOOLS EDUCATIONAL MISSION. THE LIBRARY OFFERS SPECIAL READING ACTIVITIES FOR TARGETED GROUPS AS WELL AS BOOK DISCUSSION GROUPS TO PROMOTE LITERACY IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Willsey Secretary | OfficerTrustee | 1 | $0 |
Heather Slade Treasurer | OfficerTrustee | 1 | $0 |
Meghan Gilbert President | OfficerTrustee | 2 | $0 |
Bryn Carr Vice President | OfficerTrustee | 1 | $0 |
Shari Powers Trustee | Trustee | 1 | $0 |
Kelley Nadge Brown Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,254 |
| Investment income | $21,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $252,971 |
| 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. | $60,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,846 |
| Pension plan accruals and contributions | $3,277 |
| Other employee benefits | $0 |
| Payroll taxes | $10,032 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,134 |
| Information technology | $6,459 |
| Royalties | $0 |
| Occupancy | $34,383 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $398 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,589 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $258,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,082 |
| Savings and temporary cash investments | $208,155 |
| 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 |
| Investments—publicly traded securities | $2,165,469 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $291 |
| Other assets | $0 |
| Total assets | $3,251,202 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 | $3,251,202 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Phillips Free Library has recieved totaling $17,625.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Tompkins County Inc Ithaca, NY PURPOSE: GENERAL SUPPORT | $9,061 |
Central New York Community Foundation Inc Syracuse, NY PURPOSE: PROGRAM SUPPORT | $7,000 |
Ralph Wilkins Foundation Cortland, NY PURPOSE: SUMMER 2022 READING LEARNING PROGS | $1,200 |
Siegle Foundation Inc Homer, NY PURPOSE: CHARITABLE SUPPORT | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $114 |
Endowment Analysis
| Beg. Balance | $1,468,095 |
| Earnings | $697,374 |
| Ending Balance | $2,165,469 |
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 |