Cortland Free Library Inc
- Assets
- $5.9m
- Revenue
- $777.4k
- Investments
- $0.0
- Employees
- 52
- Location
- Cortland, NY
- Founding
- 06/1944
- Data as of
- 12/2021
- EIN
- 15-0569362
Organization Overview
Cortland Free Library Inc is located in Cortland, NY. The organization was established in 1944. As of 12/2021, Cortland Free Library Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cortland Free Library Inc 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, Cortland Free Library Inc generated $777.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $651.2k during the year ending 12/2021. While expenses have increased by 4.3% 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
PROVIDING INFORMATION, MATERIALS, AND PROGRAMS THAT EDUCATE, INSPIRE, ENRICH, ENTERTAIN AND INFORM; PROMOTING THE TOOLS, SKILLS, AND TECHNIQUES FOR LITERACY DEVELOPMENT, LANGUAGE SKILL ACQUISITION, LIFELONG LEARNING, RECREATION, AND RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSOCIATION LIBRARY SERVICES AND PROGRAMS PROVIDED, INCLUDING THE LOAN OF APPROXIMATELY 90,000 CATALOGUED ITEMS TO 9,800 REGISTERED BORROWERS IN THE LOCAL AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammy Sickmon Acting Director | Officer | 37.5 | $50,425 |
Vivian Bosch Secretary | OfficerTrustee | 0 | $0 |
Dr Mark Martin Finance Officer | OfficerTrustee | 0 | $0 |
John Hoeschele President | OfficerTrustee | 0 | $0 |
Lauren Mossotti-Kline Vice President | OfficerTrustee | 0 | $0 |
Kathleen Hennessy Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $491,719 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $526,919 |
| Total Program Service Revenue | $12,801 |
| Investment income | $73,293 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $161,168 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $777,444 |
| 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. | $50,425 |
| Compensation of current officers, directors, key employees. | $5,042 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $251,618 |
| Pension plan accruals and contributions | $28,505 |
| Other employee benefits | $25,625 |
| Payroll taxes | $21,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,735 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,740 |
| Travel | $0 |
| 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 | $72,987 |
| Insurance | $17,694 |
| All other expenses | $4,583 |
| Total functional expenses | $651,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $267,336 |
| Savings and temporary cash investments | $3,146 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $226,862 |
| 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 | $1,936,257 |
| Investments—publicly traded securities | $3,492,312 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $11,765 |
| Other assets | $1 |
| Total assets | $5,937,679 |
| Accounts payable and accrued expenses | $1,610 |
| 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 | $11,989 |
| Total liabilities | $13,599 |
| Net assets without donor restrictions | $4,338,803 |
| Net assets with donor restrictions | $1,585,277 |
| 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 | $5,937,679 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Cortland Free Library Inc has recieved totaling $43,721.
| Awarding Organization | Amount |
|---|---|
Finger Lakes Library Systems Ithaca, NY PURPOSE: LLSA, CARES ACT, SPEC LEGIS GTS | $16,126 |
Cortland Community Foundation Cortland, NY PURPOSE: General Gift | $14,010 |
Community Foundation Of Tompkins County Inc Ithaca, NY PURPOSE: GENERAL SUPPORT | $13,459 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $126 |
Endowment Analysis
| Beg. Balance | $3,027,086 |
| Earnings | $540,781 |
| Net Contributions | $30,165 |
| Other Expense | $105,720 |
| Ending Balance | $3,492,312 |
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 |