Lakewood Memorial Library
- Assets
- $1.1m
- Revenue
- $304.9k
- Investments
- $0.0
- Employees
- 8
- Location
- Lakewood, NY
- Founding
- 10/1968
- Data as of
- 12/2021
- EIN
- 16-6066036
Organization Overview
Lakewood Memorial Library is located in Lakewood, NY. The organization was established in 1968. As of 12/2021, Lakewood Memorial Library employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakewood Memorial 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, Lakewood Memorial Library generated $304.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $297.7k during the year ending 12/2021. While expenses have increased by 7.1% 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
LIBRARY FOR THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC LIBRARY WITH BOOKS, MAGAZINES AND PERIODICALS AVAILABLE FOR CIRCULATION TO THE GENERAL PUBLIC.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon M Taylor Library Dire | Officer | 40 | $48,541 |
Amy Anderson Trustee/v-Pr | OfficerTrustee | 1 | $0 |
Nancy Padak V-Pres/pres | OfficerTrustee | 1 | $0 |
Mary Seger Sec/trustee | OfficerTrustee | 1 | $0 |
Mary Mccague Pres/trustee | OfficerTrustee | 1 | $0 |
Carrie Cadwell Brown Sec (thru 6/ | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $166,802 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,394 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $211,196 |
| Total Program Service Revenue | $0 |
| Investment income | $9,645 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,850 |
| Net Income from Fundraising Events | $2,482 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $304,933 |
| 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. | $55,251 |
| Compensation of current officers, directors, key employees. | $7,183 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,684 |
| Pension plan accruals and contributions | $274 |
| Other employee benefits | $2,573 |
| Payroll taxes | $12,257 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,284 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $385 |
| Fees for services: Other | $4,030 |
| Advertising and promotion | $342 |
| Office expenses | $1,389 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,357 |
| 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 | $28,265 |
| Insurance | $1,194 |
| All other expenses | $1,416 |
| Total functional expenses | $297,692 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,208 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $60,000 |
| 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 | $597,421 |
| Investments—publicly traded securities | $383,669 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,081,298 |
| Accounts payable and accrued expenses | $2,969 |
| 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 | $2,969 |
| Net assets without donor restrictions | $1,017,217 |
| Net assets with donor restrictions | $61,112 |
| 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 | $1,081,298 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lakewood Memorial Library has recieved totaling $14,405.
| Awarding Organization | Amount |
|---|---|
Chautauqua-Cattaraugus Library System Jamestown, NY PURPOSE: MEMBER LIBRARY | $13,574 |
Ralph C Sheldon Foundation Inc Jamestown, NY PURPOSE: DIRECTOR/STAFF UNRESTRICTED GRANTS | $750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $81 |
Endowment Analysis
| Beg. Balance | $56,821 |
| Earnings | $4,291 |
| Ending Balance | $61,112 |
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 |