Minuteman Library Network Inc
- Assets
- $2.4m
- Revenue
- $4.1m
- Investments
- $265.8k
- Employees
- 14
- Location
- Natick, MA
- Founding
- 03/1987
- Data as of
- 06/2023
- EIN
- 22-2518058
Organization Overview
Minuteman Library Network Inc is located in Natick, MA. The organization was established in 1987. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2023, Minuteman Library Network Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minuteman Library Network 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 06/2023, Minuteman Library Network Inc generated $4.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $4.0m during the year ending 06/2023. While expenses have increased by 9.0% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BETTER LIBRARY COMMUNICATION THROUGH COMPUTER TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BETTER SERVICE IN LIBRARY COMMUNICATION THROUGH COMPUTER TECHNOLOGY. THE ORGANIZATION SUPPORTS SEVERAL TOWN AND COLLEGE MEMBER LIBRARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamie Jurgensen Director | Trustee | 2 | $0 |
Esme Green Treasurer | OfficerTrustee | 2 | $0 |
Richard Callaghan Past President | Trustee | 2 | $0 |
Lena Kilburn Director | Trustee | 2 | $0 |
Tina Mcandrew Director | Trustee | 2 | $0 |
Jill Mercurio Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $735,223 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $735,223 |
| Total Program Service Revenue | $2,004,687 |
| Investment income | $27,641 |
| 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 | $4,058,457 |
| 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. | $248,272 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,166,930 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,564 |
| 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 | $16,011 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $197,107 |
| 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 | $50,889 |
| Insurance | $0 |
| All other expenses | $94,575 |
| Total functional expenses | $3,966,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,300 |
| Savings and temporary cash investments | $1,583,247 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $396 |
| 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 | $32,254 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $265,768 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $372,951 |
| Total assets | $2,423,916 |
| Accounts payable and accrued expenses | $126,970 |
| 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 | $372,058 |
| Total liabilities | $499,028 |
| Net assets without donor restrictions | $1,913,273 |
| Net assets with donor restrictions | $11,615 |
| 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 | $2,423,916 |