Madison Public Library Inc
- Assets
- $8.2m
- Revenue
- $313.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, NJ
- Founding
- 10/1997
- Data as of
- 12/2021
- EIN
- 22-3505418
Organization Overview
Madison Public Library Inc is located in Madison, NJ. The organization was established in 1997. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Public 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, Madison Public Library Inc generated $313.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $234.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 7 years. 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
SUPPORT OF MADISON FREE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT AND MAINTENANCE OF THE FREE PUBLIC LIBRARY OF THE BOROUGH OF MADISON, A TAX EXEMPT ENTITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marilyn Favreau Library Director | OfficerTrustee | 0.1 | $0 |
David Luber Treasurer | OfficerTrustee | 0.3 | $0 |
Louise Easton Secretary | OfficerTrustee | 0.3 | $0 |
Thomas P Bintinger Chairman | OfficerTrustee | 0.3 | $0 |
Farley Moran President | OfficerTrustee | 0.3 | $0 |
Mayor Robert Conley Trustee | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,250 |
| Total Program Service Revenue | $0 |
| Investment income | $179,657 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $107,999 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $313,906 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $201,597 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $3,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,573 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $1,282 |
| All other expenses | $61 |
| Total functional expenses | $234,097 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $55,577 |
| 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 | $0 |
| Investments—publicly traded securities | $8,124,807 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,180,384 |
| Accounts payable and accrued expenses | $5,687 |
| 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 | $5,687 |
| Net assets without donor restrictions | $3,764,512 |
| Net assets with donor restrictions | $4,410,185 |
| 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 | $8,180,384 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Madison Public Library Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $5,000 |
Endowment Analysis
| Beg. Balance | $5,757,709 |
| Earnings | $662,918 |
| Admin Expense | $25,973 |
| Grants | $185,002 |
| Ending Balance | $6,209,652 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |