Franklin Township Public Library Association
- Assets
- $12.7m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 65
- Location
- Somerset, NJ
- Founding
- 05/1962
- Data as of
- 06/2023
- EIN
- 22-6017811
Organization Overview
Franklin Township Public Library Association is located in Somerset, NJ. The organization was established in 1962. As of 06/2023, Franklin Township Public Library Association employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Township Public Library Association 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, Franklin Township Public Library Association generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $3.5m during the year ending 06/2023. While expenses have increased by 2.0% per year over the past 8 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
PUBLIC LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC LIBRARY, SERVICING THE LOCAL COMMUNITY OF FRANKLIN TOWNSHIP, SOMERSET NJ
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
January Adams Executive Director | 40 | $144,435 | |
Michael Ferrante Adult Serv Head | 40 | $82,718 | |
Megan Ingegno Librarian | 40 | $78,142 | |
Amanda Helen Decker Branch Manager | 40 | $77,678 | |
Helen Imre Librarian | 40 | $70,500 | |
Nabil Choueiri Vice President | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,434,455 |
| 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 | $4,434,455 |
| Total Program Service Revenue | $52,540 |
| Investment income | $23,889 |
| 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 | $4,510,884 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,917,793 |
| Pension plan accruals and contributions | $78,942 |
| Other employee benefits | $0 |
| Payroll taxes | $144,527 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $807 |
| Fees for services: Accounting | $23,975 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,542 |
| Travel | $5,488 |
| 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 | $111,046 |
| Insurance | $36,238 |
| All other expenses | $222,456 |
| Total functional expenses | $3,493,418 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,245,001 |
| Savings and temporary cash investments | $393,531 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $328,500 |
| 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 | $45,022 |
| Net Land, buildings, and equipment | $5,633,110 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,016 |
| Total assets | $12,661,180 |
| Accounts payable and accrued expenses | $470,143 |
| 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 | $470,143 |
| Net assets without donor restrictions | $12,191,037 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,661,180 |