Mary Jacobs Memorial Library Foundation
- Assets
- $5.4m
- Revenue
- $94.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Rocky Hill, NJ
- Founding
- 02/1973
- Data as of
- 12/2023
- EIN
- 23-7259480
Organization Overview
Mary Jacobs Memorial Library Foundation is located in Rocky Hill, NJ. The organization was established in 1973. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mary Jacobs Memorial Library Foundation 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 12/2023, Mary Jacobs Memorial Library Foundation generated $94.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $273.5k during the year ending 12/2023. 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
THE MARY JACOBS FOUNDATION SUPPORTS PROJECTS THAT BENEFIT THE COMMUNITY, PARTICULARLY IN AREAS OF CREATIVITY, EDUCATION, SUSTAINABILITY, AND COMMUNITY ENGAGEMENT, AND TO CARRY OUT ITS WORK THROUGH THE MEDIUM OF OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AMOUNT INCLUDES EXPENSES FOR THE FOLLOWING: (1) SUPPLIES PURCHASED FOR USE BY THE LIBRARY, (2) FINANCIAL ASSISTANCE PROVIDED FOR COMMUNITY PROGRAMS OFFERED BY THE LIBRARY, (3) OPERATING AND MAINTENANCE EXPENSES ASSOCIATED WITH THE OWNERSHIP OF THE BUILDING, (4) PLANNING SESSIONS RELATED TO ADAPTATIONS FOR THE FUTURE, AND (5) RENOVATIONS TO THE INTERIOR SPACE OF THE BUILDING.
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 |
|---|---|---|---|
Cary Dawson President | OfficerTrustee | 5 | $0 |
Michelle Jacob Vice President | OfficerTrustee | 5 | $0 |
Smitha Parakkal Treasurer | OfficerTrustee | 5 | $0 |
Crissy Blanos Secretary | OfficerTrustee | 5 | $0 |
Rasheeda Pretto Trustee | Trustee | 1 | $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 | $5,055 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,055 |
| Total Program Service Revenue | $0 |
| Investment income | $75,218 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,695 |
| Net Income from Fundraising Events | $133 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $94,101 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $69 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $126,532 |
| Fees for services: Accounting | $8,786 |
| 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 | $926 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,988 |
| 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 | $106,222 |
| Insurance | $1,928 |
| All other expenses | $0 |
| Total functional expenses | $273,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,244 |
| Savings and temporary cash investments | $983 |
| Pledges and grants receivable | $5,000 |
| 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 | $2,359,184 |
| Investments—publicly traded securities | $3,055,403 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,435,814 |
| Accounts payable and accrued expenses | $64,680 |
| 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 | $64,680 |
| Net assets without donor restrictions | $1,955,997 |
| Net assets with donor restrictions | $3,415,137 |
| 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 | $5,435,814 |