Mccord Memorial Library Association
- Assets
- $3.6m
- Revenue
- $534.7k
- Investments
- $28.5k
- Employees
- 13
- Location
- North East, PA
- Founding
- 01/1955
- Data as of
- 12/2022
- EIN
- 25-1021791
Organization Overview
Mccord Memorial Library Association is located in North East, PA. The organization was established in 1955. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2022, Mccord Memorial Library Association employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mccord Memorial 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 12/2022, Mccord Memorial Library Association generated $534.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $272.4k during the year ending 12/2022. While expenses have increased by 1.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCCORD MEMORIAL LIBRARY HAS SERVED THE COMMUNITY OF NORTH EAST FOR 100 YEARS. IT IS AN INDEPENDENT LIBRARY LOCATED IN ERIE COUNTY, PENNSYLVANIA. IT SERVES A COMMUNITY OF APPROXIMATELY 12,000 INHABITANTS, OF WHICH OVER 10,000 ARE ACTIVE LIBRARY PATRONS. ITS COLLECTION CONSISTS OF OVER 45,000 ITEMS, INCLUDING PRINT AND NON-PRINT ITEMS. THE LIBRARY HAS A GROWING COLLECTION OF AUDIO AND VIDEO TITLES, MUSIC CD'S AND COMPUTER SOFTWARE ITEMS FOR PATRON CHECK OUT. THE LIBRARY ALSO PROVIDES INTERNET ACCESS TO ITS PATRONS FREE OF CHARGE. FOR ITS SIZE, MCCORD MAINTAINS AN EXTENSIVE REFERENCE COLLECTION AND A STRONG LOCAL HISTORY COLLECTION. THEY SPONSOR SEVERAL JUVENILE STORY HOURS PER WEEK; DO EXTENSIVE COMMUNITY OUTREACH TO HEAD START, LOCAL PRESCHOOLS AND LOCAL PUBLIC AND PAROCHIAL SCHOOLS; AND PROVIDE EXTENSIVE SPECIAL JUVENILE PROGRAMMING TO PROMOTE LITERACY. MCCORD ALSO PROVIDES A FULL CALENDAR OF ADULT PROGRAMS. THEY DO SIGNIFICANT ON SITE AND PHONE REFERENCE SERVICES; PARTICIPATE IN ACCESS PA AND POWER ACCESS; WORK WITH THE AREA ADULT EDUCATION CENTER TO PROVED LITERACY VOLUNTEERS FOR THOSE WHO NEED THEM; AND PROVIDE COUNTLESS OTHER SERVICES TO THE RESIDENTS OF THE COMMUNITY. MCCORD IS AN IMPORTANT, VITAL AND INTEGRAL MEMBER OF THE NORTH EAST COMMUNITY, SERVING A VARIED CLIENTELE OF CHILDREN, STUDENTS AND ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorraine Benedict Vice President | OfficerTrustee | 1 | $0 |
Dennis Priester President | OfficerTrustee | 1 | $0 |
April Boyd Treasurer | OfficerTrustee | 1 | $0 |
Joyce Beardsley Secretary | OfficerTrustee | 1 | $0 |
Richard Bardol Trustee | Trustee | 1 | $0 |
Christina Eastbourn Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $192,775 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $234,675 |
| Total Program Service Revenue | $9,240 |
| Investment income | $56,543 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $226,298 |
| Net Income from Fundraising Events | $7,974 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $534,730 |
| 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 | $153,236 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,032 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,054 |
| Fees for services: Other | $0 |
| Advertising and promotion | $300 |
| Office expenses | $13,486 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,982 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $272,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,473 |
| Savings and temporary cash investments | $0 |
| 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 | $1,618,839 |
| Investments—publicly traded securities | $1,862,578 |
| Investments—other securities | $28,530 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,564,420 |
| Accounts payable and accrued expenses | $3,091 |
| 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 | $3,091 |
| Net assets without donor restrictions | $3,561,329 |
| 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 | $3,564,420 |