Norwalk Public Library Foundationinc
- Assets
- $1.3m
- Revenue
- $50.0k
- Investments
- $1.2m
- Employees
- 0
- Location
- Norwalk, CT
- Founding
- 01/2010
- Data as of
- 06/2021
- EIN
- 26-0376450
Organization Overview
Norwalk Public Library Foundationinc is located in Norwalk, CT. The organization was established in 2010. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Norwalk Public Library Foundationinc 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 06/2021, Norwalk Public Library Foundationinc generated $50.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (34.4%) each year. All expenses for the organization totaled $16.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (24.5%) per year over the past 6 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
TO SOLICIT, RECEIVE AND ADMINISTER FUNDS DEVOTED TO SUCH LITERARY, EDUCATIONAL, AND PUBLIC INITIATIVES FOR THE BENEFIT OF THE NORWALK PUBLIC LIBRARY SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN ENDOWMENT TO PROVIDE MATERIALS AND SERVICES TO THE NORWALK PUBLIC LIBRARY SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patsy Brescia Vice Preside | OfficerTrustee | 1 | $0 |
Jannie Williams Treasurer | OfficerTrustee | 1 | $0 |
Alex Knopp President | OfficerTrustee | 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 | $17,936 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,936 |
| Total Program Service Revenue | $0 |
| Investment income | $10,743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,353 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,032 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,518 |
| Office expenses | $915 |
| 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 | $167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $675 |
| All other expenses | $617 |
| Total functional expenses | $15,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,761 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,246,824 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,276,585 |
| Accounts payable and accrued expenses | $0 |
| 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 | $396 |
| Total liabilities | $396 |
| Net assets without donor restrictions | $230,012 |
| Net assets with donor restrictions | $1,046,177 |
| 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 | $1,276,585 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Norwalk Public Library Foundationinc has recieved totaling $8,500.
| Awarding Organization | Amount |
|---|---|
Maurice Goodman Foundation Inc Tr Tax 1a-4-078 Norwalk, CT PURPOSE: CHARITABLE | $8,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |
Suny Impact Foundation Inc New York, NY | $1,805,430 | $8,847,404 |
Poughkeepsie Public School Teachers Asso Trust Fund Poughkeepsie, NY | $14,239,734 | $11,580,276 |
Meged Shomayim Airmont, NY | $573,750 | $8,461,954 |
Nli Usa Inc New York, NY | $11,341,396 | $10,639,057 |
Excellence Community Schools Inc Bronx, NY | $14,097,138 | $10,250,785 |
Futures In Education Brooklyn, NY | $11,663,497 | $8,970,011 |
National Center For Hebrew Language Charter School Excellence New York, NY | $4,301,333 | $7,260,290 |
Mccarton Foundation For Developmental Disabilities Inc Bronx, NY | $2,852,729 | $6,603,484 |
Prospect Schools Inc Brooklyn, NY | $3,261,917 | $6,213,918 |
Friends Of@brooklyn Laboratory Charter Schools Inc Brooklyn, NY | $20,397,240 | $6,569,238 |
Friends Of@prospect Schools Ny Inc Brooklyn, NY | $3,486,838 | $6,161,838 |