Tiverton Library Foundation Inc
- Assets
- $388.7k
- Revenue
- $31.5k
- Investments
- $283.7k
- Employees
- 0
- Location
- Tiverton, RI
- Founding
- 03/2009
- Data as of
- 12/2021
- EIN
- 26-0479052
Organization Overview
Tiverton Library Foundation Inc is located in Tiverton, RI. The organization was established in 2009. 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. Tiverton Library Foundation 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, Tiverton Library Foundation Inc generated $31.5k 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 (27.0%) each year. All expenses for the organization totaled $16.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (20.7%) 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
TO SECURE CONTRIBUTIONS TO HELP SUPPORT THE OPERATIONAL & CAPITAL NEEDS OF THE TIVERTON LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MAJOR PROJECT IN 2021 WAS THE LIBRARY SECURITY CAMERAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen Browning Secretary | OfficerTrustee | 2 | $0 |
Stuart Gilfillen Chair | OfficerTrustee | 4 | $0 |
Joyce Dunagan Treasurer | OfficerTrustee | 2 | $0 |
Donna W Edwards Board Member | Trustee | 2 | $0 |
Catherine Damiani Board Member | Trustee | 2 | $0 |
Kim Sutherland Board Member | Trustee | 2 | $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 | $31,449 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,449 |
| Total Program Service Revenue | $0 |
| Investment income | $36 |
| 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 | $31,485 |
| 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 | $750 |
| 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 | $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 | $1,464 |
| All other expenses | $47 |
| Total functional expenses | $16,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,012 |
| 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 | $1,952 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $283,716 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $388,680 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $4,778 |
| 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 | $4,778 |
| Net assets without donor restrictions | $382,102 |
| Net assets with donor restrictions | $1,800 |
| 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 | $388,680 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Tiverton Library Foundation Inc has recieved totaling $24,538.
| Awarding Organization | Amount |
|---|---|
The Champlin Foundation Pittsburgh, PA PURPOSE: SECURITY SYSTEM IMPROVEMENTS | $15,000 |
The Rhode Island Community Foundation Providence, RI PURPOSE: GENERAL OPERATING | $9,475 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $63 |
Endowment Analysis
| Beg. Balance | $243,784 |
| Earnings | $48,415 |
| Grants | $8,482 |
| Ending Balance | $283,717 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustees Of The Public Library Of The City Of Boston Boston, MA | $99,754,907 | $16,249,859 |
Lord Foundation Of Massachusetts Inc Cambridge, MA | $0 | $665,000 |
Mit International Inc Cambridge, MA | $42,886,000 | $6,428,000 |
Concord Consortium Inc Concord, MA | $4,473,971 | $11,489,391 |
Charles E Cotting Charitable Corp Boston, MA | $113,711,021 | $14,477,400 |
Wcs - 333 South Street Inc Shrewsbury, MA | $39,740,486 | $7,489,378 |
Board Of Regents Of Higher Ed Mass Tchrs Assoc H & W Fund Milton, MA | $6,201,016 | $7,705,750 |
Salem State University Foundation Inc Salem, MA | $50,036,671 | $9,786,265 |
Harvard Global Research And Support Services Inc Cambridge, MA | $4,102,783 | $7,593,070 |
Onward We Learn Providence, RI | $7,332,600 | $5,470,693 |
Gruber Foundation New Haven, CT | $222,542,836 | $5,387,715 |
Phemus Corporation Boston, MA | $816,479,515 | $2,564,792 |