Libraries Of Foster Inc
- Assets
- $1.1m
- Revenue
- $231.5k
- Investments
- $349.4k
- Employees
- 11
- Location
- Foster, RI
- Founding
- 07/2010
- Data as of
- 06/2022
- EIN
- 26-1618010
Organization Overview
Libraries Of Foster Inc is located in Foster, RI. The organization was established in 2010. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2022, Libraries Of Foster Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Libraries Of Foster 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 06/2022, Libraries Of Foster Inc generated $231.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $199.6k during the year ending 06/2022. While expenses have increased by 0.9% per year over the past 7 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
TO OFFER FREE LIBRARY SERVICES SUCH AS BOOKS, MOVIES, MUSIC AND VARIOUS PROGRAMS TO RESIDENTS IN THE TOWN OF FOSTER, RI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBRARY OFFERS FREE SERVICES SUCH AS BOOK RENTALS, MOVIES, AND VARIOUS FREE PROGRAMS TO RESIDENTS OF THE TOWN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren E Haynes Vice Preside | Trustee | $0 | |
Joann Johnson Director | Trustee | $0 | |
Angel Medrano Director | Trustee | $0 | |
Kelly Rotondo Director | Trustee | $0 | |
Matthew E Haynes President | Officer | $0 | |
Joyce Lepoaja Secretary | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $201,734 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,206 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $214,940 |
| Total Program Service Revenue | $479 |
| Investment income | $11,246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,864 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $231,529 |
| 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 | $114,438 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,378 |
| Payroll taxes | $10,185 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $476 |
| Fees for services: Other | $453 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,044 |
| 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 | $2,858 |
| Insurance | $3,787 |
| All other expenses | $5,677 |
| Total functional expenses | $199,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,544 |
| Savings and temporary cash investments | $31,117 |
| 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 | $288 |
| Net Land, buildings, and equipment | $260,606 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $349,393 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $409,039 |
| Total assets | $1,065,987 |
| Accounts payable and accrued expenses | $10,723 |
| 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 | $7,555 |
| Total liabilities | $18,278 |
| Net assets without donor restrictions | $1,047,709 |
| 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 | $1,065,987 |