Libraries Of Foster Inc
- Assets
- $1.0m
- Revenue
- $217.7k
- Investments
- $333.7k
- Employees
- 11
- Location
- Foster, RI
- Founding
- 07/2010
- Data as of
- 06/2021
- 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 06/2021, 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 06/2021, Libraries Of Foster Inc generated $217.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $229.1k during the year ending 06/2021. 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 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 |
|---|---|---|---|
Matthew E Haynes President | Officer | $0 | |
Joyce Lepoaja Secretary | Officer | $0 | |
Lori Tellier Treasurer | Officer | $0 | |
Kelly Rotondo Director | Trustee | $0 | |
Lauren E Haynes Vice Preside | Trustee | $0 | |
Joann Johnson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $209,664 |
| Investment income | $5,722 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,978 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $217,659 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $128,101 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,536 |
| Payroll taxes | $11,519 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $350 |
| Fees for services: Other | $569 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,019 |
| 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 | $1,382 |
| Insurance | $6,911 |
| All other expenses | $0 |
| Total functional expenses | $229,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,143 |
| Savings and temporary cash investments | $30,694 |
| 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 | $8,448 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $333,687 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $402,727 |
| Total assets | $1,039,894 |
| Accounts payable and accrued expenses | $15,626 |
| 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 | $8,565 |
| Total liabilities | $24,191 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,015,703 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Libraries Of Foster Inc has recieved totaling $77.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $77 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Publishers International Linking Association Inc Lynnfield, MA | $16,437,833 | $11,352,834 |
Springfield Museums Corporation Springfield, MA | $83,263,430 | $9,886,411 |
Providence Public Library Providence, RI | $36,987,936 | $6,478,555 |
American Antiquarian Society Worcester, MA | $122,268,688 | $9,559,298 |
John Fitzgerald Kennedy Library Foundation Incorporated Boston, MA | $64,242,661 | $9,493,249 |
Providence Community Library Providence, RI | $3,536,568 | $6,105,940 |
Proprietors Of The Social Law Library Boston, MA | $11,132,474 | $6,079,847 |
New Canaan Library Inc New Canaan, CT | $41,940,632 | $22,594,634 |
Greenwich Library Greenwich, CT | $86,849,437 | $8,026,445 |