Townsend Public Library Endowment Inc
- Assets
- $1.1m
- Revenue
- $50.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Townsend, MA
- Founding
- 06/2009
- Data as of
- 12/2022
- EIN
- 26-3562595
Organization Overview
Townsend Public Library Endowment Inc is located in Townsend, MA. The organization was established in 2009. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Townsend Public Library Endowment 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 12/2022, Townsend Public Library Endowment Inc generated $50.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $47.1k during the year ending 12/2022. 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 MANAGE AN ENDOWMENT FUND TO ASSIST IN FUNDING PROGRAMS AND ACTIVITIES TO BE CONDUCTED AND/OR SPONSORED BY THE TOWNSEND PUBLIC LIBRARY IN ORDER TO PROVIDE THE WIDEST POSSIBLE RANGE OF INFORMATION, EDUCATIONAL, AND CULTURAL SERVICES TO THE INDIVIDUALS AND GROUPS IN THE LIBRARY COMMUNITY AND TO RAISE FUNDS FOR THE PURPOSE OF PURCHASING AND DONATING TO THE TOWNSEND PUBLIC LIBRARY DEEMED DESIRABLE FOR THE FURTHERANCE OF THE LIBRARY'S ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MANAGE AN ENDOWMENT FUND TO ASSIST IN FUNDING PROGRAMS AND ACTIVITIES TO BE CONDUCTED AND/OR SPONSORED BY THE TOWNSEND PUBLIC LIBRARY IN ORDER TO PROVIDE THE WIDEST POSSIBLE RANGE OF INFORMATION, EDUCATIONAL, AND CULTURAL SERVICES TO THE INDIVIDUALS AND GROUPS IN THE LIBRARY COMMUNITY AND TO RAISE FUNDS FOR THE PURPOSES OF PURCHASING AND DONATING TO THE TOWNSEND PUBLIC LIBRARY DEEMED DESIRABLE FOR THE FURTHERANCE OF THE LIBRARY'S ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Templeton President | Trustee | 1.5 | $0 |
Theresa Walsh Treasurer | Trustee | 2.5 | $0 |
Karen Rapoza Secretary | Trustee | 1.25 | $0 |
John Delaney Director | Trustee | 1 | $0 |
Gary Shepherd Director | Trustee | 1 | $0 |
Valerie Goodrich Vice President | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,237 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,237 |
| Total Program Service Revenue | $0 |
| Investment income | $36,940 |
| 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 | $50,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,866 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,483 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,195 |
| Office expenses | $202 |
| 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 | $1,367 |
| All other expenses | $0 |
| Total functional expenses | $47,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,441 |
| Savings and temporary cash investments | $46 |
| 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 | $1,064,809 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,102,296 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,102,296 |
| 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 | $1,102,296 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Townsend Public Library Endowment Inc has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of North Central Massachusetts Inc Fitchburg, MA PURPOSE: ARTS & CULTURE | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joy In Childhood Foundation Inc Canton, MA | $7,582,989 | $8,931,292 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Mccance Foundation Tr North Scituate, MA | $91,930,926 | $3,999,038 |
Childrens Dyslexia Centers Inc Lexington, MA | $70,604,540 | $15,265,584 |
North Central Area Agency On Aging Inc Hartford, CT | $1,856,134 | $6,505,484 |
Hampton Classic Horse Show Inc Bridgehampton, NY | $1,702,497 | $4,948,481 |
Peggy Mcgrath Rockefeller Foundation New York, NY | $16,278,993 | $1,905,197 |
Loring Wolcott & Coolidge Charitable Tr - I Boston, MA | $103,000 | $4,276,644 |
Rosenkranz Foundation Inc New York, NY | $20,933,111 | $6,809,267 |
Llewellyn Family Foundation New York, NY | $59,134,047 | $5,278,479 |