Newberry Library
- Assets
- $108.3m
- Revenue
- $14.6m
- Investments
- $18.8m
- Employees
- 123
- Location
- Chicago, IL
- Founding
- 03/1939
- Data as of
- 06/2023
- EIN
- 36-2167814
Organization Overview
Newberry Library, operating under the name The Newberry, is located in Chicago, IL. The organization was established in 1939. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2023, Newberry employed 123 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newberry 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 06/2023, Newberry generated $14.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $13.8m during the year ending 06/2023. While expenses have increased by 3.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE NEWBERRY LIBRARY FREE AND OPEN TO THE PUBLIC FOSTERS A DEEPER UNDERSTANDING OF OUR WORLD BY INSPIRING RESEARCH AND LEARNING IN THE HUMANITIES AND ENCOURAGING CONVERSATIONS ABOUT IDEAS THAT MATTER TO DIVERSE AUDIENCES. OUR MISSION IS ROOTED IN A GROWING AND ACCESSIBLE COLLECTION OF RARE AND HISTORICAL MATERIALS THAT SPANS MORE THAN SIX CENTURIES OF HUMAN EXPERIENCE. WE PROVIDE FREE ACCESS TO THE COLLECTION IN OUR READING ROOMS; OFFER FREE PUBLIC PROGRAMS AND EXHIBITIONS; AND CREATE OPPORTUNITIES FOR SCHOLARS, TEACHERS, AND STUDENTS TO ENGAGE WITH THE COLLECTION, NEWBERRY STAFF, AND EACH OTHER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR DEDICATED LIBRARIANS, CURATORS, CATALOGERS, AND CONSERVATORS SERVE READERS, GROW AND CARE FOR THE COLLECTION, AND EXPAND ACCESS TO DIGITAL TOOLS.ITEMS CATALOGUED: 4,256ITEMS TREATED BY CONSERVATION: 2,044INDIVIDUALS REGISTERED AS NEWBERRY READERS: 4,010ITEMS REQUESTED FOR USE IN READING ROOMS: 13,7473,485 UNIQUE READER VISITS TO READING ROOMS; 10,687 TOTAL VISITSREFERENCE REQUESTS FIELDED BY NEWBERRY LIBRARIANS AND CURATORS: 10,848EXHIBITIONS, PUBLIC PROGRAMS, AND ADULT EDUCATION CLASSES ARE A FIRST POINT OF CONTACT FOR MANY PEOPLE WHO ENGAGE WITH OUR COMMUNITY. WE OFFER IN-PERSON, VIRTUAL, AND HYBRID PROGRAMMING.ADULT EDUCATION SEMINARS PARTICIPANTS: 1,670PUBLIC PROGRAMS ATTENDEES: 7,418EXHIBITION VISITORS: 34,221SOCIAL MEDIA PLATFORM FOLLOWERS: 84,155IN ADDITION TO MORE PUBLIC-FACING OFFERINGS, NEWBERRY STAFF SERVE RESEARCH FELLOWS, TEACHERS, GRADUATE AND UNDERGRADUATE STUDENTS, AND OTHER ACADEMICS.PARTICIPANTS IN RESEARCH CENTER PROGRAMS: 2,321DIGITAL COLLECTIONS FOR CLASSROOM SITE USERS: 95,700PROFESSIONAL DEVELOPMENT SEMINARS EDUCATOR ATTENDEES: 838LONG-TERM FELLOWS IN RESIDENCE: 12SHORT-TERM FELLOWS IN RESIDENCE: 38ATTENDEES AT SCHOLARLY SEMINARS: 959
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gail Kern Paster Interim President | OfficerTrustee | 35 | $0 |
Burton X Rosenberg Thru 0123 Chair/trustee | OfficerTrustee | 1 | $0 |
Robert A Holland Beg 0123 Chair | OfficerTrustee | 1 | $0 |
Lisa J Pattis Beg 0123 Vice Chair | OfficerTrustee | 1 | $0 |
Karla Scherer Secretary | OfficerTrustee | 1 | $0 |
David B Smith Jr Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Knickerbocker Roofing & Paving Co Roofing | 6/29/23 | $252,797 |
Securitas Security Services Security | 6/29/23 | $243,437 |
Abm Janitorial Services Janitorial | 6/29/23 | $265,382 |
Firebelly Design Website Development | 6/29/23 | $193,796 |
Media Resources Inc Audio/visual Equipment | 6/29/23 | $157,561 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $534,165 |
| Fundraising events | $347,425 |
| Related organizations | $0 |
| Government grants | $477,236 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,041,620 |
| Noncash contributions included in lines 1a–1f | $936,050 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,400,446 |
| Total Program Service Revenue | $994,628 |
| Investment income | $1,827,089 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $235,317 |
| Net Income from Fundraising Events | $13,324 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,617,356 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,132,389 |
| Grants and other assistance to Foreign Orgs/Individuals | $46,482 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $468,658 |
| Compensation of current officers, directors, key employees. | $468,658 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,316,375 |
| Pension plan accruals and contributions | $324,342 |
| Other employee benefits | $872,799 |
| Payroll taxes | $410,814 |
| Fees for services: Management | $382,889 |
| Fees for services: Legal | $3,698 |
| Fees for services: Accounting | $91,715 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $182,392 |
| Fees for services: Other | $213,934 |
| Advertising and promotion | $153,557 |
| Office expenses | $289,202 |
| Information technology | $431,923 |
| Royalties | $0 |
| Occupancy | $1,074,491 |
| Travel | $193,565 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,598 |
| Interest | $280,120 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $699,060 |
| Insurance | $126,972 |
| All other expenses | $47,020 |
| Total functional expenses | $13,776,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,706,412 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,387,979 |
| Accounts receivable, net | $1,621 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,464 |
| Prepaid expenses and deferred charges | $155,843 |
| Net Land, buildings, and equipment | $15,201,862 |
| Investments—publicly traded securities | $66,265,654 |
| Investments—other securities | $18,766,488 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $773,421 |
| Total assets | $108,311,744 |
| Accounts payable and accrued expenses | $875,956 |
| Grants payable | $0 |
| Deferred revenue | $221,112 |
| Tax-exempt bond liabilities | $1,371,708 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,400,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $366,734 |
| Total liabilities | $6,235,510 |
| Net assets without donor restrictions | $36,148,805 |
| Net assets with donor restrictions | $65,927,429 |
| 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 | $108,311,744 |