Central Minnesota Libraries Exchange
- Assets
- $396.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 2
- Location
- Cambridge, MN
- Founding
- 12/1984
- Data as of
- 06/2023
- EIN
- 41-1377043
Organization Overview
Central Minnesota Libraries Exchange is located in Cambridge, MN. The organization was established in 1984. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 06/2023, Central Minnesota Libraries Exchange employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Minnesota Libraries Exchange 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, Central Minnesota Libraries Exchange generated $181.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $135.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
CENTRAL MN LIBRARY EXCHANGE (CMLE) SERVICES 12 LOCAL COUNTIES. CMLE ASSISTS IN THE SHARING OF LIBRARY RESOURCES AND DELIVERY OF SAID MATERIALS, LONG RANGE PLANNING FOR COOPERATIVE PROGRAMMING LIKE, BUT NOT LIMITED TO, THE DEVELOPMENT OF COOPERATIVE DATABASES AND IN THE COMMUNICATION OF ITS PARTNERS VIA PRINT AND ELECTRONIC MEANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Wilkins Jordan Executive Director (outgoing) | 40 | $80,997 | |
Melissa Brechon Executive Director (incoming) | 0 | $0 | |
Jayne Dietz President | 0.2 | $0 | |
Wendy Kafka Secretary | 0.2 | $0 | |
Karen Pundsack Treasurer | 0.2 | $0 | |
Dorothy Kersten Board Member | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,980 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $3,677 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $181,657 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $86,014 |
| Professional fees and other payments to independent contractors | $21,635 |
| Occupancy, rent, utilities, and maintenance | $8,384 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $19,813 |
| Total expenses | $135,846 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $375,027 |
| Other assets | $0 |
| Total assets | $396,227 |
| Total liabilities | $0 |
| Net assets or fund balances | $396,227 |