Friends Of Forbes Library Inc
- Assets
- $637.7k
- Revenue
- $70.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Northampton, MA
- Founding
- 05/2012
- Data as of
- 12/2021
- EIN
- 45-4357347
Organization Overview
Friends Of Forbes Library Inc is located in Northampton, MA. The organization was established in 2012. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Forbes Library 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 12/2021, Friends Of Forbes Library Inc generated $70.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $49.0k during the year ending 12/2021. While expenses have increased by 3.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO RAISE FUNDS AND DISBURSE MONEY FOR THE BENEFIT OF FORBES LIBRARY, IN NORTHAMPTON, MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASED TECHNOLOGY HARDWARE AND SERVICES.
PURCHASED FURNISHINGS.
PURCHASED COMPUTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Serena Smith Vice President | Officer | 2 | $0 |
Joellen Mackenzie President | Officer | 2 | $0 |
Scott Monroe Treasurer | Officer | 2 | $0 |
Christine Hannon Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $24,377 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,623 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,000 |
| Total Program Service Revenue | $0 |
| Investment income | $6,875 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,367 |
| Net Income from Fundraising Events | $12,714 |
| Net Income from Gaming Activities | $2,322 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,278 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,549 |
| 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 | $1,102 |
| Fees for services: Other | $167 |
| Advertising and promotion | $114 |
| Office expenses | $1,529 |
| 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 | $548 |
| All other expenses | $0 |
| Total functional expenses | $49,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,956 |
| Savings and temporary cash investments | $0 |
| 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 | $582,748 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $637,704 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $637,704 |
| 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 | $637,704 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Friends Of Forbes Library Inc has recieved totaling $5,072.
| Awarding Organization | Amount |
|---|---|
Florence Savings Charitable Fndn Inc Florence, MA PURPOSE: EXEMPT PURPOSE | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $72 |
Endowment Analysis
| Beg. Balance | $512,209 |
| Earnings | $51,640 |
| Admin Expense | $1,102 |
| Net Contributions | $20,000 |
| Ending Balance | $582,747 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
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 |
Westchester Library System Elmsford, NY | $6,787,041 | $7,508,558 |
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 |
Emma S Clark Memorial Library Association Setauket, NY | $12,307,300 | $6,439,716 |
Proprietors Of The Social Law Library Boston, MA | $11,132,474 | $6,079,847 |
New City Library New City, NY | $17,574,056 | $6,151,626 |