Cambridge Public Library Foundation Inc
- Assets
- $2.1m
- Revenue
- $380.0k
- Investments
- $1.7m
- Employees
- 2
- Location
- Cambridge, MA
- Founding
- 04/2016
- Data as of
- 06/2022
- EIN
- 47-5391781
Organization Overview
Cambridge Public Library Foundation Inc is located in Cambridge, MA. The organization was established in 2016. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Cambridge Public Library Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cambridge Public Library Foundation 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 06/2022, Cambridge Public Library Foundation Inc generated $380.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $399.0k during the year ending 06/2022. 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 SUPPORT THE CAMBRIDGE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVER THE PAST YEAR, THE LIBRARY FOUNDATION GAVE MORE THAN $208,000 TO THE CAMBRIDGE PUBLIC LIBRARY IN SUPPORT OF PROGRAMS, SERVICES AND GIVEAWAYS INCLUDING: THE 6TH ANNUAL MARGARET AND H.A. REY CURIOUS GEORGE LECTURE FOR CHILDREN; AN EIGHT-PART VIRTUAL AND IN-PERSON AUTHOR SERIES, FEATURING THE STORIES OF FIRST-GENERATION, AMERICAN-BORN AUTHORS; PROGRAMS FOR OLDER ADULTS, INCLUDING WELLNESS PROGRAMS AND WORKSHOPS; NINE COURSES THROUGH THE STEAM ACADEMY, ATTENDED BY 127 YOUTH; PROFESSIONAL DEVELOPMENT FOR LIBRARY STAFF; SOCIAL WORKER STIPENDS; AND THOUSANDS OF BOOKS TO GIVE AWAY THROUGH THE SUMMER READING PROGRAMS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Sandberg Secretary | OfficerTrustee | 3 | $0 |
Shippen L Page President | OfficerTrustee | 3 | $0 |
Katie Lapp Treasurer | OfficerTrustee | 3 | $0 |
Shahid Azim Director | Trustee | 1 | $0 |
Jill Burrows Director | Trustee | 1 | $0 |
Ed Belove Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $578,107 |
| Noncash contributions included in lines 1a–1f | $578 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $578,107 |
| Total Program Service Revenue | $43 |
| Investment income | $31,981 |
| 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 | $380,018 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $78,831 |
| Compensation of current officers, directors, key employees. | $23,649 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,023 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,786 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,302 |
| Advertising and promotion | $1,000 |
| Office expenses | $2,597 |
| Information technology | $5,977 |
| 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 | $3,198 |
| All other expenses | $13,336 |
| Total functional expenses | $399,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $242,948 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $126,937 |
| 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 | $13,536 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,680,072 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,063,493 |
| Accounts payable and accrued expenses | $21,911 |
| 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 | $21,911 |
| Net assets without donor restrictions | $1,019,483 |
| Net assets with donor restrictions | $1,022,099 |
| 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 | $2,063,493 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cambridge Public Library Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Anne R Dow Family Foundation Inc Cambridge, MA PURPOSE: UNRESTRICTED SUPPORT OF ORGANIZATION'S PURPOSE | $4,000 |
Alchemy Foundation Cambridge, MA PURPOSE: GENERAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $467,343 |
| Net Contributions | $98,307 |
| Ending Balance | $565,650 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Worcester City Campus Corporation Shrewsbury, MA | $408,230,540 | $37,285,221 |
New Visions For Public Schools Inc New York, NY | $79,613,761 | $33,356,068 |
Naf New York, NY | $28,094,768 | $18,819,868 |
Zearn Inc New York, NY | $36,079,361 | $33,394,711 |
Uchcfc Circle Road Corp Farmington, CT | $184,016,128 | $11,665,579 |
United Community Schools Inc New York, NY | $17,599,679 | $9,226,471 |
Friends Of Hellenic Classical Charter Schools Inc Brooklyn, NY | $82,915,888 | $678,941 |
Massachusetts Green High Performance Computing Center Inc Holyoke, MA | $16,995,884 | $7,668,165 |
Student Achievement Partners Inc New York, NY | $8,247,794 | $7,455,301 |
Vmc Indemnity Company Inc Burlington, VT | $100,648,707 | $14,545,433 |
Uka Facilities Foundation Inc New York, NY | $167,163,417 | $25,000 |
Hill For Literacy Inc Woburn, MA | $4,985,114 | $5,142,068 |