Cambridge Public Library Foundation Inc
- Assets
- $2.4m
- Revenue
- $714.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Cambridge, MA
- Founding
- 04/2016
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Cambridge Public Library Foundation Inc generated $714.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $399.3k during the year ending 06/2023. 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
TO SUPPORT THE CAMBRIDGE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVER THE PAST FISCAL YEAR, THE LIBRARY FOUNDATION GAVE MORE THAN $400,000 TO THE CAMBRIDGE PUBLIC LIBRARY IN SUPPORT OF PROGRAMS, SERVICES AND GIVEAWAYS, INCLUDING: THE 7TH 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 THE ELDERLY, INCLUDING WELLNESS PROGRAMS AND WORKSHOPS; NINE COURSES THROUGH THE STEAM ACADEMY, ATTENDED BY OVER A HUNDRED YOUTH; PROFESSIONAL DEVELOPMENT FOR LIBRARY STAFF; SOCIAL WORKER STIPENDS; AND THOUSANDS OF BOOKS TO GIVE AWAY AS PART OF THE SUMMER READING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shippen L Page Director | Trustee | 1 | $0 |
David Sandberg Secretary | OfficerTrustee | 3 | $0 |
Katie Lapp Director | Trustee | 1 | $0 |
Shahid Azim Treasurer | OfficerTrustee | 3 | $0 |
Ed Belove Director | Trustee | 1 | $0 |
Jill Burrows 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 | $590,732 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $590,732 |
| Total Program Service Revenue | $0 |
| Investment income | $39,435 |
| 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 | $714,371 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $126,621 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,259 |
| Payroll taxes | $10,839 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,924 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,702 |
| Advertising and promotion | $19,898 |
| Office expenses | $8,847 |
| Information technology | $7,547 |
| 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 | $313 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,353 |
| All other expenses | $2,498 |
| Total functional expenses | $399,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,576 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $95,000 |
| 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 | $4,104 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,983,744 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,371,424 |
| Accounts payable and accrued expenses | $14,805 |
| 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 | $14,805 |
| Net assets without donor restrictions | $1,145,570 |
| Net assets with donor restrictions | $1,211,049 |
| 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 | $2,371,424 |