George M Jones Library Association
- Assets
- $4.3m
- Revenue
- $330.9k
- Investments
- $4.0m
- Employees
- 0
- Location
- Lynchburg, VA
- Founding
- 06/1930
- Data as of
- 06/2023
- EIN
- 54-0505921
Organization Overview
George M Jones Library Association is located in Lynchburg, VA. The organization was established in 1930. 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. George M Jones Library Association 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, George M Jones Library Association generated $330.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $333.5k during the year ending 06/2023. While expenses have increased by 3.0% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLE ACTIVITY OF THE ASSOCIATION IS THE OPERATION OF A LIBRARY FOR GENEOLOGICAL & HISTORICAL RESEARCH. THE LIBRARY IS OPEN TO THE PUBLIC AT NO CHARGE OR FEE. LIBRARY PERSONNEL ESTIMATE THAT APPROXIMATELY 10,000-12,000 PEOPLE USE THE FACILITY ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Chambliss Light Jr President | 10 | $0 | |
Dr Gerry Sherayko Vice President | 5 | $0 | |
Russell Hicks Treasurer | 5 | $0 | |
Hunsdon H Cary III Secretary | 0.5 | $0 | |
Maegan Crews Fallen Trustee | 0.5 | $0 | |
Leighton S Houck Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $129,907 |
| Interest on Savings | $0 |
| Dividends & Interest | $171,979 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,414 |
| Capital Gain Net Income | $27,414 |
| Net ST Capital Gain | $5,406 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,614 |
| Total Revenue | $330,914 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $82,185 |
| Other employee salaries and wages | $76,225 |
| Pension plans, employee benefits | $2,670 |
| Interest | $50 |
| Taxes | $12,247 |
| Depreciation | $11,800 |
| Occupancy | $44,316 |
| Travel, conferences, and meetings | $1,806 |
| Printing and publications | $0 |
| Other expenses | $50,558 |
| Total operating and administrative expenses | $333,498 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $333,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,751 |
| Savings and temporary cash investments | $163,521 |
| Net Accounts receivable | $17,124 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $45,666 |
| Net Land, buildings, and equipment | $1,652 |
| Other assets | $0 |
| Total assets | $4,287,604 |
| Accounts payable and accrued expenses | $750 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $750 |