Madison County Library Incorporated
- Assets
- $1.1m
- Revenue
- $372.4k
- Investments
- $0.0
- Employees
- 9
- Location
- Madison, VA
- Founding
- 06/1968
- Data as of
- 06/2024
- EIN
- 54-0831592
Organization Overview
Madison County Library Incorporated is located in Madison, VA. The organization was established in 1968. As of 06/2024, Madison County Library Incorporated employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison County Library Incorporated 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 06/2024, Madison County Library Incorporated generated $372.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $326.4k during the year ending 06/2024. While expenses have increased by 4.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LIBRARY SERVICES TO MADISON COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING A PUBLIC LIBRARY FOR CITIZENS OF MADISON COUNTY, VA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonnie Utz Librarian | OfficerTrustee | 38 | $47,316 |
Gary Jones Treasurer | OfficerTrustee | 24 | $23,711 |
Tracy Bond Director | Trustee | 2 | $0 |
Charles Carter Director | Trustee | 2 | $0 |
Katy Cashman Director | Trustee | 2 | $0 |
Sam Cate Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $243,065 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,374 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $333,439 |
| Total Program Service Revenue | $3,634 |
| Investment income | $28,580 |
| 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 | $372,357 |
| 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. | $72,988 |
| Compensation of current officers, directors, key employees. | $11,651 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,045 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,886 |
| Payroll taxes | $15,223 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,261 |
| 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 | $26,180 |
| Insurance | $5,606 |
| All other expenses | $9,041 |
| Total functional expenses | $326,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,655 |
| Savings and temporary cash investments | $149,745 |
| 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 | $8,600 |
| Net Land, buildings, and equipment | $408,004 |
| Investments—publicly traded securities | $538,111 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,117,115 |
| Accounts payable and accrued expenses | $5,777 |
| 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 | $5,777 |
| Net assets without donor restrictions | $796,126 |
| Net assets with donor restrictions | $315,212 |
| 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 | $1,117,115 |