Bassett Public Library Association Incorporated
- Assets
- $1.5m
- Revenue
- $220.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Bassett, VA
- Founding
- 03/1975
- Data as of
- 09/2022
- EIN
- 54-6019269
Organization Overview
Bassett Public Library Association Incorporated is located in Bassett, VA. The organization was established in 1975. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 09/2022, Bassett Public Library Association Incorporated employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bassett Public Library Association 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 09/2022, Bassett Public Library Association Incorporated generated $220.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $186.5k during the year ending 09/2022. While expenses have increased by 1.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAINS HISTORICAL RECORDS AND GENEOLOGY RECORDS AND OTHER HISTORICAL ARTIFACTS AND ART.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINS HISTORICAL RECORDS AND GENEOLOGY RECORDS AND OTHER HISTORICAL ARTIFACTS AND ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fran Snead Executive Director | 40 | $50,554 | |
L Wesley Wells Vice Chairman | OfficerTrustee | 2 | $0 |
Lizz Stanley Secretary | OfficerTrustee | 2 | $0 |
Robert Clark Treasurer | OfficerTrustee | 2 | $0 |
Betty Turner Chairman | OfficerTrustee | 2 | $0 |
Ruby Dillon Davis Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $127,273 |
| Total Program Service Revenue | $2,051 |
| Investment income | $69,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,709 |
| Net Income from Fundraising Events | $15,645 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $220,791 |
| 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. | $50,554 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $55,110 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,184 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,450 |
| 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 | $6,602 |
| Information technology | $423 |
| Royalties | $0 |
| Occupancy | $19,207 |
| 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 | $30,918 |
| Insurance | $7,602 |
| All other expenses | $0 |
| Total functional expenses | $186,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,951 |
| Savings and temporary cash investments | $2 |
| 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 | $643,664 |
| Investments—publicly traded securities | $792,100 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,535,717 |
| Accounts payable and accrued expenses | $2,189 |
| 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 | $2,189 |
| Net assets without donor restrictions | $933,643 |
| Net assets with donor restrictions | $599,885 |
| 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 | $1,535,717 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bassett Public Library Association Incorporated has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |