Lanier Library Assn Inc
- Assets
- $3.8m
- Revenue
- $300.7k
- Investments
- $0.0
- Employees
- 6
- Location
- Tryon, NC
- Founding
- 12/1951
- Data as of
- 12/2023
- EIN
- 56-0582029
Organization Overview
Lanier Library Assn Inc is located in Tryon, NC. The organization was established in 1951. As of 12/2023, Lanier Library Assn Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lanier Library Assn 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 12/2023, Lanier Library Assn Inc generated $300.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $278.8k during the year ending 12/2023. While expenses have increased by 5.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE LITERACY AND SOCIAL INTERESTS; TO MAINTAIN A LIBRARY; AND TO ENCOURAGE CIVIC AND EDUCATIONAL WELFARE IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MEMBERS AND THE COMMUNITY ACCESS TO OVER 25,000 PRINT BOOKS, OVER 1900 NON-PRINT ITEMS AND OVER 30 PERIODICALS AS WELL AS TWO COMPUTER TERMINALS FOR PUBLIC USE. SPONSORED MONTHLY PROGRAMS OF INTEREST TO THE MEMBERSHIP AND THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vince Verrecchio Director -Marketing & Communi | Trustee | 1 | $0 |
Cindy E Caldwell Director-Nominating Cmtte Cha | Trustee | 2 | $0 |
Christine Vincent Director - Hospitality Chair | Trustee | 1 | $0 |
Laura Peek Director - Membership Chair | Trustee | 1 | $0 |
Lee Cudlip Director - Media Selection Ch | Trustee | 1 | $0 |
Tom J Ervin III Vice-President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,800 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $215,829 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $238,629 |
| Total Program Service Revenue | $0 |
| Investment income | $88,696 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $400 |
| Net Gain/Loss on Asset Sales | -$30,160 |
| Net Income from Fundraising Events | $558 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $300,728 |
| 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 | $104,287 |
| Pension plan accruals and contributions | $10,417 |
| Other employee benefits | $0 |
| Payroll taxes | $8,019 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,678 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,961 |
| Office expenses | $2,999 |
| Information technology | $9,918 |
| Royalties | $0 |
| Occupancy | $37,794 |
| Travel | $1,097 |
| 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 | $14,557 |
| Insurance | $6,900 |
| All other expenses | $16,553 |
| Total functional expenses | $278,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,487 |
| Savings and temporary cash investments | $307,511 |
| Pledges and grants receivable | $10,417 |
| 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 | $274,557 |
| Investments—publicly traded securities | $3,063,357 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $69,000 |
| Total assets | $3,802,329 |
| Accounts payable and accrued expenses | $13,537 |
| 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 | $13,537 |
| Net assets without donor restrictions | $3,657,790 |
| Net assets with donor restrictions | $131,002 |
| 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 | $3,802,329 |