Rosenberg Library Association
- Assets
- $41.5m
- Revenue
- $5.7m
- Investments
- $22.5m
- Employees
- 53
- Location
- Galveston, TX
- Founding
- 02/1941
- Data as of
- 09/2023
- EIN
- 74-1143072
Organization Overview
Rosenberg Library Association is located in Galveston, TX. The organization was established in 1941. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 09/2023, Rosenberg Library Association employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rosenberg 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 09/2023, Rosenberg Library Association generated $5.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $5.8m during the year ending 09/2023. While expenses have increased by 3.7% 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
OPERATION OF PUBLIC LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PUBLIC LIBRARY. PURCHASE OF BOOKS & PERIODICALS, PROVIDE STAFF FOR LIBRARY OPERATIONS, PROVIDE OCCUPANCY EXPENSES FOR LIBRARY FACILITIES, PROVIDE OTHER COSTS FOR LIBRARY OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael C Doherty President | OfficerTrustee | 2 | $0 |
Dancie Perugini Ware Vice President | OfficerTrustee | 2 | $0 |
Bille Hoskins Secretary | OfficerTrustee | 2 | $0 |
Eugene Hornstein Assistant Secretary | OfficerTrustee | 2 | $0 |
Roland L Bassett Treasurer | OfficerTrustee | 2 | $0 |
Pamela Froeschner Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Building Galveston Inc Construction | 9/29/23 | $331,876 |
Overdrive Inc Circulating Materials | 9/29/23 | $288,039 |
Baker & Taylor Library Books | 9/29/23 | $134,341 |
Southwest Solutions Group Shelving Archives Vault | 9/29/23 | $264,292 |
Group 4 Strategic Facilities Master Planning | 9/29/23 | $101,384 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,428,033 |
| All other contributions, gifts, grants, and similar amounts not included above | $460,441 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,888,474 |
| Total Program Service Revenue | $0 |
| Investment income | $668,150 |
| 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 | $5,673,342 |
| 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 | $3,040,742 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,707 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $703,709 |
| Travel | $5,052 |
| 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 | $622,242 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,771,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,479 |
| Savings and temporary cash investments | $1,683,323 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,218 |
| 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 | $101,270 |
| Net Land, buildings, and equipment | $13,309,763 |
| Investments—publicly traded securities | $3,859,724 |
| Investments—other securities | $22,456,335 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,256 |
| Total assets | $41,497,368 |
| Accounts payable and accrued expenses | $471,210 |
| 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 | $70,261 |
| Total liabilities | $541,471 |
| Net assets without donor restrictions | $12,801,510 |
| Net assets with donor restrictions | $28,154,387 |
| 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 | $41,497,368 |