Montclair Free Public Library Foundation Inc
- Assets
- $1.2m
- Revenue
- $617.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Montclair, NJ
- Founding
- 04/2003
- Data as of
- 12/2021
- EIN
- 82-0558746
Organization Overview
Montclair Free Public Library Foundation Inc is located in Montclair, NJ. The organization was established in 2003. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Montclair Free Public Library Foundation 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 12/2021, Montclair Free Public Library Foundation Inc generated $617.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $290.1k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP PHILANTHROPIC SUPPORT FOR THE MONTCLAIR FREE PUBLIC LIBRARY. TO INCREASE FUNDING FOR LIBRARY PROGRAMS, COLLECTION ENGANCEMENT, STAFF DEVELOPMENT, CAPITAL PROJECTS AND OTHER CRITICAL NEEDS THAT EXCEED MUNICIPAL FUNDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT AND PROMOTE PUBLIC INTEREST AND INVOLVEMENT IN THE LIBRARY.
TO FUND THE MONTCLAIR ADULT SCHOOL WHICH IS A TOWNSHIP PROGRAM RUN BY THE MONTCLAIR LIBRARY. THE FUNDS ARE USED FOR TECHNOLOGY INFRASTRUCTURE AND PROGRAM SUPPORT AS NEEDED BY THE LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jared Miller Treasurer | OfficerTrustee | 0 | $0 |
Jennifer Dan Phillips Secretary | OfficerTrustee | 0 | $0 |
Irena Goldstein Chairperson | OfficerTrustee | 0 | $0 |
Susan Mellin Co-Chair | OfficerTrustee | 0 | $0 |
Robert L Tortoriello Co-Chair | OfficerTrustee | 0 | $0 |
Tim O'brien Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $466,626 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $466,626 |
| Total Program Service Revenue | $0 |
| Investment income | $6,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $143,627 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $617,091 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $177,000 |
| 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 | $66,322 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,310 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,396 |
| Office expenses | $5,534 |
| Information technology | $8,874 |
| 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 | $0 |
| Insurance | $1,808 |
| All other expenses | $650 |
| Total functional expenses | $290,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $421,145 |
| Savings and temporary cash investments | $737,822 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $128 |
| Total assets | $1,159,095 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,109,095 |
| Net assets with donor restrictions | $50,000 |
| 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 | $1,159,095 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Montclair Free Public Library Foundation Inc has recieved totaling $43,253.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,392 |
Pinkerton Foundation New York, NY PURPOSE: TRUSTEE DISCRETIONARY | $10,000 |
Coastal Community Foundation Of South Carolina Inc N Charleston, SC PURPOSE: EDUCATION GRANT | $10,000 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: ARTS/CULTURE/HUMANITIES | $10,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,500 |
Lazard Foundation New York, NY PURPOSE: UNRESTRICTED | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Forrestal Agricultural Corporation Princeton, NJ | $368,119,233 | $43,096,782 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Foundation Of The State University Of New York At Binghamton Inc Binghamton, NY | $286,478,699 | $29,318,635 |
New York University School Of Law Foundation New York, NY | $145,376,406 | $16,902,006 |
Ubf Faculty-Student Housing Corp Buffalo, NY | $136,055,512 | $19,963,891 |
Educational And Cultural Trust Fund Of The Electrical Industry Flushing, NY | $84,016,859 | $24,193,596 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |