Medford Public Library Foundation Inc
- Assets
- $3.7m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Medford, MA
- Founding
- 03/2019
- Data as of
- 06/2021
- EIN
- 83-1522957
Organization Overview
Medford Public Library Foundation Inc is located in Medford, MA. The organization was established in 2019. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medford 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 06/2021, Medford Public Library Foundation Inc generated $4.1m in total revenue. All expenses for the organization totaled $1.4m during the year ending 06/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SOLICIT, MANAGE AND MONITOR PRIVATE FUNDS RAISED FOR THE BENEFIT OF THE MEDFORD PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN THE SUMMER OF 2018, THE MEDFORD PUBLIC LIBRARY FOUNDATION (MPLF), A 501(C)(3 )ORGANIZATION WAS ESTABLISHED TO SOLICIT, MANAGE AND MONITOR PRIVATE FUNDS RAISED FOR THE CONSTRUCTION, OUTFITTING, MAINTENANCE AND OPERATION OF THE MEDFORD PUBLIC LIBRARY. THE ORGANIZATION WORKS IN COLLABORATION WITH THE OFFICE OF THE MAYOR OF THE CITY OF MEDFORD, MEDFORD LIBRARY TRUSTEES, AND THE FRIENDS OF THE MEDFORD PUBLIC LIBRARY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Sloane President | OfficerTrustee | 1 | $0 |
Rick Caraviello Vice President | OfficerTrustee | 1 | $0 |
Gilda Nogueira Treasurer | OfficerTrustee | 1 | $0 |
Rocco Dirico Clerk | OfficerTrustee | 1 | $0 |
Leilani German Director | Trustee | 1 | $0 |
Barbara Kerr Director | Trustee | 1 | $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 | $4,090,789 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,090,789 |
| Total Program Service Revenue | $0 |
| Investment income | $833 |
| 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 | $4,091,622 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,300,000 |
| 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 | $0 |
| 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 | $22,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,160 |
| Advertising and promotion | $9,523 |
| Office expenses | $118 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $120 |
| 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 | $600 |
| All other expenses | $0 |
| Total functional expenses | $1,434,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,128,540 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $498,300 |
| 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 | $260 |
| Net Land, buildings, and equipment | $32,075 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,659,175 |
| Accounts payable and accrued expenses | $46,948 |
| 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 | $46,948 |
| Net assets without donor restrictions | $3,612,227 |
| Net assets with donor restrictions | $0 |
| 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 | $3,659,175 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Medford Public Library Foundation Inc has recieved totaling $94,894.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $52,000 |
American Endowment Foundation Hudson, OH PURPOSE: ARTS, CULTURE | $27,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $13,831 |
Langworthy Foundation Carson City, NV PURPOSE: GENERAL SUPPORT | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $63 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Friends Of The Israel Antiquities Authority Inc New York, NY | $7,188,185 | $4,799,124 |
Tate Americas Foundation New York, NY | $101,513,410 | $8,735,378 |
Museo Reina Sofia Foundation Usa Inc New York, NY | $1,828,282 | $604,276 |
American Associates Of The National Theatre Inc New York, NY | $4,697,341 | $5,678,751 |
American Friends Of The Israel Philharmonic Orchestra Inc New York, NY | $30,416,918 | $8,529,001 |
American Friends Of The Louvre Inc New York, NY | $14,733,047 | $4,946,706 |
American Friends Of The National Portrait Gallery Foundation Inc New York, NY | $1,343,323 | $3,284,122 |
Coolidge Corner Theatre Foundation Inc Brookline, MA | $13,995,984 | $5,567,271 |
Boston Arts Academy Foundation Inc Boston, MA | $11,130,374 | $3,508,715 |
Friends Of The New York Transit Museum Brooklyn, NY | $12,792,750 | $2,066,293 |
Catskill Mountain Foundation Inc Hunter, NY | $10,564,799 | $2,283,674 |
Friends Of Emblaze Academy Charter School Inc Bronx, NY | $24,650,009 | $2,052,334 |