Somerville Public Library Foundation
- Assets
- $1.7m
- Revenue
- -$34.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Somerville, MA
- Founding
- Data as of
- 06/2023
- EIN
- 84-4438599
Organization Overview
Somerville Public Library Foundation is located in Somerville, MA. According to its NTEE Classification (B70) the organization is classified as: Libraries, 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. Somerville Public Library Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DIRECT AND MANAGE PROMOTIONAL AND FUNDRAISING ACTIVITIES FOR THE BENEFIT OF THE SOMERVILLE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT AND MANAGE FUNDRAISING ACTIVITIES TO BENEFIT THE SOMERVILLE PUBLIC LIBRARY.
TO DISBURSE FUNDS FOR THE RENOVATION OF THE LIBRARY BUILDINGS, FOR NEW LIBRARY EQUIPMENT & FURNISHINGS, AND FOR NEW PROGRAM INITIATIVES AS WELL AS SUPPORTING LIBRARY STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maren Chiu President | OfficerTrustee | 2 | $0 |
Chris Ludlow Treasurer | OfficerTrustee | 2 | $0 |
Andrea Paulson Clerk | OfficerTrustee | 1 | $0 |
Ruth Farris Director | Trustee | 1 | $0 |
Katherine Auspitz Director | Trustee | 1 | $0 |
Mary Cassesso 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 | $91,891 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,891 |
| Total Program Service Revenue | $0 |
| Investment income | $7,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$15,354 |
| Net Gain/Loss on Asset Sales | -$118,208 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$34,350 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,375 |
| 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 | $5,117 |
| Fees for services: Accounting | $800 |
| 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 | $0 |
| Information technology | $0 |
| 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 | $893 |
| All other expenses | $0 |
| Total functional expenses | $12,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $463,555 |
| Savings and temporary cash investments | $0 |
| 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 | $868,366 |
| Investments—publicly traded securities | $359,212 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,691,133 |
| 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 | $1,691,133 |
| 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 | $1,691,133 |
Grants Awarded
Over the last fiscal year, Somerville Public Library Foundation has awarded $16,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SOMERVILLE PUBLIC LIBRARY PURPOSE: TO FUND A POP-UP AREA AT MAIN LIBRARY. | $12,000 |
FRIENDS OF SOMERVILLE PUBLIC LIBRARY INC PURPOSE: TO FUND OPERATIONS. | $4,000 |