Lenox Library Association EIN 04-2104388 Form 990 (PDF) Claim this org

Lenox Library Association FY2020 filing

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Supports a public library and related activities to promote community intellectual, cultural, and informational growth. For fiscal year 2020 it reported $261K in revenue, $314K in expenses, and $4.1M in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Lenox, MA
Website
lenoxlib.org
Filings
6 on file (2020–2020)
Revenue
$261KFY2020
Expenses
$314K
Net assets
$4.1M
People
17
Filings
6
Updates
0
More identity details & actions ⌄
EIN  04-2104388 Public charity (501(c)(3)) Lenox, MA
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Supports a public library and related activities to promote community intellectual, cultural, and informational growth.
Leadership
Edward Richter · President
Money in and out
$261K revenue, $314K expenses
Bottom line
50% program efficiency
Where the money goes · FY2020
Total revenue
$261K
Pt VIII · Ln 12
Total expenses
$314K
Pt IX · Ln 25
Net assets
$4.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$54K
Where spending went · Part IX cols B–D
Program services $0.50 Management & general $0.19 Fundraising $0.31
Program efficiency
50%
of spending reaches programs
Operating runway
63.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
-21%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$261K
FY2020
Expenses
$314K
FY2020
Total assets
$4.1M
FY2020
Total liabilities
$26K
FY2020
Total revenue
$261K
Pt VIII · Ln 12
Total expenses
$314K
Pt IX · Ln 25
Net assets
$4.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$54K
Total assetsPt X · Ln 16$4.1M
Program-expense ratioPt IX · col B50%
Voting members of governing bodyPt I · Ln 317
Independent voting membersPt I · Ln 417
Mission & Programs · Part III

Where the work happens

1 program service account for $158K of program spending, described in the organization's own filed words · FY2019.
01

While library operations were transferred to the town of lenox as of november 9, 2017, the association continues to use its extensive resources and volunteer fundraising efforts to support the organization and its related activities.

$158Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLenox Library Association
EINHdr · item D04-2104388
Principal addressHdr · item CLenox, MA
WebsiteHdr · item Jlenoxlib.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B700)
Ruling yearIRS BMFDec 1942

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a17
Independent voting membersPt VI · Ln 1b17
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lenox Library Association executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$148K · 57%
Investment income$60K · 23%
Other revenue$45K · 17%
Program service revenue$8K · 3%
Contributions & grants57%$148K
Investment income23%$60K
Other revenue17%$45K
Program service revenue3%$8K
Total revenueLn 12$261K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.50 Management & general $0.19 Fundraising $0.31
Program services50%$158K
Management & general19%$59K
Fundraising31%$98K
Total functional expensesLn 25$314K

Balance Sheet

Part X · end of year
CashLn 1$33K
Total assetsLn 16$4.1M
Total liabilitiesLn 26$26K
Total net assetsLn 32$4.1M
Months of cash on handcomputed1.3

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.7M · Operating expenses/yr $314K
63.1 months
Where the money goes
Program services
Program services $158K · Total expenses $314K
50%
Management & General
Management & general $59K · Total expenses $314K
19%
Fundraising
Fundraising $98K · Total expenses $314K
31%
Cost to raise $1
Fundraising expense $98K · Solicited contributions $148K
$0.66 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $148K · Total revenue $261K
57%
Government reliance
Government grants — · Total revenue $261K
Earned-income share
Program service revenue $8K · Total revenue $261K
3%
Investment reliance
Investment income $60K · Total revenue $261K
+23%
Program self-sufficiency
Program service revenue $8K · Total expenses $314K
2%
Growth & trend
Revenue growth (YoY)
This year $261K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $4.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $261K · Expenses $314K
-21%
Liabilities-to-Assets
Total liabilities — · Total assets $4.1M
Net-asset ratio
Net assets $4.1M · Total assets $4.1M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $611K · Other securities (Pt X, ln 12) $1.0M · Total assets (Pt X, ln 16) $4.1M
39%
People & payroll
Highest Reported Total Compensation
Individual Edward Richter · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $314K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $96K · Total expenses $314K
31%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 50%
Overhead ratio 19%
Fundraising cost ratio 66%
Investment management fee ratio 0.5%
Legal fee ratio 0.5%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$5K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$327K revenue · ⤓ 990 PDF
FY2024$456K revenue · ⤓ 990 PDF
FY2023$316K revenue · ⤓ 990 PDF
FY2022$458K revenue · ⤓ 990 PDF
FY2021$352K revenue · ⤓ 990 PDF
FY2020$261K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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