Lenox Library Association FY2024 filing

Tax-deductible

Lenox, MA501(c)(3)EducationEIN 04-2104388

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To support a public Library and other related activities and to engage generally in any causes or objectives similar to the above mentioned in order to promote the intellectual, cultural and informational well-being and growth of the general community and its members.

501(c)(3) charity; gifts are tax-deductible.
47¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $31K a year · 9% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
47%
of spending
Concern: 47% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$71K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$456K
+44% vs prior year
Spent
$361K
To programs
47%
Net assets
$4.2M
By yearFY2020–FY2025
Revenue
$456K
FY2024▲ +44%
Revenue by fiscal year
FY2020$261K
FY2021$352K
FY2022$458K
FY2023$316K
FY2024$456K
FY2025$327K
Expenses
$361K
FY2024▲ +4%
Expenses by fiscal year
FY2020$314K
FY2021$319K
FY2022$312K
FY2023$347K
FY2024$361K
FY2025$327K
Net assets
$4.2M
FY2024▲ +0.9%
Net assets by fiscal year
FY2020$4.1M
FY2021$4.4M
FY2022$4.2M
FY2023$4.1M
FY2024$4.2M
FY2025$4.3M

From the FY2024 Form 990 (year ending June 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

47 cents of each dollar spent went to programs.

Program services 47% · $170K Management & general 16% · $60K Fundraising 36% · $131K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director (resigned in Sept.)
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lenox Library Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports a public library and related activities to promote community intellectual, cultural, and informational growth.

Provided by the organization

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1 program service account for $170K of program spending, described in the organization's own filed words · FY2023.
01

See schedule owhile 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.

$170Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

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

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$456K
Ln 12
Gifts and grantsLn 1h$210K
Investment incomeLn 3$197K
Other incomeLn 4–11$40K
Money outPt IX
$361K
Ln 25
Programscol B$170K
Managementcol C$60K
Fundraisingcol D$131K
Owns and owesPt X
$4.2M
net assets · Ln 32
Cash and savingsLn 1–2$119K
Total assetsLn 16$4.2M
LiabilitiesLn 26$71K
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$210K
Fundraising eventsLn 1c$22K
Fees for servicesLn 2g$9K
Investment incomeLn 3$197K
Other incomeLn 4–11$40K
Gains on assetsLn 7$171K
Total revenueLn 12$456K
Assets in detailPt X, end of year
CashLn 1$71K
SavingsLn 2$49K
Cash and savings togetherLn 1–2$119K
InvestmentsLn 11–13$2.1M
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$2.0M
Total assetsLn 16$4.2M
LiabilitiesLn 26$71K
Net assetsLn 32$4.2M
OperationsPt I, VI
EmployeesI 52
VolunteersI 635
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$73K$119K
InvestmentsLn 11–13$2.0M$2.1M
Land, buildings, equipmentLn 10c$7K$1K
Total assetsLn 16$4.2M$4.3M
LiabilitiesLn 26$5K$71K
Net assetsLn 32$4.1M$4.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$98K$98K
Other employee benefitsLn 9$102$102
Payroll taxesLn 10$8K$8K
Accounting feesLn 11c$13K$13K
Investment management feesLn 11f$21K$21K
Other fees for servicesLn 11g$2K$2K
Office expensesLn 13$3K$3K
Information technologyLn 14$3K$3K$139
OccupancyLn 16$7K$5K$2K$106
TravelLn 17$18$18
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$180K$156K$25K
All other expensesLn 24e$7K$4K$3K
Total functional expensesLn 25$361K$170K$60K$131K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $327K$327K−$556$4.3M 990 PDF
FY2024 Viewing $456K$361K$95K$4.2M 990 PDF
FY2023 $316K$347K−$31K$4.1M 990 PDF
FY2022 $458K$312K$146K$4.2M 990 PDF
FY2021 $352K$319K$33K$4.4M 990 PDF
FY2020 $261K$314K−$54K$4.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $455,921 across 9 lines filed
VIII-1c Fundraising events$22,130
VIII-1f All other contributions, gifts and grants$187,563
VIII-1h Total contributions, gifts and grants$209,693
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,509$8,509
VIII-3 Investment incomeExcluded from tax $26,002$26,002
VIII-7 Net gain or loss on sales of assetsExcluded from tax $171,404$171,404
VIII-8 Net income from fundraising eventsExcluded from tax $39,791$39,791
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $522$522
VIII-12 Total revenueRelated to mission $9,031 · Unrelated business $0 · Excluded from tax $237,197$455,921
Part IX · Statement of functional expenses $360,894 across 14 lines filed
IX-7 Other salaries and wagesFundraising $98,239$98,239
IX-9 Other employee benefitsFundraising $102$102
IX-10 Payroll taxesFundraising $7,515$7,515
IX-11c Accounting feesManagement $13,478$13,478
IX-11f Investment management feesManagement $20,553$20,553
IX-11g Other fees for servicesManagement $2,259$2,259
IX-13 Office expensesManagement $3,003$3,003
IX-14 Information technologyManagement $3,329 · Fundraising $139$3,468
IX-16 OccupancyPrograms $5,042 · Management $1,571 · Fundraising $106$6,719
IX-17 TravelFundraising $18$18
IX-22 Depreciation, depletion and amortizationPrograms $5,864$5,864
IX-23 InsuranceManagement $12,724$12,724
IX-24 Other expenses (24a–d)Programs $155,500 · Fundraising $24,914$180,414
IX-24e All other expensesPrograms $3,912 · Management $2,626$6,538
IX-25 Total functional expensesPrograms $170,318 · Management $59,543 · Fundraising $131,033$360,894
Part X · Balance sheet $4,254,418 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $7,740$70,513
X-2 Savings and temporary cash investmentsStart of year $65,508$48,697
X-4 Accounts receivableStart of year $18$18
X-10c Land, buildings and equipment, netStart of year $7,330$1,466
X-11 Publicly traded securitiesStart of year $445,801$424,828
X-12 Other securitiesStart of year $1,509,703$1,701,275
X-15 Other assetsStart of year $2,116,141$2,007,621
X-16 Total assetsStart of year $4,152,241$4,254,418
X-17 Accounts payable and accrued expensesStart of year $4,556$70,556
X-26 Total liabilitiesStart of year $4,556$70,556
X-27 Net assets without donor restrictionsStart of year $949,209$1,029,695
X-28 Net assets with donor restrictionsStart of year $3,198,476$3,154,167
X-32 Total net assets or fund balancesStart of year $4,147,685$4,183,862
X-33 Total liabilities and net assetsStart of year $4,152,241$4,254,418
Part XI · Reconciliation of net assets $4,183,862 net assets at year end
XI-1 Total revenue$455,921
XI-2 Total expenses$360,894
XI-3 Revenue less expenses$95,027
XI-4 Net assets at start of year$4,147,685
XI-5 Net unrealized gains (losses) on investments$49,670
XI-9 Other changes in net assets−$108,520
XI-10 Net assets at end of year$4,183,862

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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