Nantucket Atheneum FY2021 filing

Tax-deductible

Nantucket, MA501(c)(3)EIN 04-2104412

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The Nantucket Atheneum maintains circulating, children's, and research libraries as well as an extensive collection of artwork and exhibits on display to the public.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$468K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $592K a year · 16% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$468K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $34K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$272K
0.9% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.3M
-9% vs prior year
Spent
$2.8M
To programs
70%
Net assets
$30.2M
By yearFY2020–FY2024
Revenue
$3.3M
FY2021▼ -9%
Revenue by fiscal year
FY2020$3.6M
FY2021$3.3M
FY2022$3.6M
FY2023$3.6M
FY2024$4.3M
Expenses
$2.8M
FY2021▲ +3%
Expenses by fiscal year
FY2020$2.7M
FY2021$2.8M
FY2022$3.0M
FY2023$3.3M
FY2024$3.5M
Net assets
$30.2M
FY2021▲ +12%
Net assets by fiscal year
FY2020$27.0M
FY2021$30.2M
FY2022$24.8M
FY2023$27.9M
FY2024$30.7M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1943.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $2.0M Management & general 15% · $415K Fundraising 15% · $436K

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

28 people listed on the 990; $468K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$193,400Pt VII · Sec A
Development Director
$142,398Pt VII · Sec A
Head Reference Librarian
$102,878Pt VII · Sec A
Finance Manager
$29,773Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Ann Scott$279,190$218,934$199,518$193,400$201,985
Margaret O'Reily$196,482$172,862$125,043——
Margaret O'Reilly———$142,398$142,681
Lincoln Thurber$119,701$105,715$102,975$102,878—
Leslie Malcom$114,061————
Cheryl Creighton$108,659————
Ashley Christ-Haigh$96,637$73,104—$29,773—
Kiley Fitch————$56,567

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Maintains libraries and displays art and exhibits for public access.

Provided by the organization

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1 program service account for $2.0M of program spending, described in the organization's own filed words · FY2021.
01

Operation of a public library for the town of nantucket.

$2.0Mprogram 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$34K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3.3M
Ln 12
Gifts and grantsLn 1h$2.4M
Investment incomeLn 3$1.0M
Fees for servicesLn 2g$3K
Money outPt IX
$2.8M
Ln 25
Programscol B$2.0M
Managementcol C$415K
Fundraisingcol D$436K
Owns and owesPt X
$30.2M
net assets · Ln 32
Cash and savingsLn 1–2$606K
Total assetsLn 16$30.4M
LiabilitiesLn 26$272K
PeoplePt VI, VII
28
listed · VII A
PaidVII A4
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Government grantsLn 1e$757K
Noncash giftsLn 1g$42K
Fundraising eventsLn 1c$525K
Fees for servicesLn 2g$3K
Investment incomeLn 3$1.0M
Gains on assetsLn 7$373K
Total revenueLn 12$3.3M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$604K
Cash and savings togetherLn 1–2$606K
InvestmentsLn 11–13$28.3M
Land, buildings, equipmentLn 10c$1.0M
Total assetsLn 16$30.4M
LiabilitiesLn 26$272K
Net assetsLn 32$30.2M
OperationsPt I, VI
EmployeesI 538
VolunteersI 6130
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$1.3M$606K
InvestmentsLn 11–13$23.6M$28.3M
Land, buildings, equipmentLn 10c$1.2M$1.0M
Total assetsLn 16$27.1M$30.4M
LiabilitiesLn 26$134K$272K
Net assetsLn 32$27.0M$30.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$223K$58K$107K$58K
Other salaries and wagesLn 7$1.1M$763K$73K$235K
Pension plan contributionsLn 8$24K$16K$2K$7K
Other employee benefitsLn 9$191K$142K$27K$22K
Payroll taxesLn 10$104K$66K$15K$22K
Accounting feesLn 11c$82K$82K
Investment management feesLn 11f$32K$32K
Other fees for servicesLn 11g$10K$831$9K
Advertising and promotionLn 12$35K$17K$16K$2K
Office expensesLn 13$49K$38K$7K$4K
OccupancyLn 16$463K$416K$23K$23K
Conferences, conventions and meetingsLn 19$4K$604$943$2K
Depreciation, depletion and amortizationLn 22$257K$232K$13K$13K
Other expenses (24a–d)Ln 24$244K$215K$260$29K
All other expensesLn 24e$32K$5K$16K$11K
Total functional expensesLn 25$2.8M$2.0M$415K$436K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.3M$3.5M$799K$30.7M 990 PDF
FY2023 $3.6M$3.3M$255K$27.9M 990 PDF
FY2022 $3.6M$3.0M$628K$24.8M 990 PDF
FY2021 Viewing $3.3M$2.8M$433K$30.2M 990 PDF
FY2020 $3.6M$2.7M$848K$27.0M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $3,253,368 across 11 lines filed
VIII-1c Fundraising events$525,228
VIII-1e Government grants$756,742
VIII-1f All other contributions, gifts and grants$1,124,997
VIII-1g Noncash contributions (included above)$41,908
VIII-1h Total contributions, gifts and grants$2,406,967
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,617$2,617
VIII-3 Investment incomeExcluded from tax $636,435$636,435
VIII-7 Net gain or loss on sales of assetsExcluded from tax $373,079$373,079
VIII-8 Net income from fundraising eventsExcluded from tax −$179,188−$179,188
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $13,458$13,458
VIII-12 Total revenueRelated to mission $16,075 · Unrelated business $0 · Excluded from tax $830,326$3,253,368
Part IX · Statement of functional expenses $2,820,736 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $58,020 · Management $107,133 · Fundraising $58,020$223,173
IX-7 Other salaries and wagesPrograms $762,701 · Management $73,087 · Fundraising $234,794$1,070,582
IX-8 Pension plan contributionsPrograms $16,147 · Management $1,654 · Fundraising $6,597$24,398
IX-9 Other employee benefitsPrograms $142,122 · Management $27,344 · Fundraising $21,651$191,117
IX-10 Payroll taxesPrograms $66,048 · Management $15,392 · Fundraising $22,156$103,596
IX-11c Accounting feesManagement $81,871$81,871
IX-11f Investment management feesManagement $31,729$31,729
IX-11g Other fees for servicesPrograms $831 · Fundraising $8,965$9,796
IX-12 Advertising and promotionPrograms $17,003 · Management $16,286 · Fundraising $1,832$35,121
IX-13 Office expensesPrograms $38,154 · Management $7,393 · Fundraising $3,646$49,193
IX-16 OccupancyPrograms $416,406 · Management $23,135 · Fundraising $23,133$462,674
IX-19 Conferences, conventions and meetingsPrograms $604 · Management $943 · Fundraising $2,149$3,696
IX-22 Depreciation, depletion and amortizationPrograms $231,547 · Management $12,864 · Fundraising $12,864$257,275
IX-24 Other expenses (24a–d)Programs $214,744 · Management $260 · Fundraising $29,079$244,083
IX-24e All other expensesPrograms $4,870 · Management $16,406 · Fundraising $11,156$32,432
IX-25 Total functional expensesPrograms $1,969,197 · Management $415,497 · Fundraising $436,042$2,820,736
Part X · Balance sheet $30,435,086 assets, 13 lines filed
Asset lines not itemized here account for $512,500; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $722,815$1,870
X-2 Savings and temporary cash investmentsStart of year $552,758$604,347
X-3 Pledges and grants receivableStart of year $4,898$0
X-9 Prepaid expenses and deferred chargesStart of year $3,905$0
X-10c Land, buildings and equipment, netStart of year $1,154,420$1,038,149
X-12 Other securitiesStart of year $23,606,434$28,278,220
X-16 Total assetsStart of year $27,117,546$30,435,086
X-17 Accounts payable and accrued expensesStart of year $134,105$272,061
X-26 Total liabilitiesStart of year $134,105$272,061
X-27 Net assets without donor restrictionsStart of year $19,552,134$22,629,066
X-28 Net assets with donor restrictionsStart of year $7,431,307$7,533,959
X-32 Total net assets or fund balancesStart of year $26,983,441$30,163,025
X-33 Total liabilities and net assetsStart of year $27,117,546$30,435,086
Part XI · Reconciliation of net assets $30,163,025 net assets at year end
XI-1 Total revenue$3,253,368
XI-2 Total expenses$2,820,736
XI-3 Revenue less expenses$432,632
XI-4 Net assets at start of year$26,983,441
XI-5 Net unrealized gains (losses) on investments$2,746,952
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$30,163,025

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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