Milton Library Foundation INC FY2023 filing

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Maintain and support the public Library in the town of Milton, ma.

Form 990 Part I, line 1, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 04-3614024) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
50¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $134K a year · 55% of revenue · last 5 filings
A surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
50%
of spending
50% of spending went to programs.
Pt IX · Ln 25 · col B
20.4 mo
of spending, in cash
Plus $1.6M in investments, Pt X · Ln 11–13
20.4 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $11K
3 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$7K
0.4% of total assets
Liabilities are 0.4% of assets.
Pt X · Ln 26
Independent board members
3
of 3 voting members
3 of 3 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$124K
-72% vs prior year
Spent
$95K
To programs
50%
Net assets
$1.8M
By yearFY2021–FY2025
Revenue
$124K
FY2023▼ -72%
Tap a bar for its year
Revenue by fiscal year
FY2021$247K
FY2022$440K
FY2023$124K
FY2024$212K
FY2025$198K
Expenses
$95K
FY2023▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2021$139K
FY2022$97K
FY2023$95K
FY2024$63K
FY2025$158K
Net assets
$1.8M
FY2023▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.8M
FY2022$1.6M
FY2023$1.8M
FY2024$2.0M
FY2025$2.1M

From the FY2023 Form 990 (year ending June 2023) · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2002.

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

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $47K Management & general 37% · $35K Fundraising 13% · $13K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Milton Library Foundation INC executive salaries →

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 and maintains the public library in Milton, MA.

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1 program · $47K · in their own filed words · FY2022
01

Grants for the maintenance of buildings in the public library system in the town of milton, ma, as well as to provide books, materials, services, and other programs within the library system.

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 04-3614024) · Dispute this line
$47Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$11K
See all 3 funders →
Grants paid · 5 grants · $287K · 2020–2024
Milton Public LibraryFY2024$74,180
Milton Public LibraryFY2023$13,436
Milton Public LibraryFY2022$47,221
Milton Public LibraryFY2021$57,241
Milton Public LibraryFY2020$94,978

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$124K
Ln 12
Gifts and grantsLn 1h$73K
Investment incomeLn 3$51K
Money outPt IX
$95K
Ln 25
Programscol B$47K
Managementcol C$35K
Fundraisingcol D$13K
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$161K
Total assetsLn 16$1.8M
LiabilitiesLn 26$7K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$73K
Investment incomeLn 3$51K
Gains on assetsLn 7$4K
Total revenueLn 12$124K
Assets in detailPt X, end of year
CashLn 1$161K
Cash and savings togetherLn 1–2$161K
InvestmentsLn 11–13$1.6M
Total assetsLn 16$1.8M
LiabilitiesLn 26$7K
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3More from this return
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$12K
Share of the $1.6M endowmentSch D 1g0.74%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$1.6M$1.5M$1.8M$1.4M$1.4M
AddedLn 1b$58K$125K$80K
SpentLn 1d–1f$32K$44K$10K$15K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$183K$161K
InvestmentsLn 11–13$1.5M$1.6M
Total assetsLn 16$1.7M$1.8M
LiabilitiesLn 26$52K$7K
Net assetsLn 32$1.6M$1.8M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$47K$47K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$12K$12K
Other fees for servicesLn 11g$1K$1K
Office expensesLn 13$12K$12K
Information technologyLn 14$5K$5K
InsuranceLn 23$462$462
Other expenses (24a–d)Ln 24$469$70$399
Total functional expensesLn 25$95K$47K$35K$13K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Nov 6, 2025 $198K$158K$40K$2.1M 990 PDF
FY2024Filed with the IRS Nov 6, 2024 $212K$63K$149K$2.0M 990 PDF
FY2023 ViewingFiled with the IRS Dec 6, 2023 $124K$95K$30K$1.8M 990 PDF
FY2022Filed with the IRS Sep 7, 2022 $440K$97K$343K$1.6M 990 PDF
FY2021Filed with the IRS Sep 2, 2021 $247K$139K$107K$1.8M 990 PDF

Schedules filed Part IV

A · Public support D · Assets and endowments I · Grants O · Explanations
See the full FY2023 990
Part I · Summary $124,229 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $158,647$73,383
I-9 Program service revenue$0
I-10 Investment incomePrior year $281,641$50,846
I-11 Other revenue$0
I-12 Total revenuePrior year $440,288$124,229
I-13 Grants and similar amounts paidPrior year $57,241$47,221
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $39,775$47,414
I-18 Total expensesPrior year $97,016$94,635
I-19 Revenue less expensesPrior year $343,272$29,594
Part VI · Governance 3 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $124,229 across 5 lines filed
VIII-1f All other contributions, gifts and grants$73,383
VIII-1h Total contributions, gifts and grants$73,383
VIII-3 Investment incomeExcluded from tax $46,461$46,461
VIII-7 Net gain or loss on sales of assetsRelated to mission $4,385$4,385
VIII-12 Total revenueRelated to mission $4,385 · Excluded from tax $46,461$124,229
Part IX · Statement of functional expenses $94,635 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $47,221$47,221
IX-11b Legal feesManagement $8,364$8,364
IX-11c Accounting feesManagement $7,500$7,500
IX-11f Investment management feesManagement $12,086$12,086
IX-11g Other fees for servicesManagement $1,490$1,490
IX-13 Office expensesFundraising $12,144$12,144
IX-14 Information technologyManagement $4,899$4,899
IX-23 InsuranceManagement $462$462
IX-24 Other expenses (24a–d)Management $70 · Fundraising $399$469
IX-25 Total functional expensesPrograms $47,221 · Management $34,871 · Fundraising $12,543$94,635
Part X · Balance sheet $1,796,518 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $182,827$160,750
X-11 Publicly traded securitiesStart of year $1,517,302$1,635,768
X-16 Total assetsStart of year $1,700,129$1,796,518
X-17 Accounts payable and accrued expensesStart of year $2,048$6,716
X-26 Total liabilitiesStart of year $52,048$6,716
X-27 Net assets without donor restrictionsStart of year $1,066,947$1,191,356
X-28 Net assets with donor restrictionsStart of year $581,134$598,446
X-32 Total net assets or fund balancesStart of year $1,648,081$1,789,802
X-33 Total liabilities and net assetsStart of year $1,700,129$1,796,518
Part XI · Reconciliation of net assets $1,789,802 net assets at year end
XI-1 Total revenue$124,229
XI-2 Total expenses$94,635
XI-3 Revenue less expenses$29,594
XI-4 Net assets at start of year$1,648,081
XI-5 Net unrealized gains (losses) on investments$112,127
XI-10 Net assets at end of year$1,789,802

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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