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Malden Public Library FY2023 filing

Tax-deductible

Malden, MA501(c)(3)EIN 04-6003232Revenue $662K in FY2023

On file with the IRSmaldenpubliclibrary.org36 Salem St, 02148-5208 · Malden, MATax-exempt since Jan 1971Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Malden Public Library is to provide open access to information, promote love of reading and lifelong learning to Malden residents and all citizens of massachusetts. Founded in 1879, the Malden Public Library is a non-profit corporation with partial city support, governed by the board of trustees.

501(c)(3) charity; gifts are tax-deductible.
75¢ 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
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 $321K a year · 31% 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
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $5K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$50K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$662K
+11% vs prior year
Spent
$730K
To programs
75%
Net assets
$15.8M
By yearFY2020–FY2025
Revenue
$662K
FY2023▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$662K
FY2021$2.3M
FY2022$599K
FY2023$662K
FY2024$1.3M
FY2025$690K
Expenses
$730K
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$534K
FY2021$485K
FY2022$707K
FY2023$730K
FY2024$848K
FY2025$997K
Net assets
$15.8M
FY2023▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$15.1M
FY2021$17.6M
FY2022$15.2M
FY2023$15.8M
FY2024$17.0M
FY2025$17.9M

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

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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 Jan 1971.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $548K Management & general 25% · $182K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jayne E Brown
Vice President
$0Pt VII · Sec A
Frank M Molis
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Malden Public Library 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

Offers free access to information, books, and learning for all residents.

Questions for Malden Public Library

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Provided by the organization

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1 program · $548K · in their own filed words · FY2022
01

General library services serving the community.

$548Kprogram expense

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 · FY2024
Rose Florence Belzarine Foundation CharitableFY2024$4K
Helen R Richards Tr Uw 10 1971 00 0FY2024$400
Total grants receivedfrom 2 funders$5K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$662K
Ln 12
Gifts and grantsLn 1h$394K
Investment incomeLn 3$268K
Money outPt IX
$730K
Ln 25
Programscol B$548K
Managementcol C$182K
Owns and owesPt X
$15.8M
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$15.9M
LiabilitiesLn 26$50K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$394K
Noncash giftsLn 1g$193K
Investment incomeLn 3$268K
Gains on assetsLn 7−$66K
Total revenueLn 12$662K
Assets in detailPt X, end of year
CashLn 1$7K
Cash and savings togetherLn 1–2$7K
InvestmentsLn 11–13$12.5M
Land, buildings, equipmentLn 10c$3.3M
Total assetsLn 16$15.9M
LiabilitiesLn 26$50K
Net assetsLn 32$15.8M
OperationsPt I, VI
EmployeesI 59
VolunteersI 620
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 FY23End FY23
Cash and savingsLn 1–2$12K$7K
InvestmentsLn 11–13$11.7M$12.5M
Land, buildings, equipmentLn 10c$3.5M$3.3M
Total assetsLn 16$15.3M$15.9M
LiabilitiesLn 26$27K$50K
Net assetsLn 32$15.2M$15.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$19K$19K
Payroll taxesLn 10$1K$1K
Accounting feesLn 11c$43K$43K
Office expensesLn 13$11K$11K
Depreciation, depletion and amortizationLn 22$282K$226K$56K
InsuranceLn 23$74K$74K
Other expenses (24a–d)Ln 24$300K$228K$72K
Total functional expensesLn 25$730K$548K$182K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $690K$997K−$307K$17.9M 990 PDF
FY2024 $1.3M$848K$427K$17.0M 990 PDF
FY2023 Viewing $662K$730K−$68K$15.8M 990 PDF
FY2022 $599K$707K−$107K$15.2M 990 PDF
FY2021 $2.3M$485K$1.9M$17.6M 990 PDF
FY2020 $662K$534K$128K$15.1M 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 FY2023 990 (6 parts)
Part I · Summary $662,301 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $253,504$394,473
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $345,714$267,828
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $599,218$662,301
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $18,630$20,257
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $688,078$710,240
I-18 Total expensesPrior year $706,708$730,497
I-19 Revenue less expensesPrior year −$107,490−$68,196
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $662,301 across 6 lines filed
VIII-1f All other contributions, gifts and grants$394,473
VIII-1g Noncash contributions (included above)$193,407
VIII-1h Total contributions, gifts and grants$394,473
VIII-3 Investment incomeExcluded from tax $334,074$334,074
VIII-7 Net gain or loss on sales of assetsRelated to mission −$66,246−$66,246
VIII-12 Total revenueRelated to mission −$66,246 · Unrelated business $0 · Excluded from tax $334,074$662,301
Part IX · Statement of functional expenses $730,497 across 7 lines filed
IX-7 Other salaries and wagesPrograms $18,810$18,810
IX-10 Payroll taxesPrograms $1,447$1,447
IX-11c Accounting feesManagement $43,051$43,051
IX-13 Office expensesManagement $10,863$10,863
IX-22 Depreciation, depletion and amortizationPrograms $225,710 · Management $56,427$282,137
IX-23 InsurancePrograms $74,493$74,493
IX-24 Other expenses (24a–d)Programs $227,852 · Management $71,844$299,696
IX-25 Total functional expensesPrograms $548,312 · Management $182,185 · Fundraising $0$730,497
Part X · Balance sheet $15,890,429 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $12,213$6,501
X-3 Pledges and grants receivableStart of year $40,000$30,000
X-10c Land, buildings and equipment, netStart of year $3,547,959$3,312,340
X-11 Publicly traded securitiesStart of year $11,668,944$12,541,588
X-16 Total assetsStart of year $15,269,116$15,890,429
X-17 Accounts payable and accrued expensesStart of year $27,377$49,868
X-26 Total liabilitiesStart of year $27,377$49,868
X-27 Net assets without donor restrictionsStart of year $8,940,786$8,891,833
X-28 Net assets with donor restrictionsStart of year $6,300,953$6,948,728
X-32 Total net assets or fund balancesStart of year $15,241,739$15,840,561
X-33 Total liabilities and net assetsStart of year $15,269,116$15,890,429
Part XI · Reconciliation of net assets $15,840,561 net assets at year end
XI-1 Total revenue$662,301
XI-2 Total expenses$730,497
XI-3 Revenue less expenses−$68,196
XI-4 Net assets at start of year$15,241,739
XI-5 Net unrealized gains (losses) on investments$746,195
XI-7 Investment expenses−$79,177
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,840,561

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

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