Memorial & Library Association: FY2020 Nonprofit Profile & Form 990 (EIN 05-0259005)

Revenue by fiscal year
FY2020	$2.8M
FY2021	$2.4M
FY2022	$3.1M
FY2023	$2.1M
FY2024	$4.0M
FY2025	$2.7M

Expenses by fiscal year
FY2020	$2.9M
FY2021	$2.9M
FY2022	$3.0M
FY2023	$3.0M
FY2024	$3.2M
FY2025	$3.3M

Net assets by fiscal year
FY2020	$36.3M
FY2021	$43.4M
FY2022	$37.1M
FY2023	$39.6M
FY2024	$43.4M
FY2025	$46.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1944.

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

Where the money goes

79 cents of each dollar spent went to programs.

79%

15%

Program services 79% · $2.3M Management & general 15% · $439K Fundraising 6% · $167K

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

21 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Stephen McAllister

Trustee Until 9/19

$0Pt VII · Sec A

Robert Holland

Pres Then Trustee

$0Pt VII · Sec A

Susan Ogle

VP Then President

$0Pt VII · Sec A

Justin Stevenson III

Treasurer Then Trustee

$0Pt VII · Sec A

Mary M Goodman

Trustee

$0Pt VII · Sec A

William F Meyer

Trustee Then Treasurer

$0Pt VII · Sec A

Sharon Morgan

Secretary

$0Pt VII · Sec A

Deborah Bell

Trustee

$0Pt VII · Sec A

See Memorial & 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 15aYes

Programs and updates

Maintains a library, gallery, and 15-acre arboretum for public enjoyment.

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Provided by the organization

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3 programs · $2.3M · in their own filed words · FY2019

01

Library

The library provides essential services and programs thatenrich the lives of all its patrons; children are welcome, &INTRODUCED to the magic of reading; it is a center for civic pride andcommunity; it is a thriving, busy, warm, beautiful, & welcomingplace. We have 14,748 patrons with library cards & thousands ofothers without cards.

$2.3Mprogram expense

02

Wilcox Park

Wilcox park is a nationally significant arboretum anddesigned landscape, and one of the cornerstones for our sense of placein the region. It is a beautiful, private park that also serves as anoutdoor community space.

Pt IX · col B

03

Building

The building that houses westerly library is one of the mostsignificant structures in the historic district that surrounds it. Itis one of the great landmarks in rhode island and a strong example ofthe vision america had for the important role to be played by its LATE19TH century libraries in forging a new, democratic, post civil…

Pt IX · col B

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

The Rhode Island Community FoundationFY2024$29K

Fidelity Investments Charitable Gift FundFY2024$19K

The New York Community TrustFY2024$10K

James F McCormick JR TuwFY2024$7K

Donor Advised Charitable Giving INCFY2024$6K

Washington Trust Charitable FoundationFY2024$3K

Ashaway Charitable TrustFY2024$1K

Chubb Charitable FoundationFY2024$200

Total grants receivedfrom 8 funders$75K

See all 8 funders →

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.8M

Ln 12

Gifts and grantsLn 1h$2.2M

Investment incomeLn 3$536K

Other incomeLn 4–11$38K

Money outPt IX

$2.9M

Ln 25

Programscol B$2.3M

Managementcol C$439K

Fundraisingcol D$167K

Owns and owesPt X

$36.3M

net assets · Ln 32

Cash and savingsLn 1–2$589K

Total assetsLn 16$38.3M

LiabilitiesLn 26$2.0M

PeoplePt VI, VII

21

listed · VII A

PaidVII A0

Voting boardVI 1a14

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.2M

Government grantsLn 1e$1.2M

Fundraising eventsLn 1c$11K

Fees for servicesLn 2g$15K

Investment incomeLn 3$536K

Other incomeLn 4–11$38K

Gains on assetsLn 7$2K

Total revenueLn 12$2.8M

Assets in detailPt X, end of year

CashLn 1$124K

SavingsLn 2$466K

Cash and savings togetherLn 1–2$589K

InvestmentsLn 11–13$23.0M

Land, buildings, equipmentLn 10c$8.0M

Other assetsLn 15$1.8M

Total assetsLn 16$38.3M

LiabilitiesLn 26$2.0M

Net assetsLn 32$36.3M

OperationsPt I, VI

EmployeesI 549

VolunteersI 60

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$335K	$589K
InvestmentsLn 11–13	$20.2M	$23.0M
Land, buildings, equipmentLn 10c	$8.5M	$8.0M
Total assetsLn 16	$38.7M	$38.3M
LiabilitiesLn 26	$2.3M	$2.0M
Net assetsLn 32	$36.3M	$36.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$1.3M	$983K	$191K	$124K
Pension plan contributionsLn 8	$22K	$15K	$5K	$2K
Other employee benefitsLn 9	$89K	$68K	$14K	$7K
Payroll taxesLn 10	$104K	$79K	$15K	$9K
Legal feesLn 11b	$2K		$2K
Accounting feesLn 11c	$109K	$9K	$99K	$1K
Investment management feesLn 11f	$68K		$68K
Advertising and promotionLn 12	$37			$37
Office expensesLn 13	$6K	$203	$416	$6K
Information technologyLn 14	$92K	$55K	$28K	$9K
OccupancyLn 16	$160K	$160K		$100
TravelLn 17	$5K	$5K		$267
InterestLn 20	$90K	$90K
Depreciation, depletion and amortizationLn 22	$539K	$536K	$3K
InsuranceLn 23	$44K	$40K	$4K	$128
Other expenses (24a–d)Ln 24	$210K	$204K	$4K	$2K
All other expensesLn 24e	$21K	$10K	$5K	$6K
Total functional expensesLn 25	$2.9M	$2.3M	$439K	$167K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$2.7M	$3.3M	−$604K	$46.2M	990 PDF
FY2024	$4.0M	$3.2M	$762K	$43.4M	990 PDF
FY2023	$2.1M	$3.0M	−$839K	$39.6M	990 PDF
FY2022	$3.1M	$3.0M	$109K	$37.1M	990 PDF
FY2021	$2.4M	$2.9M	−$573K	$43.4M	990 PDF
FY2020 Viewing	$2.8M	$2.9M	−$108K	$36.3M	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 FY2020 990 (6 parts)

Part I · Summary $2,752,570 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $7,039,019$2,164,228

I-9 Program service revenuePrior year $25,028$14,529

I-10 Investment incomePrior year $1,969,626$535,791

I-11 Other revenuePrior year $42,550$38,022

I-12 Total revenuePrior year $9,076,223$2,752,570

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 $1,423,945$1,513,345

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $1,439,446$1,347,464

I-18 Total expensesPrior year $2,863,391$2,860,809

I-19 Revenue less expensesPrior year $6,212,832−$108,239

Part VI · Governance 14 of 14 board members independent, no flags

VI-1a Voting members of the governing body14

VI-1b Independent voting members14

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

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $2,752,570 across 11 lines filed

VIII-1c Fundraising events$11,088

VIII-1e Government grants$1,167,568

VIII-1f All other contributions, gifts and grants$985,572

VIII-1h Total contributions, gifts and grants$2,164,228

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,529$14,529

VIII-3 Investment incomeExcluded from tax $533,915$533,915

VIII-6 Net rental income or lossRelated to mission $5,139$5,139

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,876$1,876

VIII-8 Net income from fundraising eventsExcluded from tax $7,237$7,237

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $25,646$25,646

VIII-12 Total revenueRelated to mission $19,668 · Unrelated business $0 · Excluded from tax $568,674$2,752,570

Part IX · Statement of functional expenses $2,860,809 across 17 lines filed

IX-7 Other salaries and wagesPrograms $983,287 · Management $190,898 · Fundraising $123,879$1,298,064

IX-8 Pension plan contributionsPrograms $15,180 · Management $4,833 · Fundraising $2,475$22,488

IX-9 Other employee benefitsPrograms $68,158 · Management $13,973 · Fundraising $7,043$89,174

IX-10 Payroll taxesPrograms $78,910 · Management $15,227 · Fundraising $9,482$103,619

IX-11b Legal feesManagement $1,876$1,876

IX-11c Accounting feesPrograms $8,639 · Management $99,424 · Fundraising $1,284$109,347

IX-11f Investment management feesManagement $68,333$68,333

IX-12 Advertising and promotionFundraising $37$37

IX-13 Office expensesPrograms $203 · Management $416 · Fundraising $5,643$6,262

IX-14 Information technologyPrograms $55,135 · Management $27,869 · Fundraising $8,707$91,711

IX-16 OccupancyPrograms $159,593 · Fundraising $100$159,693

IX-17 TravelPrograms $5,125 · Fundraising $267$5,392

IX-20 InterestPrograms $90,292$90,292

IX-22 Depreciation, depletion and amortizationPrograms $536,074 · Management $3,303$539,377

IX-23 InsurancePrograms $39,946 · Management $3,725 · Fundraising $128$43,799

IX-24 Other expenses (24a–d)Programs $204,457 · Management $3,605 · Fundraising $2,126$210,188

IX-24e All other expensesPrograms $9,656 · Management $5,382 · Fundraising $6,119$21,157

IX-25 Total functional expensesPrograms $2,254,655 · Management $438,864 · Fundraising $167,290$2,860,809

Part X · Balance sheet $38,334,448 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $58,736$123,537

X-2 Savings and temporary cash investmentsStart of year $276,530$465,863

X-3 Pledges and grants receivableStart of year $7,829,916$5,007,020

X-4 Accounts receivableStart of year $4,445$0

X-9 Prepaid expenses and deferred chargesStart of year $22,891$25,821

X-10c Land, buildings and equipment, netStart of year $8,483,643$7,966,060

X-11 Publicly traded securitiesStart of year $20,192,788$22,969,269

X-15 Other assetsStart of year $1,789,833$1,776,878

X-16 Total assetsStart of year $38,658,782$38,334,448

X-17 Accounts payable and accrued expensesStart of year $222,319$181,783

X-26 Total liabilitiesStart of year $2,317,289$2,018,775

X-27 Net assets without donor restrictionsStart of year $21,898,771$21,448,297

X-28 Net assets with donor restrictionsStart of year $14,442,722$14,867,376

X-32 Total net assets or fund balancesStart of year $36,341,493$36,315,673

X-33 Total liabilities and net assetsStart of year $38,658,782$38,334,448

Part XI · Reconciliation of net assets $36,315,673 net assets at year end

XI-1 Total revenue$2,752,570

XI-2 Total expenses$2,860,809

XI-3 Revenue less expenses−$108,239

XI-4 Net assets at start of year$36,341,493

XI-5 Net unrealized gains (losses) on investments$95,374

XI-9 Other changes in net assets−$12,955

XI-10 Net assets at end of year$36,315,673

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Memorial & Library Association FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Memorial & Library Association

Library

Wilcox Park

Building

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV