Memorial & Library Association FY2021 filing

Tax-deductible

Westerly, RI501(c)(3)EducationEIN 05-0259005

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To maintain the westerly Library, hoxie gallery and wilcox, a 15 acre arboretum.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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
2 of 6
filings with a surplus
Average deficit $209K a year · 7% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $75K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.9M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
-15% vs prior year
Spent
$2.9M
To programs
76%
Net assets
$43.4M
By yearFY2020–FY2025
Revenue
$2.4M
FY2021▼ -15%
Revenue by fiscal year
FY2020$2.8M
FY2021$2.4M
FY2022$3.1M
FY2023$2.1M
FY2024$4.0M
FY2025$2.7M
Expenses
$2.9M
FY2021▲ +2%
Expenses by fiscal year
FY2020$2.9M
FY2021$2.9M
FY2022$3.0M
FY2023$3.0M
FY2024$3.2M
FY2025$3.3M
Net assets
$43.4M
FY2021▲ +20%
Net assets by fiscal year
FY2020$36.3M
FY2021$43.4M
FY2022$37.1M
FY2023$39.6M
FY2024$43.4M
FY2025$46.2M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Jul 1944.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $2.2M Management & general 16% · $475K Fundraising 8% · $220K

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

20 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Trustee Until 9/20
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Trustee Until 9/20
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer Until 9/20
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Ex-Officio
$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.

Provided by the organization

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3 programs · $2.2M · in their own filed words · FY2020
01

Library

The library provides essential services and programs that enrich the lives of all its patrons; children of all ages are welcome, & introduced to the magic of reading; it is a center for civic pride & community; it is a thriving, busy, warm, beautiful, & welcoming place.

$2.2Mprogram expense
02

Wilcox Park

Wilcox park is a nationally significant arboretum and designed landscape, and one of the cornerstones for our sense of place in the region. It is a beautiful, private park that also serves as an outdoor 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
See all 8 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Gifts and grantsLn 1h$1.7M
Investment incomeLn 3$601K
Other incomeLn 4–11$28K
Money outPt IX
$2.9M
Ln 25
Programscol B$2.2M
Managementcol C$475K
Fundraisingcol D$220K
Owns and owesPt X
$43.4M
net assets · Ln 32
Cash and savingsLn 1–2$817K
Total assetsLn 16$45.3M
LiabilitiesLn 26$1.9M
PeoplePt VI, VII
20
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Government grantsLn 1e$1.4M
Fundraising eventsLn 1c$15K
Fees for servicesLn 2g$7K
Investment incomeLn 3$601K
Other incomeLn 4–11$28K
Gains on assetsLn 7$42K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$150K
SavingsLn 2$667K
Cash and savings togetherLn 1–2$817K
InvestmentsLn 11–13$31.1M
Land, buildings, equipmentLn 10c$7.9M
Other assetsLn 15$2.1M
Total assetsLn 16$45.3M
LiabilitiesLn 26$1.9M
Net assetsLn 32$43.4M
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
LineStart FY21End FY21
Cash and savingsLn 1–2$589K$817K
InvestmentsLn 11–13$23.0M$31.1M
Land, buildings, equipmentLn 10c$8.0M$7.9M
Total assetsLn 16$38.3M$45.3M
LiabilitiesLn 26$2.0M$1.9M
Net assetsLn 32$36.3M$43.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.3M$967K$197K$161K
Pension plan contributionsLn 8$24K$17K$5K$3K
Other employee benefitsLn 9$105K$85K$15K$6K
Payroll taxesLn 10$111K$82K$16K$13K
Management feesLn 11a$17K$17K
Legal feesLn 11b$11K$11K
Accounting feesLn 11c$97K$97K
Investment management feesLn 11f$78K$78K
Other fees for servicesLn 11g$16K$14K$985$1K
Advertising and promotionLn 12$20$20
Office expensesLn 13$6K$222$493$6K
Information technologyLn 14$94K$51K$33K$10K
OccupancyLn 16$144K$144K$120
TravelLn 17$4K$4K$448$336
InterestLn 20$81K$81K
Depreciation, depletion and amortizationLn 22$525K$522K$3K
InsuranceLn 23$46K$42K$4K$173
Other expenses (24a–d)Ln 24$219K$215K$3K$736
All other expensesLn 24e$23K$9K$11K$4K
Total functional expensesLn 25$2.9M$2.2M$475K$220K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
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 Viewing $2.4M$2.9M−$573K$43.4M 990 PDF
FY2020 $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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $2,353,119 across 11 lines filed
VIII-1c Fundraising events$15,318
VIII-1e Government grants$1,392,969
VIII-1f All other contributions, gifts and grants$308,880
VIII-1h Total contributions, gifts and grants$1,717,167
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,983$6,983
VIII-3 Investment incomeExcluded from tax $559,139$559,139
VIII-6 Net rental income or lossRelated to mission $1,970$1,970
VIII-7 Net gain or loss on sales of assetsRelated to mission −$1,604 · Excluded from tax $43,925$42,321
VIII-8 Net income from fundraising eventsExcluded from tax $6,717$6,717
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $18,822$18,822
VIII-12 Total revenueRelated to mission $7,349 · Unrelated business $0 · Excluded from tax $628,603$2,353,119
Part IX · Statement of functional expenses $2,926,348 across 19 lines filed
IX-7 Other salaries and wagesPrograms $967,059 · Management $197,416 · Fundraising $160,875$1,325,350
IX-8 Pension plan contributionsPrograms $16,693 · Management $4,963 · Fundraising $2,811$24,467
IX-9 Other employee benefitsPrograms $84,582 · Management $14,850 · Fundraising $5,551$104,983
IX-10 Payroll taxesPrograms $82,416 · Management $15,860 · Fundraising $12,863$111,139
IX-11a Management feesFundraising $16,800$16,800
IX-11b Legal feesManagement $10,551$10,551
IX-11c Accounting feesManagement $97,395$97,395
IX-11f Investment management feesManagement $77,618$77,618
IX-11g Other fees for servicesPrograms $13,876 · Management $985 · Fundraising $1,312$16,173
IX-12 Advertising and promotionFundraising $20$20
IX-13 Office expensesPrograms $222 · Management $493 · Fundraising $5,608$6,323
IX-14 Information technologyPrograms $51,174 · Management $32,957 · Fundraising $9,567$93,698
IX-16 OccupancyPrograms $143,748 · Fundraising $120$143,868
IX-17 TravelPrograms $3,652 · Management $448 · Fundraising $336$4,436
IX-20 InterestPrograms $80,671$80,671
IX-22 Depreciation, depletion and amortizationPrograms $521,763 · Management $3,177$524,940
IX-23 InsurancePrograms $41,511 · Management $4,201 · Fundraising $173$45,885
IX-24 Other expenses (24a–d)Programs $215,112 · Management $3,398 · Fundraising $736$219,246
IX-24e All other expensesPrograms $8,721 · Management $10,514 · Fundraising $3,550$22,785
IX-25 Total functional expensesPrograms $2,231,200 · Management $474,826 · Fundraising $220,322$2,926,348
Part X · Balance sheet $45,284,648 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $123,537$149,907
X-2 Savings and temporary cash investmentsStart of year $465,863$666,933
X-3 Pledges and grants receivableStart of year $5,007,020$3,224,699
X-4 Accounts receivable$4,747
X-9 Prepaid expenses and deferred chargesStart of year $25,821$112,552
X-10c Land, buildings and equipment, netStart of year $7,966,060$7,915,030
X-11 Publicly traded securitiesStart of year $22,969,269$31,081,022
X-15 Other assetsStart of year $1,776,878$2,129,758
X-16 Total assetsStart of year $38,334,448$45,284,648
X-17 Accounts payable and accrued expensesStart of year $181,783$310,664
X-26 Total liabilitiesStart of year $2,018,775$1,870,229
X-27 Net assets without donor restrictionsStart of year $21,448,297$27,916,150
X-28 Net assets with donor restrictionsStart of year $14,867,376$15,498,269
X-32 Total net assets or fund balancesStart of year $36,315,673$43,414,419
X-33 Total liabilities and net assetsStart of year $38,334,448$45,284,648
Part XI · Reconciliation of net assets $43,414,419 net assets at year end
XI-1 Total revenue$2,353,119
XI-2 Total expenses$2,926,348
XI-3 Revenue less expenses−$573,229
XI-4 Net assets at start of year$36,315,673
XI-5 Net unrealized gains (losses) on investments$7,319,095
XI-9 Other changes in net assets$352,880
XI-10 Net assets at end of year$43,414,419

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

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