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Ashaway Free Library FY2024 filing

Tax-deductible

Ashaway, RI501(c)(3)Education EIN 05-0274531Revenue $128K in FY2024

On file with the IRSashfreelib.orgPo Box 70, 02804-0002 · Ashaway, RITax-exempt since Jul 1952Publicly supported charity — 170(b)(1)(A)(vi)

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To enrich the community by providing resources and related services and programming for personal skills, self-improvement, career advancement, cultural enjoyment, entertainment , and creative activities.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $11K a year · 8% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Plus $427K in investments, Pt X · Ln 11–13
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $2K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% 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
$128K
-10% vs prior year
Spent
$145K
To programs
64%
Net assets
$796K
By yearFY2021–FY2025
Revenue
$128K
FY2024▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2021$140K
FY2022$151K
FY2023$142K
FY2024$128K
FY2025$139K
Expenses
$145K
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2021$148K
FY2022$165K
FY2023$150K
FY2024$145K
FY2025$146K
Net assets
$796K
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2021$875K
FY2022$773K
FY2023$782K
FY2024$796K
FY2025$814K

From the FY2024 Form 990 (year ending June 2024) · see the original

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You’re viewing the FY2024 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 1952.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $94K Management & general 28% · $40K Fundraising 8% · $11K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ashaway Free 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 resources and programs for personal growth, career skills, and cultural enrichment.

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Provided by the organization

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1 program · $94K · in their own filed words · FY2023
01

Free comprehensive library services for the community; juvenile and adult education programs; inter-library and internet access and school support services.

$94Kprogram 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
Ashaway Charitable TrustFY2024$1K
Pfizer Foundation INCFY2024$580
Total grants receivedfrom 2 funders$2K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$128K
Ln 12
Gifts and grantsLn 1h$112K
Investment incomeLn 3$8K
Other incomeLn 4–11$7K
Money outPt IX
$145K
Ln 25
Programscol B$94K
Managementcol C$40K
Fundraisingcol D$11K
Owns and owesPt X
$796K
net assets · Ln 32
Cash and savingsLn 1–2$76K
Total assetsLn 16$796K
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$112K
Government grantsLn 1e$98K
Fees for servicesLn 2g$805
Investment incomeLn 3$8K
Other incomeLn 4–11$7K
Gains on assetsLn 7−$10K
Total revenueLn 12$128K
Assets in detailPt X, end of year
CashLn 1$76K
Cash and savings togetherLn 1–2$76K
InvestmentsLn 11–13$427K
Land, buildings, equipmentLn 10c$262K
Other assetsLn 15$31K
Total assetsLn 16$796K
LiabilitiesLn 26$0
Net assetsLn 32$796K
OperationsPt I, VI
EmployeesI 54
VolunteersI 612
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$76K$76K
InvestmentsLn 11–13$405K$427K
Land, buildings, equipmentLn 10c$269K$262K
Total assetsLn 16$782K$796K
LiabilitiesLn 26$0$0
Net assetsLn 32$782K$796K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$70K$32K$32K$7K
Payroll taxesLn 10$6K$3K$3K$587
Accounting feesLn 11c$500$500
Investment management feesLn 11f$2K$2K
Office expensesLn 13$4K$4K
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$37K$37K
All other expensesLn 24e$14K$7K$3K$4K
Total functional expensesLn 25$145K$94K$40K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $139K$146K−$7K$814K 990 PDF
FY2024 Viewing $128K$145K−$18K$796K 990 PDF
FY2023 $142K$150K−$8K$782K 990 PDF
FY2022 $151K$165K−$14K$773K 990 PDF
FY2021 $140K$148K−$9K$875K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $127,848 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $119,570$112,113
I-9 Program service revenuePrior year $392$805
I-10 Investment incomePrior year $21,836$8,139
I-11 Other revenuePrior year $0$6,791
I-12 Total revenuePrior year $141,798$127,848
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 $72,265$76,304
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $77,353$69,059
I-18 Total expensesPrior year $149,618$145,363
I-19 Revenue less expensesPrior year −$7,820−$17,515
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $127,848 across 8 lines filed
VIII-1e Government grants$98,100
VIII-1f All other contributions, gifts and grants$14,013
VIII-1h Total contributions, gifts and grants$112,113
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $805$805
VIII-3 Investment incomeExcluded from tax $18,341$18,341
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$10,202−$10,202
VIII-8 Net income from fundraising eventsExcluded from tax $6,791$6,791
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $15,735$127,848
Part IX · Statement of functional expenses $145,363 across 9 lines filed
IX-7 Other salaries and wagesPrograms $31,694 · Management $31,694 · Fundraising $7,043$70,431
IX-10 Payroll taxesPrograms $2,643 · Management $2,643 · Fundraising $587$5,873
IX-11c Accounting feesManagement $500$500
IX-11f Investment management feesManagement $2,057$2,057
IX-13 Office expensesPrograms $3,847$3,847
IX-22 Depreciation, depletion and amortizationPrograms $7,758$7,758
IX-23 InsurancePrograms $3,848$3,848
IX-24 Other expenses (24a–d)Programs $36,728$36,728
IX-24e All other expensesPrograms $7,188 · Management $3,480 · Fundraising $3,653$14,321
IX-25 Total functional expensesPrograms $93,706 · Management $40,374 · Fundraising $11,283$145,363
Part X · Balance sheet $795,766 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $76,214$76,383
X-10c Land, buildings and equipment, netStart of year $269,418$261,660
X-11 Publicly traded securitiesStart of year $405,356$426,815
X-15 Other assetsStart of year $30,908$30,908
X-16 Total assetsStart of year $781,896$795,766
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $781,896$795,766
X-32 Total net assets or fund balancesStart of year $781,896$795,766
X-33 Total liabilities and net assetsStart of year $781,896$795,766
Part XI · Reconciliation of net assets $795,766 net assets at year end
XI-1 Total revenue$127,848
XI-2 Total expenses$145,363
XI-3 Revenue less expenses−$17,515
XI-4 Net assets at start of year$781,896
XI-5 Net unrealized gains (losses) on investments$31,385
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$795,766

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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