Clark Memorial Library FY2024 filing

Tax-deductible

Carolina, RI501(c)(3)Since 1995EducationEIN 05-6011438Revenue $241K in FY2024

On file with the IRSclarklib.orgPo Box 190, 02812-0190 · Carolina, RITax-exempt since Aug 1978Publicly supported charity — 170(b)(1)(A)(vi)

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Library Services

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
$40K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
4 of 6
filings with a surplus
Average surplus $17K a year · 8% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$40K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $26K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$241K
+28% vs prior year
Spent
$187K
To programs
67%
Net assets
$577K
By yearFY2020–FY2025
Revenue
$241K
FY2024▲ +28%
Tap a bar for its year
Revenue by fiscal year
FY2020$220K
FY2021$180K
FY2022$192K
FY2023$188K
FY2024$241K
FY2025$198K
Expenses
$187K
FY2024▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$174K
FY2021$169K
FY2022$191K
FY2023$197K
FY2024$187K
FY2025$202K
Net assets
$577K
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$504K
FY2021$581K
FY2022$541K
FY2023$545K
FY2024$577K
FY2025$600K

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 Aug 1978.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $126K Management & general 32% · $61K Fundraising 1% · $950

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

8 people listed on the 990; $40K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$40,280Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Lynn Thompson’s $39K as Director is at the 30th percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lynn Thompson$39,332$40,280$40,821$38,207$36,738$36,367

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Clark Memorial Library is an education nonprofit based in Carolina, RI, formed in 1995.

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Provided by the organization

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1 program · $126K · in their own filed words · FY2023
01

To provide library services to the community and meeting rooms for residents of the Town of Richmond, Rhode Island.

$126Kprogram 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 · FY2025
Total grants receivedfrom 1 funder$26K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$241K
Ln 12
Gifts and grantsLn 1h$173K
Investment incomeLn 3$63K
Other incomeLn 4–11$4K
Money outPt IX
$187K
Ln 25
Programscol B$126K
Managementcol C$61K
Fundraisingcol D$950
Owns and owesPt X
$577K
net assets · Ln 32
Cash and savingsLn 1–2$73K
Total assetsLn 16$584K
LiabilitiesLn 26$7K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$173K
Government grantsLn 1e$134K
Fees for servicesLn 2g$967
Investment incomeLn 3$63K
Other incomeLn 4–11$4K
Gains on assetsLn 7$52K
Total revenueLn 12$241K
Assets in detailPt X, end of year
CashLn 1$73K
SavingsLn 2$0
Cash and savings togetherLn 1–2$73K
InvestmentsLn 11–13$351K
Land, buildings, equipmentLn 10c$125K
Other assetsLn 15$29K
Total assetsLn 16$584K
LiabilitiesLn 26$7K
Net assetsLn 32$577K
OperationsPt I, VI
EmployeesI 58
VolunteersI 63
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$61K$73K
InvestmentsLn 11–13$324K$351K
Land, buildings, equipmentLn 10c$136K$125K
Total assetsLn 16$549K$584K
LiabilitiesLn 26$3K$7K
Net assetsLn 32$545K$577K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$40K$40K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$53K$53K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$8K$5K$3K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$4K$4K
Other fees for servicesLn 11g$1K$613$467
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$22K$22K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$16K$16K
InsuranceLn 23$4K$3K$135
Other expenses (24a–d)Ln 24$42K$42K
All other expensesLn 24e−$4K$200−$5K$950
Total functional expensesLn 25$187K$126K$61K$950

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $198K$202K−$4K$600K 990 PDF
FY2024 Viewing $241K$187K$54K$577K 990 PDF
FY2023 $188K$197K−$9K$545K 990 PDF
FY2022 $192K$191K$2K$541K 990 PDF
FY2021 $180K$169K$12K$581K 990 PDF
FY2020 $220K$174K$46K$504K 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 FY2024 990 (6 parts)
Part I · Summary $241,261 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $181,852$173,326
I-9 Program service revenuePrior year $1,206$967
I-10 Investment incomePrior year $1,557$62,522
I-11 Other revenuePrior year $3,171$4,446
I-12 Total revenuePrior year $187,786$241,261
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $98,936$101,235
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $97,812$86,166
I-18 Total expensesPrior year $196,748$187,401
I-19 Revenue less expensesPrior year −$8,962$53,860
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $241,261 across 10 lines filed
Lines not itemized here account for $4,446 of total revenue; see the IRS return.
VIII-1e Government grants$134,206
VIII-1f All other contributions, gifts and grants$39,120
VIII-1h Total contributions, gifts and grants$173,326
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $967$967
VIII-3 Investment incomeRelated to mission $10,874$10,874
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $51,648$51,648
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $63,489 · Excluded from tax $4,446$241,261
Part IX · Statement of functional expenses $187,401 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $40,280$40,280
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $52,926$52,926
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $4,559 · Management $3,470$8,029
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $1,625$1,625
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $4,065$4,065
IX-11g Other fees for servicesPrograms $613 · Management $467$1,080
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $21,657$21,657
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $16,076$16,076
IX-23 InsurancePrograms $3,457 · Management $135$3,592
IX-24 Other expenses (24a–d)Programs $42,352$42,352
IX-24e All other expensesPrograms $200 · Management −$5,431 · Fundraising $950−$4,281
IX-25 Total functional expensesPrograms $125,764 · Management $60,687 · Fundraising $950$187,401
Part X · Balance sheet $584,131 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $60,869$73,473
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $727$5,247
X-10c Land, buildings and equipment, netStart of year $135,746$125,153
X-11 Publicly traded securitiesStart of year $323,837$351,124
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $27,481$29,134
X-16 Total assetsStart of year $548,660$584,131
X-17 Accounts payable and accrued expensesStart of year $3,207$6,722
X-26 Total liabilitiesStart of year $3,207$6,722
X-27 Net assets without donor restrictionsStart of year $545,453$577,409
X-32 Total net assets or fund balancesStart of year $545,453$577,409
X-33 Total liabilities and net assetsStart of year $548,660$584,131
Part XI · Reconciliation of net assets $577,409 net assets at year end
XI-1 Total revenue$241,261
XI-2 Total expenses$187,401
XI-3 Revenue less expenses$53,860
XI-4 Net assets at start of year$545,453
XI-5 Net unrealized gains (losses) on investments−$21,904
XI-10 Net assets at end of year$577,409

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

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