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Powers Library FY2021 filing

Tax-deductible

Moravia, NY501(c)(3)Education EIN 15-0564082Revenue $134K in FY2021

On file with the IRSPo Box 71, 13118-0071 · Moravia, NYTax-exempt since Apr 1978Publicly supported charity — 170(b)(1)(A)(vi)

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To provide free access to sources of information, education,and entertainment toits extended community

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $17K a year · 13% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Plus $613K in investments, Pt X · Ln 11–13
Looks good: 8.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$134K
+31% vs prior year
Spent
$128K
To programs
92%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$134K
FY2021▲ +31%
Tap a bar for its year
Revenue by fiscal year
FY2020$102K
FY2021$134K
FY2022$125K
FY2023$120K
FY2024$155K
Expenses
$128K
FY2021▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$136K
FY2021$128K
FY2022$152K
FY2023$146K
FY2024$159K
Net assets
$1.2M
FY2021▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.0M
FY2023$1.1M
FY2024$1.2M

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1978.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $117K Management & general 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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Lori Cochran
Executive Di
$0Pt VII · Sec A
Anna Krieger
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Dianne Muirhead
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Bonnie Thomas
Secretary
$0Pt VII · Sec A
See Powers 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 15aYes

Programs and updates

Offers free access to information, education, and entertainment for the community.

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Provided by the organization

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1 program · $117K · in their own filed words · FY2021
01

Library services

$117Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$134K
Ln 12
Gifts and grantsLn 1h$114K
Investment incomeLn 3$20K
Fees for servicesLn 2g$413
Money outPt IX
$128K
Ln 25
Programscol B$117K
Managementcol C$11K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$94K
Total assetsLn 16$1.2M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$114K
Government grantsLn 1e$94K
Fees for servicesLn 2g$413
Investment incomeLn 3$20K
Gains on assetsLn 7$4K
Total revenueLn 12$134K
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$60K
Cash and savings togetherLn 1–2$94K
InvestmentsLn 11–13$613K
Land, buildings, equipmentLn 10c$491K
Total assetsLn 16$1.2M
LiabilitiesLn 26$0
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 57
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$25K$94K
InvestmentsLn 11–13$621K$613K
Land, buildings, equipmentLn 10c$505K$491K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.2M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$56K$50K$6K
Payroll taxesLn 10$4K$4K$427
Accounting feesLn 11c$2K$2K$210
Investment management feesLn 11f$150$150
Office expensesLn 13$493$444$49
Information technologyLn 14$6K$6K
OccupancyLn 16$9K$8K$939
InterestLn 20$21$21
Depreciation, depletion and amortizationLn 22$30K$27K$2K
InsuranceLn 23$5K$4K$490
Other expenses (24a–d)Ln 24$16K$15K$499
Total functional expensesLn 25$128K$117K$11K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $155K$159K−$4K$1.2M 990 PDF
FY2023 $120K$146K−$26K$1.1M 990 PDF
FY2022 $125K$152K−$27K$1.0M 990 PDF
FY2021 Viewing $134K$128K$6K$1.2M 990 PDF
FY2020 $102K$136K−$34K$1.2M 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 FY2021 990 (6 parts)
Part I · Summary $133,778 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $83,683$113,646
I-9 Program service revenuePrior year $283$413
I-10 Investment incomePrior year $18,271$19,719
I-11 Other revenuePrior year −$385$0
I-12 Total revenuePrior year $101,852$133,778
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $58,523$60,029
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $77,407$68,128
I-18 Total expensesPrior year $135,930$128,157
I-19 Revenue less expensesPrior year −$34,078$5,621
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $133,778 across 7 lines filed
VIII-1e Government grants$94,131
VIII-1f All other contributions, gifts and grants$19,515
VIII-1h Total contributions, gifts and grants$113,646
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $368 · Excluded from tax $45$413
VIII-3 Investment incomeExcluded from tax $15,319$15,319
VIII-7 Net gain or loss on sales of assetsRelated to mission $4,400$4,400
VIII-12 Total revenueRelated to mission $4,768 · Excluded from tax $15,364$133,778
Part IX · Statement of functional expenses $128,157 across 11 lines filed
IX-7 Other salaries and wagesPrograms $50,187 · Management $5,576$55,763
IX-10 Payroll taxesPrograms $3,839 · Management $427$4,266
IX-11c Accounting feesPrograms $1,892 · Management $210$2,102
IX-11f Investment management feesManagement $150$150
IX-13 Office expensesPrograms $444 · Management $49$493
IX-14 Information technologyPrograms $5,752$5,752
IX-16 OccupancyPrograms $8,446 · Management $939$9,385
IX-20 InterestPrograms $21$21
IX-22 Depreciation, depletion and amortizationPrograms $27,282 · Management $2,450$29,732
IX-23 InsurancePrograms $4,409 · Management $490$4,899
IX-24 Other expenses (24a–d)Programs $15,095 · Management $499$15,594
IX-25 Total functional expensesPrograms $117,367 · Management $10,790 · Fundraising $0$128,157
Part X · Balance sheet $1,197,819 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $16,001$33,855
X-2 Savings and temporary cash investmentsStart of year $8,655$59,776
X-10c Land, buildings and equipment, netStart of year $505,336$490,954
X-11 Publicly traded securitiesStart of year $620,988$613,234
X-16 Total assetsStart of year $1,150,980$1,197,819
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,071,410$1,113,528
X-28 Net assets with donor restrictionsStart of year $79,570$84,291
X-32 Total net assets or fund balancesStart of year $1,150,980$1,197,819
X-33 Total liabilities and net assetsStart of year $1,150,980$1,197,819
Part XI · Reconciliation of net assets $1,197,819 net assets at year end
XI-1 Total revenue$133,778
XI-2 Total expenses$128,157
XI-3 Revenue less expenses$5,621
XI-4 Net assets at start of year$1,150,980
XI-5 Net unrealized gains (losses) on investments$41,218
XI-10 Net assets at end of year$1,197,819

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

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