Waverly Free Library FY2020 filing

Tax-deductible

Waverly, NY501(c)(3)EducationEIN 15-0592911Revenue $113K in FY2020

On file with the IRS18 Elizabeth St, 14892-1311 · Waverly, NYTax-exempt since Dec 1979Publicly supported charity — 170(b)(1)(A)(vi)

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To provide patrons of all ages with a friendly atmosphere for access to various categories of multimedia materials and Library services.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$50K 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

FY2020 · 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 $39K a year · 28% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$50K
to officers and key staff · 31% of spending
Concern: pay to officers and key staff is 31% of spending; over 30%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$113K
Spent
$160K
To programs
74%
Net assets
$753K
By yearFY2020–FY2024
Revenue
$113K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$113K
FY2021$305K
FY2022$71K
FY2023$44K
FY2024$151K
Expenses
$160K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$160K
FY2021$173K
FY2022$198K
FY2023$162K
FY2024$183K
Net assets
$753K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$753K
FY2021$871K
FY2022$611K
FY2023$574K
FY2024$501K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 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 Dec 1979.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $118K Management & general 25% · $39K Fundraising 2% · $3K

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; $50K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$49,712Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Rebecca Grace’s $44K as Director is at the 35th 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2020
Chris Brewster———$49,712
Rebecca Grace$44,495$41,102$33,741—

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers friendly access to diverse multimedia and library services for all ages.

Questions for Waverly Free Library

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Provided by the organization

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1 program · $118K · in their own filed words · FY2020
01

General library services

$118Kprogram 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
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$113K
Ln 12
Gifts and grantsLn 1h$69K
Investment incomeLn 3$43K
Fees for servicesLn 2g$1K
Money outPt IX
$160K
Ln 25
Programscol B$118K
Managementcol C$39K
Fundraisingcol D$3K
Owns and owesPt X
$753K
net assets · Ln 32
Cash and savingsLn 1–2$12K
Total assetsLn 16$755K
LiabilitiesLn 26$2K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$69K
Government grantsLn 1e$49K
Fees for servicesLn 2g$1K
Investment incomeLn 3$43K
Other incomeLn 4–11$541
Gains on assetsLn 7$15K
Total revenueLn 12$113K
Assets in detailPt X, end of year
CashLn 1$12K
Cash and savings togetherLn 1–2$12K
InvestmentsLn 11–13$743K
Total assetsLn 16$755K
LiabilitiesLn 26$2K
Net assetsLn 32$753K
OperationsPt I, VI
EmployeesI 55
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2K$12K
InvestmentsLn 11–13$765K$743K
Total assetsLn 16$767K$755K
LiabilitiesLn 26$3K$2K
Net assetsLn 32$764K$753K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$50K$37K$10K$2K
Other salaries and wagesLn 7$27K$26K$810$0
Payroll taxesLn 10$7K$5K$921$197
Accounting feesLn 11c$508$0$508$0
Investment management feesLn 11f$10K$0$10K$0
Office expensesLn 13$11K$0$11K$0
OccupancyLn 16$13K$12K$1K$0
TravelLn 17$42$42$0$0
Conferences, conventions and meetingsLn 19$45$45$0$0
InsuranceLn 23$6K$222$5K$8
Other expenses (24a–d)Ln 24$34K$34K$0$0
All other expensesLn 24e$4K$4K$219$0
Total functional expensesLn 25$160K$118K$39K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $151K$183K−$32K$501K 990 PDF
FY2023 $44K$162K−$118K$574K 990 PDF
FY2022 $71K$198K−$128K$611K 990 PDF
FY2021 $305K$173K$132K$871K 990 PDF
FY2020 Viewing $113K$160K−$47K$753K 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 $112,968 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $60,784$68,637
I-9 Program service revenuePrior year $4,510$1,078
I-10 Investment incomePrior year $42,669$42,712
I-11 Other revenuePrior year $547$541
I-12 Total revenuePrior year $108,510$112,968
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $103,786$82,978
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $83,947$77,136
I-18 Total expensesPrior year $187,733$160,114
I-19 Revenue less expensesPrior year −$79,223−$47,146
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $112,968 across 9 lines filed
VIII-1a Federated campaigns$500
VIII-1e Government grants$48,979
VIII-1f All other contributions, gifts and grants$19,158
VIII-1h Total contributions, gifts and grants$68,637
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$1,078
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $27,320$27,320
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $15,392$15,392
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $541 · Unrelated business $0 · Excluded from tax $0$541
VIII-12 Total revenueRelated to mission $1,619 · Unrelated business $0 · Excluded from tax $42,712$112,968
Part IX · Statement of functional expenses $160,114 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $37,284 · Management $9,942 · Fundraising $2,486$49,712
IX-7 Other salaries and wagesPrograms $25,879 · Management $810 · Fundraising $0$26,689
IX-10 Payroll taxesPrograms $5,459 · Management $921 · Fundraising $197$6,577
IX-11c Accounting feesPrograms $0 · Management $508 · Fundraising $0$508
IX-11f Investment management feesPrograms $0 · Management $9,723 · Fundraising $0$9,723
IX-13 Office expensesPrograms $0 · Management $10,634 · Fundraising $0$10,634
IX-16 OccupancyPrograms $11,616 · Management $1,291 · Fundraising $0$12,907
IX-17 TravelPrograms $42 · Management $0 · Fundraising $0$42
IX-19 Conferences, conventions and meetingsPrograms $45 · Management $0 · Fundraising $0$45
IX-23 InsurancePrograms $222 · Management $5,363 · Fundraising $8$5,593
IX-24 Other expenses (24a–d)Programs $33,558 · Management $0 · Fundraising $0$33,558
IX-24e All other expensesPrograms $3,907 · Management $219 · Fundraising $0$4,126
IX-25 Total functional expensesPrograms $118,012 · Management $39,411 · Fundraising $2,691$160,114
Part X · Balance sheet $754,874 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $1,585$11,679
X-11 Publicly traded securitiesStart of year $765,433$743,195
X-16 Total assetsStart of year $767,018$754,874
X-17 Accounts payable and accrued expensesStart of year $2,650$1,881
X-26 Total liabilitiesStart of year $2,650$1,881
X-27 Net assets without donor restrictionsStart of year $764,368$752,993
X-32 Total net assets or fund balancesStart of year $764,368$752,993
X-33 Total liabilities and net assetsStart of year $767,018$754,874
Part XI · Reconciliation of net assets $752,993 net assets at year end
XI-1 Total revenue$112,968
XI-2 Total expenses$160,114
XI-3 Revenue less expenses−$47,146
XI-4 Net assets at start of year$764,368
XI-5 Net unrealized gains (losses) on investments$35,771
XI-10 Net assets at end of year$752,993

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

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