Waverly Free Library: FY2022 Nonprofit Profile & Form 990 (EIN 15-0592911)

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

Name	FY2024	FY2023	FY2022	FY2020
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.

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1 program · $129K · in their own filed words · FY2022

01

General library services

$129Kprogram 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

Finger Lakes Library SystemsFY2024$5K

Total grants receivedfrom 1 funder$5K

By the numbers

The FY2022 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$71K

Ln 12

Gifts and grantsLn 1h$58K

Investment incomeLn 3$11K

Fees for servicesLn 2g$1K

Money outPt IX

$198K

Ln 25

Programscol B$129K

Managementcol C$67K

Fundraisingcol D$3K

Owns and owesPt X

$611K

net assets · Ln 32

Cash and savingsLn 1–2$11K

Total assetsLn 16$612K

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$58K

Government grantsLn 1e$38K

Fees for servicesLn 2g$1K

Investment incomeLn 3$11K

Gains on assetsLn 7−$16K

Total revenueLn 12$71K

Assets in detailPt X, end of year

CashLn 1$11K

Cash and savings togetherLn 1–2$11K

InvestmentsLn 11–13$602K

Total assetsLn 16$612K

LiabilitiesLn 26$2K

Net assetsLn 32$611K

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

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$6K	$11K
InvestmentsLn 11–13	$867K	$602K
Total assetsLn 16	$873K	$612K
LiabilitiesLn 26	$2K	$2K
Net assetsLn 32	$871K	$611K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$84K	$71K	$10K	$2K
Payroll taxesLn 10	$8K	$6K	$911	$228
Legal feesLn 11b	$36K	$0	$36K	$0
Investment management feesLn 11f	$8K	$0	$8K	$0
Office expensesLn 13	$4K	$0	$4K	$0
Information technologyLn 14	$4K	$4K	$0	$0
OccupancyLn 16	$12K	$11K	$1K	$0
InsuranceLn 23	$6K	$2K	$4K	$55
Other expenses (24a–d)Ln 24	$34K	$34K	$0	$0
All other expensesLn 24e	$3K	$266	$3K	$0
Total functional expensesLn 25	$198K	$129K	$67K	$3K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$151K	$183K	−$32K	$501K	990 PDF
FY2023	$44K	$162K	−$118K	$574K	990 PDF
FY2022 Viewing	$71K	$198K	−$128K	$611K	990 PDF
FY2021	$305K	$173K	$132K	$871K	990 PDF
FY2020	$113K	$160K	−$47K	$753K	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 FY2022 990 (6 parts)

Part I · Summary $70,757 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $245,613$58,313

I-9 Program service revenuePrior year $486$1,235

I-10 Investment incomePrior year $59,312$11,209

I-11 Other revenuePrior year $79$0

I-12 Total revenuePrior year $305,490$70,757

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $92,468$91,388

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $80,914$106,918

I-18 Total expensesPrior year $173,382$198,306

I-19 Revenue less expensesPrior year $132,108−$127,549

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 $70,757 across 9 lines filed

VIII-1a Federated campaigns$500

VIII-1e Government grants$37,540

VIII-1f All other contributions, gifts and grants$20,273

VIII-1h Total contributions, gifts and grants$58,313

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$1,235

VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $27,275$27,275

VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax −$16,066−$16,066

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $0$0

VIII-12 Total revenueRelated to mission $1,235 · Unrelated business $0 · Excluded from tax $11,209$70,757

Part IX · Statement of functional expenses $198,306 across 10 lines filed

IX-7 Other salaries and wagesPrograms $71,250 · Management $10,240 · Fundraising $2,301$83,791

IX-10 Payroll taxesPrograms $6,458 · Management $911 · Fundraising $228$7,597

IX-11b Legal feesPrograms $0 · Management $35,518 · Fundraising $0$35,518

IX-11f Investment management feesPrograms $0 · Management $8,215 · Fundraising $0$8,215

IX-13 Office expensesPrograms $0 · Management $3,782 · Fundraising $0$3,782

IX-14 Information technologyPrograms $4,243 · Management $0 · Fundraising $0$4,243

IX-16 OccupancyPrograms $10,794 · Management $1,199 · Fundraising $0$11,993

IX-23 InsurancePrograms $1,544 · Management $4,441 · Fundraising $55$6,040

IX-24 Other expenses (24a–d)Programs $33,956 · Management $0 · Fundraising $0$33,956

IX-24e All other expensesPrograms $266 · Management $2,905 · Fundraising $0$3,171

IX-25 Total functional expensesPrograms $128,511 · Management $67,211 · Fundraising $2,584$198,306

Part X · Balance sheet $612,440 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $6,148$10,526

X-11 Publicly traded securitiesStart of year $866,659$601,914

X-16 Total assetsStart of year $872,807$612,440

X-17 Accounts payable and accrued expensesStart of year $1,941$1,861

X-26 Total liabilitiesStart of year $1,941$1,861

X-27 Net assets without donor restrictionsStart of year $870,866$610,579

X-32 Total net assets or fund balancesStart of year $870,866$610,579

X-33 Total liabilities and net assetsStart of year $872,807$612,440

Part XI · Reconciliation of net assets $610,579 net assets at year end

XI-1 Total revenue$70,757

XI-2 Total expenses$198,306

XI-3 Revenue less expenses−$127,549

XI-4 Net assets at start of year$870,866

XI-5 Net unrealized gains (losses) on investments−$132,738

XI-10 Net assets at end of year$610,579

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Waverly Free Library FY2022 filing

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