Exeter Library Association EIN 23-2968716 Form 990 (PDF) Claim this org

Exeter Library Association FY2021 filing

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Offers free learning, recreation, and nearly 500 programs for all ages. For fiscal year 2021 it reported $513K in revenue, $456K in expenses, and $533K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Reading, PA
Website
www.berks.lib.pa.us/sxt
Filings
5 on file (2020–2021)
Revenue
$513KFY2021
Expenses
$456K
Net assets
$533K
People
9
Filings
5
Updates
0
More identity details & actions ⌄
EIN  23-2968716 Public charity (501(c)(3)) Reading, PA
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Offers free learning, recreation, and nearly 500 programs for all ages.
Leadership
Ibrahim Bangura · Trustee
Money in and out
$513K revenue, $456K expenses
Bottom line
88% program efficiency
Where the money goes · FY2021
Total revenue
$513K
Pt VIII · Ln 12
Total expenses
$456K
Pt IX · Ln 25
Net assets
$533K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $57K
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.11 Fundraising $0.01
Program efficiency
88%
of spending reaches programs
Operating runway
4.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+11%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$513K
FY2021▲ +6%
Expenses
$456K
FY2021▲ +2%
Total assets
$533K
FY2021▲ +12%
Total liabilities
$0
FY2021
Total revenue
$513K
Pt VIII · Ln 12
Total expenses
$456K
Pt IX · Ln 25
Net assets
$533K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$57K
Total assetsPt X · Ln 16$533K
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $403K of program spending, described in the organization's own filed words · FY2021.
01

Maintain and regulate a free public library for the community of exeter township.

$403Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CExeter Library Association
EINHdr · item D23-2968716
Principal addressHdr · item CReading, PA
WebsiteHdr · item Jwww.berks.lib.pa.us/sxt
Year of formationHdr · item Lpending
State of legal domicileHdr · item MPA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B701)
Ruling yearIRS BMFJun 1999

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Exeter Library Association executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$503K · 98%
Program service revenue$7K · 1%
Other revenue$3K · 1%
Contributions & grants98%$503K
Program service revenue1%$7K
Other revenue1%$3K
Investment income$30
— government grantsLn 1e$408K
Total revenueLn 12$513K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.11 Fundraising $0.01
Program services88%$403K
Management & general11%$49K
Fundraising1%$4K
Total functional expensesLn 25$456K

Balance Sheet

Part X · end of year
CashLn 1$173K
Total assetsLn 16$533K
Total liabilitiesLn 26$0
Total net assetsLn 32$533K
Months of cash on handcomputed4.6

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $173K · Operating expenses/yr $456K
4.6 months
Where the money goes
Program services
Program services $403K · Total expenses $456K
88%
Management & General
Management & general $49K · Total expenses $456K
11%
Fundraising
Fundraising $4K · Total expenses $456K
0.9%
Cost to raise $1
Fundraising expense (2-yr avg) $4K · Solicited contributions (2-yr avg) $84K
$0.05 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $503K · Total revenue $513K
98%
Government reliance
Government grants $408K · Total revenue $513K
80%
Earned-income share
Program service revenue $7K · Total revenue $513K
1%
Investment reliance
Investment income $30 · Total revenue $513K
<0.01%
Program self-sufficiency
Program service revenue $7K · Total expenses $456K
2%
Growth & trend
Revenue growth (YoY)
This year $513K · Prior year $486K
+6%
Net-asset trend (YoY)
End of year $533K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $513K · Expenses $456K
+11%
Liabilities-to-Assets
Total liabilities — · Total assets $533K
Net-asset ratio
Net assets $533K · Total assets $533K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $533K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ibrahim Bangura · Reported title TRUSTEE · Highest reported compensation $0 · Total expenses $456K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $232K · Total expenses $456K
51%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%
Overhead ratio 11%
Fundraising cost ratio 0.8%
Revenue growth 6%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$250

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$653K revenue · ⤓ 990 PDF
FY2023$630K revenue · ⤓ 990 PDF
FY2022$622K revenue · ⤓ 990 PDF
FY2021$513K revenue · viewing · ⤓ 990 PDF
FY2020$486K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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