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Oceanic Public Library Trust FY2022 filing

Tax-deductible

Rumson, NJ501(c)(3)Since 1920EIN 23-7386850

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Organization was established for the maintenance of the Oceanic free Library located in rumson, NJ.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
3 of 5
filings with a surplus
Average surplus $12K a year · 32% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.4 months of spending in cash; 3 or more.
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
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$26K
-62% vs prior year
Spent
$30K
To programs
73%
Net assets
$554K
By yearFY2021–FY2025
Revenue
$26K
FY2022▼ -62%
Revenue by fiscal year
FY2021$68K
FY2022$26K
FY2023$20K
FY2024$38K
FY2025$35K
Expenses
$30K
FY2022▲ +48%
Expenses by fiscal year
FY2021$20K
FY2022$30K
FY2023$21K
FY2024$26K
FY2025$28K
Net assets
$554K
FY2022▼ -18%
Net assets by fiscal year
FY2021$679K
FY2022$554K
FY2023$618K
FY2024$650K
FY2025$702K

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 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 Jun 1986.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $22K Management & general 27% · $8K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Ty Olson
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Carl a Reiss
President and Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Oceanic Public Library Trust 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 15aNo

Programs and updates

Oceanic Public Library Trust is a supporting organization based in Rumson, NJ, formed in 1920.

Provided by the organization

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1 program · $22K · in their own filed words · FY2022
01

Maintenance of the oceanic free library located in rumson, NJ.

$22Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2021
Jacob L Reiss FoundationFY2021$5K
Total grants receivedfrom 1 funder$5K
Grants paid · 5 grants · $80K · 2021–2025
Oceanic Free Library AssociationNJ · FY2025$17,855
Oceanic Free Library AssociationNJ · FY2024$16,312
Oceanic Free Library AssociationNJ · FY2023$11,610
Oceanic Free Library AssociationNJ · FY2022$22,050
Oceanic Free Library AssociationNJ · FY2021$11,725

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$26K
Ln 12
Gifts and grantsLn 1h$25K
Investment incomeLn 3$542
Other incomeLn 4–11$23
Money outPt IX
$30K
Ln 25
Programscol B$22K
Managementcol C$8K
Owns and owesPt X
$554K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$554K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Investment incomeLn 3$542
Other incomeLn 4–11$23
Gains on assetsLn 7−$11K
Total revenueLn 12$26K
Assets in detailPt X, end of year
SavingsLn 2$13K
Cash and savings togetherLn 1–2$13K
InvestmentsLn 11–13$541K
Total assetsLn 16$554K
LiabilitiesLn 26$0
Net assetsLn 32$554K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderDecember
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 FY22End FY22
Cash and savingsLn 1–2$45K$13K
InvestmentsLn 11–13$634K$541K
Total assetsLn 16$679K$554K
LiabilitiesLn 26$0$0
Net assetsLn 32$679K$554K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$22K$22K
Investment management feesLn 11f$8K$8K
Total functional expensesLn 25$30K$22K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $35K$28K$7K$702K 990 PDF
FY2024 $38K$26K$12K$650K 990 PDF
FY2023 $20K$21K−$1K$618K 990 PDF
FY2022 Viewing $26K$30K−$5K$554K 990 PDF
FY2021 $68K$20K$48K$679K 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 FY2022 990 (5 parts)
Part I · Summary $25,565 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $32,100$25,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $35,844$542
I-11 Other revenuePrior year $0$23
I-12 Total revenuePrior year $67,944$25,565
I-13 Grants and similar amounts paidPrior year $11,725$22,050
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,657$8,033
I-18 Total expensesPrior year $20,382$30,083
I-19 Revenue less expensesPrior year $47,562−$4,518
Part VIII · Statement of revenue $25,565 across 6 lines filed
VIII-1f All other contributions, gifts and grants$25,000
VIII-1h Total contributions, gifts and grants$25,000
VIII-3 Investment incomeExcluded from tax $11,607$11,607
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$11,065−$11,065
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $23$23
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $565$25,565
Part IX · Statement of functional expenses $30,083 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $22,050$22,050
IX-11f Investment management feesManagement $8,033$8,033
IX-25 Total functional expensesPrograms $22,050 · Management $8,033 · Fundraising $0$30,083
Part X · Balance sheet $554,103 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $44,890$13,450
X-11 Publicly traded securitiesStart of year $633,887$540,653
X-16 Total assetsStart of year $678,777$554,103
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $678,777$554,103
X-33 Total liabilities and net assetsStart of year $678,777$554,103
Part XI · Reconciliation of net assets $554,103 net assets at year end
XI-1 Total revenue$25,565
XI-2 Total expenses$30,083
XI-3 Revenue less expenses−$4,518
XI-4 Net assets at start of year$678,777
XI-5 Net unrealized gains (losses) on investments−$120,156
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$554,103

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

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