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Oceanic Public Library Trust FY2024 filing

Tax-deductible

Rumson, NJ501(c)(3)Since 1920EIN 23-7386850Revenue $38K in FY2024

On file with the IRS109 Avenue of Two Rivers, 07760-1800 · Rumson, NJTax-exempt since Jun 1986Supporting organization — 509(a)(3)

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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.
62¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
62%
of spending
Worth a look: 62% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 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
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$38K
+94% vs prior year
Spent
$26K
To programs
62%
Net assets
$650K
By yearFY2021–FY2025
Revenue
$38K
FY2024▲ +94%
Tap a bar for its year
Revenue by fiscal year
FY2021$68K
FY2022$26K
FY2023$20K
FY2024$38K
FY2025$35K
Expenses
$26K
FY2024▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2021$20K
FY2022$30K
FY2023$21K
FY2024$26K
FY2025$28K
Net assets
$650K
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2021$679K
FY2022$554K
FY2023$618K
FY2024$650K
FY2025$702K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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

62 cents of each dollar spent went to programs.

Program services 62% · $16K Management & general 38% · $10K

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

8 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
$0Pt VII · Sec A
$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.

Questions for Oceanic Public Library Trust

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Provided by the organization

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1 program · $16K · in their own filed words · FY2024
01

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

$16Kprogram 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 FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$38K
Ln 12
Investment incomeLn 3$38K
Gifts and grantsLn 1h$200
Other incomeLn 4–11$42
Money outPt IX
$26K
Ln 25
Programscol B$16K
Managementcol C$10K
Owns and owesPt X
$650K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$650K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$200
Investment incomeLn 3$38K
Other incomeLn 4–11$42
Gains on assetsLn 7$20K
Total revenueLn 12$38K
Assets in detailPt X, end of year
SavingsLn 2$13K
Cash and savings togetherLn 1–2$13K
InvestmentsLn 11–13$637K
Total assetsLn 16$650K
LiabilitiesLn 26$0
Net assetsLn 32$650K
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 FY24End FY24
Cash and savingsLn 1–2$12K$13K
InvestmentsLn 11–13$606K$637K
Total assetsLn 16$618K$650K
LiabilitiesLn 26$0$0
Net assetsLn 32$618K$650K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$16K$16K
Accounting feesLn 11c$1K$1K
Investment management feesLn 11f$9K$9K
Total functional expensesLn 25$26K$16K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $35K$28K$7K$702K 990 PDF
FY2024 Viewing $38K$26K$12K$650K 990 PDF
FY2023 $20K$21K−$1K$618K 990 PDF
FY2022 $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 FY2024 990 (6 parts)
Part I · Summary $37,921 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,500$200
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $17,066$37,679
I-11 Other revenuePrior year $0$42
I-12 Total revenuePrior year $19,566$37,921
I-13 Grants and similar amounts paidPrior year $11,610$16,312
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 $9,410$9,937
I-18 Total expensesPrior year $21,020$26,249
I-19 Revenue less expensesPrior year −$1,454$11,672
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $37,921 across 6 lines filed
VIII-1f All other contributions, gifts and grants$200
VIII-1h Total contributions, gifts and grants$200
VIII-3 Investment incomeExcluded from tax $17,855$17,855
VIII-7 Net gain or loss on sales of assetsExcluded from tax $19,824$19,824
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $42$42
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $37,721$37,921
Part IX · Statement of functional expenses $26,249 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $16,312$16,312
IX-11c Accounting feesManagement $1,300$1,300
IX-11f Investment management feesManagement $8,637$8,637
IX-25 Total functional expensesPrograms $16,312 · Management $9,937 · Fundraising $0$26,249
Part X · Balance sheet $650,242 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $12,256$13,433
X-11 Publicly traded securitiesStart of year $606,149$636,809
X-16 Total assetsStart of year $618,405$650,242
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $618,405$650,242
X-33 Total liabilities and net assetsStart of year $618,405$650,242
Part XI · Reconciliation of net assets $650,242 net assets at year end
XI-1 Total revenue$37,921
XI-2 Total expenses$26,249
XI-3 Revenue less expenses$11,672
XI-4 Net assets at start of year$618,405
XI-5 Net unrealized gains (losses) on investments$20,165
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$650,242

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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