Palmer Public Library Association INC EIN 27-1884169

Palmer Public Library Association INC FY2020 filing

EIN  27-1884169 Public charity (501(c)(3)) Palmer, MA Founded 1919
Form 990 (PDF)
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Size
$1–10M
What they do
Offers books, internet, and programs to enrich community life.
Leadership
Kelley Sasur · President
Money in and out
$396K revenue, $373K expenses
Bottom line
93% program efficiency

Offers books, internet, and programs to enrich community life. For fiscal year 2020 it reported $396K in revenue, $373K in expenses, and $952K in net assets.Pt I

Where the money goes · FY2020
Total revenue
$396K
Pt VIII · Ln 12
Total expenses
$373K
Pt IX · Ln 25
Net assets
$952K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $23K
Where spending went · Part IX cols B–D
Program services $0.93 Management & general $0.07
Program efficiency
93%
of spending reaches programs
Operating runway
23.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$396K
FY2020
Expenses
$373K
FY2020
Total assets
$952K
FY2020
Total liabilities
$0
FY2020
Total revenue
$396K
Pt VIII · Ln 12
Total expenses
$373K
Pt IX · Ln 25
Net assets
$952K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$23K
Total assetsPt X · Ln 16$952K
Program-expense ratioPt IX · col B93%
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 $348K of program spending, described in the organization's own filed words · FY2019.
01

The library provides literary and artistic books, periodicals and materials to thousands of individuals and has held numerous workshops, speeches and book signings.

$348Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPalmer Public Library Association INC
EINHdr · item D27-1884169
Principal addressHdr · item CPalmer, MA
WebsiteHdr · item Jwww.palmer.lib.ma.us
Year of formationHdr · item L1919
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B70)
Ruling yearIRS BMFOct 2010

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 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice-Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Palmer Public Library Association INC executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$359K · 91%
Investment income$20K · 5%
Program service revenue$17K · 4%
Contributions & grants91%$359K
Investment income5%$20K
Program service revenue4%$17K
— government grantsLn 1e$354K
Total revenueLn 12$396K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.07
Program services93%$348K
Management & general7%$25K
Total functional expensesLn 25$373K

Balance Sheet

Part X · end of year
CashLn 1$249K
Total assetsLn 16$952K
Total liabilitiesLn 26$0
Total net assetsLn 32$952K
Months of cash on handcomputed8.0

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $737K · Operating expenses/yr $373K
23.7 months
Where the money goes
Program services
Program services $348K · Total expenses $373K
93%
Management & General
Management & general $25K · Total expenses $373K
7%
Fundraising
Fundraising $0 · Total expenses $373K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $5K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $359K · Total revenue $396K
91%
Government reliance
Government grants $354K · Total revenue $396K
89%
Earned-income share
Program service revenue $17K · Total revenue $396K
4%
Investment reliance
Investment income $20K · Total revenue $396K
+5%
Program self-sufficiency
Program service revenue $17K · Total expenses $373K
5%
Growth & trend
Revenue growth (YoY)
This year $396K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $952K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $396K · Expenses $373K
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $952K
Net-asset ratio
Net assets $952K · Total assets $952K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $488K · Total assets (Pt X, ln 16) $952K
51%
People & payroll
Highest Reported Total Compensation
Individual Kelley Sasur · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $373K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $373K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 93%
Overhead ratio 7%
Fundraising cost ratio 0%
Investment management fee ratio 1%
Legal fee ratio 3%
Accounting fee ratio 1%

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 · FY2024
Total grants receivedfrom 1 funder$211K

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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)$1.2M revenue · ⤓ 990 PDF
FY2023$966K revenue · ⤓ 990 PDF
FY2022$938K revenue · ⤓ 990 PDF
FY2021$888K revenue · ⤓ 990 PDF
FY2020$396K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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