Wayne County Public Library INC FY2023 filing

Tax-deductible

Goldsboro, NC501(c)(3)EducationEIN 56-0530244Revenue $430K in FY2023

On file with the IRSwcpl.orgPo Box 10091, 27532-0091 · Goldsboro, NCTax-exempt since May 1945Publicly supported charity — 170(b)(1)(A)(vi)

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Enrichment for Library programming.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
4 of 5
filings with a surplus
Average surplus $190K a year · 58% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 24.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
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
$430K
+170% vs prior year
Spent
$89K
To programs
70%
Net assets
$2.5M
By yearFY2021–FY2025
Revenue
$430K
FY2023▲ +170%
Tap a bar for its year
Revenue by fiscal year
FY2021$505K
FY2022$159K
FY2023$430K
FY2024$159K
FY2025$396K
Expenses
$89K
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2021$62K
FY2022$86K
FY2023$89K
FY2024$259K
FY2025$201K
Net assets
$2.5M
FY2023▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.3M
FY2022$2.0M
FY2023$2.5M
FY2024$2.6M
FY2025$3.0M

From the FY2023 Form 990 (year ending June 2023) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1945.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $63K Management & general 29% · $26K Fundraising 0% · $344

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wayne County Public Library INC 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

Supports libraries with resources and activities to enhance their programs.

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1 program · $58K · in their own filed words · FY2022
01

Enrichment for library programming.

$58Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$430K
Ln 12
Gifts and grantsLn 1h$352K
Investment incomeLn 3$68K
Other incomeLn 4–11$11K
Money outPt IX
$89K
Ln 25
Programscol B$63K
Managementcol C$26K
Fundraisingcol D$344
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$179K
Total assetsLn 16$2.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$352K
Investment incomeLn 3$68K
Other incomeLn 4–11$11K
Total revenueLn 12$430K
Assets in detailPt X, end of year
SavingsLn 2$179K
Cash and savings togetherLn 1–2$179K
InvestmentsLn 11–13$2.3M
Total assetsLn 16$2.5M
LiabilitiesLn 26$0
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$182K$179K
InvestmentsLn 11–13$1.8M$2.3M
Total assetsLn 16$2.0M$2.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.0M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$850$850
Other fees for servicesLn 11g$9K$5K$5K
Advertising and promotionLn 12$344$344
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$76K$58K$18K
Total functional expensesLn 25$89K$63K$26K$344

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $396K$201K$196K$3.0M 990 PDF
FY2024 $159K$259K−$100K$2.6M 990 PDF
FY2023 Viewing $430K$89K$341K$2.5M 990 PDF
FY2022 $159K$86K$73K$2.0M 990 PDF
FY2021 $505K$62K$443K$2.3M 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 FY2023 990 (6 parts)
Part I · Summary $430,171 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $36,019$351,964
I-9 Program service revenue$0
I-10 Investment incomePrior year $113,140$67,571
I-11 Other revenuePrior year $10,128$10,636
I-12 Total revenuePrior year $159,287$430,171
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $86,218$89,196
I-18 Total expensesPrior year $86,218$89,196
I-19 Revenue less expensesPrior year $73,069$340,975
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $430,171 across 6 lines filed
VIII-1d Related organizations$350,968
VIII-1f All other contributions, gifts and grants$996
VIII-1h Total contributions, gifts and grants$351,964
VIII-3 Investment incomeRelated to mission $67,571$67,571
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,636$10,636
VIII-12 Total revenueRelated to mission $78,207$430,171
Part IX · Statement of functional expenses $89,196 across 5 lines filed
IX-11c Accounting feesManagement $850$850
IX-11g Other fees for servicesPrograms $4,650 · Management $4,649$9,299
IX-12 Advertising and promotionFundraising $344$344
IX-23 InsuranceManagement $2,481$2,481
IX-24 Other expenses (24a–d)Programs $58,079 · Management $18,143$76,222
IX-25 Total functional expensesPrograms $62,729 · Management $26,123 · Fundraising $344$89,196
Part X · Balance sheet $2,478,551 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $182,410$179,146
X-4 Accounts receivableStart of year $721$1,905
X-11 Publicly traded securitiesStart of year $1,808,373$2,297,500
X-16 Total assetsStart of year $1,991,504$2,478,551
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $183,132$181,051
X-28 Net assets with donor restrictionsStart of year $1,808,372$2,297,500
X-32 Total net assets or fund balancesStart of year $1,991,504$2,478,551
X-33 Total liabilities and net assetsStart of year $1,991,504$2,478,551
Part XI · Reconciliation of net assets $2,478,551 net assets at year end
XI-1 Total revenue$430,171
XI-2 Total expenses$89,196
XI-3 Revenue less expenses$340,975
XI-4 Net assets at start of year$1,991,504
XI-5 Net unrealized gains (losses) on investments$146,072
XI-10 Net assets at end of year$2,478,551

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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