Nantucket Atheneum
- Assets
- $30.4m
- Revenue
- $3.3m
- Investments
- $28.3m
- Employees
- 38
- Location
- Nantucket, MA
- Founding
- 12/1943
- Data as of
- 12/2021
- EIN
- 04-2104412
Organization Overview
Nantucket Atheneum is located in Nantucket, MA. The organization was established in 1943. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2021, Nantucket Atheneum employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nantucket Atheneum is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Nantucket Atheneum generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. While expenses have increased by 0.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NANTUCKET ATHENEUM MAINTAINS CIRCULATING, CHILDREN'S, AND RESEARCH LIBRARIES AS WELL AS AN EXTENSIVE COLLECTION OF ARTWORK AND EXHIBITS ON DISPLAY TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PUBLIC LIBRARY FOR THE TOWN OF NANTUCKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Scott Executive Director | Officer | 40 | $193,400 |
Margaret O'reilly Development Director | 40 | $142,398 | |
Lincoln Thurber Head Reference Librarian | 40 | $102,878 | |
Ashley Christ-Haigh Finance Manager | Officer | 25 | $29,773 |
Jane Tyler Secretary | OfficerTrustee | 2 | $0 |
Samuel A Flax Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $525,228 |
| Related organizations | $0 |
| Government grants | $756,742 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,124,997 |
| Noncash contributions included in lines 1a–1f | $41,908 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,406,967 |
| Total Program Service Revenue | $2,617 |
| Investment income | $636,435 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $373,079 |
| Net Income from Fundraising Events | -$179,188 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,253,368 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $223,173 |
| Compensation of current officers, directors, key employees. | $107,133 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,070,582 |
| Pension plan accruals and contributions | $24,398 |
| Other employee benefits | $191,117 |
| Payroll taxes | $103,596 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $81,871 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,729 |
| Fees for services: Other | $9,796 |
| Advertising and promotion | $35,121 |
| Office expenses | $49,193 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $462,674 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,696 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $257,275 |
| Insurance | $0 |
| All other expenses | $32,432 |
| Total functional expenses | $2,820,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,870 |
| Savings and temporary cash investments | $604,347 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $512,500 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,038,149 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $28,278,220 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,435,086 |
| Accounts payable and accrued expenses | $272,061 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $272,061 |
| Net assets without donor restrictions | $22,629,066 |
| Net assets with donor restrictions | $7,533,959 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,435,086 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Nantucket Atheneum has recieved totaling $6,500.
| Awarding Organization | Amount |
|---|---|
Ross Foundation Lynchburg, VA PURPOSE: ANNUAL APPEAL | $5,000 |
Mountain Laurel Foundation Wilmington, DE PURPOSE: GENERAL PURPOSES | $1,000 |
Judith B Phelan And Richard S Phelan Fam Foundation Inc Germantown, NY PURPOSE: GENERAL PURPOSE | $500 |
Endowment Analysis
| Beg. Balance | $15,057,004 |
| Earnings | $2,117,453 |
| Net Contributions | $4,924 |
| Other Expense | $814,000 |
| Ending Balance | $16,365,381 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
Publishers International Linking Association Inc Lynnfield, MA | $16,437,833 | $11,352,834 |
Springfield Museums Corporation Springfield, MA | $83,263,430 | $9,886,411 |
Providence Public Library Providence, RI | $36,987,936 | $6,478,555 |
Westchester Library System Elmsford, NY | $6,787,041 | $7,508,558 |
American Antiquarian Society Worcester, MA | $122,268,688 | $9,559,298 |