Milton Library Foundation Inc
- Assets
- $1.7m
- Revenue
- $440.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Milton, MA
- Founding
- 06/2002
- Data as of
- 06/2022
- EIN
- 04-3614024
Organization Overview
Milton Library Foundation Inc is located in Milton, MA. The organization was established in 2002. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milton Library Foundation Inc 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 06/2022, Milton Library Foundation Inc generated $440.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $97.0k during the year ending 06/2022. While expenses have increased by 21.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAIN AND SUPPORT THE PUBLIC LIBRARY IN THE TOWN OF MILTON, MA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS FOR THE MAINTENANCE OF BUILDINGS IN THE PUBLIC LIBRARY SYSTEM IN THE TOWN OF MILTON, MA, AS WELL AS TO PROVIDE BOOKS, MATERIALS, SERVICES, AND OTHER PROGRAMS WITHIN THE LIBRARY SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessie Bourneuf President | OfficerTrustee | 4 | $0 |
Amit Mitra Treasurer | OfficerTrustee | 3 | $0 |
Michael Zullas Past Preside | OfficerTrustee | 1 | $0 |
John Hitt Clerk | OfficerTrustee | 3 | $0 |
Anne Collins Director | Trustee | 0.5 | $0 |
Joan Moynaugh Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $158,647 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,647 |
| Total Program Service Revenue | $0 |
| Investment income | $29,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $251,877 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $440,288 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $57,241 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,937 |
| Fees for services: Other | $3,586 |
| Advertising and promotion | $0 |
| Office expenses | $9,597 |
| Information technology | $4,909 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $437 |
| All other expenses | $0 |
| Total functional expenses | $97,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,827 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $1,517,302 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,700,129 |
| Accounts payable and accrued expenses | $2,048 |
| Grants payable | $50,000 |
| 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 | $52,048 |
| Net assets without donor restrictions | $1,648,081 |
| Net assets with donor restrictions | $0 |
| 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 | $1,700,129 |
Grants Awarded
Over the last fiscal year, Milton Library Foundation Inc has awarded $54,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MILTON PUBLIC LIBRARY PURPOSE: LIBRARY SUPPORT. | $54,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Milton Library Foundation Inc has recieved totaling $8,100.
| Awarding Organization | Amount |
|---|---|
The John And Mary Corcoran Family Foundation Braintree, MA PURPOSE: GENERAL SUPPORT | $7,500 |
The@sooner Foundation Stamford, CT PURPOSE: GENERAL SUPPORT | $500 |
Bernice B Godine Fam Foundation Tr Boston, MA PURPOSE: GENERAL OPERATING FUNDS | $100 |
Endowment Analysis
| Beg. Balance | $1,765,417 |
| Earnings | -$248,114 |
| Ending Balance | $1,517,303 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University At Albany Foundation Albany, NY | $129,210,800 | $17,198,773 |
Trustees Of The Public Library Of The City Of Boston Boston, MA | $99,754,907 | $16,249,859 |
Lord Foundation Of Massachusetts Inc Cambridge, MA | $0 | $665,000 |
Queens College Foundation Inc Flushing, NY | $103,882,868 | $13,972,395 |
Threefold Educational Foundation & School Chestnut Ridge, NY | $15,163,557 | $9,817,859 |
Global Community Charter School New York, NY | $4,753,919 | $12,397,044 |
Mit International Inc Cambridge, MA | $42,886,000 | $6,428,000 |
Rit Global Delivery Corporation Rochester, NY | $10,659,016 | $9,744,189 |
Concord Consortium Inc Concord, MA | $4,473,971 | $11,489,391 |
Charles E Cotting Charitable Corp Boston, MA | $113,711,021 | $14,477,400 |
The Graduate Center Foundation Inc New York, NY | $72,994,369 | $16,026,752 |
Friends Of Mcgill University Inc New Rochelle, NY | $10,774,766 | $8,029,117 |