Providence Athenaeum
- Assets
- $16.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Providence, RI
- Founding
- 02/1973
- Data as of
- 06/2021
- EIN
- 05-0258928
Organization Overview
Providence Athenaeum is located in Providence, RI. The organization was established in 1973. As of 06/2021, Providence Athenaeum employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Athenaeum 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 06/2021, Providence Athenaeum generated $2.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $1.5m during the year ending 06/2021. While expenses have increased by 4.2% per year over the past 6 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 PROVIDENCE ATHENAEUM IS AN INDEPENDENT MEMBER-SUPPORTED LIBRARY AND CULTURAL CENTER, FOUNDED IN 1836 AND OPEN TO THE PUBLIC. HAVING ALWAYS BEEN ORGANIZED AS A CULTURAL INSTITUTION FOR THE BENEFIT OF THE ENTIRE COMMUNITY, THE ATHENAEUM OBTAINED RECOGNITION AS A NOT-FOR-PROFIT 501(C)(3) ORGANIZATION IN THE 1970S. TODAY IT CONTINUES TO FULFILL THE INTENTION OF ITS FOUNDERS BY OFFERING A BROAD RANGE OF SERVICES TO A DIVERSE PUBLIC, WITH NEARLY 16,000 VISITORS IN 2020-21, MORE THAN 1,000 OF WHOM SUPPORT THE LIBRARY DIRECTLY THROUGH MEMBERSHIP AND DONATIONS. THE COLLECTIONS, PROGRAMMING AND THE SERVICES WE PROVIDE ARE OF PRIMARY INTEREST TO LOCAL AS WELL AS NATIONAL SCIENTISTS, AUTHORS, EDUCATORS, MUSICIANS, ACTORS, POETS, ARTISTS, AND JOURNALISTS FROM ALL WALKS OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CIRCULATING LIBRARY: THE PROVIDENCE ATHENAEUM HAS ALWAYS BEEN DEDICATED TO SERVING THE GENERAL READER AND PUBLIC. THE LIBRARY HOUSES SOME 175,000 BOOKS, INCLUDING CONTEMPORARY TITLES AND MATERIALS ON CD AND DVD. THE ATHENAEUM SELECTS THE BEST PUBLISHED LITERATURE, FICTION AND NON-FICTION AVAILABLE EACH YEAR IN A VARIETY OF SUBJECTS FOR THE INFORMED READER. OUR COLLECTIONS ARE ACCESSIBLE ONSITE AND THROUGH AN AUTOMATED CATALOGING SYSTEM, AND A CONTINUALLY UPDATED WEBSITE. DURING FISCAL YEAR 2020-21, WE ADDED 1,489 ITEMS, CIRCULATED 20,339 ITEMS,ANSWERED 71 REFERENCE QUESTIONS AND CONDUCTED 21 RESEARCH APPOINTMENTS.
PUBLIC PROGRAMS: THE PROVIDENCE ATHENAEUM OFFERS YEAR-ROUND CHILDREN'S PROGRAMS, INCLUDING STORY HOURS, ARTS AND CRAFTS, AND SEASONAL EVENTS. ADULTS ALSO ENJOY A VARIETY OF LIVELY PROGRAMS SUCH AS POETRY READINGS, LECTURES ON TRAVEL, CONTEMPORARY ISSUES AND THE ARTS. DURING FISCAL YEAR 2020-21, WE HOSTED 12 CHILDREN'S EVENTS WITH 205 ATTENDING,151 ADULT PROGRAMS WITH 9,645 ATTENDING AND CURATED 2 EXHIBITS AND 50 TOURS.
HISTORIC PRESERVATION OF COLLECTIONS AND BUILDING: THE ATHENAEUM'S COLLECTIONS AND HISTORIC BUILDING ARE MAINTAINED IN THE SPIRIT OF ITS FOUNDERS IN ORDER TO ENRICH THE LIVES OF ALL WHO ENTER ITS GRANITE WALLS. THE ATHENAEUM, KNOWN BY ITS HANDSOME GREEK REVIVAL BUILDING, MAINTAINS SPECIAL COLLECTIONS THAT ARE VALUABLE AND RARE. OUR COLLECTIONS HIGHLIGHT THE STRENGTHS OF THE PROVIDENCE ATHENAEUM AND ITS ANTECEDENTS SINCE 1753, IN DOCUMENTING THE HISTORY OF THE BOOK AND BOOK CULTURE IN PROVIDENCE DURING THE 18TH AND 19TH CENTURIES. THE BUILDING & GROUNDS COMMITTEE, A BOARD COMMITTEE OVERSEES THE BUILDING, FURNISHINGS, AND GROUNDS OF THE PROVIDENCE ATHENAEUM, PRIORITIZES THE NEED FOR ELECTIVE REPAIRS OR CHANGES AND MAKES RECOMMENDATIONS TO THE BOARD OF DIRECTORS ON HOW TO PROCEED.
CIRCULATING LIBRARY: THE PROVIDENCE ATHENAEUM HAS ALWAYS BEEN DEDICATED TO SERVING THE GENERAL READER AND PUBLIC. THE LIBRARY HOUSES SOME 175,000 BOOKS, INCLUDING CONTEMPORARY TITLES AND MATERIALS ON CD AND DVD. THE ATHENAEUM SELECTS THE BEST PUBLISHED LITERATURE, FICTION AND NON-FICTION AVAILABLE EACH YEAR IN A VARIETY OF SUBJECTS FOR THE INFORMED READER. OUR COLLECTIONS ARE ACCESSIBLE ONSITE AND THROUGH AN AUTOMATED CATALOGING SYSTEM, AND A CONTINUALLY UPDATED WEBSITE. DURING FISCAL YEAR 2020-21, WE ADDED 1,489 ITEMS, CIRCULATED 20,339 ITEMS,ANSWERED 71 REFERENCE QUESTIONS AND CONDUCTED 21 RESEARCH APPOINTMENTS.
PUBLIC PROGRAMS: THE PROVIDENCE ATHENAEUM OFFERS YEAR-ROUND CHILDREN'S PROGRAMS, INCLUDING STORY HOURS, ARTS AND CRAFTS, AND SEASONAL EVENTS. ADULTS ALSO ENJOY A VARIETY OF LIVELY PROGRAMS SUCH AS POETRY READINGS, LECTURES ON TRAVEL, CONTEMPORARY ISSUES AND THE ARTS. DURING FISCAL YEAR 2020-21, WE HOSTED 12 CHILDREN'S EVENTS WITH 205 ATTENDING,151 ADULT PROGRAMS WITH 9,645 ATTENDING AND CURATED 2 EXHIBITS AND 50 TOURS.
HISTORIC PRESERVATION OF COLLECTIONS AND BUILDING: THE ATHENAEUM'S COLLECTIONS AND HISTORIC BUILDING ARE MAINTAINED IN THE SPIRIT OF ITS FOUNDERS IN ORDER TO ENRICH THE LIVES OF ALL WHO ENTER ITS GRANITE WALLS. THE ATHENAEUM, KNOWN BY ITS HANDSOME GREEK REVIVAL BUILDING, MAINTAINS SPECIAL COLLECTIONS THAT ARE VALUABLE AND RARE. OUR COLLECTIONS HIGHLIGHT THE STRENGTHS OF THE PROVIDENCE ATHENAEUM AND ITS ANTECEDENTS SINCE 1753, IN DOCUMENTING THE HISTORY OF THE BOOK AND BOOK CULTURE IN PROVIDENCE DURING THE 18TH AND 19TH CENTURIES. THE BUILDING & GROUNDS COMMITTEE, A BOARD COMMITTEE OVERSEES THE BUILDING, FURNISHINGS, AND GROUNDS OF THE PROVIDENCE ATHENAEUM, PRIORITIZES THE NEED FOR ELECTIVE REPAIRS OR CHANGES AND MAKES RECOMMENDATIONS TO THE BOARD OF DIRECTORS ON HOW TO PROCEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Burriesci Executive Director | Officer | 40 | $120,205 |
Bradford Gibbs Director From 12/3/20; Treasurer Through 12/3/20 | OfficerTrustee | 1 | $0 |
Karen Jessup Director From 12/3/20; Secretary Through 12/3/20 | OfficerTrustee | 1 | $0 |
Suzanne Scanlan Secretary From 12/3/20; Director Through 12/3/20 | OfficerTrustee | 1 | $0 |
Tom Bryson Treasurer From 12/3/20; Director Through 12/3/20 | OfficerTrustee | 1 | $0 |
Jonathan Bell President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $180,565 |
| Fundraising events | $17,928 |
| Related organizations | $0 |
| Government grants | $4,896 |
| All other contributions, gifts, grants, and similar amounts not included above | $946,887 |
| Noncash contributions included in lines 1a–1f | $45,992 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,150,276 |
| Total Program Service Revenue | $22,022 |
| Investment income | $188,760 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,400 |
| Net Gain/Loss on Asset Sales | $595,205 |
| Net Income from Fundraising Events | -$2,871 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,203,845 |
| 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. | $147,568 |
| Compensation of current officers, directors, key employees. | $67,881 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $557,828 |
| Pension plan accruals and contributions | $25,849 |
| Other employee benefits | $32,645 |
| Payroll taxes | $50,462 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,888 |
| Fees for services: Investment Management | $73,996 |
| Fees for services: Other | $16,124 |
| Advertising and promotion | $27,472 |
| Office expenses | $33,053 |
| Information technology | $31,199 |
| Royalties | $0 |
| Occupancy | $235,731 |
| Travel | $151 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,965 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $100,186 |
| Insurance | $43,926 |
| All other expenses | $0 |
| Total functional expenses | $1,480,585 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $782,709 |
| Savings and temporary cash investments | $136,001 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $130,461 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,781 |
| Prepaid expenses and deferred charges | $22,099 |
| Net Land, buildings, and equipment | $1,923,647 |
| Investments—publicly traded securities | $13,166,689 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,166,387 |
| Accounts payable and accrued expenses | $63,080 |
| Grants payable | $0 |
| Deferred revenue | $10,644 |
| 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 | $133,417 |
| Other liabilities | $0 |
| Total liabilities | $207,141 |
| Net assets without donor restrictions | $12,787,149 |
| Net assets with donor restrictions | $3,172,097 |
| 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 | $16,166,387 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Providence Athenaeum has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Robert Cummings Family Foundation Providence, RI PURPOSE: TO SUPPORT CHARITABLE MISSION | $500 |
Endowment Analysis
| Beg. Balance | $10,858,109 |
| Earnings | $2,831,276 |
| Net Contributions | $1,075 |
| Other Expense | $523,772 |
| Ending Balance | $13,166,688 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hartford Public Library Hartford, CT | $35,044,167 | $19,581,056 |
Westport Library Assoc Westport, CT | $27,522,269 | $7,094,016 |
Darien Library Inc Darien, CT | $29,008,924 | $5,931,772 |
Wilton Library Association Incorporated Wilton, CT | $11,356,788 | $3,701,367 |
Wallingford Public Library Assoc Wallingford, CT | $3,324,792 | $3,497,111 |
Farmington Village Green And Library Assoc Farmington, CT | $13,374,438 | $3,538,139 |
Ridgefield Library Association Inc Ridgefield, CT | $24,615,900 | $3,459,736 |
Memorial & Library Association Westerly, RI | $38,501,613 | $3,083,300 |
Newport Public Library Newport, RI | $5,561,089 | $2,744,004 |
Trustees Of The Forbes Library Northampton, MA | $10,232,224 | $2,847,127 |
North Of Boston Library Exchange Inc Danvers, MA | $2,577,569 | $2,501,521 |
Gloucester Lyceum And Sawyer Free Library Gloucester, MA | $8,720,959 | $2,330,297 |