Hope Library Association
- Assets
- $760.5k
- Revenue
- $85.2k
- Investments
- $0.0
- Employees
- 10
- Location
- Hope, RI
- Founding
- 02/1986
- Data as of
- 06/2022
- EIN
- 05-0462627
Organization Overview
Hope Library Association is located in Hope, RI. The organization was established in 1986. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 03/2022, Hope Library Association employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Library Association 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, Hope Library Association generated $85.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.8%) each year. All expenses for the organization totaled $83.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (16.7%) per year over the past 7 years. 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
HOPE LIBRARY MISSION STATEMENT HOPE LIBRARY WILL PROVIDE PATRONS OF ALL AGES WITH DIVERSE AND EASILY ACCESSIBLE MATERIALS, SERVICES AND PROGRAMS TO ENHANCE AND PROMOTE LIFELONG LEARNING. THE LIBRARY'S COLLECTION OFFERS A VARIETY OF FORMATS, INCLUDING PRINT AND ELECTRONIC VERSIONS, AND EMPHASIZES RECREATIONAL AND LEISURE MATERIALS. HOPE LIBRARY IS COMMITTED TO MEETING THE NEEDS OF, AND PROVIDING EQUAL ACCESS TO ALL USERS, AND ENCOURAGES THE FREE FLOW OF IDEAS IN ORDER TO EDUCATE, ENTERTAIN, ENRICH AND INFORM OUR PATRONS. SPECIAL EMPHASIS IS PLACED ON STIMULATING YOUNG CHILDREN'S INTEREST AND APPRECIATION FOR READING AND LEARNING. HOPE LIBRARY IS COMMITTED TO EXCELLENCE IN SERVICE, AND WILL MEET THE NEEDS OF THE PUBLIC THROUGH CONTINUING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING BOOKS AND READING MATERIALS IN MULTIPLE FORMATS.
COMPUTERS FOR PUBLIC USE.
OFFER A VARIETY OF PROGRAMS AND PERFORMERS TO OUR COMMUNITY.
PROVIDING BOOKS AND READING MATERIALS IN MULTIPLE FORMATS.
COMPUTERS FOR PUBLIC USE.
OFFER A VARIETY OF PROGRAMS AND PERFORMERS TO OUR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paula Dibiase Director | Officer | 35 | $69,432 |
Cora Morrigan Director | Officer | 35 | $5,000 |
Eileen Godbout Vice President | Trustee | 0 | $0 |
Brenda Gardiner President | Trustee | 0.5 | $0 |
Tammy Till Treasurer | Trustee | 0.5 | $0 |
Candie Collins Secretary | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $50 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $82,585 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,126 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $84,761 |
| Total Program Service Revenue | $0 |
| Investment income | $390 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,151 |
| 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. | $10,500 |
| Compensation of current officers, directors, key employees. | $10,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,425 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,042 |
| Payroll taxes | $3,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,347 |
| Advertising and promotion | $0 |
| Office expenses | $1,951 |
| Information technology | $4,239 |
| Royalties | $0 |
| Occupancy | $4,757 |
| 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 | $6,542 |
| Insurance | $1,327 |
| All other expenses | $0 |
| Total functional expenses | $83,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,743 |
| Savings and temporary cash investments | $215,832 |
| 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 | $395,952 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $760,527 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $699,466 |
| Net assets with donor restrictions | $61,061 |
| 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 | $760,527 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hope Library Association has recieved totaling $52.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $52 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
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 |
American Antiquarian Society Worcester, MA | $122,268,688 | $9,559,298 |
John Fitzgerald Kennedy Library Foundation Incorporated Boston, MA | $64,242,661 | $9,493,249 |
Providence Community Library Providence, RI | $3,536,568 | $6,105,940 |
Proprietors Of The Social Law Library Boston, MA | $11,132,474 | $6,079,847 |
New Canaan Library Inc New Canaan, CT | $41,940,632 | $22,594,634 |
Greenwich Library Greenwich, CT | $86,849,437 | $8,026,445 |
New Britain Institute New Britain, CT | $7,009,202 | $4,616,015 |
Stratford Library Association Stratford, CT | $5,818,496 | $3,949,796 |