Young Mens Institute Library
- Assets
- $1.2m
- Revenue
- $174.6k
- Investments
- $367.2k
- Employees
- 0
- Location
- New Haven, CT
- Founding
- 01/1972
- Data as of
- 09/2023
- EIN
- 06-0646756
Organization Overview
Young Mens Institute Library is located in New Haven, CT. The organization was established in 1972. According to its NTEE Classification (B70) the organization is classified as: Libraries, 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. Young Mens Institute Library 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 09/2023, Young Mens Institute Library generated $174.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $218.8k during the year ending 09/2023. While expenses have increased by 19.9% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINING LIBRARY AND PROVIDING LIBRARY SERVICES INCLUDING MISCELLANEOUS PROGRAM COSTS TO ITS MEMBERSHIP AND THE COMMUNITY.
THE INSTITUTE HAS CREATED THE SOCIAL JUSTICE READER, A FELLOWSHIP OPPORTUNITY FOR NEW HAVEN HIGH SCHOOL STUDENTSOF AFRICAN AMERICAN OR AFRICAN DESCENT TO EXPLORE RACE ASA SOCIAL CONSTRUCT, RACIAL JUSTICE AND RACISM FROM THE DISCIPLINARY PERSPECTIVE OF THEIR CHOICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bennett Lovett-Graff Board Member | 3 | $0 | |
Laura Boyer Building Committee Chair | 1 | $0 | |
Andrew Drabkin Board Member | 0.5 | $0 | |
Jared Clark Board Member | 0.5 | $0 | |
Joshua Mamis Board Member | 0.5 | $0 | |
Maryann Ott Board Chair | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $103,374 |
| Interest on Savings | $1,137 |
| Dividends & Interest | $1,465 |
| Net Rental Income | $15,091 |
| Net Gain on Sale of Assets | $8,491 |
| Capital Gain Net Income | $8,491 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $20,822 |
| Total Revenue | $174,567 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $23,730 |
| Other employee salaries and wages | $46,134 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,326 |
| Depreciation | $13,932 |
| Occupancy | $52,598 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $60,738 |
| Total operating and administrative expenses | $218,766 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $218,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $186,649 |
| Savings and temporary cash investments | $100,614 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $203,267 |
| Investments—mortgage loans | $0 |
| Investments—other | $362,655 |
| Net Land, buildings, and equipment | $364,630 |
| Other assets | $4,054 |
| Total assets | $1,226,373 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $9,267 |
| Total liabilities | $9,267 |