Valley Cottage Free Library
- Assets
- $8.7m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 44
- Location
- Valley Cottage, NY
- Founding
- 06/1960
- Data as of
- 12/2022
- EIN
- 13-6128677
Organization Overview
Valley Cottage Free Library is located in Valley Cottage, NY. The organization was established in 1960. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2022, Valley Cottage Free Library employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Cottage Free 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 12/2022, Valley Cottage Free Library generated $2.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 8 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
PUBLIC LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC LIBRARY FOR NYACK SCHOOL DISTRICT COMMUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christy Blanchette Executive Dir. | Trustee | 40 | $125,000 |
Arlette M Mooney President | OfficerTrustee | 2 | $0 |
Herbert Lerner Trustee | Trustee | 1 | $0 |
Michael Mark Secretary | OfficerTrustee | 2 | $0 |
Melissa L Roy Trustee | Trustee | 1 | $0 |
Frank Dwyer Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,778 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,988 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,766 |
| Total Program Service Revenue | $2,408,504 |
| Investment income | $31,215 |
| 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 | $2,461,536 |
| 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. | $131,587 |
| Compensation of current officers, directors, key employees. | $111,849 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,122,036 |
| Pension plan accruals and contributions | $41,427 |
| Other employee benefits | $153,254 |
| Payroll taxes | $93,631 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,508 |
| Fees for services: Accounting | $8,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $54,698 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,681 |
| 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 | $368,957 |
| Insurance | $48,632 |
| All other expenses | $62,947 |
| Total functional expenses | $2,397,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77 |
| Savings and temporary cash investments | $4,734,072 |
| 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 | $2,540 |
| Net Land, buildings, and equipment | $3,624,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $376,022 |
| Total assets | $8,737,053 |
| Accounts payable and accrued expenses | $67,475 |
| Grants payable | $0 |
| Deferred revenue | $2,161,202 |
| 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 | $2,228,677 |
| Net assets without donor restrictions | $6,472,881 |
| Net assets with donor restrictions | $35,495 |
| 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 | $8,737,053 |