Olean Public Library
- Assets
- $4.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 29
- Location
- Olean, NY
- Founding
- 08/1945
- Data as of
- 12/2022
- EIN
- 16-6000661
Organization Overview
Olean Public Library is located in Olean, NY. The organization was established in 1945. As of 12/2022, Olean Public Library employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olean Public 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, Olean Public Library generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 0.3% 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
TO PROVIDE EQUAL ACCESS TO MATERIALS IN VARIOUS FORMATS; PROGRAMS, SERVICES, AND PROFESSIONAL STAFF TO ASSIST ALL PEOPLE WITH THEIR EDUCATION, INFORMATIONAL AND LEISURE NEEDS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OLEAN PUBLIC LIBRARY PROVIDES BOOK-LENDING SERVICES AS WELL AS OTHER EDUCATIONAL AND INFORMATION SERVICES TO THE LOCAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle La Voie Director | 40 | $86,584 | |
Kathy Elser Treasurer | OfficerTrustee | 5 | $12,236 |
Lanna Waterman President | OfficerTrustee | 2 | $0 |
Ann Tenglund Secretary | OfficerTrustee | 2 | $0 |
Larry Sorokes Vice President | OfficerTrustee | 2 | $0 |
Patricia Shumway Finance Officer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $99,618 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,099,004 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,198,622 |
| Total Program Service Revenue | $16,140 |
| Investment income | $4,101 |
| 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 | $1,218,863 |
| 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. | $100,510 |
| Compensation of current officers, directors, key employees. | $15,076 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $547,868 |
| Pension plan accruals and contributions | $50,532 |
| Other employee benefits | $3,610 |
| Payroll taxes | $49,654 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,500 |
| Fees for services: Accounting | $24,653 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,041 |
| Advertising and promotion | $0 |
| Office expenses | $44,508 |
| Information technology | $21,512 |
| Royalties | $0 |
| Occupancy | $75,678 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,216 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,132 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,143,692 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,881,534 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $522 |
| 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 | $278,008 |
| Net Land, buildings, and equipment | $1,172,511 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $126,330 |
| Total assets | $4,458,905 |
| Accounts payable and accrued expenses | $46,836 |
| Grants payable | $0 |
| Deferred revenue | $1,317,655 |
| 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 | $463,125 |
| Total liabilities | $1,827,616 |
| Net assets without donor restrictions | $2,567,946 |
| Net assets with donor restrictions | $63,343 |
| 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 | $4,458,905 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Olean Public Library has recieved totaling $113,383.
| Awarding Organization | Amount |
|---|---|
Chautauqua-Cattaraugus Library System Jamestown, NY PURPOSE: MEMBER LIBRARY | $105,346 |
Olean Association For The Blind And Visually Handicapped Inc Olean, NY PURPOSE: DONATION FOR COMPUTERS | $8,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $37 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hartford Public Library Hartford, CT | $35,044,167 | $19,581,056 |
Great Neck Library Great Neck, NY | $34,961,861 | $11,637,861 |
Westport Library Assoc Westport, CT | $27,522,269 | $7,094,016 |
Oceanside Library Oceanside, NY | $46,476,817 | $6,978,242 |
Darien Library Inc Darien, CT | $29,008,924 | $5,931,772 |
Connetquot Public Library Bohemia, NY | $10,940,573 | $6,656,257 |
Crandall Library Glens Falls, NY | $18,989,283 | $4,650,669 |
Bryant Library Roslyn, NY | $10,311,911 | $5,190,176 |
Port Jefferson Free Library Port Jefferson, NY | $14,577,531 | $4,685,963 |
Riverhead Free Library Riverhead, NY | $9,623,554 | $4,087,006 |
Wilton Library Association Incorporated Wilton, CT | $11,356,788 | $3,701,367 |
Bergen County Cooperative Library System Inc Fair Lawn, NJ | $2,010,518 | $3,727,342 |