Belmont Library Foundation Inc
- Assets
- $1.1m
- Revenue
- $429.4k
- Investments
- $942.5k
- Employees
- 0
- Location
- Belmont, MA
- Founding
- 02/2005
- Data as of
- 06/2022
- EIN
- 20-1798600
Organization Overview
Belmont Library Foundation Inc is located in Belmont, MA. The organization was established in 2005. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Belmont Library Foundation Inc 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, Belmont Library Foundation Inc generated $429.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 64.1% each year . All expenses for the organization totaled $53.1k during the year ending 06/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S LARGEST DIRECT CHARITABLE ACTIVITY IS TO RAISE FUNDS FOR THE CONSTRUCTION OF A NEW LIBRARY IN THE TOWN OF BELMONT, MASSACHUSETTS. THE EFFORT IS PRIMARILY FUND RAISING AND PROMOTION OF THE PROJECT AMONG CITIZENS OF BELMONT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Sugarman Director | 2 | $0 | |
Marcie Hirsch President | 2 | $0 | |
Clair Colburn Director | 2 | $0 | |
Ellen Schreiber Vice Preside | 2 | $0 | |
Larry Link Director | 2 | $0 | |
Marsha Semuels Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $161,480 |
| Interest on Savings | $0 |
| Dividends & Interest | $26,895 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $241,067 |
| Capital Gain Net Income | $241,067 |
| Net ST Capital Gain | $17,287 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $429,442 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,777 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $37,977 |
| Total operating and administrative expenses | $53,062 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $53,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $178,131 |
| 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 | $271 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $942,531 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $67 |
| Total assets | $1,121,000 |
| Accounts payable and accrued expenses | $3,252 |
| 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 | $0 |
| Total liabilities | $3,252 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Belmont Library Foundation Inc has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Analog Devices Foundation Boston, MA PURPOSE: GENERAL SUPPORT | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University At Albany Foundation Albany, NY | $129,210,800 | $17,198,773 |
Trustees Of The Public Library Of The City Of Boston Boston, MA | $99,754,907 | $16,249,859 |
Lord Foundation Of Massachusetts Inc Cambridge, MA | $0 | $665,000 |
Queens College Foundation Inc Flushing, NY | $103,882,868 | $13,972,395 |
Threefold Educational Foundation & School Chestnut Ridge, NY | $15,163,557 | $9,817,859 |
Global Community Charter School New York, NY | $4,753,919 | $12,397,044 |
Mit International Inc Cambridge, MA | $42,886,000 | $6,428,000 |
Rit Global Delivery Corporation Rochester, NY | $10,659,016 | $9,744,189 |
Concord Consortium Inc Concord, MA | $4,473,971 | $11,489,391 |
Charles E Cotting Charitable Corp Boston, MA | $113,711,021 | $14,477,400 |
The Graduate Center Foundation Inc New York, NY | $72,994,369 | $16,026,752 |
Friends Of Mcgill University Inc New Rochelle, NY | $10,774,766 | $8,029,117 |