North Of Boston Library Exchange Inc
- Assets
- $2.6m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 12
- Location
- Danvers, MA
- Founding
- 07/1986
- Data as of
- 06/2022
- EIN
- 22-2712714
Organization Overview
North Of Boston Library Exchange Inc is located in Danvers, MA. The organization was established in 1986. As of 06/2022, North Of Boston Library Exchange Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Of Boston Library Exchange 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, North Of Boston Library Exchange Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.5m during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 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
THE TECHNOLOGY PARTNER FOR LIBRARIES NORTH OF BOSTON. IT IS A COOPERATIVE EFFORT OF 25 AREA LIBRARIES FOUNDED TO IMPROVE LIBRARY SERVICE THROUGH AUTOMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL EXPENSES INCURRED IN DEVELOPMENT/MAINTENANCE OF COMPUTER SUPPORTED NETWORK. ALLOWS MEMBERS CATALOG/RESEARCH DATABASE OF BOOKS,PERIODICALS, MEDIA AND ELECTRONIC RESOURCES THAT ARE AVAILABLE FROM EACH LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Gagnon Executive Director | 37.5 | $125,039 | |
Elizabeth Thomsen Member Services Mgr | 37.5 | $107,632 | |
Brian Courtemanche Vice President | Officer | 10 | $0 |
Theresa Hurley Clerk | Officer | 10 | $0 |
Amy Lannon President | Officer | 10 | $0 |
Myron Schirer-Suter Treasurer | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,570,933 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $289,854 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,839 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,882,626 |
| Total Program Service Revenue | $538,551 |
| Investment income | $80,102 |
| 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 | $2,501,521 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $820,173 |
| Pension plan accruals and contributions | $66,811 |
| Other employee benefits | $65,498 |
| Payroll taxes | $60,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $309 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,248 |
| Advertising and promotion | $0 |
| Office expenses | $4,000 |
| Information technology | $400,601 |
| Royalties | $0 |
| Occupancy | $125,121 |
| Travel | $4,741 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,286 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,118 |
| Insurance | $13,442 |
| All other expenses | $593 |
| Total functional expenses | $2,495,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,579 |
| Savings and temporary cash investments | $1,155,442 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,085 |
| 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 | $76,951 |
| Net Land, buildings, and equipment | $124,475 |
| Investments—publicly traded securities | $1,142,783 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,254 |
| Total assets | $2,577,569 |
| Accounts payable and accrued expenses | $112,392 |
| Grants payable | $0 |
| Deferred revenue | $1,286 |
| 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 | $55,000 |
| Total liabilities | $168,678 |
| Net assets without donor restrictions | $2,382,279 |
| Net assets with donor restrictions | $26,612 |
| 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 | $2,577,569 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that North Of Boston Library Exchange Inc has recieved totaling $23,166.
| Awarding Organization | Amount |
|---|---|
Essex County Community Foundation Incorporated Danvers, MA | | $23,125 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $41 |
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 |
Wallingford Public Library Assoc Wallingford, CT | $3,324,792 | $3,497,111 |