North Of Boston Library Exchange Inc
- Assets
- $3.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Danvers, MA
- Founding
- 07/1986
- Data as of
- 06/2024
- EIN
- 22-2712714
Organization Overview
North Of Boston Library Exchange Inc is located in Danvers, MA. The organization was established in 1986. As of 06/2024, North Of Boston Library Exchange Inc employed 14 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 06/2024, North Of Boston Library Exchange Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $2.6m during the year ending 06/2024. While expenses have increased by 2.7% per year over the past 9 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
2024
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 |
|---|---|---|---|
Linda Cw Gardener Director | Trustee | 5 | $0 |
Amy Lannon Director | Trustee | 5 | $0 |
Allison Babin Director | Trustee | 5 | $0 |
Jonathan Nichols Director | Trustee | 5 | $0 |
Theresa Hurley Director | Trustee | 5 | $0 |
Brian Courtemanche President | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,547,377 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $344,163 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,891,540 |
| Total Program Service Revenue | $622,417 |
| Investment income | $96,117 |
| 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 | $2,611,182 |
| 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 | $800,473 |
| Pension plan accruals and contributions | $61,228 |
| Other employee benefits | $105,919 |
| Payroll taxes | $58,897 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,068 |
| Fees for services: Accounting | $11,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,959 |
| Advertising and promotion | $0 |
| Office expenses | $4,537 |
| Information technology | $384,298 |
| Royalties | $0 |
| Occupancy | $86,142 |
| Travel | $9,479 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,995 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,167 |
| Insurance | $10,010 |
| All other expenses | $403 |
| Total functional expenses | $2,599,507 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,914 |
| Savings and temporary cash investments | $698,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,748 |
| 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 | $160,857 |
| Net Land, buildings, and equipment | $121,606 |
| Investments—publicly traded securities | $1,889,793 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $120,980 |
| Total assets | $3,041,554 |
| Accounts payable and accrued expenses | $76,656 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $147,030 |
| Total liabilities | $223,686 |
| Net assets without donor restrictions | $2,519,857 |
| Net assets with donor restrictions | $298,011 |
| 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 | $3,041,554 |