Mountain Lakes Free Public Library
- Assets
- $3.4m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 16
- Location
- Mountain Lakes, NJ
- Founding
- 06/1980
- Data as of
- 12/2021
- EIN
- 22-6002122
Organization Overview
Mountain Lakes Free Public Library is located in Mountain Lakes, NJ. The organization was established in 1980. As of 12/2021, Mountain Lakes Free Public Library employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mountain Lakes Free 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 12/2021, Mountain Lakes Free Public Library generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $339.0k during the year ending 12/2021. While expenses have increased by 2.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MOUNTAIN LAKES FREE PUBLIC LIBRARY IS TO PROVIDE FREE ACCESS TO BOOKS, PERIODICALS, MAGAZINES, AUDIO, VIDEO, DIGITAL AND INTERNET MEDIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONAL EXPENSES OF A FREE PUBLIC LIBRARY BY PROVIDING FREE ACCESS TO BOOKS, PERIODICALS, MAGAZINES, AUDIO, VIDEO, DIGITAL AND INTERNET MEDIA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Lynch Manager | 40 | $54,932 | |
Jonathan Holasek President | Officer | 5 | $0 |
Sandy Batty Vice President | Officer | 10 | $0 |
Gretchen Hilton Secretary | Officer | 5 | $0 |
David Span Treasurer | Officer | 10 | $0 |
Doren Greene Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $310,991 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,210 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $362,201 |
| Total Program Service Revenue | $8,424 |
| Investment income | $26,140 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $632,398 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,029,163 |
| 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. | $54,932 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,738 |
| Pension plan accruals and contributions | $1,500 |
| Other employee benefits | $0 |
| Payroll taxes | $16,535 |
| Fees for services: Management | $2,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,144 |
| Information technology | $3,220 |
| Royalties | $0 |
| Occupancy | $7,752 |
| Travel | $0 |
| 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 | $22,133 |
| Insurance | $0 |
| All other expenses | $10,845 |
| Total functional expenses | $339,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,902 |
| Savings and temporary cash investments | $1,252,785 |
| 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 | $0 |
| Net Land, buildings, and equipment | $240,683 |
| Investments—publicly traded securities | $1,866,772 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,410,142 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $363,173 |
| Net assets with donor restrictions | $3,046,969 |
| 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 | $3,410,142 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mountain Lakes Free Public Library has recieved totaling $450.
| Awarding Organization | Amount |
|---|---|
Select Equity Group Foundation New York, NY PURPOSE: MATCHING GIFT | $300 |
The Baruch Fund Jordan J Baruch Park Ridge, NJ PURPOSE: GENERAL USE | $150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Great Neck Library Great Neck, NY | $34,961,861 | $11,637,861 |
Oceanside Library Oceanside, NY | $46,476,817 | $6,978,242 |
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 |
Bergen County Cooperative Library System Inc Fair Lawn, NJ | $2,010,518 | $3,727,342 |
Franklin Township Public Library Association Somerset, NJ | $10,614,091 | $3,884,927 |
South Country Library Bellport, NY | $8,624,076 | $4,821,217 |
Bethlehem Area Public Library Bethlehem, PA | $2,187,158 | $3,094,855 |
Nyack Library Nyack, NY | $12,067,573 | $3,118,005 |