Magnolia Library Center Inc
- Assets
- $309.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Gloucester, MA
- Founding
- 11/1970
- Data as of
- 08/2023
- EIN
- 23-7089725
Organization Overview
Magnolia Library Center Inc is located in Gloucester, MA. The organization was established in 1970. According to its NTEE Classification (B70) the organization is classified as: Libraries, 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. Magnolia Library Center 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 08/2023, Magnolia Library Center Inc generated $161.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $76.8k during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TO MAINTAIN A LIBRARY, READING ROOM, FUNCTION ROOM AND A PLACE FOR SOCIAL MEETINGS TO SUPPORT THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Henderson Director | 0 | $0 | |
Kiley Davis Treasurer | 0 | $0 | |
Nying-Jepo New Gallo Secretary | 0 | $0 | |
Robert Moran Jr Director | 0 | $0 | |
Elizabeth Moran Director | 0 | $0 | |
Christopher L Boucher President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $161,176 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $460 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $161,636 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $19,020 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $1,279 |
| Other expenses | $56,530 |
| Total expenses | $76,829 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $309,060 |
| Other assets | $0 |
| Total assets | $309,060 |
| Total liabilities | $0 |
| Net assets or fund balances | $309,060 |