Morristown And Morris Township Library Foundation
- Assets
- $2.3m
- Revenue
- $275.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Morristown, NJ
- Founding
- 03/1984
- Data as of
- 12/2021
- EIN
- 23-7112569
Organization Overview
Morristown And Morris Township Library Foundation is located in Morristown, NJ. The organization was established in 1984. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morristown And Morris Township Library Foundation 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, Morristown And Morris Township Library Foundation generated $275.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.1% each year . All expenses for the organization totaled $43.1k during the year ending 12/2021. 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 FOUNDATION'S MISSION IS THE ADVANCEMENT & DIFFUSION OF KNOWLEDGE THROUGH THE PROVISION OF FUNDS FOR THE MAINTENANCE & SUPPORT OF MORRISTOWN FREE PUBLIC LIBRARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S MISSION IS THE ADVANCEMENT & DIFFUSION OF KNOWLEDGE THROUGH THE PROVISION OF FUNDS FOR THE MAINTENANCE & SUPPORT OF MORRISTOWN FREE PUBLIC LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Miller Treasurer | Officer | 5 | $0 |
Geoffrey Brooks President | Officer | 1 | $0 |
David Fadden Trustee | Trustee | 1 | $0 |
Deanna Quinones Trustee | Trustee | 1 | $0 |
Eric Inglis Trustee | Trustee | 1 | $0 |
Linda Stamato Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,523 |
| Noncash contributions included in lines 1a–1f | $5,254 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,523 |
| Total Program Service Revenue | $0 |
| Investment income | $37,352 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,188 |
| Net Gain/Loss on Asset Sales | $29,948 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,011 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $24,409 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,600 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $2,397 |
| All other expenses | $0 |
| Total functional expenses | $43,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,948 |
| Savings and temporary cash investments | $163,178 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,167 |
| 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 | $507,729 |
| Investments—publicly traded securities | $1,155,919 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $259,296 |
| Total assets | $2,305,237 |
| Accounts payable and accrued expenses | $10,180 |
| Grants payable | $0 |
| Deferred revenue | $130,604 |
| 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 | $140,784 |
| Net assets without donor restrictions | $1,247,990 |
| Net assets with donor restrictions | $916,463 |
| 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 | $2,305,237 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Morristown And Morris Township Library Foundation has recieved totaling $196.
| Awarding Organization | Amount |
|---|---|
Synchrony Foundation Stamford, CT PURPOSE: EMPLOYER MATCHING GIFT PROGRAM | $156 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $40 |
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 |