Framingham Public Library Foundation
- Assets
- $194.4k
- Revenue
- $68.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Framingham, MA
- Founding
- 10/2010
- Data as of
- 12/2021
- EIN
- 26-4348429
Organization Overview
Framingham Public Library Foundation is located in Framingham, MA. The organization was established in 2010. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Framingham Public 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, Framingham Public Library Foundation generated $68.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $21.5k 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
TO CREATE A LEGACY FOR THE FUTURE OF BOTH FRAMINGHAM LIBRARIES, WITH AN ULTIMATE GOAL OF CREATING AN ENDOWMENT TO SUPPLEMENT FUNDS RECEIVED FROM THE TOWN OF FRAMINGHAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PURCHASED, OUTFITTED, AND DONATED A BOOKMOBILE THAT BRINGS LIBRARY RESOURCES AND PROGRAMS TO PEOPLE WITH LIMITED ACCESS TO THE LIBRARY. THE DONATION OF THE BOOKMOBILE HELPS THE LIBRARY BRING ITS MANY RESOURCES TO AFTER-SCHOOL PROGRAMS, HOMEBOUND INDIVIDUALS, SENIOR CITIZEN CENTERS, LOW-INCOME NEIGHBORHOODS, ENGLISH LANGUAGE LEARNERS, AND SOCIAL SERVICE AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Petroni Vice-President | OfficerTrustee | 1 | $0 |
Ruth Winett President | OfficerTrustee | 1 | $0 |
Christine Visminas Clerk | OfficerTrustee | 1 | $0 |
Mary Gallagher Treasurer | OfficerTrustee | 1 | $0 |
Jo-Anne Thompson Director | Trustee | 1 | $0 |
Brett Peruzzi Director | 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 | $67,433 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $67,433 |
| Total Program Service Revenue | $0 |
| Investment income | $589 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $338 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $68,360 |
| 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 | $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 | $1,870 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $156 |
| Advertising and promotion | $348 |
| Office expenses | $4,041 |
| 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 | $872 |
| All other expenses | $14,226 |
| Total functional expenses | $21,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,416 |
| Savings and temporary cash investments | $63,193 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $774 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $194,383 |
| Accounts payable and accrued expenses | $1,270 |
| 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 | $1,270 |
| Net assets without donor restrictions | $28,500 |
| Net assets with donor restrictions | $164,613 |
| 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 | $194,383 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Framingham Public Library Foundation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Mutual One Charitable Foundation Framingham, MA PURPOSE: GENERAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University At Albany Foundation Albany, NY | $129,210,800 | $17,198,773 |
Trustees Of The Public Library Of The City Of Boston Boston, MA | $99,754,907 | $16,249,859 |
Lord Foundation Of Massachusetts Inc Cambridge, MA | $0 | $665,000 |
Queens College Foundation Inc Flushing, NY | $103,882,868 | $13,972,395 |
Threefold Educational Foundation & School Chestnut Ridge, NY | $15,163,557 | $9,817,859 |
Global Community Charter School New York, NY | $4,753,919 | $12,397,044 |
Mit International Inc Cambridge, MA | $42,886,000 | $6,428,000 |
Rit Global Delivery Corporation Rochester, NY | $10,659,016 | $9,744,189 |
Concord Consortium Inc Concord, MA | $4,473,971 | $11,489,391 |
Charles E Cotting Charitable Corp Boston, MA | $113,711,021 | $14,477,400 |
The Graduate Center Foundation Inc New York, NY | $72,994,369 | $16,026,752 |
Friends Of Mcgill University Inc New Rochelle, NY | $10,774,766 | $8,029,117 |