Palacios Library Incorporated
- Assets
- $787.9k
- Revenue
- $264.5k
- Investments
- $0.0
- Employees
- 17
- Location
- Palacios, TX
- Founding
- 05/1962
- Data as of
- 12/2021
- EIN
- 74-1465813
Organization Overview
Palacios Library Incorporated is located in Palacios, TX. The organization was established in 1962. As of 12/2021, Palacios Library Incorporated employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palacios Library Incorporated 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, Palacios Library Incorporated generated $264.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $166.5k during the year ending 12/2021. While expenses have increased by 0.5% 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
PUBLIC LIBRARY SERVING PALACIOS AND BLESSING TEXAS AND SURROUNDING AREA WITH A POPULATION OF APPROXIMATELY 9200 PEOPLE AND 4000 4500 ACTIVE CARD HOLDERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC LIBRARY SERVING PALACIOS AND BLESSING TEXAS AND SURROUNDING AREA WITH A POPULATION OF APPROXIMATELY 9200 PEOPLE AND APPROXIMATELY 4000 4500 ACTIVE CARD HOLDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vikijane Mosier Head Librarian | Officer | 40 | $34,955 |
Dale Behnke President | OfficerTrustee | 2 | $0 |
Paul Christensen Vice-President | OfficerTrustee | 0.5 | $0 |
Cathy Fiorini Treasurer | OfficerTrustee | 0.5 | $0 |
Debi Loff Treasurer | OfficerTrustee | 0.5 | $0 |
Kay Lawson Director | Trustee | 0.5 | $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 | $188,483 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $188,483 |
| Total Program Service Revenue | $5,802 |
| Investment income | $11,320 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $58,214 |
| Net Income from Fundraising Events | $636 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $264,455 |
| 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. | $34,955 |
| Compensation of current officers, directors, key employees. | $34,955 |
| Compensation to disqualified persons | $52,515 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,124 |
| Payroll taxes | $6,848 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $401 |
| Office expenses | $620 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,880 |
| 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 | $15,537 |
| Insurance | $641 |
| All other expenses | $0 |
| Total functional expenses | $166,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,227 |
| Savings and temporary cash investments | $62,987 |
| 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 | $303,275 |
| Investments—publicly traded securities | $404,284 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159 |
| Total assets | $787,932 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $787,932 |
| Total liabilities and net assets/fund balances | $787,932 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southeast Oklahoma Library System Mcalester, OK | $7,993,618 | $6,073,947 |
Fort Smith Public Library Fort Smith, AR | $2,977,372 | $3,424,796 |
Southern Oklahoma Library System Incorporated Ardmore, OK | $4,501,303 | $2,637,945 |
Robert Charles Bunn Seattle Public Library Fund Sea-First Natl Bk Tte Dallas, TX | $16,854,723 | $3,899,973 |
Friends Of The Dallas Public Library Inc Dallas, TX | $4,968,118 | $1,220,612 |
Greene County Library Paragould, AR | $1,896,345 | $684,465 |
Charity League Corpus Christi, TX | $117,069 | $471,138 |
Carnegie Public Library Association Of Brownwood Tex Brownwood, TX | $493,624 | $397,748 |
Northeast Arkansas Regional Library Paragould, AR | $540,416 | $318,437 |
Olney Community Library Olney, TX | $469,598 | $263,538 |
Alpine Public Library Association Of Alpine Brewster County Texas Alpine, TX | $2,299,512 | $293,957 |
Oklahoma Well Log Library Inc Tulsa, OK | $341,474 | $168,655 |