Litchfield Park Library Association
- Assets
- $229.3k
- Revenue
- $50.0k
- Investments
- $77.4k
- Employees
- 1
- Location
- Litchfield Park, AZ
- Founding
- 03/1970
- Data as of
- 12/2022
- EIN
- 86-0344647
Organization Overview
Litchfield Park Library Association is located in Litchfield Park, AZ. 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. Litchfield Park Library Association 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 12/2022, Litchfield Park Library Association generated $50.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $143.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OWN AND MAINTAIN THE FLORENCE BRINTON LITCHFIELD LIBRARY BUILDING AND EQUIPMENT.
Describe the Organization's Program Activity:
TO MAINTAIN THE FLORENCE BRINON LITCHFIELD LIBRARY BUILDING AND EQUIPMENT USED BY APPROXIMATELY 28,500 REGISTERED LIBRARY CARDHOLDERS FROM AT LEAST 10 COMMUNITIES. MONTHLY VISITS AVERAGE 19,600 PATRONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Sproull Director | 0 | $0 | |
Richard Hughes President | 5 | $0 | |
Jason Slade Vice President | 0 | $0 | |
Nona Ladra Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,891 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $37,506 |
| Capital Gain Net Income | $37,506 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,600 |
| Total Revenue | $49,997 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $73,348 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,611 |
| Depreciation | $19,441 |
| Occupancy | $14,420 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $28,250 |
| Total operating and administrative expenses | $143,730 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $143,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,493 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $139,410 |
| Other assets | $0 |
| Total assets | $229,261 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $9,930 |
| Total liabilities | $9,930 |