Civic Intelligence

The Library Foundation of Needham Inc

EIN 04-3783995 • 501(c)3 • Needham, MA

Profile

The library foundation of needham encourages community investment through individual and corporate giving for library programs and services not provided for in the town-funded budget and coordinates fundraising and promotional activities to increase the endowment and responsibly manage and grow the funds.

1139 Highland AveNeedham, MA 02494

www.lfnonline.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

20th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

91st percentile

56%

Higher net margin than 91% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

68th percentile

11%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

31st percentile

-3.1%

Faster revenue growth than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$1,985,238

Up $200,270 (+11%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$1,985,238

Up $200,270 (+11%) from 2023

Operations
Liabilities / Revenue20th percentileNet Margin91st percentile

Revenue

Down

$108,215

Down $3,429 (-3.1%) from 2023

Expenses

Down

$47,351

Down $41,157 (-47%) from 2023

Net Income

Up

$60,864

Up $37,728 (+163%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth68th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $687,481Liabilities 2010: $0Net Assets 2010: $687,4812010Assets 2011: $840,593Liabilities 2011: $0Net Assets 2011: $840,5932011Assets 2012: $867,803Liabilities 2012: $0Net Assets 2012: $867,8032012Assets 2013: $1,097,044Liabilities 2013: $0Net Assets 2013: $1,097,0442013Assets 2014: $1,270,080Liabilities 2014: $0Net Assets 2014: $1,270,0802014Assets 2015: $1,236,855Liabilities 2015: $0Net Assets 2015: $1,236,8552015Assets 2016: $1,257,127Liabilities 2016: $0Net Assets 2016: $1,257,1272016Assets 2017: $1,383,822Liabilities 2017: $0Net Assets 2017: $1,383,8222017Assets 2018: $1,453,251Liabilities 2018: $0Net Assets 2018: $1,453,2512018Assets 2019: $1,508,875Liabilities 2019: $0Net Assets 2019: $1,508,8752019Assets 2020: $1,486,525Liabilities 2020: $0Net Assets 2020: $1,486,5252020Assets 2021: $1,827,456Liabilities 2021: $0Net Assets 2021: $1,827,4562021Assets 2022: $1,652,876Liabilities 2022: $0Net Assets 2022: $1,652,8762022Assets 2023: $1,784,968Liabilities 2023: $0Net Assets 2023: $1,784,9682023Assets 2024: $1,985,238Liabilities 2024: $0Net Assets 2024: $1,985,2382024

Highlighted filing

2024

Assets$1,985,238
Liabilities$0
Net Assets$1,985,238
Open 2024 Filing

Operations Trend

Revenue Growth31st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0Revenue 2010: $120,440Expenses 2010: $59,419Net Income 2010: $61,0212010Expenses 2011: $27,2002011Expenses 2012: $31,4572012Revenue 2013: $154,100Expenses 2013: $19,070Net Income 2013: $135,0302013Revenue 2014: $37,529Expenses 2014: $15,630Net Income 2014: $21,8992014Revenue 2015: $264,322Expenses 2015: $99,266Net Income 2015: $165,0562015Revenue 2016: $65,775Expenses 2016: $35,764Net Income 2016: $30,0112016Revenue 2017: $69,522Expenses 2017: $43,950Net Income 2017: $25,5722017Revenue 2018: $75,113Expenses 2018: $46,706Net Income 2018: $28,4072018Revenue 2019: $80,596Expenses 2019: $54,896Net Income 2019: $25,7002019Revenue 2020: $75,471Expenses 2020: $59,569Net Income 2020: $15,9022020Revenue 2021: $89,124Expenses 2021: $39,736Net Income 2021: $49,3882021Revenue 2022: $122,056Expenses 2022: $32,780Net Income 2022: $89,2762022Revenue 2023: $111,644Expenses 2023: $88,508Net Income 2023: $23,1362023Revenue 2024: $108,215Expenses 2024: $47,351Net Income 2024: $60,8642024

Highlighted filing

2024

Revenue$108,215
Expenses$47,351
Net Income$60,864
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,985,238
Liabilities
$0
Net assets
$1,985,238
Revenue
$108,215
Expenses
$47,351
Net income
$60,864
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.99$0.00$1.99$0.11$0.05$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.78$0.00$1.78$0.11$0.09$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$0.12$0.03$0.09
2021Detailed filing. Detailed filing data is available for this year.$1.83$0.00$1.83$0.09$0.04$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.49$0.00$1.49$0.08$0.06$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.51$0.00$1.51$0.08$0.05$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.08$0.05$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.38$0.00$1.38$0.07$0.04$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.26$0.00$1.26$0.07$0.04$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.24$0.26$0.10$0.17
2014Detailed filing. Detailed filing data is available for this year.$1.27$0.00$1.27$0.04$0.02$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.00$1.10$0.15$0.02$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.00$0.87$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.00$0.84$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.00$0.69$0.12$0.06$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 26, 2024
Return Version
2023v5.1
Gross Receipts
$108,215
Mission and Program Overview

Mission

The library foundation of needham makes resources available beyond the town-funded budget for technology, equipment, library materials, services, and programs for all ages and interests, by encouraging the community to investment time and resources.

To make resources available to the needham public library beyond the town-funded budget for technology, equipment, library materials, and services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,751,678$1,967,967▲ $216,289
Savings and Temporary Cash Investments$10,466$10,757▲ $291
Cash and Non-Interest-Bearing Accounts$22,824$6,514▼ $16,310
Total Assets$1,784,968$1,985,238▲ $200,270
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,784,968$1,985,238▲ $200,270
Total Net Assets Fund Balance$1,784,968$1,985,238▲ $200,270
Total Liabilities and Net Assets / Fund Balance$1,784,968$1,985,238▲ $200,270
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
KATHY D'ADDESIOPresident
James ReulbachVice President
Debra SteeleDirector
Joan SmithDirector
Jonathan B HruskaDirector
Leslie RenzulliDirector
Louise MillerDirector
MIKE O'LEARYDirector
Sue YoungDirector
Jay FialkovLiaison, Library Board of Trustees
Kathy WhitneyClerk
Stephen ShustermanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$18,639
Program Service Revenue
$0
Investment Income
$89,576
Other Revenue
$0
All Other Contributions
$18,639
Change in Net Assets
$60,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$24,995
Other Expenses$22,356
Total Fundraising Expense$3,116
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$24,995--$24,995
Fees for Service Investment Mgmnt Fees-$12,402-$12,402
Office Expenses-$175$2,606$2,781
Other Expenses-$35$510$35
Total Functional Expenses$24,995$19,240$3,116$47,351
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Public Library Town of NeedhamNeedham, MA-Funding for Program Offerings, Expansion of the Collection and Purchase of Special Equipment and Services.$24,995
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The tax return was available to review by board members before being filed”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest declarations are reviewed annually by the president of the foundation”

Form 990, Part VI, Section C, Line 19

“The library foundation provides copies upon request”

Filing and Contact Details

Filer

Filer Name
The Library Foundation of Needham Inc
EIN
04-3783995
Phone
7814557559
Address
1139 HIGHLAND AVE, NEEDHAM, MA 02494

Signing Officer

Name
Stephen Shusterman
Title
Treasurer
Phone
7814557559
Signed
2024-11-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Shusterman
Formed
2004
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Raffol and Company Inc
Address
105 CHESTNUT ST SUITE 11, NEEDHAM, MA 02492
Preparer
Kenneth Raffol
Phone
7814444926
Raw XML Appendix373 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/PersonNm11JAY FIALKOV
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11LIAISON, LIBRARY BOARD OF TRUSTEES
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IRS990/PYOtherExpensesAmt034810
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt023136
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt088508
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0111644
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt060864
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt036172
IRS990/SavingsAndTempCashInvstGrp/BOYAmt010466
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010757
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt018639
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt034801
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt039076
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt026555
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt021922
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0140993
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt053404
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt031738
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt030684
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt029106
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt031707
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0176639
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.44390
IRS990ScheduleA/PublicSupportPY170Pct00.47900
IRS990ScheduleA/PublicSupportTotal170Amt0140993
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt018639
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt034801
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt039076
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt026555
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt021922
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0140993
IRS990ScheduleA/TotalSupportAmt0317632
IRS990/ScheduleBRequiredInd00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt024995
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FUNDING FOR PROGRAM OFFERINGS, EXPANSION OF THE COLLECTION AND PURCHASE OF SPECIAL EQUIPMENT AND SERVICES.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0PUBLIC LIBRARY TOWN OF NEEDHAM
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01139 HIGHLAND AVENUE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEEDHAM
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002494
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURN WAS AVAILABLE TO REVIEW BY BOARD MEMBERS BEFORE BEING FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST DECLARATIONS ARE REVIEWED ANNUALLY BY THE PRESIDENT OF THE FOUNDATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE LIBRARY FOUNDATION PROVIDES COPIES UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01784968
IRS990/TotalAssetsEOYAmt01985238
IRS990/TotalAssetsGrp/BOYAmt01784968
IRS990/TotalAssetsGrp/EOYAmt01985238
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt018639
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03116
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt019240
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt024995
IRS990/TotalFunctionalExpensesGrp/TotalAmt047351
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01784968
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01985238
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt024995
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt053404
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt036172
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0108215
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01784968
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01985238
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01139 HIGHLAND AVE
IRS990/USAddress/CityNm0NEEDHAM
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002494
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0HTTPS://WWW.LFNONLINE.ORG/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN SHUSTERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07814557559
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE LIBRARY FOUNDATION OF NEEDHAM INC
ReturnHeader/Filer/BusinessNameControlTxt0LIBR
ReturnHeader/Filer/EIN0043783995
ReturnHeader/Filer/PhoneNum07814557559
ReturnHeader/Filer/USAddress/AddressLine1Txt01139 HIGHLAND AVE
ReturnHeader/Filer/USAddress/CityNm0NEEDHAM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002494
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471096596
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RAFFOL AND COMPANY INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0105 CHESTNUT ST SUITE 11
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEEDHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002492
ReturnHeader/PreparerPersonGrp/PhoneNum07814444926
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH RAFFOL
ReturnHeader/ReturnTs02024-11-26T07:42:21-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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