Civic Intelligence

The Library Foundation of Needham Inc

990 • Fiscal year 2019 • EIN 04-3783995

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 15, 2019

Organization ProfileWWW.LFNONLINE.ORG
1139 Highland AveNeedham, MA 02494

(781) 455-7559

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

85th percentile

32%

Higher net margin than 85% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

53rd percentile

3.8%

Faster asset growth than 53% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

57th percentile

7.3%

Faster revenue growth than 57% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$1,508,875

Up $55,624 (+3.8%) from 2018

Net Assets

Up

$1,508,875

Up $55,624 (+3.8%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin85th percentile

Revenue

Up

$80,596

Up $5,483 (+7.3%) from 2018

Expenses

Up

$54,896

Up $8,190 (+18%) from 2018

Net Income

Down

$25,700

Down $2,707 (-9.5%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2019

Assets$1,508,875
Liabilities$0
Net Assets$1,508,875
Open 2019 Filing

Operations Trend

Revenue Growth57th percentile

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$80,596
Expenses$54,896
Net Income$25,700
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$80,596
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 public library beyond the town-funded budget for technology, equipment, library materials, and services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,428,215$1,487,399▲ $59,184
Cash and Non-Interest-Bearing Accounts$14,776$11,158▼ $3,618
Savings and Temporary Cash Investments$10,260$10,318▲ $58
Total Assets$1,453,251$1,508,875▲ $55,624
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$1,453,251$1,508,875▲ $55,624
Total Net Assets Fund Balance$1,453,251$1,508,875▲ $55,624
Total Liabilities and Net Assets / Fund Balance$1,453,251$1,508,875▲ $55,624
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Janet DrakeCo-president
Joan SmithCo-president
Beth HammerstrandDirector
Dhiran ShahDirector
Judy MatterazzoDirector
KATHY D'ADDESIODirector
Margie MearlsDirector
Peter BurnsDirector
Stephen SchustermanDirector
Sue YoungDirector
Tom HarkinsTrustee
Julie OgilvieClerk
Frada SaloTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$20,680
Program Service Revenue
$0
Investment Income
$59,916
Other Revenue
$0
All Other Contributions
$20,680
Change in Net Assets
$25,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$36,514
Other Expenses$18,382
Total Fundraising Expense$2,454
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$36,514--$36,514
Fees for Service Investment Mgmnt Fees-$10,598-$10,598
Advertising--$2,454$2,454
Information Technology-$1,745-$1,745
Fees for Services Accounting-$1,550-$1,550
Insurance-$744-$744
Other Expenses-$436-$436
Office Expenses-$257-$257
Total Functional Expenses$36,514$15,928$2,454$54,896
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.$36,514
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Robert Begin Former Board MemberRobert Begin Was Paid for a Talks in September 2018 and May 2019.Fees PaidNo$500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Janet Drake
Title
President
Phone
7814557559
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Drake
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
Jonathan Vitale
Phone
7814444926
Raw XML Appendix384 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.

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IRS990ScheduleA/PublicSupportTotal170Amt0120165
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt020680
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt018242
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt041250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt020850
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt019143
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0120165
IRS990ScheduleA/TotalSupportAmt0337591
IRS990/ScheduleBRequiredInd00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt036514
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
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0ROBERT BEGIN FORMER BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0ROBERT BEGIN WAS PAID FOR A TALKS IN SEPTEMBER 2018 AND MAY 2019.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0500
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0FEES PAID
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/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01453251
IRS990/TotalAssetsEOYAmt01508875
IRS990/TotalAssetsGrp/BOYAmt01453251
IRS990/TotalAssetsGrp/EOYAmt01508875
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt020680
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02454
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015928
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt036514
IRS990/TotalFunctionalExpensesGrp/TotalAmt054896
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01453251
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01508875
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt036514
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt059916
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt080596
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01453251
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01508875
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01453251
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01508875
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01139 HIGHLAND AVE
IRS990/USAddress/CityNm0NEEDHAM
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002494
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.LFNONLINE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JANET DRAKE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07814557559
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-15
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0CD71869BFC494223FABD92E93AB0669CE7B22062
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId01E2706C375E039EB00F36CED9FDCA9AB677DCF8F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.250.39.97
ReturnHeader/FilingSecurityInformation/IPDt02019-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm010:02:28
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/PreparerPersonNm0JONATHAN VITALE
ReturnHeader/ReturnTs02019-11-15T12:52:20-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,508,875
Liabilities
$0
Net assets
$1,508,875
Revenue
$80,596
Expenses
$54,896
Net income
$25,700
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