Civic Intelligence

Hope Library Association

990 • Fiscal year 2023 • EIN 05-0462627

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

374 North RoadHope, RI 02831

(401) 626-5699

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

45th percentile

1.7%

Higher net margin than 45% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

68th percentile

$51,965

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

42nd percentile

0.8%

Faster asset growth than 42% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

97th percentile

319%

Faster revenue growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$766,652

Up $6,125 (+0.8%) from 2022

Net Assets

Up

$766,652

Up $6,125 (+0.8%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue

Up

$356,887

Up $271,736 (+319%) from 2022

Expenses

Up

$350,762

Up $267,642 (+322%) from 2022

Net Income

Up

$6,125

Up $4,094 (+202%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2011: $786,233Liabilities 2011: $0Net Assets 2011: $786,2332011Assets 2012: $898,067Liabilities 2012: $0Net Assets 2012: $898,0672012Assets 2013: $826,186Liabilities 2013: $0Net Assets 2013: $826,1862013Assets 2014: $794,853Liabilities 2014: $0Net Assets 2014: $794,8532014Assets 2015: $780,319Liabilities 2015: $0Net Assets 2015: $780,3192015Assets 2016: $762,152Liabilities 2016: $0Net Assets 2016: $762,1522016Assets 2017: $737,825Liabilities 2017: $0Net Assets 2017: $737,8252017Assets 2018: $718,612Liabilities 2018: $0Net Assets 2018: $718,6122018Assets 2019: $728,895Liabilities 2019: $0Net Assets 2019: $728,8952019Assets 2020: $682,133Liabilities 2020: $0Net Assets 2020: $682,1332020Assets 2021: $700,999Liabilities 2021: $0Net Assets 2021: $700,9992021Assets 2022: $760,527Liabilities 2022: $0Net Assets 2022: $760,5272022Assets 2023: $766,652Liabilities 2023: $0Net Assets 2023: $766,6522023Assets 2024: $789,957Liabilities 2024: $14,365Net Assets 2024: $775,5922024

Highlighted filing

2023

Assets$766,652
Liabilities$0
Net Assets$766,652

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $228,850Expenses 2011: $325,862Net Income 2011: -$97,0122011Revenue 2012: $419,526Expenses 2012: $307,692Net Income 2012: $111,8342012Revenue 2013: $242,664Expenses 2013: $314,545Net Income 2013: -$71,8812013Revenue 2014: $283,785Expenses 2014: $318,160Net Income 2014: -$34,3752014Revenue 2015: $284,602Expenses 2015: $299,136Net Income 2015: -$14,5342015Revenue 2016: $297,878Expenses 2016: $316,045Net Income 2016: -$18,1672016Revenue 2017: $300,873Expenses 2017: $324,744Net Income 2017: -$23,8712017Revenue 2018: $304,977Expenses 2018: $324,190Net Income 2018: -$19,2132018Revenue 2019: $362,057Expenses 2019: $351,774Net Income 2019: $10,2832019Revenue 2020: $310,741Expenses 2020: $357,503Net Income 2020: -$46,7622020Revenue 2021: $331,671Expenses 2021: $319,913Net Income 2021: $11,7582021Revenue 2022: $85,151Expenses 2022: $83,120Net Income 2022: $2,0312022Revenue 2023: $356,887Expenses 2023: $350,762Net Income 2023: $6,1252023Revenue 2024: $388,493Expenses 2024: $379,553Net Income 2024: $8,9402024

Highlighted filing

2023

Revenue$356,887
Expenses$350,762
Net Income$6,125
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$362,491
Mission and Program Overview

Mission

HOPE LIBRARY MISSION STATEMENT Hope Library will provide patrons of all ages with diverse and easily accessible materials, services and programs to enhance and promote lifelong learning. The Library's collection offers a variety of formats, including print and electronic versions, and emphasizes recreational and leisure materials. Hope Library is committed to meeting the needs of, and providing equal access to all users, and encourages the free flow of ideas in order to educate, entertain, enrich and inform our patrons. Special emphasis is placed on stimulating young children's interest and appreciation for reading and learning. The Library also supports the educational needs of students through the twelfth grade. The Library upholds the principles of intellectual freedom, the citizen's right to information, the right to confidentiality of users' records, and opposes censorship.

Hope library mission statement hope library will provide patrons of all ages with diverse and easily accessible materials, services and programs to enhance and promote lifelong learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$395,952$369,786▼ $26,166
Savings and Temporary Cash Investments$215,832$202,040▼ $13,792
Cash and Non-Interest-Bearing Accounts$148,743$122,916▼ $25,827
Prepaid Expenses and Deferred Charges-$10,788-
Total Assets$760,527$766,652▲ $6,125
Other Assets Total-$61,122-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$699,466$705,530▲ $6,064
Net Assets With Donor Restrictions$61,061$61,122▲ $61
Total Net Assets Fund Balance$760,527$766,652▲ $6,125
Total Liabilities and Net Assets / Fund Balance$760,527$766,652▲ $6,125

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$550,000$550,000
Leasehold Improvements$284,786$177,649$462,435
Equipment-$164,953$164,953
Land$85,000-$85,000
Other Assets Org$61,122--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Cora MorriganDirectorFT$51,965$51,965

Board Members and Trustees

NameTitle
Brenda GardnerPresident
Mary MorseVice President
Donna FariaTrustee
Candace CollinsSecretary
Carol SwansonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$353,853
Program Service Revenue
$0
Investment Income
$2,421
Other Revenue
$613
All Other Contributions
$7,827
Change in Net Assets
$6,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$223,530
Other Expenses$127,232
Total Fundraising Expense$9,514
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$93,045-$4,897$97,942
Current Officers, Directors, Trustees, and Key Employees$18,467$69,251$4,617$92,335
Occupancy$21,366$21,366-$42,732
Depreciation Depletion$26,166--$26,166
Other Employee Benefits$8,508$8,508-$17,015
Payroll Taxes$8,119$8,119-$16,238
All Other Expenses$14,764--$14,764
Other Expenses$7,700$4,769-$7,700
Information Technology-$5,321-$5,321
Fees for Services Other$886--$886
Total Functional Expenses$221,831$119,418$9,514$350,762
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$5,604
Fundraising Gross Income$4,659
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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 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
Yes
Other officer compensation reviewed
Yes
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, Line 8B

Secretary of the board takes minutes for all meetings. Since there is such a small board there are not committees, instead all board members take part in decisions and plans of the board.

Form 990, Part VI, Line 12C

All board members sign a conflict of interest policy annually. Borad members are required to disclose any relationship with employees or vendors.

Form 990, Part VI, Line 19

Financials are discussed at every board meeting and everyone is able to attend. Policies are available on the librarys website. Copies of the financials and polocies are available on request.

Filing and Contact Details

Filer

Filer Name
Hope Library Association
EIN
05-0462627
Address
374 NORTH ROAD, Hope, RI 02831

Signing Officer

Name
Carol Swanson
Title
Treasurer
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol Swanson
Formed
1966
Legal Domicile
Ri
Voting Board Members
5
Independent Board Members
5
Employees
12

Preparer

Firm
Lisamarie Del Santo
Address
110 EAGLE DRIVE, HOPE, RI 02831
Preparer
Lisamarie Del Santo
Phone
4013384097
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

The librarys collection offers a variety of formats, including print nad electronic versions, and emphasizes recreational and leisure materials. Hope library is committed to meeting the needs of, and providing equal access to all users, and encourages the free flow of ideas in order to educate, entertain, enrich and inform our patrons. Special emphasis is placed on stimulating childrens interest and appreciation for reading and learning. Hope library is committed to excellence in service and will meet the needs of the public. The library upholds the principals of intellectual freedom, the citizens right to information and the right to confidentiality of users records and opposes censorship.

Form 990, Part III, Line 1

The librarys collection offers a variety of formats, including print nad electronic versions, and emphasizes recreational and leisure materials. Hope library is committed to meeting the needs of, and providing equal access to all users, and encourages the free flow of ideas in order to educate, entertain, enrich and inform our patrons. Special emphasis is placed on stimulating childrens interest and appreciation for reading and learning. Hope library is committed to excellence in service and will meet the needs of the public. The library upholds the principals of intellectual freedom, the citizens right to information and the right to confidentiality of users records and opposes censorship.

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0338453
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0331671
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0310741
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01804466
IRS990ScheduleA/TotalSupportAmt01808743
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0550000
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0164953
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IRS990ScheduleD/LandGrp/BookValueAmt085000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt085000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0284786
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt061122
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Beneficial Interest in Assets Held at RI Foundation
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LIBRARYS COLLECTION OFFERS A VARIETY OF FORMATS, INCLUDING PRINT NAD ELECTRONIC VERSIONS, AND EMPHASIZES RECREATIONAL AND LEISURE MATERIALS. HOPE LIBRARY IS COMMITTED TO MEETING THE NEEDS OF, AND PROVIDING EQUAL ACCESS TO ALL USERS, AND ENCOURAGES THE FREE FLOW OF IDEAS IN ORDER TO EDUCATE, ENTERTAIN, ENRICH AND INFORM OUR PATRONS. SPECIAL EMPHASIS IS PLACED ON STIMULATING CHILDRENS INTEREST AND APPRECIATION FOR READING AND LEARNING. HOPE LIBRARY IS COMMITTED TO EXCELLENCE IN SERVICE AND WILL MEET THE NEEDS OF THE PUBLIC. THE LIBRARY UPHOLDS THE PRINCIPALS OF INTELLECTUAL FREEDOM, THE CITIZENS RIGHT TO INFORMATION AND THE RIGHT TO CONFIDENTIALITY OF USERS RECORDS AND OPPOSES CENSORSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE LIBRARYS COLLECTION OFFERS A VARIETY OF FORMATS, INCLUDING PRINT NAD ELECTRONIC VERSIONS, AND EMPHASIZES RECREATIONAL AND LEISURE MATERIALS. HOPE LIBRARY IS COMMITTED TO MEETING THE NEEDS OF, AND PROVIDING EQUAL ACCESS TO ALL USERS, AND ENCOURAGES THE FREE FLOW OF IDEAS IN ORDER TO EDUCATE, ENTERTAIN, ENRICH AND INFORM OUR PATRONS. SPECIAL EMPHASIS IS PLACED ON STIMULATING CHILDRENS INTEREST AND APPRECIATION FOR READING AND LEARNING. HOPE LIBRARY IS COMMITTED TO EXCELLENCE IN SERVICE AND WILL MEET THE NEEDS OF THE PUBLIC. THE LIBRARY UPHOLDS THE PRINCIPALS OF INTELLECTUAL FREEDOM, THE CITIZENS RIGHT TO INFORMATION AND THE RIGHT TO CONFIDENTIALITY OF USERS RECORDS AND OPPOSES CENSORSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SECRETARY OF THE BOARD TAKES MINUTES FOR ALL MEETINGS. SINCE THERE IS SUCH A SMALL BOARD THERE ARE NOT COMMITTEES, INSTEAD ALL BOARD MEMBERS TAKE PART IN DECISIONS AND PLANS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL BOARD MEMBERS SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. BORAD MEMBERS ARE REQUIRED TO DISCLOSE ANY RELATIONSHIP WITH EMPLOYEES OR VENDORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FINANCIALS ARE DISCUSSED AT EVERY BOARD MEETING AND EVERYONE IS ABLE TO ATTEND. POLICIES ARE AVAILABLE ON THE LIBRARYS WEBSITE. COPIES OF THE FINANCIALS AND POLOCIES ARE AVAILABLE ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part III, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0760527
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0353853
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt09514
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0119418
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0221831
IRS990/TotalFunctionalExpensesGrp/TotalAmt0350762
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0766652
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0766652
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0CRANSTON
IRS990/USAddress/StateAbbreviationCd0RI
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0hopelibraryri.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CAROL SWANSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOPE LIBRARY ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0HOPE
ReturnHeader/Filer/EIN0050462627
ReturnHeader/Filer/USAddress/AddressLine1Txt0374 NORTH ROAD
ReturnHeader/Filer/USAddress/CityNm0Hope
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0037547899
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LISAMARIE DEL SANTO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0110 EAGLE DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOPE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0RI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002831
ReturnHeader/PreparerPersonGrp/PhoneNum04013384097
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LISAMARIE DEL SANTO
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-05-15T07:58:58-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CAROL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SWANSON
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.90$0.14$7.76$3.88$3.80$0.09
2023Detailed filing. Detailed filing data is available for this year.$7.67$0.00$7.67$3.57$3.51$0.06
2022Detailed filing. Detailed filing data is available for this year.$7.61$0.00$7.61$0.85$0.83$0.02
2021Detailed filing. Detailed filing data is available for this year.$7.01$0.00$7.01$3.32$3.20$0.12
2020Detailed filing. Detailed filing data is available for this year.$6.82$0.00$6.82$3.11$3.58$0.47
2019Summary only. Only limited summary data is available for this year.$7.29$0.00$7.29$3.62$3.52$0.10
2018Summary only. Only limited summary data is available for this year.$7.19$0.00$7.19$3.05$3.24$0.19
2017Summary only. Only limited summary data is available for this year.$7.38$0.00$7.38$3.01$3.25$0.24
2016Summary only. Only limited summary data is available for this year.$7.62$0.00$7.62$2.98$3.16$0.18
2015Summary only. Only limited summary data is available for this year.$7.80$0.00$7.80$2.85$2.99$0.15
2014Summary only. Only limited summary data is available for this year.$7.95$0.00$7.95$2.84$3.18$0.34
2013Summary only. Only limited summary data is available for this year.$8.26$0.00$8.26$2.43$3.15$0.72
2012Summary only. Only limited summary data is available for this year.$8.98$0.00$8.98$4.20$3.08$1.12
2011Summary only. Only limited summary data is available for this year.$7.86$0.00$7.86$2.29$3.26$0.97