Civic Intelligence

The Wellesley Free Library Foundation Inc

990 • Fiscal year 2019 • EIN 26-3194155

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

Organization ProfileN/A
530 Washington StreetWellesley, MA 02482

(781) 235-1610

Siviq Scores

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

Liabilities / Assets

24th percentile

0.02x

Higher debt load relative to assets than 24% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

0.38x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

7th percentile

-43%

Higher net margin than 7% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

42nd percentile

1.2%

Faster asset growth than 42% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-54%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$5,462,521

Up $62,642 (+1.2%) from 2018

Net Assets

Up

$5,342,636

Up $88,771 (+1.7%) from 2018

Liabilities

Down

$119,885

Down $26,129 (-18%) from 2018

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin7th percentile

Revenue

Down

$312,151

Down $360,656 (-54%) from 2018

Expenses

Up

$445,407

Up $31,221 (+7.5%) from 2018

Net Income

Down

-$133,256

Down $391,877 (-152%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $129,285Liabilities 2011: $2,085Net Assets 2011: $127,2002011Assets 2012: $328,905Liabilities 2012: $6,235Net Assets 2012: $322,6702012Assets 2013: $460,859Liabilities 2013: $6,085Net Assets 2013: $454,7742013Assets 2014: $543,652Liabilities 2014: $6,085Net Assets 2014: $537,5672014Assets 2015: $4,615,131Liabilities 2015: $19,749Net Assets 2015: $4,595,3822015Assets 2016: $5,021,054Liabilities 2016: $28,505Net Assets 2016: $4,992,5492016Assets 2017: $5,114,884Liabilities 2017: $126,533Net Assets 2017: $4,988,3512017Assets 2018: $5,399,879Liabilities 2018: $146,014Net Assets 2018: $5,253,8652018Assets 2019: $5,462,521Liabilities 2019: $119,885Net Assets 2019: $5,342,6362019Assets 2020: $5,458,539Liabilities 2020: $99,649Net Assets 2020: $5,358,8902020Assets 2021: $6,911,551Liabilities 2021: $539,429Net Assets 2021: $6,372,1222021Assets 2022: $6,682,036Liabilities 2022: $336,555Net Assets 2022: $6,345,4812022Assets 2023: $6,745,076Liabilities 2023: $325,532Net Assets 2023: $6,419,5442023Assets 2024: $7,071,783Liabilities 2024: $388,059Net Assets 2024: $6,683,7242024Assets 2025: $7,766,428Liabilities 2025: $310,383Net Assets 2025: $7,456,0452025

Highlighted filing

2019

Assets$5,462,521
Liabilities$119,885
Net Assets$5,342,636
Open 2019 Filing

Operations Trend

Revenue Growth5th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $31,4712011Expenses 2012: $99,3322012Expenses 2013: $103,9862013Revenue 2014: $309,806Expenses 2014: $227,013Net Income 2014: $82,7932014Revenue 2015: $4,581,892Expenses 2015: $427,758Net Income 2015: $4,154,1342015Revenue 2016: $779,786Expenses 2016: $414,075Net Income 2016: $365,7112016Revenue 2017: $340,031Expenses 2017: $343,795Net Income 2017: -$3,7642017Revenue 2018: $672,807Expenses 2018: $414,186Net Income 2018: $258,6212018Revenue 2019: $312,151Expenses 2019: $445,407Net Income 2019: -$133,2562019Revenue 2020: $735,877Expenses 2020: $448,909Net Income 2020: $286,9682020Revenue 2021: $1,230,094Expenses 2021: $1,119,906Net Income 2021: $110,1882021Revenue 2022: $1,467,125Expenses 2022: $631,762Net Income 2022: $835,3632022Revenue 2023: $523,014Expenses 2023: $518,971Net Income 2023: $4,0432023Revenue 2024: $707,548Expenses 2024: $673,896Net Income 2024: $33,6522024Revenue 2025: $1,056,610Expenses 2025: $479,071Net Income 2025: $577,5392025

Highlighted filing

2019

Revenue$312,151
Expenses$445,407
Net Income-$133,256
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
$459,671
Mission and Program Overview

Mission

To enrich, not replace, traditional tax-based support for the library through gifts, grants, and bequests from individuals and organizations, while reinforcing the need for continued and increased public support for the library.

The foundation was formed to support the wellesley free library, which is a department of the town of wellesley, massachusetts. The support includes a broad range of library needs such as materials, building maintenance, furnishings and programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,771,812$4,973,233▲ $201,421
Savings and Temporary Cash Investments$411,744$259,708▼ $152,036
Cash and Non-Interest-Bearing Accounts$13,530$25,107▲ $11,577
Prepaid Expenses and Deferred Charges$430$430→ $0
Total Assets$5,399,879$5,462,521▲ $62,642
Other Assets Total$202,363$204,043▲ $1,680
Liabilities
Grants Payable$103,537$103,373▼ $164
Accounts Payable and Accrued Expenses$42,477$16,512▼ $25,965
Total Liabilities$146,014$119,885▼ $26,129
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,411,993$4,610,558▲ $198,565
Unrestricted Net Assets$841,872$732,078▼ $109,794
Total Net Assets Fund Balance$5,253,865$5,342,636▲ $88,771
Total Liabilities and Net Assets / Fund Balance$5,399,879$5,462,521▲ $62,642

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$4,931,861$22,347▲ $395,072-$5,168,837
2017$4,780,636$57,305▲ $309,016-$4,931,861
2016$4,551,886$93,724▲ $304,880-$4,780,636
2015$3,865,814$431,903▲ $437,930-$4,551,886
2014$68,765$3,865,778▲ $93,887-$3,865,814
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
William McnamaraPresident
Barbara McmahonVice President
Amy Fuller BoydDirector
Cynthia StraussDirector
Johanna MurrayDirector
Kara Reinhardt BlockDirector
Linda WilkinsDirector
Mary KloppenbergDirector
Michael CaseyDirector
Nicole BeauregardDirector
Peter MongeauDirector
Samuel RubensteinDirector
Susan MarandettDirector
Bridget BettigoleClerk
Kevin MacdonaldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$136,767
Program Service Revenue
$0
Investment Income
$175,384
Other Revenue
$0
All Other Contributions
$136,767
Change in Net Assets
$-133,256

Audited Revenue Reconciliation

Revenue per Audited Statements
$274,238
Revenue Not Reported on Financial Statements
$37,913
Revenue Not Reported on Form 990
$222,027
Total Revenue per Audited Statements
$496,265
Total Revenue per Form 990
$312,151
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$283,500
Other Expenses$161,907
Total Fundraising Expense$25,697
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$283,500--$283,500
Fees for Services Other-$74,823-$74,823
Fees for Service Investment Mgmnt Fees-$37,913-$37,913
Fees for Services Accounting-$15,000-$15,000
Other Expenses--$8,725$8,725
Office Expenses-$7,057-$7,057
Insurance-$613-$613
Advertising-$407-$407
Information Technology-$384-$384
Fees for Services Legal-$13-$13
Total Functional Expenses$283,500$136,210$25,697$445,407

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$445,407
Expenses per Audited Statements$407,494
Total Expenses per Audited Statements$407,494
Expenses Not Reported on Financial Statements$37,913
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wellesley Free LibraryWellesley, MA-To Support the Library Operations and Programs$283,500
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
Audit committee
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

“Draft submitted for review and approval to board of directors”

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

“The foundation distributes a conflict of interest policy and certification forms annually to all board memeber to be signed.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
The Wellesley Free Library Foundation
EIN
26-3194155
Phone
7812351610
Address
530 WASHINGTON STREET, WELLESLEY, MA 02482

Signing Officer

Name
Kara Reinhardt Block
Title
President
Phone
7812351610
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kara Reinhardt Block
Formed
2008
Legal Domicile
Ma
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
30

Preparer

Firm
Anstiss & Co Pc
Address
1115 WESTFORD STREET, LOWELL, MA 01851
Preparer
Jayne a Andrews
Phone
9784522500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Assistant: program service expenses 0. Management and general expenses 793. Fundraising expenses 0. Total expenses 793. Director of devt: program service expenses 0. Management and general expenses 74,030. Fundraising expenses 0. Total expenses 74,030.”

Financial Statement Notes

PART X, LINE 2:

“The foundation has been recognized as tax-exempt under internal revenue code section 501(c)(3) and is, therefore, generally exempt from federal and state income taxes. Accordingly, no provision for income taxes has been provided for in the accompanying financial statements. Asc 740-10, "accounting for uncertainty in income taxes," requires the foundation to evaluate and disclose tax positions that could have an effect on the foundation's financial statements. The foundation reports its activities to the internal revenue service and to the commonwealth of massachusetts on an annual basis. These informational returns are generally subject to audit and review by the governmental agencies for a period of three years after filing. Substantially all of the foundation's income, expenditures and activities relate to its exempt purpose, therefore, management has determined that the foundation is not subject to material unrelated business income taxes and will continue to qualify as a tax-exempt not-for-profit entity.”

Raw XML AppendixShowing 400 of 531 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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IRS990/InvestmentIncomeGrp/ExclusionAmt0133445
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0133445
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt04771812
IRS990/InvestmentsPubTradedSecGrp/EOYAmt04973233
IRS990/IRPDocumentCnt07
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0MA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0147520
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO ENRICH, NOT REPLACE, TRADITIONAL TAX-BASED SUPPORT FOR THE LIBRARY THROUGH GIFTS, GRANTS, AND BEQUESTS FROM INDIVIDUALS AND ORGANIZATIONS, WHILE REINFORCING THE NEED FOR CONTINUED AND INCREASED PUBLIC SUPPORT FOR THE LIBRARY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt05253865
IRS990/NetAssetsOrFundBalancesEOYAmt05342636
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt036158
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt036158
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0222027
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt016346
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07057
IRS990/OfficeExpensesGrp/TotalAmt07057
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0202363
IRS990/OtherAssetsTotalGrp/EOYAmt0204043
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0FELLS BRANCH OPENING
IRS990/OtherExpensesGrp/Desc1ANNUAL APPEAL
IRS990/OtherExpensesGrp/FundraisingAmt016972
IRS990/OtherExpensesGrp/FundraisingAmt18725
IRS990/OtherExpensesGrp/TotalAmt016972
IRS990/OtherExpensesGrp/TotalAmt18725
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0430
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0430
IRS990/PrincipalOfficerNm0KARA REINHARDT BLOCK
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0TO ENRICH, NOT REPLACE, TRADITIONAL TAX-BASED SUPPORT FOR THE LIBRARY THROUGH GIFTS, GRANTS, AND BEQUESTS FROM INDIVIDUALS AND ORGANIZATIONS, WHILE REINFORCING THE NEED FOR CONTINUED AND INCREASED PUBLIC SUPPORT FOR THE LIBRARY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0140468
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0140468
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0386499
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0272322
IRS990/PYInvestmentIncomeAmt0302559
IRS990/PYOtherExpensesAmt0141864
IRS990/PYOtherRevenueAmt0-16251
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0258621
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0414186
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0672807
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-133256
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0411744
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0259708
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0046001343
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0283500
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0WELLESLEY FREE LIBRARY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0283500
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.10800
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt038111
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt04931861
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt022347
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt05168837
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0142332
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0395072
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt037187
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt04780636
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt057305
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt04931861
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0177909
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0309016
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt035063
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt04551886
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt093724
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt04780636
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0134791
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0304880
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt032012
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt03865814
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0431903
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt04551886
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0151749
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0437930
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt029301
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt068765
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt03865778
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt03865814
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0133315
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt093887
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt037913
IRS990ScheduleD/ExpensesSubtotalAmt0407494
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt037913
IRS990ScheduleD/InvestmentExpensesNotIncldAmt037913
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0222027
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.11840
IRS990ScheduleD/RevenueNotReportedAmt0222027
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt037913
IRS990ScheduleD/RevenueSubtotalAmt0274238
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS BEEN RECOGNIZED AS TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS, THEREFORE, GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED FOR IN THE ACCOMPANYING FINANCIAL STATEMENTS. ASC 740-10, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES," REQUIRES THE FOUNDATION TO EVALUATE AND DISCLOSE TAX POSITIONS THAT COULD HAVE AN EFFECT ON THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION REPORTS ITS ACTIVITIES TO THE INTERNAL REVENUE SERVICE AND TO THE COMMONWEALTH OF MASSACHUSETTS ON AN ANNUAL BASIS. THESE INFORMATIONAL RETURNS ARE GENERALLY SUBJECT TO AUDIT AND REVIEW BY THE GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS AFTER FILING. SUBSTANTIALLY ALL OF THE FOUNDATION'S INCOME, EXPENDITURES AND ACTIVITIES RELATE TO ITS EXEMPT PURPOSE, THEREFORE, MANAGEMENT HAS DETERMINED THAT THE FOUNDATION IS NOT SUBJECT TO MATERIAL UNRELATED BUSINESS INCOME TAXES AND WILL CONTINUE TO QUALIFY AS A TAX-EXEMPT NOT-FOR-PROFIT ENTITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.77360
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0445407
IRS990ScheduleD/TotalRevenuePerForm990Amt0312151
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0496265
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0407494
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0283500
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT THE LIBRARY OPERATIONS AND PROGRAMS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0WELLESLEY FREE LIBRARY
IRS990ScheduleI/RecipientTable/RecipientEIN0046001343
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0530 WASHINGTON STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WELLESLEY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002482
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS OF THE WELLESLEY FREE LIBRARY PARTICPATE IN WELLESELY FREE LIBRARY FOUNDATION'S MONTHLY MEETINGS AND REPORT BACK ON USE OF GRANT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DRAFT SUBMITTED FOR REVIEW AND APPROVAL TO BOARD OF DIRECTORS

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,462,521
Liabilities
$119,885
Net assets
$5,342,636
Revenue
$312,151
Expenses
$445,407
Net income
-$133,256
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.77$0.31$7.46$1.06$0.48$0.58
2024Detailed filing. Detailed filing data is available for this year.$7.07$0.39$6.68$0.71$0.67$0.03
2023Detailed filing. Detailed filing data is available for this year.$6.75$0.33$6.42$0.52$0.52$0.00
2022Detailed filing. Detailed filing data is available for this year.$6.68$0.34$6.35$1.47$0.63$0.84
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.91$0.54$6.37$1.23$1.12$0.11
2020Detailed filing. Detailed filing data is available for this year.$5.46$0.10$5.36$0.74$0.45$0.29
2019Detailed filing. Detailed filing data is available for this year.$5.46$0.12$5.34$0.31$0.45$0.13
2018Detailed filing. Detailed filing data is available for this year.$5.40$0.15$5.25$0.67$0.41$0.26
2017Detailed filing. Detailed filing data is available for this year.$5.11$0.13$4.99$0.34$0.34$0.00
2016Detailed filing. Detailed filing data is available for this year.$5.02$0.03$4.99$0.78$0.41$0.37
2015Detailed filing. Detailed filing data is available for this year.$4.62$0.02$4.60$4.58$0.43$4.15
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.01$0.54$0.31$0.23$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.01$0.45$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.01$0.32$0.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$0.00$0.13$0.03