Civic Intelligence

Gloversville Library Foundation Inc

EIN 54-2171200 • 501(c)3 • Gloversville, NY

Profile

The foundations sole purpose is to raise funds in support of the gloversville public library in gloversville new york.

58 E Fulton StreetGloversville, NY 12078-3213

gloversvillelibrary.org/foundation

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

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

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

Liabilities / Revenue

19th 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

57%

Higher net margin than 91% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

55th percentile

5.7%

Faster asset growth than 55% of similar nonprofits.

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

Revenue Growth

96th percentile

201%

Faster revenue growth than 96% of similar nonprofits.

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

Assets

Up

$4,809,029

Up $257,540 (+5.7%) from 2023

Liabilities

Down

$0

Down $80 (-100%) from 2023

Net Assets

Up

$4,809,029

Up $257,620 (+5.7%) from 2023

Revenue

Up

$521,830

Up $348,717 (+201%) from 2023

Expenses

Up

$222,442

Up $65,192 (+41%) from 2023

Net Income

Up

$299,388

Up $283,525 (+1787%) from 2023

Trend Graphs

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $3,793,169Liabilities 2013: $02013Assets 2014: $5,754,850Liabilities 2014: $0Net Assets 2014: $5,754,8502014Assets 2015: $6,761,785Liabilities 2015: $0Net Assets 2015: $6,761,7852015Assets 2016: $7,799,462Liabilities 2016: $0Net Assets 2016: $7,799,4622016Assets 2017: $6,777,404Liabilities 2017: $300,379Net Assets 2017: $6,477,0252017Assets 2018: $5,688,687Liabilities 2018: $2,975,000Net Assets 2018: $2,713,6872018Assets 2019: $5,064,774Liabilities 2019: $1,590,872Net Assets 2019: $3,473,9022019Assets 2020: $4,504,529Liabilities 2020: $739,712Net Assets 2020: $3,764,8172020Assets 2021: $4,644,177Liabilities 2021: $405Net Assets 2021: $4,643,7722021Assets 2022: $4,328,697Liabilities 2022: $0Net Assets 2022: $4,328,6972022Assets 2023: $4,551,489Liabilities 2023: $80Net Assets 2023: $4,551,4092023Assets 2024: $4,809,029Liabilities 2024: $0Net Assets 2024: $4,809,0292024

Highlighted filing

2024

Assets$4,809,029
Liabilities$0
Net Assets$4,809,029

Operations Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2013: $636,400Expenses 2013: $260,308Net Income 2013: $376,0922013Revenue 2014: $1,426,753Expenses 2014: $500,463Net Income 2014: $926,2902014Revenue 2015: $1,492,794Expenses 2015: $317,155Net Income 2015: $1,175,6392015Revenue 2016: $1,045,972Expenses 2016: $290,576Net Income 2016: $755,3962016Revenue 2017: $287,494Expenses 2017: $1,980,216Net Income 2017: -$1,692,7222017Revenue 2018: $905,985Expenses 2018: $3,923,500Net Income 2018: -$3,017,5152018Revenue 2019: $292,455Expenses 2019: $175,292Net Income 2019: $117,1632019Revenue 2020: $274,225Expenses 2020: $77,334Net Income 2020: $196,8912020Revenue 2021: $588,015Expenses 2021: $37,023Net Income 2021: $550,9922021Revenue 2022: $170,096Expenses 2022: $137,812Net Income 2022: $32,2842022Revenue 2023: $173,113Expenses 2023: $157,250Net Income 2023: $15,8632023Revenue 2024: $521,830Expenses 2024: $222,442Net Income 2024: $299,3882024

Highlighted filing

2024

Revenue$521,830
Expenses$222,442
Net Income$299,388

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 4, 2025
Return Version
2024v5.1
Gross Receipts
$1,185,424
Mission and Program Overview

Mission

The foundations sole purpose is to raise funds in support of the gloversville public library in gloversville new york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,419,114$4,658,679▲ $239,565
Savings and Temporary Cash Investments$118,528$134,149▲ $15,621
Cash and Non-Interest-Bearing Accounts$13,847$16,201▲ $2,354
Total Assets$4,551,489$4,809,029▲ $257,540
Liabilities
Accounts Payable and Accrued Expenses$80--
Total Liabilities$80$0▼ $80
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,537,562$4,792,828▲ $255,266
Net Assets With Donor Restrictions$13,847$16,201▲ $2,354
Total Net Assets Fund Balance$4,551,409$4,809,029▲ $257,620
Total Liabilities and Net Assets / Fund Balance$4,551,489$4,809,029▲ $257,540
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael J FrankTreasurer Rec SecPT$7,500$9,000$16,500

Board Members and Trustees

NameTitle
Jeremiah WoodPresident - Chairman
Jill ThaiszVice Chairman
Carole GottungDirector
Charles W ReedDirector
Christine PessesDirector
Craig ClarkDirector
David R FisherDirector
Greg NiforosDirector
Michael PonticelloDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$82,844
Program Service Revenue
$0
Investment Income
$438,986
Other Revenue
$0
All Other Contributions
$22,726
Change in Net Assets
$299,388

Audited Revenue Reconciliation

Revenue per Audited Statements
$520,860
Revenue Not Reported on Financial Statements
$970
Revenue Not Reported on Form 990
$-41,767
Other Revenue Adjustments
$-1
Total Revenue per Audited Statements
$479,093
Total Revenue per Form 990
$521,830
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$203,466
Other Expenses$17,267
Total Fundraising Expense$4,525
Salaries, Compensation, and Employee Benefits$1,709
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$203,466--$203,466
Fees for Services Accounting$7,500$4,675-$12,175
Information Technology--$2,450$2,450
Other Salaries and Wages--$1,227$1,227
Office Expenses-$1,030-$1,030
Payroll Taxes--$482$482
Other Expenses$51$275$366$366
Total Functional Expenses$211,937$5,980$4,525$222,442

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$222,442
Expenses per Audited Statements$221,473
Total Expenses per Audited Statements$221,473
Expenses Not Reported on Financial Statements$969
Other Expense Adjustments$-2
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Gloversville Public LibraryGloversville, NY501c3Library Support$203,466
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Mail Solicitation$60,118-$4,525-
Total Events$60,118-$4,525$-4,525
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
Audit committee
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, Section B, Line 12C

At directors meetings board members are asked to report any transaction that might result in a conflict of interest with the foundation. This is documented in the minutes of the meetings.

Form 990, Part VI, Section B, Line 19

Copies of financial statements and governing documents may be obtained by contacting the library or the foundation treasurer at his address or phone number

Filing and Contact Details

Filer

Filer Name
Gloversville Library Foundation Inc
EIN
54-2171200
Phone
5187250653
Address
58 E FULTON STREET, GLOVERSVILLE, NY 12078-3213

Signing Officer

Name
Jeremiah Wood
Title
President
Phone
5187250653
Signed
2025-06-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremiah Wood
Formed
2005
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
20

Preparer

Firm
Mike's Accounting Service
Address
186 Beech Street, Mayfield, NY 12117-3507
Preparer
Michael J Frank
Phone
5186615328
Supplemental Narrative

Financial Statement Notes

XI 4B

ROUNDING DIFFERENCES

XII 4B

ROUNDING DIFFERENCES

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IRS990ScheduleA/FactsAndCircumstancesTestTxt0Part III Section A Line 10 THE GLOVERSVILLE LIBRARY FOUNDATION WAS ESTABLISHED TO PROVIDE SUPPORT FOR THE GLOVERSVILLE PUBLIC LIBRARY, A 501-C-3 CORPORATION WHICH AS A PUBLIC TAX PAYER SUPPORTED ORGANIZATION CANNOT CONDUCT FUNDRAISING ACTIVITIES. THE FOUNDATION RECEIVES BEQUESTS AND OTHER DONATIONS TO HELP IN SUPPORTING THE PUBLIC LIBRARY. THE FOUNDATION INVESTS LARGE BEQUESTS IN ORDER TO RAISE ADDITIONAL FUNDS TO SUPPORT THE LIBRARY. FROM TIME TO TIME FUNDRAISING IS CONDUCTED IN SUPPORT OF THE LIBRARY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PUBLIC SUPPORT IS WELL IN EXCESS OF 10 AT APPROXIMATELY 28 FOR 2024. THIS PERCENTAGE IS LOWER THAN NORMAL DUE TO LARGE UNUSUAL REALIZED CAPITAL GAINS FROM INVESTMENTS TAKEN TO REPOSITION THE FOUNDATIONS PORTFOLIO BASED ON CURRENT INTEREST RATES AND ANTICIPATED FUTURE INTEREST RATES. DONATIONS RECEIVED HAVE HISTORICALLY COME FROM THE LOCAL COMMUNITY AT LARGE AND NOT FROM ONE FAMILY OR ORGANIZATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE GLOVERSVILLE LIBRARY FOUNDATION, INC. HAS A GOVERNING BODY REPRESENTATIVE OF THE BROAD INTERESTS OF THE PUBLIC, INCLUDING COMMUNITY LEADERS AND PERSONS ELECTED BY A BROADLY BASED MEMBERSHIP. THE GLOVERSVILLE PUBLIC LIBRARY FACILITY SUPPORTED BY THE ORGANIZATION IS AVAILABLE TO THE PUBLIC ON A REGULAR AND CONTINUING BASIS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part III Section A Line 10
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part III Section A Line 10
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt082844
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt041797
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt044784
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt076128
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt026324
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0271877
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0157299
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0134907
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0128434
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0121350
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0136475
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0678465
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0157299
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0134907
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0128434
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0121350
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0136475
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0678465
IRS990ScheduleA/InvestmentIncomeCYPct00.71390
IRS990ScheduleA/InvestmentIncomePYPct00.72060
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PrivateFoundation170Ind0X
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.28610
IRS990ScheduleA/PublicSupportPY509Pct00.27940
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt0271877
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt082844
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt041797
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt044784
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt076128
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt026324
IRS990ScheduleA/Total509Grp/TotalAmt0271877
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0240143
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0176704
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0173218
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0197478
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0162799
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0950342
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/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0969
IRS990ScheduleD/ExpensesSubtotalAmt0221473
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0971
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0971
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-41767
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-2
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-1
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt0-41767
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0970
IRS990ScheduleD/RevenueSubtotalAmt0520860
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ROUNDING DIFFERENCES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING DIFFERENCES
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0XI 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1XII 4B
IRS990ScheduleD/TotalExpensesPerForm990Amt0222442
IRS990ScheduleD/TotalRevenuePerForm990Amt0521830
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0479093
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0221473
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/CntrctWith3rdPrtyForGameRevInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt060118
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt060118
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt04525
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0MAIL SOLICITATION
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt060118
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt060118
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-4525
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt04525
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt04525
IRS990ScheduleG/GamingWithNonmembersInd0false
IRS990ScheduleG/LicensedStatesCd0NY
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/MemberOfOtherEntityInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0203466
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0LIBRARY SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GLOVERSVILLE PUBLIC LIBRARY
IRS990ScheduleI/RecipientTable/RecipientEIN0203042321
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt058 E FULTON STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0GLOVERSVILLE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd012078
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0Book
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AT DIRECTORS MEETINGS BOARD MEMBERS ARE ASKED TO REPORT ANY TRANSACTION THAT MIGHT RESULT IN A CONFLICT OF INTEREST WITH THE FOUNDATION. THIS IS DOCUMENTED IN THE MINUTES OF THE MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPIES OF FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS MAY BE OBTAINED BY CONTACTING THE LIBRARY OR THE FOUNDATION TREASURER AT HIS ADDRESS OR PHONE NUMBER
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04551489
IRS990/TotalAssetsEOYAmt04809029
IRS990/TotalAssetsGrp/BOYAmt04551489
IRS990/TotalAssetsGrp/EOYAmt04809029
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt082844
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt04525
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05980

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