Civic Intelligence

Magness Public Library Foundation

990 • Fiscal year 2021 • EIN 83-0799753

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileN/A
118 W Main StreetMcminnville, TN 37110

(931) 473-2428

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

17th percentile

0.00x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

11th percentile

-18%

Higher net margin than 11% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

28th percentile

0.4%

Faster asset growth than 28% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

99th percentile

946%

Faster revenue growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$3,509,850

Up $13,269 (+0.4%) from 2020

Net Assets

Up

$3,509,850

Up $13,269 (+0.4%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin11th percentile

Revenue

Up

$74,713

Up $67,571 (+946%) from 2020

Expenses

Down

$88,072

Down $71,563 (-45%) from 2020

Net Income

Up

-$13,359

Up $139,134 (+91%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2018: $3,591,839Liabilities 2018: $0Net Assets 2018: $3,591,8392018Assets 2019: $3,627,194Liabilities 2019: $0Net Assets 2019: $3,627,1942019Assets 2020: $3,496,581Liabilities 2020: $0Net Assets 2020: $3,496,5812020Assets 2021: $3,509,850Liabilities 2021: $0Net Assets 2021: $3,509,8502021Assets 2022: $3,414,931Liabilities 2022: $0Net Assets 2022: $3,414,9312022Assets 2023: $3,366,227Liabilities 2023: $0Net Assets 2023: $3,366,2272023Assets 2024: $3,277,487Liabilities 2024: $0Net Assets 2024: $3,277,4872024

Highlighted filing

2021

Assets$3,509,850
Liabilities$0
Net Assets$3,509,850
Open 2021 Filing

Operations Trend

Revenue Growth99th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $3,622,652Expenses 2018: $6,505Net Income 2018: $3,616,1472018Revenue 2019: $51,120Expenses 2019: $103,852Net Income 2019: -$52,7322019Revenue 2020: $7,142Expenses 2020: $159,635Net Income 2020: -$152,4932020Revenue 2021: $74,713Expenses 2021: $88,072Net Income 2021: -$13,3592021Revenue 2022: $77,620Expenses 2022: $103,726Net Income 2022: -$26,1062022Revenue 2023: $43,616Expenses 2023: $111,155Net Income 2023: -$67,5392023Revenue 2024: $30,675Expenses 2024: $123,031Net Income 2024: -$92,3562024

Highlighted filing

2021

Revenue$74,713
Expenses$88,072
Net Income-$13,359
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.0
Gross Receipts
$183,210
Mission and Program Overview

Mission

To support and enhance the library resources of w.h. And edgar j. Magness community house and library, promote public use of the library, preserve and maintain the historic facility within which the library operates, and support the library's mission as a vital education resource for reading, knowledge acquisition, cultural enrichment, and community events in warren county specifically and middle tennessee generally.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,679,323$2,600,092▼ $79,231
Investments in Publicly Traded Securities$807,161$849,966▲ $42,805
Cash and Non-Interest-Bearing Accounts$10,097$59,792▲ $49,695
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,496,581$3,509,850▲ $13,269
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,496,581$3,509,850▲ $13,269
Total Net Assets Fund Balance$3,496,581$3,509,850▲ $13,269
Total Liabilities and Net Assets / Fund Balance$3,496,581$3,509,850▲ $13,269

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,434,045$208,955-
Other Land Buildings$16,047$36,532-
Land$150,000--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Ernest Smallman IiiPresident
Trevor GalliganVice President
Elizabeth MyersTrustee
Jean MarshTrustee
Np McwhirterTrustee
Patricia BigbeeTrustee
Rachel KillebrewTrustee
Suchitra MukherjiTrustee
Geoffrey BentSecretary
Justin TannerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$35,147
Program Service Revenue
$0
Investment Income
$24,653
Other Revenue
$14,913
All Other Contributions
$35,147
Change in Net Assets
$-13,359
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$88,072
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$79,231--$79,231
Fees for Service Investment Mgmnt Fees-$5,470-$5,470
Other Expenses$3,351$20-$20
Total Functional Expenses$82,582$5,490$0$88,072
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$14,913
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Magness Public Library Foundation
EIN
83-0799753
Address
118 W MAIN STREET, MCMINNVILLE, TN 37110

Signing Officer

Name
Ernest Smallman Iii
Title
President
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2018
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
0
Employees
0

Preparer

Firm
Totherow Haile & Welch CPAs PLLC
Address
2355 South Chancery St, McMinnville, TN 37110
Preparer
Jarrod B Underhill CPA
Phone
9316681272
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IRS990ScheduleA/TotalSupportAmt03778130
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0208955
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt02643000
IRS990ScheduleD/LandGrp/BookValueAmt0150000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0150000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt016047
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt036532
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt052579
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02600092
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/USAddress/ZIPCd037110
IRS990/VotingMembersGoverningBodyCnt010
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ERNEST SMALLMAN III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGNESS PUBLIC LIBRARY FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MAGN
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Totherow Haile & Welch CPAs PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02355 South Chancery St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0McMinnville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037110
ReturnHeader/PreparerPersonGrp/PhoneNum09316681272
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jarrod B Underhill CPA
ReturnHeader/ReturnTs02022-11-15T13:13:24-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ERNEST SMALLMAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0III
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,509,850
Liabilities
$0
Net assets
$3,509,850
Revenue
$74,713
Expenses
$88,072
Net income
-$13,359
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.28$0.00$3.28$0.03$0.12$0.09
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.37$0.00$3.37$0.04$0.11$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.41$0.00$3.41$0.08$0.10$0.03
2021Detailed filing. Detailed filing data is available for this year.$3.51$0.00$3.51$0.07$0.09$0.01
2020Detailed filing. Detailed filing data is available for this year.$3.50$0.00$3.50$0.01$0.16$0.15
2019Detailed filing. Detailed filing data is available for this year.$3.63$0.00$3.63$0.05$0.10$0.05
2018Detailed filing. Detailed filing data is available for this year.$3.59$0.00$3.59$3.62$0.01$3.62