Overview
What is Friends Of The Library Of Olean Ny Inc?
Friends of the Library of Olean NY Inc is a dedicated nonprofit organization that primarily focuses on raising funds for the endowment of their local library. By successfully doing so, the library annually receives a 7% share of the endowment's fair market value. Beyond this financial assistance, the organization has also made significant contributions by providing books for newborns and awarding prizes for literary competitions. Furthermore, they have extended their support to the library through a cash gift. These initiatives benefit the residents of Olean and its surrounding areas, contributing positively to their local public library.
Is Friends Of The Library Of Olean Ny Inc legitimate?
Friends Of The Library Of Olean Ny Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The Library Of Olean Ny Inc submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Friends Of The Library Of Olean Ny Inc?
The mission of Friends Of The Library Of Olean Ny Inc is primarily focused on raising funds for an endowment that benefits a local library. Upon reaching its market value, the library receives 7% of the endowment annually. Beyond this financial support, the organization also provides books for newborns and recognizes literary achievements through contests. Furthermore, they have made a generous cash gift to the library, contributing to the betterment of the local public library and the residents residing in the city of Olean and its surrounding areas.
What is the revenue of Friends Of The Library Of Olean Ny Inc?
Friends Of The Library Of Olean Ny Inc's revenue in 2024 was $33,601.
Who are the executives of Friends Of The Library Of Olean Ny Inc and what are their salaries?
Here are 3 key members and their salaries:
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Where can I find the form 990EZ for Friends Of The Library Of Olean Ny Inc?
Friends Of The Library Of Olean Ny Inc's most recent form 990EZ was submitted in 2024 and can be accessed here.
Mission Statement of Friends Of The Library Of Olean Ny Inc
Friends of the Library of Olean NY Inc is a dedicated organization with a mission to support their local public library. Their primary goal is to raise funds for an endowment fund, ensuring that the library receives a percentage of its market value annually. This financial support is crucial for the library's operations and growth. Beyond financial contributions, Friends of the Library also engages in other supportive activities. They provide books for newborns, contributing to early literacy development in the community. Furthermore, they organize literary contests, encouraging literary enthusiasm and creativity among residents. Lastly, the organization shows its commitment to the library by making a cash gift to the institution. In essence, Friends of the Library of Olean NY Inc plays a vital role in enhancing the library's resources and promoting literacy among its community members.
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Impact
August, 2024
Friends Of The Library Of Olean Ny Inc has a significant impact on the community by raising money for the Library endowment fund. This fund ensures the sustainability of the local Library, benefiting residents of the city of Olean and surrounding areas. Additionally, the organization provides books for newborns, awards for literary contests, and makes cash gifts to the Library. Through their support, Friends Of The Library Of Olean Ny Inc plays a crucial role in promoting education and literacy in the community.
This information is meant to be a general summary of Friends Of The Library Of Olean Ny Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $7,357
- Gross Receipts: $34,566
Assets and Liabilities:
- Total Assets: $289,157
- Total Liabilities: $0
- Net Assets: $289,157
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Organization Details
Principal Officer
Carol Lindamer
NTEE Category
Code: B70 - Education
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