Overview
What is The Newtown Library Company?
The Newtown Library Company is a nonprofit organization situated in Newtown, Pennsylvania, with a single employee managing its daily operations. Their primary focus lies in the acquisition, distribution, and conservation of reading materials, ensuring a wide range of literary resources are available for the community. The company is responsible for maintaining and overseeing its collection, contributing to the educational and entertainment needs of its users.
Official website here: www.newtownlibrarycompany.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 43%
The Newtown Library Company has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial performance. With an overall score of 43%, the organization demonstrates strengths in board independence and governance practices, but suffers from critical weaknesses that impact its rating.
Notably, the library has a fully independent board and no material diversion of assets, which are positive indicators of governance. However, the absence of key policies, such as a whistleblower policy and document retention and destruction measures, raises governance concerns. Additionally, the organization's financial health is troubling, as it has a low program expense ratio of 49.77% and a 0.00% liabilities to assets ratio, suggesting potential financial instability.
Overall, while The Newtown Library Company shows some governance strengths, its lack of essential policies and poor financial metrics contribute to its low rating. These factors may detract from public trust and its ability to effectively serve its community.
This AI summary has been generated from information found on Charity Navigator.
Is The Newtown Library Company legitimate?
The Newtown Library Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Newtown Library Company submitted a form 990, 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: $29,583
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.newtownlibrarycompany.org
What is the mission statement of The Newtown Library Company?
The Newtown Library Company's mission revolves around the acquisition, distribution, and conservation of reading materials. In essence, they are dedicated to procuring a wide range of literature and ensuring its availability to the public. Furthermore, they are committed to preserving these collections, ensuring they remain in good condition for future use. The library's operations are overseen by a librarian who oversees daily operations and maintains the care of these collections.
Official website here: www.newtownlibrarycompany.org
What is the revenue of The Newtown Library Company?
The Newtown Library Company's revenue in 2023 was $114,030.
Official website here: www.newtownlibrarycompany.org
Who are the executives of The Newtown Library Company and what are their salaries?
The average compensation at The Newtown Library Company during 2023 was $29,583. There is 1 employee and 6 volunteers at The Newtown Library Company.
Here are 5 key members and their salaries:
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Official website here: www.newtownlibrarycompany.org
Where can I find the form 990 for The Newtown Library Company?
The Newtown Library Company's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.newtownlibrarycompany.org
Learn more at the official website: www.newtownlibrarycompany.org
Mission Statement of The Newtown Library Company
The Newtown Library Company, as a nonprofit organization, is dedicated to the acquisition, distribution, and conservation of reading material. This mission involves overseeing the daily operations of the library and ensuring the maintenance of its extensive collection. The librarian at The Newtown Library Company plays a critical role in this process, managing the library's resources and preserving its valuable collections for the benefit of its users. By providing easy access to a diverse range of reading materials, The Newtown Library Company fosters a love for knowledge and learning within its community.
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Impact
October, 2024
The Newtown Library Company plays a vital role in the community by acquiring, distributing, and conserving reading material. Its dedicated librarian supervises daily operations, ensuring that the library’s collections are well-maintained and accessible to all. By fostering a love for reading and providing a diverse range of educational resources, the library enhances literacy and learning opportunities for residents of Newtown, PA. Through its efforts, The Newtown Library Company creates a supportive environment for education, promoting personal growth and community engagement.
This information is meant to be a general summary of The Newtown Library Company. 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 2023.
- Investment Income: $42,343
- Gross Receipts: $127,108
Assets and Liabilities:
- Total Assets: $1,883,029
- Total Liabilities: $0
- Net Assets: $1,883,029
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Organization Details
Founding Year
1800
Principal Officer
Stephen Haeckel
NTEE Category
Code: B70 - Education
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