Form 990 for tax year 2022

Filed by MCCORD MEMORIAL LIBRARY ASSOCIATION.

Totals

Total revenue: $534,730
Total expenses: $272,441
Contributions and grants received: $234,675
Grants paid: $0
Program service revenue: $9,240
Investment income: $282,841
Other revenue: $7,974
Total assets, end of year: $3,564,420
Total liabilities, end of year: $3,091
Net assets or fund balances, end of year: $3,561,329
Program services expenses (Part IX): $230,770
Management and general expenses: $39,396
Fundraising expenses: $2,275
Program service expenses (Part III): $230,770

Program services were 84.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1e · Government grants (contributions)

$192,775
1f · All other contributions, gifts and grants

$41,900
2a · Program service revenue: Programs, fines and fe

total $9,240 · related or exempt $9,240
3 · Investment income

total $56,543 · excluded $56,543
7a · Gross sales of assets other than inventory

securities $1,038,614
7b · Less cost or other basis and sales expenses

securities $812,316
7c · Gain or loss

securities $226,298
7d · Net gain or loss

total $226,298 · excluded $226,298
8a · Fundraising events: gross income

$7,974
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $7,974 · excluded $7,974

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $153,236 · program services $145,574 · management and general $7,662
10 · Payroll taxes

total $11,032 · program services $10,480 · management and general $552
11c · Fees: accounting

total $3,160 · management and general $3,160
11f · Fees: investment management

total $15,054 · management and general $15,054
12 · Advertising and promotion

total $300 · management and general $300
13 · Office expenses

total $13,486 · program services $8,819 · management and general $2,392 · fundraising $2,275
16 · Occupancy

total $12,982 · program services $6,833 · management and general $6,149
24a · Other expenses: Maintenance

total $34,228 · program services $30,101 · management and general $4,127
24b · Other expenses: Books & magazine

total $17,025 · program services $17,025
24c · Other expenses: Audiovisual & computer

total $8,616 · program services $8,616
24d · Other expenses: Furniture/Equipment pur

total $3,322 · program services $3,322

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $82,503 · end of year $54,473
10a · Land, buildings and equipment: cost or other basis

$1,618,839
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $1,618,839 · end of year $1,618,839
11 · Investments: publicly traded securities

beginning of year $2,266,894 · end of year $1,862,578
12 · Investments: other securities

beginning of year $32,773 · end of year $28,530
17 · Accounts payable and accrued expenses

beginning of year $3,009 · end of year $3,091
27 · Net assets without donor restrictions

beginning of year $3,998,000 · end of year $3,561,329

Mission and programs · 2022

Mission

Dedicated to serving the North East area by assembling, organizing, preserving and making accessible books, materials and evolving technologies to provide stimulation, education and recreation for all citizens.

Activities or mission (Part I)

Public Library

McCord Memorial Library has served the community of North East for 100 years. It is an independent library located in Erie County, Pennsylvania. It serves a community of approximately 12,000 inhabitants, of which over 10,000 are active library patrons. Its collection consists of over 45,000 items, including print and non-print items. The Library has a growing collection of audio and video titles, music CD's and computer software items for patron check out. The Library also provides internet access to its patrons free of charge. For its size, McCord maintains an extensive reference collection and a strong local history collection. They sponsor several juvenile story hours per week; do extensive community outreach to Head Start, local preschools and local public and parochial schools; and provide extensive special juvenile programming to promote literacy. McCord also provides a full calendar of adult programs. They do significant on site and phone reference services; participate in Access PA and Power Access; work with the area adult education center to proved literacy volunteers for those who need them; and provide countless other services to the residents of the community. McCord is an important, vital and integral member of the North East community, serving a varied clientele of children, students and adults.

Expenses $230,770 · Revenue $9,240

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Lorraine Benedict

Vice President

Total calculated

$0

Hours/week

1
Dennis Priester

President

Total calculated

$0

Hours/week

1
April Boyd

Treasurer

Total calculated

$0

Hours/week

1
Joyce Beardsley

Secretary

Total calculated

$0

Hours/week

1
Richard Bardol

Trustee

Total calculated

$0

Hours/week

1
Christina Eastbourn

Trustee

Total calculated

$0

Hours/week

1
Aggie Huntley

Trustee

Total calculated

$0

Hours/week

1
Kathy Cunningham

Trustee

Total calculated

$0

Hours/week

1
Tim Ziek

Trustee

Total calculated

$0

Hours/week

1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 25 May 2023
IRS schema version: 2022v5.0
Source object: 202301569349301100

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