Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $4,255,365

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $547,643 · excluded $547,643

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $8,345,667

• 7b · Less cost or other basis and sales expenses

  securities $7,493,081

• 7c · Gain or loss

  securities $852,586 · other assets $0

• 7d · Net gain or loss

  total $852,586 · excluded $852,586

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,957,577 · program services $2,957,577

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $428,211 · program services $0 · management and general $69,452 · fundraising $358,759

• 7 · Other salaries and wages

  total $472,558 · program services $0 · management and general $76,645 · fundraising $395,913

• 11c · Fees: accounting

  total $21,500 · program services $0 · management and general $21,500 · fundraising $0

• 11e · Fees: professional fundraising services

  total $168,500 · fundraising $168,500

• 11f · Fees: investment management

  total $66,246 · program services $0 · management and general $66,246 · fundraising $0

• 11g · Fees: other

  total $39,641 · program services $0 · management and general $0 · fundraising $39,641

• 12 · Advertising and promotion

  total $23,075 · program services $0 · management and general $4,790 · fundraising $18,285

• 13 · Office expenses

  total $134,693 · program services $0 · management and general $70,557 · fundraising $64,136

• 14 · Information technology

  total $32,434 · program services $0 · management and general $0 · fundraising $32,434

• 17 · Travel

  total $492 · program services $0 · management and general $148 · fundraising $344

• 19 · Conferences, conventions and meetings

  total $2,524 · program services $0 · management and general $2,360 · fundraising $164

• 22 · Depreciation, depletion and amortization

  total $4,785 · program services $0 · management and general $4,785 · fundraising $0

• 24a · Other expenses: MISCELLANEOUS EXPENSES

  total $9,603 · program services $0 · management and general $8,726 · fundraising $877

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,852,273 · end of year $5,714,355

• 3 · Pledges and grants receivable

  beginning of year $34,367 · end of year $575,000

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,851 · end of year $2,286

• 10a · Land, buildings and equipment: cost or other basis

  $1,490,159

• 10b · Land, buildings and equipment: accumulated depreciation

  $977,165

• 10c · Land, buildings and equipment, net

  beginning of year $357,160 · end of year $512,994

• 11 · Investments: publicly traded securities

  beginning of year $19,975,290 · end of year $20,551,105

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $148,922 · end of year -$16,010

• 17 · Accounts payable and accrued expenses

  beginning of year $94,373 · end of year $213,261

• 19 · Deferred revenue

  beginning of year $54,500 · end of year $10,000

• 22 · Loans and payables to officers and key people

  end of year $0

• 25 · Other liabilities

  beginning of year $0 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $2,254,742 · end of year $3,646,406

• 28 · Net assets with donor restrictions

  beginning of year $21,969,248 · end of year $23,470,063

The filer's explanations (Part III)

Schedule J, Part I, Line 3

THE QUEENS BOROUGH PUBLIC LIBRARY (COMMON PAYMASTER FOR THE QUEENS LIBRARY FOUNDATION), CONDUCTED A COMPENSATION STUDY THAT INCLUDED THE EXECUTIVE DIRECTOR (TOP MANAGEMENT OFFICIAL) OF THE QUEENS LIBRARY FOUNDATION. THE QUEENS BOROUGH PUBLIC LIBRARY HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEYS OR STUDIES - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE