Pierpont Morgan Library, The Morgan Library & Museum in New York, New York (NY)

Pierpont Morgan Library, The Morgan Library & Museum
Employer Identification Number (EIN)	131624146
Name of Organization	Pierpont Morgan Library
Secondary Name	The Morgan Library & Museum
Address	225 Madison Ave, New York, NY 10016-3405
Activities	Library
Subsection	Charitable Organization
Ruling Date	04/1925
Deductibility	Contributions are deductible
Foundation	Organization which receives a substantial part of its support from a governmental unit or the general public
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	03/2014
Assets	$50,000,000 to greater
Income	$50,000,000 to greater
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$336,019,343
Amount of Income	$185,122,741
Form 990 Revenue Amount	$41,530,000
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Libraries

Non-representatives - add comments:

Amount of income in 2014: $185,122,741

This organization:	$185,122,741
Other organizations performing similar types of work:	$900,446

Assets in 2014: $336,019,343

Pierpont Morgan Library, The Morgan Library & Museum:	$336,019,343
Other organizations performing similar types of work:	$2,134,549

Expenses in 2013: $22,444,658

Pierpont Morgan Library, The Morgan Library & Museum:	$22,444,658
Other organizations performing similar types of work:	$662,266

Income to expenses ratio in 2013: 8.2

This organization:	8.2
Other organizations performing similar types of work:	1.1

Expenses allocated to program services in 2007: 72.8%

This organization:	72.8%
Other organizations performing similar types of work:	84.2%

Number of employees in 2013: 245

Pierpont Morgan Library, The Morgan Library & Museum:	245
Other organizations performing similar types of work:	16

Employees paid over $100,000 in 2013: 8.2%

This organization:	8.2%
Other organizations performing similar types of work:	0.0%

Grants share in income in 2013: 61.1%

This organization:	61.1%
Other organizations performing similar types of work:	77.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

	2012	2013
Checklist
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?	Yes	Yes
Is the organization required to complete Schedule B, Schedule of Contributors?	Yes	Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?	No	No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?	No	No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?	No	No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?	No	No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?	No	No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?	Yes	Yes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?	No	No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?	Yes	Yes
Did the organization report an amount for land, buildings, and equipment?	Yes	Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?	Yes	Yes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?	No	No
Did the organization report an amount for other assets that is 5% or more of its total assets?	No	No
Did the organization report an amount for other liabilities?	Yes	Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?	Yes	Yes
Did the organization obtain separate, independent audited financial statements for the tax year?	Yes	Yes
Was the organization included in consolidated, independent audited financial statements for the tax year?	No	No
Is the organization a school described in section 170(b)(1)(A)(ii)?	No	No
Did the organization maintain an office, employees, or agents outside of the United States?	No	No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?	No	Yes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?	No	No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?	No	No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?	No	No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?	Yes	Yes
Did the organization report more than $15,000 of gross income from gaming activities?	No	No
Did the organization operate one or more hospital facilities?	No	No
Did the organization attach a copy of its audited financial statements?	No	No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?	Yes	Yes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?	Yes	Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?	Yes	Yes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?	No	No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?	No	No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?	No	No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?	No	No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?	No	No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?	No	No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?	No	No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?	No	No
A family member of a current or former officer, director, trustee, or key employee?	No	No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?	No	No
Did the organization receive more than $25,000 in non-cash contributions?	Yes	Yes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?	Yes	Yes
Did the organization liquidate, terminate, or dissolve and cease operations?	No	No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?	No	No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?	No	No
Was the organization related to any tax-exempt or taxable entity?	No	No
Did the organization have a controlled entity within the meaning of section 512(b)(13)?	No	No
Did the organization make any transfers to an exempt non-charitable related organization?	No	No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?	No	No

	2011	2012	2013
Statements Regarding Other IRS Filings and Tax Compliance
The number reported in Box 3 of Form 1096		110	121
The number of Forms W-2G		0	0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?		No	Yes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return		249	245
Did the organization file all required federal employment tax returns?		Yes	Yes
Did the organization have unrelated business gross income of $1,000 or more during the year?	Yes	Yes	Yes
Has it filed a Form 990-T for this year?		Yes	Yes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?		No	No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?		No	No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?		No	No
Did the organization file Form 8886-T?		No	No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?		No	No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?		No	No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?		Yes	Yes
Did the organization notify the donor of the value of the goods or services provided?		Yes	Yes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?		No	No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?		No	No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?		No	No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?		No	No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?		No	No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?		No	No
Did the sponsoring organization make any taxable distributions under section 4966?		No	No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?		No	No
Initiation fees and capital contributions	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0
Gross income from members or shareholders	$0	$0	$0
Gross income from other sources	$0	$0	$0
Is the organization filing Form 990 in lieu of Form 1041?		No	No
The amount of tax-exempt interest received or accrued during the year		$0	$0
Is the organization licensed to issue qualified health plans in more than one state?		No	No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans		$0	$0
The amount of reserves on hand		$0	$0
Did the organization receive any payments for indoor tanning services during the tax year?		No	No
Has it filed a Form 720 to report these payments?		No	No

	2012	2013
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization	$1,613,514	$1,706,792
Total reportable compensation from related organizations	$0	$0
Total estimated amount of other compensation from the organization and related organizations	$369,070	$296,626
Total number of individuals who received more than $100,000 of reportable compensation from the organization	10	13
Total number of independent contractors who received more than $100,000 of compensation from the organization	10	7

	2011	2012	2013
Statement of Revenue
Total revenue	$24,409,280	$27,923,395	$23,177,157
Contributions, Gifts, Grants and Other Similar Amounts	$15,174,670	$14,926,144	$14,149,733
Program Service Revenue	$1,888,164	$2,005,794	$2,438,407
900099		$1,124,767	$1,329,051
900099		$700,196	$804,566
900099		$125,790	$140,626
All other program service revenue		$55,041	$164,164
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$2,205,890	$2,485,032	$2,382,305
Income from investment of tax-exempt bond proceeds	$0	$0	$0
Royalties	$2,136	$13,647	$5,797
Net rental income	$21,839	$22,363	$16,903
Gross rents (Real / Personal)	$72,000 / $0	$72,000 / $0	$72,000 / $0
Less: rental expenses (Real / Personal)	$50,161 / $0	$49,637 / $0	$55,097 / $0
Rental income or (loss) (Real / Personal)	$21,839 / $0	$22,363 / $0	$16,903 / $0
Net gain/loss from sales of assets other than inventory	$4,899,358	$8,334,428	$3,780,501
Gross amount from sales of assets other than inventory (Securities / Other)	$111,664,475 / $8,016,870	$83,906,126 / $13,759,888	$104,961,291 / $2,247,471
Less: cost or other basis and sales expenses (Securities / Other)	$108,421,265 / $6,360,722	$81,898,901 / $7,432,685	$102,285,392 / $1,142,869
Gain or (loss) (Securities / Other)	$3,243,210 / $1,656,148	$2,007,225 / $6,327,203	$2,675,899 / $1,104,602
Net income/loss from fundraising events	$0	$0	$0
Gross income from fundraising events	$96,350	$32,000	$85,050
Less: direct expenses	$96,350	$32,000	$85,050
Net income/loss from gaming activities	$0	$0	$0
Net income/loss from sales of inventory	$217,223	$135,987	$403,511
Gross sales of inventory, less returns and allowances	$957,800	$965,100	$1,049,449
Less: cost of goods sold	$740,577	$829,113	$645,938
Miscellaneous Revenue	$0	$0	$0

	2011	2012	2013
Statement of Functional Expenses
Total functional expenses	$22,917,045	$23,171,927	$22,444,658
Grants and other assistance to domestic organizations and domestic governments		$0	$0
Grants and other assistance to domestic individuals		$203,823	$206,000
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals		$0	$0
Benefits paid to or for members		$0	$0
Compensation of current officers, directors, trustees, and key employees	$1,156,202	$1,119,653	$1,122,879
Compensation not included above, to disqualified persons		$0	$0
Other salaries and wages	$6,980,178	$7,434,421	$7,754,195
Pension plan accruals and contributions		$449,859	$453,504
Other employee benefits		$1,427,397	$355,283
Payroll taxes	$533,250	$567,379	$995,031
Fees for services (non-employees)
Management		$0	$0
Legal		$104,395	$62,213
Accounting		$75,817	$81,301
Lobbying		$0	$0
Professional fundraising services	$0	$0	$0
Investment management fees		$352,406	$482,355
Other		$322,111	$357,887
Advertising and promotion		$462,428	$418,348
Office expenses		$386,058	$448,739
Information technology		$143,449	$149,366
Royalties		$0	$0
Occupancy		$0	$0
Travel		$244,582	$270,753
Payments of travel or entertainment expenses for any federal, state, or local public officials		$0	$0
Conferences, conventions, and meetings		$0	$0
Interest		$295,191	$302,715
Payments to affiliates		$0	$0
Depreciation, depletion, and amortization		$4,197,673	$4,095,840
Insurance		$210,656	$215,041
Other expenses		$1,772,747	$1,735,288
Other expenses		$1,752,483	$1,284,194
Other expenses		$1,195,385	$1,173,715
Other expenses		$189,562	$218,906
Other expenses		$264,452	$261,105

	2011	2012	2013
Balance Sheet
Total assets	$304,880,803	$297,935,326	$312,792,308
Cash - non-interest-bearing		$903,573	$1,006,504
Savings and temporary cash investments		$9,632,517	$10,973,527
Pledges and grants receivable, net		$6,943,218	$3,077,036
Accounts receivable, net		$2,651,347	$3,244,364
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees		$0	$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations		$0	$0
Notes and loans receivable, net		$0	$0
Inventories for sale or use		$216,815	$187,038
Prepaid expenses and deferred charges		$991,205	$1,108,166
Land, buildings, and equipment: cost or other basis		$120,114,487	$116,145,712
Investments - publicly traded securities		$44,230,909	$44,624,510
Investments - other securities		$111,799,439	$131,961,442
Investments - program-related		$0	$0
Intangible assets		$0	$0
Other assets		$451,816	$464,009
Total liabilities	$26,868,621	$22,909,036	$24,421,240
Accounts payable and accrued expenses		$5,838,976	$7,642,203
Grants payable		$0	$0
Deferred revenue		$171,485	$244,417
Tax-exempt bond liabilities	$20,000,000	$15,000,000	$15,000,000
Escrow or custodial account liability		$0	$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons		$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0	$0
Unsecured notes and loans payable to unrelated third parties	$0	$0	$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)		$1,898,575	$1,534,620
Total net assets or fund balances	$278,012,182	$275,026,290	$288,371,068
Unrestricted net assets		$125,370,030	$119,062,199
Temporarily restricted net assets		$51,769,667	$68,048,583
Permanently restricted net assets		$97,886,593	$101,260,286
Capital stock or trust principal, or current funds		$0	$0
Paid-in or capital surplus, or land, building, or equipment fund		$0	$0
Retained earnings, endowment, accumulated income, or other funds	$0	$0	$0

Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:	An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported	0
Sum of amounts of support	$0

	2009 - 2013 Total
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
Public Support	$57,029,698
Subtotal Support	$72,014,890
Gifts, grants, contributions, and membership fees received	$72,014,890
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf	$0
The value of services or facilities furnished by a governmental unit to the organization without charge	$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support	$14,985,192
Total Support	$85,535,674
Public Support	$72,014,890
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources	$13,520,784
Net income from unrelated business activities, whether or not the business is regularly carried on	$0
Other income. Do not include gain or loss from the sale of capital assets	$0
Gross receipts from related activities, etc.	$14,957,089

	2000	2001	2002	2003	2004	2005	2006	2007
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$16,153,742	$22,807,867	$38,698,821	$18,273,067	$23,374,972	$36,174,345	$34,544,443	$29,733,357
Contributions, gifts, grants, and similar amounts received	$8,118,929	$19,888,309	$37,068,595	$19,848,158	$16,098,649	$25,205,928	$17,076,659	$12,320,207
Contributions to donor advised funds							$0	$0
Direct public support	$8,077,132	$15,513,979	$36,448,440	$19,815,658	$15,763,768	$23,179,228	$17,036,659	$12,136,707
Indirect public support	$0	$0	$0	$0	$0	$0	$0	$0
Government contributions (grants)	$41,797	$4,374,330	$620,155	$32,500	$334,881	$2,026,700	$40,000	$183,500
Program service revenue including government fees and contracts	$647,158	$626,569	$618,416	$234,229	$328,480	$258,285	$1,792,411	$1,334,948
Membership dues and assessments	$80,190	$160,290	$176,307	$90,030	$85,705	$97,060	$72,845	$67,945
Interest on savings and temporary cash investments	$413,618	$248,983	$114,377	$50,636	$296,123	$861,566	$1,023,297	$748,060
Dividends and interest from securities	$2,494,938	$1,801,482	$1,211,478	$1,260,692	$1,922,556	$1,969,157	$1,407,289	$1,452,461
Net rental income or (loss)	$558,950	$346,686	$334,700	$0	$0	$0	$0	$0
Gross rents	$558,950	$346,686	$334,700	$0	$0	$0	$0	$0
Less: rental expenses	$0	$0	$0	$0	$0	$0	$0	$0
Other investment income	$1,652,616	$262,770	$1,112,493	$1,145,177	$1,657,883	$3,818,049	$0	$0
Gain or (loss) from sales of assets other than inventory	$2,263,596	$-257,427	$-1,432,065	$-3,883,234	$3,507,212	$4,697,216	$10,728,082	$6,769,007
Gross amount from sales of assets other than inventory	$120,808,908	$113,561,578	$166,692,821	$156,831,698	$143,281,323	$173,157,183	$108,290,509	$141,818,571
Less: cost or other basis and sales expenses	$118,545,312	$113,819,005	$168,124,886	$160,714,932	$139,774,111	$168,459,967	$97,562,427	$135,049,564
Net income or (loss) from special events and activities	$0	$0	$0	$0	$0	$0	$0	$0
Gross revenue	$74,050	$38,275	$52,840	$39,000	$43,950	$0	$43,000	$36,170
Less: direct expenses other than fundraising expenses	$74,050	$38,275	$52,840	$39,000	$43,950	$0	$43,000	$36,170
Gross profit or (loss) from sales of inventory	$-362,037	$-439,619	$-606,485	$-547,777	$-546,378	$-734,421	$-1,159,308	$248,490
Gross sales of inventory, less returns and allowances	$1,119,252	$1,003,520	$852,113	$170,823	$63,178	$40,710	$1,356,322	$1,176,840
Less: cost of goods sold	$1,481,289	$1,443,139	$1,458,598	$718,600	$609,556	$775,131	$2,515,630	$928,350
Other revenue	$285,784	$169,824	$101,005	$75,156	$24,742	$1,505	$3,603,168	$6,792,239
Total expenses	$13,107,730	$13,826,478	$13,629,274	$12,934,134	$12,189,127	$14,591,628	$26,169,131	$24,063,712
Program services	$9,218,311	$10,220,311	$9,848,858	$8,278,951	$7,764,617	$9,327,160	$19,252,242	$17,507,945
Management and general	$2,839,981	$2,508,567	$2,700,627	$3,754,214	$3,269,194	$3,796,043	$4,067,284	$4,468,641
Fundraising	$1,049,438	$1,097,600	$1,079,789	$900,969	$1,155,316	$1,468,425	$2,849,605	$2,087,126
Payments to affiliates	$0	$0	$0	$0	$0	$0	$0	$0
Net assets or fund balances at end of year	$173,657,313	$182,659,779	$196,128,067	$225,287,025	$240,395,125	$271,125,056	$280,601,200	$277,891,109
Excess or (deficit) for the year	$3,046,012	$8,981,389	$25,069,547	$5,338,933	$11,185,845	$21,582,717	$8,375,312	$5,669,645
Net assets or fund balances at beginning of year	$179,886,962	$173,657,313	$182,659,779	$196,128,067	$225,287,025	$240,395,125	$271,125,056	$280,601,200
Other changes in net assets or fund balances	$-9,275,661	$21,077	$-11,601,259	$23,820,025	$3,922,255	$9,147,214	$1,100,832	$-8,379,736

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2007)
Total functional expenses	$24,063,712	$17,507,945	$4,468,641	$2,087,126
Grants paid from donor advised funds		$0
Other grants and allocations		$0
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$1,522,742	$871,216	$379,301	$272,225
Compensation of former officers, directors, key employees, etc.	$14,140	$0	$14,140	$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)	$0	$0	$0	$0
Salaries and wages of employees not included above	$6,960,258	$4,890,405	$1,276,233	$793,620
Pension plan contributions not included above	$334,264	$238,621	$78,598	$17,045
Employee benefits not included above	$1,232,333	$664,011	$427,031	$141,291
Payroll taxes	$524,417	$362,057	$102,794	$59,566
Professional fundraising fees	$46,100	$0	$0	$46,100
Accounting fees	$73,249	$0	$73,249	$0
Legal fees	$196,609	$16,402	$178,688	$1,519
Supplies	$75,779	$45,722	$24,876	$5,181
Telephone	$58,723	$35,622	$17,418	$5,683
Postage and shipping	$111,021	$55,390	$39,166	$16,465
Occupancy	$0	$0	$0	$0
Equipment rental and maintenance	$2,021,111	$1,641,097	$233,626	$146,388
Printing and publications	$424,770	$359,402	$12,696	$52,672
Travel	$276,488	$69,973	$142,445	$64,070
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$1,435,639	$1,139,817	$190,260	$105,562
Depreciation, depletion, etc.	$3,956,060	$3,140,888	$524,284	$290,888
Other expenses not covered above	$4,800,009	$3,977,322	$753,836	$68,851

	2000	2001	2002	2003	2004	2005	2006	2007
Balance Sheets
Total assets	$178,036,679	$202,086,431	$211,468,805	$286,891,892	$304,219,420	$332,612,219	$327,040,037	$313,332,549
Cash - non-interest-bearing	$76,509	$214,323	$287,918	$470,482	$278,730	$1,440,077	$682,395	$1,892,266
Savings and temporary cash investments	$9,089,948	$11,497,414	$9,464,390	$57,226,724	$39,740,429	$20,200,630	$16,751,627	$13,672,071
Accounts receivable less allowance for doubtful accounts	$361,170	$215,920	$158,950	$230,511	$249,578	$181,810	$155,598	$208,158
Pledges receivable less allowance for doubtful accounts	$788,522	$566,399	$0	$0	$0	$0	$0	$0
Grants receivable	$8,959,688	$14,564,726	$38,338,553	$34,648,988	$26,981,128	$25,297,859	$19,735,964	$12,161,002
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)							$0	$0
Other notes and loans receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0	$0	$0	$0
Inventories for sale or use	$440,770	$408,114	$366,099	$301,605	$272,251	$271,764	$340,539	$372,178
Prepaid expenses and deferred charges	$87,731	$147,119	$215,294	$359,502	$211,650	$370,692	$225,638	$355,779
Investments - publicly-traded securities							$50,474,472	$46,644,903
Investments - other securities	$56,894,468	$48,211,436	$41,891,928	$56,457,943	$60,928,698	$54,630,249	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0	$0	$0	$0	$0
Investments - other	$60,924,874	$70,935,998	$67,993,854	$76,664,584	$79,122,298	$92,418,743	$105,129,781	$102,293,615
Land, buildings, and equipment less accumulated depreciation	$39,966,296	$46,189,585	$50,206,714	$58,173,647	$94,000,504	$128,692,842	$131,822,477	$131,997,302
Other assets, including program-related investments	$446,703	$9,135,397	$2,545,105	$2,357,906	$2,434,154	$9,107,553	$1,721,546	$3,735,275
Total liabilities	$4,379,366	$19,426,652	$15,340,738	$61,604,867	$63,824,295	$61,487,163	$46,438,837	$35,441,440
Accounts payable and accrued expenses	$4,125,679	$13,838,782	$13,187,961	$8,430,799	$10,764,389	$10,725,382	$6,438,837	$5,441,440
Grants payable	$0	$0	$0	$0	$0	$0	$0	$0
Deferred revenue	$0	$0	$0	$0	$0	$0	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0	$0	$0
Tax-exempt bond liabilities	$0	$0	$0	$50,000,000	$50,000,000	$50,000,000	$40,000,000	$30,000,000
Mortgages and other notes payable	$0	$0	$0	$0	$0	$0	$0	$0
Other liabilities	$253,687	$5,587,870	$2,152,777	$3,174,068	$3,059,906	$761,781	$0	$0
Total liabilities and net assets/fund balances	$178,036,679	$202,086,431	$211,468,805	$286,891,892	$304,219,420	$332,612,219	$327,040,037	$313,332,549
Total net assets or fund balances	$173,657,313	$182,659,779	$196,128,067	$225,287,025	$240,395,125	$271,125,058	$280,601,200	$277,891,109

	2000	2001	2002	2003	2004	2005	2006	2007
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$16,153,742	$22,807,867	$38,698,821	$18,273,067	$23,374,972	$36,174,345	$34,544,443	$29,733,357
Total revenue, gains, and other support per audited financial statements	$8,165,812	$24,211,314	$28,346,591	$49,875,733	$27,158,959	$45,509,275	$37,697,869	$20,321,355
Other expenses	$1,555,339	$1,624,288	$-8,535,927	$24,652,343	$4,575,761	$9,922,345	$3,659,462	$-8,879,887
Net unrealized gains on investments	$0	$21,077	$-10,047,365	$23,820,025	$3,922,255	$9,147,214	$1,100,832	$-9,844,407
Donated services and use of facilities	$0	$0	$0	$0	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$0	$0	$0	$0	$0
Other	$1,555,339	$1,603,211	$1,511,438	$832,318	$653,506	$775,131	$2,558,630	$964,520
Other revenue	$9,543,269	$220,841	$1,816,303	$-6,950,323	$791,774	$587,415	$506,036	$532,115
Investment expenses	$267,608	$220,841	$262,409	$446,852	$791,774	$587,415	$506,036	$532,115
Other	$9,275,661	$0	$1,553,894	$-7,397,175	$0	$0	$0	$0

	2000	2001	2002	2003	2004	2005	2006	2007
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$13,107,730	$13,826,478	$13,629,274	$12,934,134	$12,189,127	$14,591,628	$26,169,131	$24,063,712
Total expenses and losses per audited financial statements	$14,395,461	$15,208,848	$14,878,303	$20,716,775	$12,050,859	$14,779,344	$28,221,725	$23,031,446
Other revenue	$1,555,339	$1,603,211	$1,511,438	$8,154,775	$653,506	$775,131	$2,558,630	$964,520
Donated services and use of facilities	$0	$0	$0	$0	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0	$0	$0	$0	$0
Losses	$0	$0	$0	$0	$0	$0	$0	$0
Other	$1,555,339	$1,603,211	$1,511,438	$8,154,775	$653,506	$775,131	$2,558,630	$964,520
Other expenses	$267,608	$220,841	$262,409	$372,134	$791,774	$587,415	$506,036	$1,996,786
Investment expenses	$0	$220,841	$262,409	$446,852	$791,774	$587,415	$506,036	$532,115
Other	$267,608	$0	$0	$-74,718	$0	$0	$0	$1,464,671

Average hours per week devoted to position	Compensation	Contributions to employee benefit plans & deferred compensation plans	Expense account and other allowances
Current Officers, Directors, Trustees, and Key Employees
35	$674,196	$35,990	$0
35	$62,502	$5,099	$0
35	$246,000	$47,664	$0
35	$233,300	$47,733	$0
35	$147,000	$23,258	$0

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	33
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?	Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?	No
Does the organization have a written conflict of interest policy?	Yes

Loans and Advances	Compensation	Contributions to employee benefit plans & deferred compensation plans	Expense account and other allowances
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
$0	$13,650	$0	$0
$0	$0	$490	$0

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?	No
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?	No
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?	No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?	No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?	No
Number of employees employed in the pay period that includes March 12, 2006	183

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2007)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$86,513		$15,746,752	$1,579,885
Program service revenue
Program service revenue 1	000000	$0	00	$0	$1,037,689
Program service revenue 2	000000	$0	00	$0	$177,065
Program service revenue 3	000000	$0	00	$0	$92,943
Program service revenue 4	000000	$0	00	$0	$27,251
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$67,945
Interest on savings and temporary cash investments	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$748,060	$0
Dividends and interest from securities	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$1,452,461	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$0
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))	$6,769,007	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	Gift, novelty, and souvenir stores	$71,498	00	$0	$176,992
Other revenue	Unrelated debt-financed activities other than rental of real estate	$15,015	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$6,777,224	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
$142,800	$29,617	$0
$162,885	$7,088	$0
$120,846	$18,576	$0
$111,300	$26,036	$0
$115,731	$18,451	$0

Total number of other employees paid over $50,000	40

Total number of other employees paid over $50,000

Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities	$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?	No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?	No
Did the organization maintain any donor advised funds?	No
Did the organization make any taxable distributions under section 4966?	No
Did the organization make a distribution to a donor, donor advisor, or related person?	No
The total number of donor advised funds owned at the end of the tax year	$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year	$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts	$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year	$0

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is	Organization that receives a substantial part of its support from a governmental unit or from the general public

	1999	2000	2001	2002	2003	2004	2005	2006
Support Schedule
Total	$25,782,078	$15,920,071	$19,307,811	$18,493,710	$26,492,861	$28,221,618	$33,993,557	$31,959,862
Gifts, grants, and contributions received	$12,004,624	$8,675,621	$14,543,669	$13,914,007	$23,534,121	$23,853,061	$26,884,650	$22,686,101
Membership fees received	$61,540	$80,190	$160,290	$176,307	$90,030	$85,705	$97,060	$72,845
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$1,918,025	$2,051,288	$1,798,681	$1,568,258	$479,063	$423,144	$294,395	$4,322,440
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$11,797,889	$5,112,972	$2,805,171	$2,835,138	$2,389,647	$3,859,708	$6,717,452	$4,878,476
Net income from unrelated business activities not included above	$0	$0	$0	$0	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0	$0	$0	$0	$0
Other income	$0	$0	$0	$0	$0	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

	Income	Expenses	Net
Unrelated Trade or Business Income (for 2009)
Total	$-418,191	$0	$-41,819
Gross receipts or sales less returns and allowances	$397,232	$0	$0
Cost of goods sold	$288,480	$0	$0
Gross profit	$108,752	$0	$108,752
Capital gain net income	$0	$0	$0
Net gain	$0	$0	$0
Capital loss deduction for trusts	$0	$0	$0
Income (loss) from partnerships and S corporations	$-1,505,711	$0	$-150,571
Rent income	$0	$0	$0
Unrelated debt-financed income	$0	$0	$0
Interest, annuities, royalties, and rents from controlled organizations	$0	$0	$0
Investment income of a section 501(c)(7), (9), or (17) organization	$0	$0	$0
Exploited exempt activity income	$0	$0	$0
Advertising income	$0	$0	$0
Other income	$0	$0	$0

Deductions Not Taken Elsewhere (for 2009)
Total deductions	$564,199
Compensation of officers, directors, and trustees	$26,117
Salaries and wages	$211,623
Repairs and maintenance	$0
Bad debts	$0
Interest	$19,900
Taxes and licenses	$16,620
Charitable contributions	$0
Depreciation	$131,754
Depletion	$0
Contributions to deferred compensation plans	$14,069
Employee benefit programs	$32,295
Excess exempt expenses	$0
Excess readership costs	$0
Other deductions	$111,821
Unrelated business taxable income	$-606,018
Unrelated business taxable income before net operating loss deduction	$-606,018
Net operating loss deduction	$0
Unrelated business taxable income before specific deduction	$-606,018
Specific deduction	$1,000

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	The New York Public Library Astor Lenox And Tilden Foundations	445 Fifth Ave 8th Fl, New York, NY 10016-0133	NY	1934-11	$569,722,769
2	Pierpont Morgan Library, The Morgan Library & Museum	225 Madison Ave, New York, NY 10016-3405	NY	1925-04	$185,122,741
3	Queens Borough Public Library	8911 Merrick Blvd, Jamaica, NY 11432-5242	NY	1959-10	$109,485,819
4	Suffolk Cooperative Library System, Scls	System 627 N Sunrise Service Road, Bellport, NY 11713	NY	1973-11	$12,064,174
5	Buffalo & Erie County Public Library, Group Return	1 Lafayette Sq, Buffalo, NY 14203-1823	NY	1996-12	$11,074,499
6	Emma S Clark Memorial Library Association	120 Main St, Setauket, NY 11733-2818	NY	1949-07	$5,167,258
7	Rogers Memorial Library Co	91 Coopers Farm Rd, Southampton, NY 11968-4002	NY	1957-10	$4,314,973
8	New York Law Institute	120 Broadway, New York, NY 10271-0002	NY	1943-01	$3,213,545
9	Westhampton Free Library	7 Library Ave, W Hampton Bch, NY 11978-2603	NY	1975-03	$2,868,697
10	New York Metropolitan Reference & Research Library Agency	57 East 11th Street, New York, NY 10003-4605	NY	1966-12	$2,295,323
11	Southeast Steuben County Library	300 Civic Center Plz, Corning, NY 14830-2846	NY	2000-09	$2,632,011
12	Martinsburg Public Library Comm A Corp Created By Ord Of Council	101 W King St, Martinsburg, WV 25401-3209	WV	2009-05	$2,402,073
13	Village Improvement Assoc Of West Haven	300 Elm St, W Haven, CT 06516-4603	CT	1943-01	$1,768,121
14	Trustees Of The Free Public Library Of The Township Of Montville	90 Horseneck Rd, Montville, NJ 07045-9626	NJ	1997-09	$1,660,386
15	Sewickley Public Library Inc	500 Thorn St, Sewickley, PA 15143-1533	PA	1998-01	$1,027,841
16	The Fletcher Memorial Library Incorporated	Po Box 6, Hampton, CT 06247	CT	2002-09	$270,060
17	Hbcu Library Alliance Inc	1438 W Peachtree St Nw Ste 200, Atlanta, GA 30309-2955	GA	2007-06	$162,177
18	Schoharie Free Library Association	PO BOX 519, Schoharie, NY 12157-0519	NY	2000-04	$114,223
19	Western Town Library	PO BOX 247, Westernville, NY 13486-0247	NY	1975-05	$31,078
20	American Library For Photographic History Of Aviation Alpha	PO BOX 416, Catskill, NY 12414-0416	NY	2000-01	$0

Number of organizations performing similar types of work

Alabama	1
Arizona	3
California	5
Colorado	1
Connecticut	11
Florida	6
Georgia	1
Idaho	1
Illinois	2
Indiana	3
Kentucky	1
Massachusetts	13
Maryland	4
Maine	8
Michigan	2
Missouri	2
Mississippi	1

North Carolina	3
New Hampshire	2
New Jersey	1
New Mexico	3
New York	30
Ohio	4
Oklahoma	1
Pennsylvania	24
Rhode Island	3
South Carolina	1
Tennessee	1
Texas	11
Virginia	3
Vermont	1
Washington	1
West Virginia	2

Total

156

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