2020-11-14T12:13:52-06:00 2019-12-31 WithumSmithBrown PC ONE TOWER CENTER BLVD 14TH FL EAST BRUNSWICK NJ 08816 990 2019-01-01 223494366 PRINCETON PUBLIC LIBRARY FOUNDATION INC % LISA HAM PRIN 6099245929 65 WITHERSPOON STREET PRINCETON NJ 08542 DAVID HILL BOARD PRESIDENT 6099245929 2020-11-15 true Brad Caruso P01249134 7328281614 65.124.179.195 22006220203195000019 2020-11-14 P EA28E1096C0E8CD760E8891BEC9043224FA415BC D84BABFAE7D4F5337E224A93B2725F2FB3BD144D 2019 2021-01-29 14:40:06Z DAVID HILL 65 WITHERSPOON STREET PRINCETON NJ 08542 15913278 false X PRINCETONLIBRARY.ORG X 1995 NJ PRIMARY PURPOSE IS TO PROVIDE SUPPLEMENTARY SUPPORT AND CONDUCT ACTIVITIES FOR THE BENEFIT OF THE FREE PUBLIC LIBRARY OF PRINCETON. 20 19 0 19 0 1050 54000 0 0 769238 1005153 0 223 770288 1059376 505430 1187346 0 0 0 16810 0 0 6850 115358 116001 620788 1320157 149500 -260781 13495452 15073523 117883 608041 13377569 14465482 PRIMARY PURPOSE IS TO PROVIDE SUPPLEMENTARY SUPPORT AND CONDUCT ACTIVITIES FOR THE BENEFIT OF THE FREE PUBLIC LIBRARY OF PRINCETON. false false 1187346 1187346 0 PROVIDING SUPPLEMENTARY SUPPORT AND CONDUCTING ACTIVITES FOR THE BENEFIT OF THE FREE PUBLIC LIBRARY OF PRINCETON. 1187346 true true false false false false false false false true false true false false false true true false false false false false false false false false false true false false false false false false false false false false false false false false false true false true false false 2 0 true 0 false false false false false false false false false false false false X 20 19 true false false false false false false true true false false true true true true true true false false false NJ X LISA HAM 6099248822 65 WITHERSPOON STREET PRINCETON NJ 08542 BRETT BONFIELD LIBRARY DIRECTOR (TERM 4/2019) 8.0 32.0 X X 0 39470 2978 David R Hill President/Director 5.0 0.0 X X 0 0 0 David R Scott Vice President/Director 5.0 0.0 X X 0 0 0 Matthew Wasserman Treasurer/Director 5.0 0.0 X X 0 0 0 Swati Bhatt DIRECTOR 5.0 0.0 X 0 0 0 Sudeep Das Director 5.0 0.0 X 0 0 0 Michelle Vaccaro Everm Director 5.0 0.0 X 0 0 0 Kelly Freidenfelds Director 5.0 0.0 X 0 0 0 Lee Gladden Director 5.0 0.0 X 0 0 0 Melissa Grzymala Director 5.0 0.0 X 0 0 0 Beth Heaney Director 5.0 0.0 X 0 0 0 Carol Herring Director 5.0 0.0 X 0 0 0 Jeaninne Surette Honst Director 5.0 0.0 X 0 0 0 Florence B Kahn Director 5.0 0.0 X 0 0 0 Glen Mackey Director 5.0 0.0 X 0 0 0 Ruth Miller Director 5.0 0.0 X 0 0 0 Ann Parker McKeehan Director 5.0 0.0 X 0 0 0 Rosalind Muir Director 5.0 0.0 X 0 0 0 Elizabeth Protage Wals Director 5.0 0.0 X 0 0 0 Pam Wetherill DIRECTOR 5.0 0.0 X 0 0 0 0 39470 2978 0 false false false 0 54000 54000 0 331812 331812 0 0 0 0 0 15527243 14853902 673341 673341 673341 0 0 0 0 0 0 0 0 0 OTHER INCOME MISCELLANEOUS 531110 223 223 223 1059376 1005376 1187346 1187346 0 0 0 0 0 16810 16810 0 0 0 0 0 22900 22900 0 0 68775 68775 1200 1200 0 10882 10882 0 0 0 0 0 0 3851 3851 0 0 1543 1543 DONOR CULTIVATION 6850 6850 1320157 1187346 125961 6850 X 6289 200 571700 39959 123792 16386 0 0 0 0 0 0 0 0 0 0 0 1062 0 0 8403068 13319506 4390603 1696410 0 0 0 0 0 0 13495452 15073523 20883 17201 0 573840 0 0 0 0 0 0 0 0 0 0 97000 17000 0 0 117883 608041 X 8392088 9164302 4985481 5301180 13377569 14465482 13495452 15073523 X -260781 1349665 -971 X false true X true false X X X 1 THE FREE PUBLIC LIBRARY OF PRINCETON 216008497 6 true 1187346 0 1 1187346 true false false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13439957 2285730 1180213 14545474 14850195 0 -852558 557680 13439957 13357392 0 2079865 587062 14850195 13361143 31309 481101 516161 13357392 13497208 569641 -134007 571699 13361143 0.63500 0.17500 0.19000 false false FUNDS MEASURED AT NAV 1696410 F 1696410 0 0 X 2369099 1349665 20015 8818 1378498 990601 68775 68775 1059376 1281186 20015 9789 29804 1251382 68775 68775 1320157 FORM 990, SCHEDULE D, PART V, LINE 4 ALL AMOUNTS MAINTAINED IN THE ENDOWMENT, EXCEPT FOR THOSE AMOUNTS THAT ARE TO BE MAINTAINED IN PERPETUITY, ARE FOR THE BENEFIT OF THE FREE PUBLIC LIBRARY OF PRINCETON. FORM 990, SCHEDULE D, PART X, LINE 2 The Foundation is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, the financial statements do not reflect a provision for Federal income taxes. There were no uncertain tax positions at December 31,2019 and 2018. The Foundation did not have any income tax related penalties or interest for the years in question. Form 990, Schedule D, Part XI, Line 2d The financial statements present 8,818 in contribution revenue for the net present value adjustment on multi-year contributions which is reported as an other change in Part XI line 9 of form 990. Form 990, Schedule D, Part XII, Line 2d The financial statements present $9,789 in bad debt expense which is reported as an other change in Part XI line 9 of form 990. true THE FREE PUBLIC LIBRARY OF PRINCETON 65 WITHERSPOON STREET PRINCETON NJ 08542 216008497 N/A 1187346 LIBRARY SUPPORT 1 GRANTS AND ASSISTANCE THE FOUNDATION PROVIDES AN ALLOCATION TO THE FREE PUBLIC LIBRARY OF PRINCETON EACH YEAR FOR THE ENHANCEMENT OF LIBRARY SERVICES. THE FUNDS ARE PROVIDED AS SUPPLEMENTAL SUPPORT FOR THE LIBRARY AND DO NOT REPLACE MUNICIPAL SUPPORT. ADDITIONAL FUNDS RECEIVED BY THE FOUNDATION FOR A RESTRICTED PURPOSE RELATING TO THE LIBRARY ARE TRANSFERRED TO THE LIBRARY TO BE USED FOR THE PURPOSES INTENDED. Core Form 990 Disclosures FORM 990, PART V, LINE 1 NUMBER OF EMPLOYEES: THE FREE PUBLIC LIBRARY OF PRINCETON, NEW JERSEY PROVIDES THE FOUNDATION WITH MANAGEMENT AND FUNDRAISING SERVICES INCLUDING ACCOUNTING, SUPERVISORY AND SECRETARIAL SERVICES. AN IN-KIND CONTRIBUTION FOR THE DONATED SERVICES IS RECORDED. FORM 990, PART VI, SECTION A, LINE 2 BRETT BONFIELD AND RUTH MILLER HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B Copies of the completed Form 990, with supporting schedules and footnotes, will be distributed to the Audit Committee, the President of the Board of Directors, and the Library's Executive Director for their review and approval prior to submission to the Internal Revenue Service.Any corrections or changes will be noted and addressed. The President of the Board of Directors shall sign and certify that the IRS Form 990 is accurate and complete. The full board shall receive a copy of the IRS Form 990 within 30 days prior to its submission to the IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: ALL OFFICERS AND DIRECTORS ANNUALLY COMPLETE A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS, OR CIRCUMSTANCES IN WHICH THE OFFICER OR DIRECTOR IS INVOLVED THAT THEY BELIEVE COULD CONTRIBUTE TO A CONFLICT OF INTEREST ARISING. ANY CONFLICT DISCLOSED IS REVIEWED BY THE BOARD TO DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION: THERE IS CURRENTLY 1 EMPLOYEE WHICH THE FOUNDATION REIMBURSES THE LIBRARY FOR THEIR SALARY COST. THERE ARE CURRENTLY NO PAID EMPLOYEES AT THE FOUNDATION AS ALL EMPLOYEES ARE EMPLOYED BY THE LIBRARY. THEREFORE, THERE IS NO PROCESS FOR DETERMINING COMPENSATION FOR THE CEO, EXECUTIVE DIRECTOR, OTHER TOP MANAGEMENT OFFICIALS,OR OTHER KEY EMPLOYEES. A PORTION OF THE SALARIES AND RELATED BENEFITS REPORTED ON THE FINANCIAL STATEMENTS ARE DONATED SERVICES WHICH ARE NOT INCLUDED IN THE 990 AND ADJUSTED ON SCHEDULE D PART XI LINE 2B AND PART XII LINE 2A. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE: Only finalized and approved tax returns and audited financial statements may be released to the general public. On an annual basis, the Executive Director will make 3 years of Form 990(excluding Schedule B List of Contributors) and audited financial statements available to the general public.These documents will be posted on the Foundation's website and posted on Guidestar.org. Written requests for the financial information above will be honored within 30 days. FORM 990, PART IX, LINE 1 During 2019, the Foundation adopted ASU 2018-08 - Not for-profit Entities -Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. The Foundation adopted this on a modified prospective method. The adoption of this ASU resulted in a change in the timing of recording grants made. The current year 2019 includes the cash grants paid of $627,972 and grants accrued of $559,374 resulting in a total grants expense in 2019 of $1,187,346. FORM 990, PART XI, LINE 9 RECONCILIATION OF NET ASSETS OTHER CHANGES IN NET ASSETS IS COMPRISED OF A NET PRESENT VALUE ADJUSTMENT ON PLEDGES RECEIVABLE OF $8,818 offset by an increase in the allowance for uncollectible pledges and bad debt of $(9,789) resulting in a net change of $(971). THE FREE PUBLIC LIBRARY OF PRINCETON 65 WITHERSPOON STREET PRINCETON NJ 08542 216008497 LIBRARY NJ N/A NA false false true false false false false false false false false false false false true true false false false false THE FREE PUBLIC LIBRARY OF PRINCETON B 1187346 FMV