Ulysses Philomathic Library in Trumansburg, New York (NY)

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Ulysses Philomathic Library
Employer Identification Number (EIN)223260334
Name of OrganizationUlysses Philomathic Library
Address74 E Main St, Trumansburg, NY 14886-9582
ActivitiesLibrary
SubsectionCharitable Organization
Ruling Date09/1985
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,821,504
Amount of Income$435,731
Form 990 Revenue Amount$282,850
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Libraries


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Amount of income in 2012: $435,731
Ulysses Philomathic Library: 

 $435,731
Other organizations performing similar types of work: 

 $844,679

Assets in 2012: $1,821,504
Ulysses Philomathic Library: 

 $1,821,504
Other organizations performing similar types of work: 

 $1,854,228

Expenses in 2002: $175,818
This organization: 

 $175,818
Other organizations performing similar types of work: 

 $1,021,550

Income to expenses ratio in 2002: 1.2
Ulysses Philomathic Library: 

 1.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2002: 94.2%
Ulysses Philomathic Library: 

 94.2%
Other organizations performing similar types of work: 

 84.2%

Number of employees in 2002: 3
This organization: 

 3
Other organizations performing similar types of work: 

 17

Employees paid over $50,000 in 2002: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 8.8%

Grants share in income in 2002: 89.1%
This organization: 

 89.1%
Other organizations performing similar types of work: 

 79.0%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$498,134$367,101$210,256
Contributions, gifts, grants, and similar amounts received$437,202$322,578$187,427
Contributions to donor advised funds
Direct public support$166,260$156,954$79,900
Indirect public support$1,024$1,012$1,383
Government contributions (grants)$269,918$164,612$106,144
Program service revenue including government fees and contracts$2,591$3,128$5,065
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$30,048$12,770$900
Dividends and interest from securities$14,824$7,780$12,817
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$-1,202$11$-12,961
Gross amount from sales of assets other than inventory$32,358$10,306$32,187
Less: cost or other basis and sales expenses$33,560$10,295$45,148
Net income or (loss) from special events and activities$13,663$19,997$14,665
Gross revenue$13,663$19,997$15,174
Less: direct expenses other than fundraising expenses$0$0$509
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$1,008$837$2,343
Total expenses$81,865$130,550$175,818
Program services$72,005$121,176$165,669
Management and general$9,860$9,374$10,149
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$1,206,223$1,433,789$1,446,916
Excess or (deficit) for the year$416,269$236,551$34,438
Net assets or fund balances at beginning of year$811,651$1,206,223$1,433,789
Other changes in net assets or fund balances$-21,697$-8,985$-21,311
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$175,818$165,669$10,149$0
Grants paid from donor advised funds
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.$27,669$24,902$2,767$0
Compensation of former officers, directors, key employees, etc.
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)
Salaries and wages of employees not included above$30,909$27,818$3,091$0
Pension plan contributions not included above$1,384$1,246$138$0
Employee benefits not included above$1,153$1,038$115$0
Payroll taxes$4,003$3,602$401$0
Professional fundraising fees$0$0$0$0
Accounting fees$980$0$980$0
Legal fees$0$0$0$0
Supplies$3,489$3,140$349$0
Telephone$1,958$1,762$196$0
Postage and shipping$3,784$3,406$378$0
Occupancy$1,013$0$1,013$0
Equipment rental and maintenance$6,435$6,048$387$0
Printing and publications$25,178$25,159$19$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$9,292$9,292$0$0
Depreciation, depletion, etc.$43,854$43,854$0$0
Other expenses not covered above$14,717$14,402$315$0
Balance Sheets
200020012002
Total assets$1,206,223$1,633,789$1,643,566
Cash - non-interest-bearing$6,055$1,074$925
Savings and temporary cash investments$602,007$138,144$98,572
Accounts receivable less allowance for doubtful accounts$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$100,411$100,343$181,900
Land, buildings, and equipment less accumulated depreciation$497,750$1,394,228$1,362,169
Other assets, including program-related investments$0$0$0
Total liabilities$0$200,000$196,650
Accounts payable and accrued expenses$0$0$0
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$200,000$196,650
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$1,206,223$1,633,789$1,643,566
Total net assets or fund balances$1,206,223$1,433,789$1,446,916
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$0$0$0
Total expenses and losses per audited financial statements$0$0$0
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
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?
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?
Does the organization have a written conflict of interest policy?
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?No
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)?
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?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20063
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$15,421$7,408
Program service revenue
Program service revenue 1000000$000$0$5,065
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, 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)$900$0
Dividends and interest from securities000000$0Dividends, 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)$12,817$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-12,961$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$14,665$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$2,343
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
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?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter 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
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
199920002001
Total$517,394$499,336$367,090
Gifts, grants, and contributions received$480,353$437,202$322,578
Membership fees received$0$0$0
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$19,983$16,254$23,125
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$16,043$44,872$20,550
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$1,015$1,008$837
Lobbying Expenditures by Electing Public Charities (for 2002)
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
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$268,525
Contributions, Gifts, Grants and Other Similar Amounts$205,480
Program Service Revenue$9,577
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$14,713
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$16,512
Gross amount from sales of assets other than inventory (Securities / Other)$161,537 / $0
Less: cost or other basis and sales expenses (Securities / Other)$145,025 / $0
Gain or (loss) (Securities / Other)$16,512 / $0
Net income from fundraising events$21,067
Gross income from fundraising events$21,960
Less: direct expenses$893
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$1,176
Statement of Functional Expenses (for 2011)
Total functional expenses$264,782
Compensation of current officers, directors, trustees, and key employees$42,905
Other salaries and wages$55,933
Payroll taxes$7,206
Professional fundraising services$0
Other$158,738
Balance Sheet (for 2011)
Total assets$1,754,996
Total liabilities$162,140
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$160,448
Unsecured notes and loans payable to unrelated third parties$0
Other$1,692
Total net assets or fund balances$1,592,856
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
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)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$1,044,151
Gifts, grants, contributions, and membership fees received$956,495
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
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$87,656
Gross receipts from related activities, etc.$131,359
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Number of organizations performing similar types of work
Alabama1
Arizona3
California5
Colorado1
Connecticut11
Florida6
Georgia1
Idaho1
Illinois2
Indiana3
Kentucky1
Massachusetts13
Maryland4
Maine8
Michigan2
Missouri2
Mississippi1
North Carolina3
New Hampshire2
New Jersey1
New Mexico3
New York30
Ohio4
Oklahoma1
Pennsylvania24
Rhode Island3
South Carolina1
Tennessee1
Texas11
Virginia3
Vermont1
Washington1
West Virginia1
Total155

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