Nonprofit · EIN 87-0752578
LIBRARIES OF MONTROSE COUNTY FOUNDATION
Tax-exempt · MONTROSE, CO 81401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $253,316 | $27,883 | $225,433 | $946,512 | $0 | $946,512 |
| December 31, 2023 | 990 | $58,070 | $44,874 | $13,196 | $686,462 | $0 | $686,462 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $225,406
- Program service revenue
- $0
- Investment income
- $25,795
- Net income from fundraising events
- $2,115
- Other revenue
- $2,115
Expenses
- Grants and similar amounts paid
- $13,750
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $1,400
- Program services (functional)
- $14,557
- Management and general (functional)
- $13,326
Balance sheet and other
- Total assets, start of year
- $686,462
- Total assets, end of year
- $946,512
- Total liabilities, end of year
- $0
- Net assets, end of year
- $946,512
- Gross receipts
- $255,032
- Employees
- 0
- Volunteers
- 6
- Year formed
- 2005
- State of legal domicile
- CO
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Doug Kiesewetter | President Trustee or director, Officer | 0.5 | $0 |
| Dave Roberts | Director Trustee or director | 0.5 | $0 |
| Mary Jane Masters | Director Trustee or director | 0.5 | $0 |
| Diane Winger | Director Trustee or director | 0.5 | $0 |
| Babs Schmerler | Director Trustee or director | 0.5 | $0 |
| Paul Paladino | Director Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Doug Kiesewetter | President Trustee or director, Officer | 0.5 | $0 |
| Dave Roberts | Director Trustee or director | 0.5 | $0 |
| Mary Jane Masters | Director Trustee or director | 0.5 | $0 |
| Diane Winger | Director Trustee or director | 0.5 | $0 |
| Babs Schmerler | Director Trustee or director | 0.5 | $0 |
| Paul Paladino | Director Trustee or director | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 320 S 2ND ST, MONTROSE, CO 81401-4274
- In care of
- % PAUL PALADINO
- Mailing address (990-N for 2013)
- 320 S 2nd Street, Montrose CO 81401
- Principal officer (990 for 2024)
- Paul Paladino, 320 S 2nd Street, Montrose, CO 81401
- Principal officer (990-N for 2013)
- Douglas Kiesewetter, 320 S 2nd Street, Montrose CO 81401
- Signed the 990
- Paul Paladino, Director
- Phone
- (970) 964-2550
- Return prepared by
- Campbell & Watson CPAs PC
Mission
The Libraries of Montrose County Foundation encourages community investments through gifts and initiatives to ensure the people of Montrose County the full measure of resources, services and access to befitting great libraries.
Program accomplishments
- The literature for life scholarship program is an endowment of college scholarships to encourage young adults to adopt lifelong reading as a pursuit.Expenses $13,750 · grants $13,750
- The permanent book funds program is an endowment that provides additions to the permanent collections of the libraries.Expenses $807
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-0752578
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B11)
- Assets (IRS master file)
- $946,512
- Income (IRS master file)
- $255,032
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $253,316 | $27,883 | $946,512 | IRS |
| 990 | December 2023 | $58,070 | $44,874 | $686,462 | XML |
| 990 | December 2022 | $58,441 | $52,091 | $628,333 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-N for 2013 Officer: Douglas Kiesewetter | December 31, 2013 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-0752578).
Questions about LIBRARIES OF MONTROSE COUNTY FOUNDATION
- What is the EIN of LIBRARIES OF MONTROSE COUNTY FOUNDATION?
- The employer identification number (EIN) of LIBRARIES OF MONTROSE COUNTY FOUNDATION is 87-0752578.
- Is LIBRARIES OF MONTROSE COUNTY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to LIBRARIES OF MONTROSE COUNTY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LIBRARIES OF MONTROSE COUNTY FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LIBRARIES OF MONTROSE COUNTY FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LIBRARIES OF MONTROSE COUNTY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LIBRARIES OF MONTROSE COUNTY FOUNDATION?
- The 990 for the year ended December 31, 2024 names Paul Paladino.
- Who are the officers and directors of LIBRARIES OF MONTROSE COUNTY FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
- How much revenue does LIBRARIES OF MONTROSE COUNTY FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $253,316, expenses of $27,883 and total assets of $946,512 at year end.
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