Morristown Centennial Library Association
- Assets
- $1.5m
- Revenue
- $373.9k
- Investments
- $0.0
- Employees
- 9
- Location
- Morrisville, VT
- Founding
- 01/1976
- Data as of
- 06/2022
- EIN
- 03-0179589
Organization Overview
Morristown Centennial Library Association is located in Morrisville, VT. The organization was established in 1976. As of 06/2022, Morristown Centennial Library Association employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morristown Centennial Library Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Morristown Centennial Library Association generated $373.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $339.1k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MORRISTOWN CENTENNIAL LIBRARY ASSOCIATION PROVIDES A FREE PUBLIC LIBRARY FOR ALL RESIDENTS OF MORRISTOWN, VERMONT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE PUBLIC LIBRARY FOR THE RESIDENTS OF MORRISVILLE, VT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Beyer Trustee | Trustee | 1 | $0 |
John Buttolph Trustee | Trustee | 1 | $0 |
Lucas Peterson Trustee | Trustee | 1 | $0 |
Deborah Wheeler Trustee | Trustee | 1 | $0 |
Marena Young Trustee | Trustee | 1 | $0 |
Julie Pickett President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $229,121 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,443 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,564 |
| Total Program Service Revenue | $2,438 |
| Investment income | $51,622 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $67,390 |
| Net Income from Fundraising Events | $7,880 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $373,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $196,673 |
| Pension plan accruals and contributions | $3,291 |
| Other employee benefits | $3,445 |
| Payroll taxes | $15,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,029 |
| Fees for services: Accounting | $7,371 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,248 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,100 |
| Information technology | $11,836 |
| Royalties | $0 |
| Occupancy | $24,983 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,414 |
| Insurance | $2,932 |
| All other expenses | $9,752 |
| Total functional expenses | $339,082 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137 |
| Savings and temporary cash investments | $51,552 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $23,521 |
| Investments—publicly traded securities | $1,470,984 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,546,194 |
| Accounts payable and accrued expenses | $9,278 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,278 |
| Net assets without donor restrictions | $1,271,401 |
| Net assets with donor restrictions | $265,515 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,546,194 |