Rutland Free Library Association Inc T-A Rutland Free Library
- Assets
- $6.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 21
- Location
- Rutland, VT
- Founding
- 10/1963
- Data as of
- 06/2023
- EIN
- 03-0181060
Organization Overview
Rutland Free Library Association Inc T-A Rutland Free Library, operating under the name Rutland Free Library, is located in Rutland, VT. The organization was established in 1963. As of 06/2023, Rutland Free Library employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rutland Free Library 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 06/2023, Rutland Free Library generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDES PUBLIC LIBRARY SERVICES IN RUTLAND,VERMONT. ITS MISSION IS "TO BRING PEOPLE, INFORMATION, AND IDEAS TOGETHER TO ENRICH LIVES AND TO BUILD A VIBRANT, STRONG COMMUNITY."
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PUBLIC LIBRARY SERVICES TO PATRONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Cohen President/tr | OfficerTrustee | 2 | $0 |
Sharon Courcelle Vice Preside | OfficerTrustee | 2 | $0 |
Clare Coppock Secretary | OfficerTrustee | 2 | $0 |
Jennifer Bagley Trustee | Trustee | 1 | $0 |
Joe Bertelloni Trustee | Trustee | 1 | $0 |
Candice Britt Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,766 |
| All other contributions, gifts, grants, and similar amounts not included above | $971,850 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $982,616 |
| Total Program Service Revenue | $15,041 |
| Investment income | $61,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,131 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,058,350 |
| 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. | $103,400 |
| Compensation of current officers, directors, key employees. | $93,060 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $574,233 |
| Pension plan accruals and contributions | $34,933 |
| Other employee benefits | $88,796 |
| Payroll taxes | $46,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,489 |
| Fees for services: Accounting | $12,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,301 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,397 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $93,897 |
| 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 | $0 |
| Insurance | $5,201 |
| All other expenses | $9,727 |
| Total functional expenses | $1,252,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,693 |
| Savings and temporary cash investments | $60,849 |
| 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 | $30,577 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,572,242 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,656,388 |
| Total assets | $6,545,749 |
| Accounts payable and accrued expenses | $86,533 |
| 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 | $86,533 |
| Net assets without donor restrictions | $1,609,038 |
| Net assets with donor restrictions | $4,850,178 |
| 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 | $6,545,749 |