Bennington Free Library
- Assets
- $1.1m
- Revenue
- $675.4k
- Investments
- $0.0
- Employees
- 21
- Location
- Bennington, VT
- Founding
- 02/1966
- Data as of
- 06/2022
- EIN
- 03-0181067
Organization Overview
Bennington Free Library is located in Bennington, VT. The organization was established in 1966. As of 06/2022, Bennington Free Library employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bennington 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 06/2022, Bennington Free Library generated $675.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $617.1k during the year ending 06/2022. While expenses have increased by 2.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
THE BENNINGTON FREE LIBRARY PROVIDES MATERIALS AND SERVICES THAT WILL MEET THE EDUCATIONAL, INFORMATIONAL, CULTURAL AND RECREATIONAL NEEDS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED PUBLIC LIBRARY SERVICES TO RESIDENTS OF ALL AGES IN BENNINGTON, SHAFTSBURY, WOODFORD, POWNAL, AND ARLINGTON, VERMONT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynne Fonteneau-Mccann Library Direct. | Officer | 40 | $71,073 |
Michael Munson Chairman | OfficerTrustee | 3 | $0 |
Norma Mcshane Director | Trustee | 3 | $0 |
Jon Goodrich Trustee | Trustee | 3 | $0 |
David Newell Trustee | Trustee | 3 | $0 |
Kelley Legacy Trustee | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $548,414 |
| All other contributions, gifts, grants, and similar amounts not included above | $99,501 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $647,915 |
| Total Program Service Revenue | $1,090 |
| Investment income | $25,551 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,875 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $675,436 |
| 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. | $88,405 |
| Compensation of current officers, directors, key employees. | $88,405 |
| Compensation to disqualified persons | $274,192 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,002 |
| Payroll taxes | $27,493 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,379 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,369 |
| Office expenses | $0 |
| Information technology | $31,847 |
| Royalties | $0 |
| Occupancy | $63,971 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,709 |
| Interest | $123 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,904 |
| All other expenses | $14,722 |
| Total functional expenses | $617,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400 |
| Savings and temporary cash investments | $344,959 |
| 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 | $13,987 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $626,290 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $150,734 |
| Total assets | $1,136,370 |
| Accounts payable and accrued expenses | $4,375 |
| 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 | $1,528 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,903 |
| Net assets without donor restrictions | $733,724 |
| Net assets with donor restrictions | $396,743 |
| 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 | $1,136,370 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Bennington Free Library has recieved totaling $27,974.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $17,570 |
Marro Family Private Foundation Bennington, VT PURPOSE: SUPPORT OF LIBRARY OPERATIONS | $10,000 |
Shell Oil Company Foundation Houston, TX PURPOSE: MG | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $154 |
Endowment Analysis
| Beg. Balance | $367,373 |
| Earnings | -$40,386 |
| Admin Expense | $7,317 |
| Other Expense | $16,596 |
| Ending Balance | $303,074 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Great Neck Library Great Neck, NY | $34,961,861 | $11,637,861 |
Oceanside Library Oceanside, NY | $46,476,817 | $6,978,242 |
Connetquot Public Library Bohemia, NY | $10,940,573 | $6,656,257 |
Crandall Library Glens Falls, NY | $18,989,283 | $4,650,669 |
Bryant Library Roslyn, NY | $10,311,911 | $5,190,176 |
Port Jefferson Free Library Port Jefferson, NY | $14,577,531 | $4,685,963 |
Riverhead Free Library Riverhead, NY | $9,623,554 | $4,087,006 |
South Country Library Bellport, NY | $8,624,076 | $4,821,217 |
Nyack Library Nyack, NY | $12,067,573 | $3,118,005 |
Southern Tier Library System Painted Post, NY | $3,072,601 | $2,939,739 |
Cold Spring Harbor Library Cold Spring Harbor, NY | $10,366,192 | $3,012,849 |
Trustees Of The Forbes Library Northampton, MA | $10,232,224 | $2,847,127 |