Latham Memorial Library Inc
- Assets
- $1.1m
- Revenue
- $236.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Thetford, VT
- Founding
- 01/1981
- Data as of
- 12/2021
- EIN
- 03-6008134
Organization Overview
Latham Memorial Library Inc is located in Thetford, VT. The organization was established in 1981. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2021, Latham Memorial Library Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latham Memorial Library Inc 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 12/2021, Latham Memorial Library Inc generated $236.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $138.7k during the year ending 12/2021. While expenses have increased by 4.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC LIBRARY WITH THOUSANDS OF PATRONS, BORROWING 6,500+ MATERIALS. WE CIRCULATED STATE-OWNED TITLES, LARGE TYPE BOOKS, VIDEOS AND AUDIOBOOKS, AND DOWNLOADED 100'S OF E-BOOKS & THOUSANDS OF AUDIO BOOKS. WE MADE 238 REQUESTS FOR INTER-LIBRARY LOANS, AND SENT OUT OUR MATERIALS ON MULTIPLE OCCASIONS. DUE TO COVID THE LIBRARY DID NOT HOST COMMUNITY MEETINGS, TALKS, ART OPENINGS,AND OTHER EVENTS. DUE TO COVID THE LIBRARY DID NOT HOLD OUR WEEKLY STORY HOURS,LUNCHTIME READING PROGRAMS, AND BOOK DISCUSSION GROUPS. IT WASN'T UNTIL JULY 2021 THAT PATRONS RETURNED TO THE LIBRARY BUILDING. THE LIBRARY PROVIDES WI-FI INTERNET ACCESS, AND A BANK OF COMPUTERS AVAILABLE TO THE PUBLIC WHICH WERE USED HUNDREDS OF TIMES IN 2021. THE LIBRARY HOSTED 129 (MOSTLY ZOOM) PROGRAMS FOR 1,733 ATTENDEES. THE LIBRARY SPONSORED A MOVIE-STREAMING SERVICE (KANOPY) USED OVER 2,500 TIMES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Zollo Interim Director | Officer | 40 | $42,505 |
Peter Blodgett Director (former) | Officer | 40 | $30,860 |
Andrew Cook Treasurer | OfficerTrustee | 6 | $0 |
Ashley Jamele Secretary | OfficerTrustee | 2 | $0 |
Hedi Parafina Vice-Chair | OfficerTrustee | 10 | $0 |
Barbara Defelice Chair | OfficerTrustee | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,594 |
| All other contributions, gifts, grants, and similar amounts not included above | $178,281 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $200,875 |
| Total Program Service Revenue | $3,442 |
| Investment income | $12,570 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,899 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $864 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $236,650 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $638 |
| 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. | $56,785 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,941 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $355 |
| Payroll taxes | $6,252 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,979 |
| Fees for services: Accounting | $1,937 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,432 |
| Information technology | $4,567 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $46 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,081 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $138,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,975 |
| Savings and temporary cash investments | $20,380 |
| 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 | $303,885 |
| Investments—publicly traded securities | $664,806 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,066,046 |
| Accounts payable and accrued expenses | $11,549 |
| 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 | $11,549 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $303,885 |
| Retained earnings, endowment, accumulated income, or other funds | $750,612 |
| Total liabilities and net assets/fund balances | $1,066,046 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Latham Memorial Library Inc has recieved totaling $5,600.
| Awarding Organization | Amount |
|---|---|
Nara Fund Inc Thetford, VT PURPOSE: KANOPY SUBSCRIPTION AND INFORMATION TECHNOLOGY EQUIPMENT. | $5,600 |
Endowment Analysis
| Beg. Balance | $626,557 |
| Earnings | $38,248 |
| Ending Balance | $664,805 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pierpont Morgan Library New York, NY | $416,332,166 | $59,153,120 |
Rochester Public Library Rochester, NY | $13,709,813 | $21,920,405 |
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
Publishers International Linking Association Inc Lynnfield, MA | $16,437,833 | $11,352,834 |
Springfield Museums Corporation Springfield, MA | $83,263,430 | $9,886,411 |
Westchester Library System Elmsford, NY | $6,787,041 | $7,508,558 |
American Antiquarian Society Worcester, MA | $122,268,688 | $9,559,298 |