Scoville Memorial Library Association Inc
- Assets
- $6.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 10
- Location
- Salisbury, CT
- Founding
- 04/1934
- Data as of
- 06/2023
- EIN
- 06-0653164
Organization Overview
Scoville Memorial Library Association Inc is located in Salisbury, CT. The organization was established in 1934. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2023, Scoville Memorial Library Association Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scoville Memorial Library Association 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 06/2023, Scoville Memorial Library Association Inc generated $1.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $631.5k 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
PUBLIC LIBRARY PROVIDING FREE AND OPEN ACCESS TO COLLECTIONS, SERVICES AND PROGRAMS THAT INSPIRE, EDUCATE AND ENRICH THE ENTIRE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC LIBRARY SERVICES PROVIDING FREE USE OF BOOKS TO THE GENERAL PUBLIC AND EDUCATING USING HISTORICAL PIECES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karin Goodell Director | OfficerTrustee | 35 | $78,750 |
Stephanie Koven President | OfficerTrustee | 5 | $0 |
Ellyn Mittman Vice President | OfficerTrustee | 5 | $0 |
Cynthia Walsh Treasurer | OfficerTrustee | 5 | $0 |
Fabio Bertoni Secretary | OfficerTrustee | 5 | $0 |
Catherine Chatham Secretary | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $189,967 |
| All other contributions, gifts, grants, and similar amounts not included above | $794,549 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $984,516 |
| Total Program Service Revenue | $1,728 |
| Investment income | $72,784 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$32,333 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,026,695 |
| 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. | $78,750 |
| Compensation of current officers, directors, key employees. | $39,375 |
| Compensation to disqualified persons | $140,753 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,400 |
| Other employee benefits | $44,286 |
| Payroll taxes | $17,759 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,038 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,100 |
| Fees for services: Investment Management | $21,604 |
| Fees for services: Other | $821 |
| Advertising and promotion | $4,434 |
| Office expenses | $7,518 |
| Information technology | $24,829 |
| Royalties | $0 |
| Occupancy | $33,662 |
| 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 | $124,420 |
| Insurance | $20,658 |
| All other expenses | $3,720 |
| Total functional expenses | $631,483 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $367,671 |
| Savings and temporary cash investments | $0 |
| 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 | $2,276 |
| Net Land, buildings, and equipment | $1,947,041 |
| Investments—publicly traded securities | $3,832,483 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,149,471 |
| Accounts payable and accrued expenses | $4,201 |
| 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 | $4,201 |
| Net assets without donor restrictions | $5,993,927 |
| Net assets with donor restrictions | $151,343 |
| 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 | $6,149,471 |