Beardsley & Memorial Library
- Assets
- $2.8m
- Revenue
- $604.0k
- Investments
- $1.8m
- Employees
- 14
- Location
- Winsted, CT
- Founding
- 08/1971
- Data as of
- 06/2022
- EIN
- 06-0662106
Organization Overview
Beardsley & Memorial Library is located in Winsted, CT. The organization was established in 1971. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2022, Beardsley & Memorial Library employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beardsley & Memorial 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, Beardsley & Memorial Library generated $604.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $511.3k during the year ending 06/2022. While expenses have increased by 1.6% 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
TO ENRICH THE LIVES OF PATRONS THROUGH PROMOTING LITERACY, LIFELONG LEARNING AND CULTURAL ENRICHMENT. THIS IS ACCOMPLISHED THROUGH ACCESS TO VARIOUS COLLECTIONS, RESOURCES AND PROGRAMS OFFERED TO THE POPULATION OF OUR THREE SERVICE TOWNS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC LIBRARY SERVING THE TOWNS OF WINCHESTER, COLEBROOK AND BARKHAMSTED, CONNECTICUT; PROVIDES ACCESS TO VARIOUS COLLECTIONS AND RESOURCES; OFFERS PROGRAMS TO THE POPULATION OF THE ORGANIZATION'S THREE SERVICE TOWNS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karin Taylor Libry Serv. Dir | Officer | 35 | $57,092 |
Jeannine Frink Secretary | OfficerTrustee | 2 | $0 |
Robert Geiger Vice President | OfficerTrustee | 2 | $0 |
Louise Van Alstyne President | OfficerTrustee | 2 | $0 |
Deborah Kane Asst. Treasurer | OfficerTrustee | 2 | $0 |
Anne Dodge Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $289,657 |
| All other contributions, gifts, grants, and similar amounts not included above | $217,958 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $507,615 |
| Total Program Service Revenue | $5,087 |
| Investment income | $91,285 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $603,987 |
| 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. | $61,382 |
| Compensation of current officers, directors, key employees. | $55,243 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $195,405 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,327 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,619 |
| Advertising and promotion | $505 |
| Office expenses | $10,317 |
| Information technology | $17,650 |
| Royalties | $0 |
| Occupancy | $68,961 |
| Travel | $596 |
| 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 | $55,143 |
| Insurance | $9,921 |
| All other expenses | $11,476 |
| Total functional expenses | $511,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $244,961 |
| 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 | $3,185 |
| Net Land, buildings, and equipment | $761,439 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,751,212 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,712 |
| Total assets | $2,773,509 |
| Accounts payable and accrued expenses | $11,560 |
| 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 | $11,560 |
| Net assets without donor restrictions | $2,761,949 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,773,509 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Beardsley & Memorial Library has recieved totaling $140,833.
| Awarding Organization | Amount |
|---|---|
Northwest Connecticut Community Foundation Inc Torrington, CT PURPOSE: General Support | $131,800 |
Tiffany-Thompson Foundation West Hartford, CT PURPOSE: CURRENT USE FOR GENERAL CHARITABLE PURPOSES | $9,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $33 |
Endowment Analysis
| Beg. Balance | $1,945,476 |
| Earnings | -$178,264 |
| Other Expense | $16,000 |
| Ending Balance | $1,751,212 |
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 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
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 |
Providence Public Library Providence, RI | $36,987,936 | $6,478,555 |