Stonington Free Library Association
- Assets
- $7.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 16
- Location
- Stonington, CT
- Founding
- 02/1943
- Data as of
- 06/2021
- EIN
- 06-0665194
Organization Overview
Stonington Free Library Association is located in Stonington, CT. The organization was established in 1943. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Stonington Free Library Association employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stonington Free Library Association 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 06/2021, Stonington Free Library Association generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $642.7k during the year ending 06/2021. 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
THE STONINGTON FREE LIBRARY, INC'S PURPOSE IS TO ENRICH LIVES AND BUILD COMMUNITY BY BRINGING INFORMATION, IDEAS AND PEOPLE TOGETHER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBRARY SERVES OVER 3,100 CARD HOLDERS WITH A WIDE VARIETY OF SERVICES. WE HAVE A COLLECTION OF OVER 30,000 PRINT AND DIGITAL MEDIA AND PROVIDE ACCESS TO MANY ONLINE SUBSCRIPTION SERVICES, ALL FREE OF CHARGE. OUR STAFF AND VOLUNTEERS RUN OFF-SITE BOOK GROUPS AT THE HUMAN SERVICES DEPARTMENT AND AT AN ASSISTED LIVING FACILITY, AS WELL AS 5 LITTLE FREE LIBRARIES AROUND TOWN. OUR STAFF RUNS LIBRARY PROGRAMS REACHING OVER 6,000 CHILDREN THROUGH THE YEAR TO ENCOURAGE EARLY LITERACY, INCLUDING OUTREACH TO LOCAL SCHOOLS AND ORGANIZATIONS, STORY TIMES, SUMMER AND WINTER READING PROGRAMS AND MANY SPECIAL ACTIVITIES. OURADULT PROGRAMS REACH OVER 1,500 THROUGHOUT THE YEAR. WE ORGANIZE LECTURE SERIES, KNITTING GROUPS, READING PROGRAMS, TECH HELP SESSIONS, BOOK CLUBS, POETRY READINGS, OPEN MIC NIGHTS, INCLUSIVE PROGRAMMING, A SEED LIBRARY, MUSEUM PASSES, PUBLIC ACCESS COMPUTERS, HOTSPOTS, KINDLES AND WIFI. ALL OF OUR PROGRAMS ARE FREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Micayla Hall Library Dire | Officer | 40 | $68,526 |
Richard Cole Secretary | OfficerTrustee | 2 | $0 |
Denise Easton Co-President | OfficerTrustee | 2 | $0 |
Kevin Bowdler Treasurer | OfficerTrustee | 2 | $0 |
Chris Donahue Trustee | OfficerTrustee | 2 | $0 |
Allegra Griffiths Co-President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $237,115 |
| All other contributions, gifts, grants, and similar amounts not included above | $669,716 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $906,831 |
| Total Program Service Revenue | $330 |
| Investment income | $95,753 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,401 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,045,315 |
| 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. | $68,526 |
| Compensation of current officers, directors, key employees. | $13,705 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $267,748 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,789 |
| Payroll taxes | $24,079 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,374 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,861 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $18,810 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $195 |
| 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 | $72,283 |
| Insurance | $17,962 |
| All other expenses | $9,168 |
| Total functional expenses | $642,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402,390 |
| Savings and temporary cash investments | $171 |
| Pledges and grants receivable | $126,687 |
| 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 | $4,078 |
| Net Land, buildings, and equipment | $1,313,156 |
| Investments—publicly traded securities | $5,225,012 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,071,494 |
| Accounts payable and accrued expenses | $42,729 |
| Grants payable | $0 |
| Deferred revenue | $16,363 |
| 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 | $69,700 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $128,792 |
| Net assets without donor restrictions | $6,102,409 |
| Net assets with donor restrictions | $840,293 |
| 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 | $7,071,494 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Stonington Free Library Association has recieved totaling $16,057.
| Awarding Organization | Amount |
|---|---|
Chester Kitchings Family Foundation Orlando, FL PURPOSE: GENERAL OPERATING | $10,000 |
Fiduciary Charitable Foundation Boston, MA PURPOSE: DONATIONS | $5,807 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $250 |
Endowment Analysis
| Beg. Balance | $3,554,531 |
| Earnings | $1,004,972 |
| Net Contributions | $622,484 |
| Other Expense | $127,652 |
| Ending Balance | $5,054,335 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University Of Connecticut Foundation Incorporated Storrs, CT | $744,628,423 | $150,826,250 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Trustees For Harvard University Cambridge, MA | $1,524,141,919 | $57,204,982 |
The University Of Rhode Island Foundation & Alumni Engagement Kingston, RI | $283,152,721 | $40,864,874 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Harvard Private Capital Realty Inc Boston, MA | $2,527,458,180 | $415,073,812 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Massachusetts Foundation Inc Boston, MA | $842,030,994 | $57,111,837 |
Advanced Functional Fabrics Of America Inc Cambridge, MA | $14,465,650 | $24,588,104 |