Pequot Library Association is located in Southport, CT. The organization was established in 1950. As of 06/2022, Pequot Library Association employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pequot 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 06/2022, Pequot Library Association generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. While expenses have increased by 6.1% 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
PEQUOT LIBRARY'S MISSION IS TO BRING CULTURE TO LIFE, INCLUDING LITERATURE, ART, SCIENCE AND THE HUMANITIES. THE LIBRARY SERVES A BROAD AND DIVERSE AUDIENCE AND THROUGHOUT THE YEAR OFFERS A CIRCULATING COLLECTION OF BOOKS AND MEDIA, ORGANIZES A CHANGING SCHEDULE OF ART AND HISTORY EXHIBITIONS, PRESENTS NUMEROUS MUSIC PERFORMANCES AND EDUCATION PROGRAMS FOR ALL AGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEQUOT LIBRARY (PEQUOT), A PUBLIC ASSOCIATION LIBRARY, IS A 130-YEAR-OLD INSTITUTION WHERE COMMUNITY MEMBERS GATHER IN A THRIVING INTERGENERATIONAL ENVIRONMENT OF CULTURE, EDUCATION, AND INSPIRATION. PEQUOT'S LIBRARY SERVICES AND PROGRAMS FOR PATRONS OF ALL AGES ARE INSPIRED BY ITS RENOWNED SPECIAL COLLECTIONS OF RARE BOOKS, MANUSCRIPTS, AND ARCHIVES. PEQUOT IS HONORED TO SERVE THE COMMUNITY OF FAIRFIELD COUNTY AND BEYOND WITH OPPORTUNITIES AND AMENITIES THAT ARE UNIQUE TO THIS SPECIAL ORGANIZATION.SEE SCHEDULE O FOR CONTINUANCE OF PROGRAM ACCOMPLISHMENTSHISTORIC BUILDINGPEQUOT LIBRARY IS PROUD TO BE THE STEWARD OF A HISTORIC BUILDING DESIGNED BY NOTED AMERICAN ARCHITECT ROBERT H. ROBERTSON, COMMISSIONED BY PEQUOT'S PROMINENT FOUNDER, VIRGINIA MARQUAND MONROE. THE LIBRARY WAS THE PHILANTHROPIC GIFT OF MRS. MONROE TO THE VILLAGE OF SOUTHPORT, WHO HOPED IT WOULD BE A CENTER OF LEARNING AND CULTURE WITH PROGRAMS "AS FREE AS AIR TO ALL."PEQUOT LIBRARY'S HISTORIC BUILDING IS A LATE 19TH-CENTURY ROMANESQUE REVIVAL STONE STRUCTURE FEATURING A TWO-STORY STACKS WING WITH A GLASS FLOOR AND A NEARLY ACOUSTICALLY-PERFECT AUDITORIUM WITH A MODEST 1970S ADDITION AND A GREAT LAWN SUITABLE FOR A VARIETY OF OUTDOOR ACTIVITIES. PEQUOT IS LISTED ON THE NATIONAL REGISTER OF HISTORIC PLACES AND, IN 2018, RECEIVED THE CONNECTICUT TREASURES AWARD FROM THE AMERICAN INSTITUTE OF ARCHITECTS, CT CHAPTER.LIBRARY SERVICES AND CIRCULATING COLLECTIONPEQUOT LIBRARY CURATES A CIRCULATING COLLECTION OF MORE THAN 94,133 ITEMS WITH BOOKS FOR ADULTS, CHILDREN, AND YOUNG ADULTS, PLUS MEDIA ITEMS, ADDING 1,462 NEW ITEMS IN 2021-2022. PEQUOT CIRCULATED 24,678 ITEMS FROM ITS COLLECTIONS TO THE PUBLIC, WITH 46% OF THOSE ITEMS BEING CHILDREN'S MATERIALS.PUBLIC PROGRAMS AND COMMUNITY OUTREACHIN 2021-2022, PEQUOT LIBRARY OFFERED A TOTAL OF 315 PROGRAMS AND EVENTS TO PATRONS OF ALL AGES, 202 OF THESE PROGRAMS WERE OFFERED IN PERSON WITH THE BALANCE OFFERED VIA ZOOM OR LIVE STREAMED. YEAR-ROUND PROGRAMS INCLUDE AUTHOR TALKS, EXHIBITIONS, MUSICAL AND LIVE PERFORMANCES, WORKSHOPS, BOOK CLUBS, SCHOLARLY PRESENTATIONS, LECTURES, SCHOOL AND UNIVERSITY STUDENT TOURS, WALKING TOURS OF HISTORIC SOUTHPORT, AND NUMEROUS CHILDREN'S LITERACY PROGRAMS. THE LIBRARY ALSO COLLABORATES WITH THE TWO OTHER PUBLIC LIBRARIES IN TOWN, LOCAL SCHOOLS, AND COUNTLESS PEER ORGANIZATIONS IN THE AREA. COMMUNITY PROGRAMS HAVE EXPANDED TO INCLUDE ONLINE EXHIBITIONS AND VIRTUAL AUTHOR TALKS. PEQUOT DESIGNS THESE PROGRAMS AND EXHIBITIONS USING ITS NOTABLE SPECIAL COLLECTIONS OF RARE BOOKS, MANUSCRIPTS, AND ARCHIVES AS INSPIRATION. SPECIAL EVENT FUNDRAISERS INCLUDE USED BOOK SALES, A PARTY INSPIRED BY DERBY DAY, THE SOUTHPORT GARDEN STROLL AND OTHER EVENTS UNIQUE TO PEQUOT LIBRARY LIKE AUTHOR TALKS AND COMMUNITY ART SHOWS. IN 2021-2022, PROGRAM ATTENDANCE TOTALED 12,373; 17,240 PATRONS UTILIZING LIBRARY SERVICES IN PERSON AND WHEN COMBINED WITH WEB USERS VISITING THE LIBRARY'S WEBSITE, PEQUOT SERVED A TOTAL OF 147,921 PATRONS. PEQUOT FURTHER SERVES THE COMMUNITY THROUGH THE BOOKS FOR TEACHERS PROGRAM, SUPPORTED BY GRANT FUNDING FROM THE RENE B. FISHER FOUNDATION. THIS PROGRAM ALLOWED THE LIBRARY TO PROVIDE FREE BOOKS TO 181 TEACHERS IN BRIDGEPORT AND NEW HAVEN WHO SHOPPED AT THE ANNUAL SUMMER BOOK SALE. THE LIBRARY ALSO DONATED BOOKS TO AREA SENIOR CENTERS AND OTHER GROUPS IN NEED OF GENTLY USED BOOKS. SPECIAL COLLECTIONS AND EXHIBITIONSTHE SPECIAL COLLECTIONS OF RARE BOOKS, MANUSCRIPTS, AND ARCHIVES IS PART OF THE ORIGINAL LEGACY OF PEQUOT LIBRARY. VIRGINIA MARQUAND MONROE, IN COLLABORATION WITH HER HUSBAND, ELBERT MONROE, AND HER ADVISOR, REVEREND WILLIAM HOLMAN, CAREFULLY SELECTED AND GIFTED TO THE LIBRARY AN EXTRAORDINARY COLLECTION OF AMERICANA MATERIALS CENTERING AROUND THE FOUNDING OF THE NATION. MARY CATHERINE HULL WAKEMAN, ANOTHER SOUTHPORT PHILANTHROPIST, ALSO FUNDED AND CONTRIBUTED AN INCREDIBLY VALUABLE PORTION OF THE LIBRARY'S ORIGINAL COLLECTION. IN 20212022, PEQUOT LIBRARY'S SPECIAL COLLECTIONS NOW EXCEEDS 30,000 RARE BOOKS, MANUSCRIPTS, AND DOCUMENTS FROM THE 15TH CENTURY AND EARLIER TO PRESENT, THAT HELP ILLUMINATE THE HISTORY OF THE LOCAL AREA AND BEYOND. NEARLY 2,000 OF THE RARE PUBLISHED WORKS AND MANUSCRIPTS ARE CURRENTLY ON LONG-TERM LOAN TO YALE UNIVERSITY'S BEINECKE RARE BOOK AND MANUSCRIPT LIBRARY.CURRENT AND RECENT EXHIBITIONS OF THE SPECIAL COLLECTION HAVE INCLUDED THE LURE OF THE GARDEN: THE ENDURING DESIRE TO WORK AND SHAPE THE LAND; [HER]STORY: WOMEN'S ROLE THROUGH HISTORY ; AND MAGIC, MAYHEM, AND MATURITY: THE GROWTH OF YOUTH FANTASY LITERATURE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephanie J Coakley Executive Director | Officer | 40 | $133,498 |
Nelson North President | OfficerTrustee | 3 | $0 |
Sean Kelly President Ex-Officer | OfficerTrustee | 3 | $0 |
R Scott Balkan Treasurer | OfficerTrustee | 3 | $0 |
Kelly D Laferriere Assistant Treasurer | OfficerTrustee | 3 | $0 |
Lynne Van Winkle Trustee Thru 10/21, Sec. | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $54,440 |
Related organizations | $0 |
Government grants | $350,000 |
All other contributions, gifts, grants, and similar amounts not included above | $353,235 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $757,675 |
Total Program Service Revenue | $130,720 |
Investment income | $50,044 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $34,815 |
Net Gain/Loss on Asset Sales | $127,443 |
Net Income from Fundraising Events | $166,716 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,269,008 |
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. | $156,840 |
Compensation of current officers, directors, key employees. | $47,052 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $467,032 |
Pension plan accruals and contributions | $9,872 |
Other employee benefits | $39,199 |
Payroll taxes | $34,524 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $21,707 |
Fees for services: Other | $216,410 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $13,099 |
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 | $251,407 |
Insurance | $37,317 |
All other expenses | $182,504 |
Total functional expenses | $1,672,364 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $186,345 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $952 |
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 | $41,318 |
Net Land, buildings, and equipment | $4,295,198 |
Investments—publicly traded securities | $3,646,608 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $8,170,421 |
Accounts payable and accrued expenses | $106,521 |
Grants payable | $0 |
Deferred revenue | $7,500 |
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 | $2,500 |
Total liabilities | $116,521 |
Net assets without donor restrictions | $6,755,375 |
Net assets with donor restrictions | $1,298,525 |
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 | $8,170,421 |
Over the last fiscal year, we have identified 6 grants that Pequot Library Association has recieved totaling $7,858.
Awarding Organization | Amount |
---|---|
Young Mens Christian Assn Westport Westport, CT PURPOSE: The Bedford Family Social Responsibility Fund supports organizations that provide direct or supplemental educational opportunities. | $3,500 |
The Emily Hall Tremaine Foundation Inc New Haven, CT PURPOSE: COMMUNITY PROJECTS - GENERAL OPERATING | $2,000 |
The Emily Hall Tremaine Foundation Inc New Haven, CT PURPOSE: COMMUNITY PROJECTS - GENERAL OPERATING | $1,500 |
The James And Wendy Agah Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $750 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $75 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $33 |
Beg. Balance | $3,985,348 |
Earnings | -$595,303 |
Admin Expense | $30,833 |
Net Contributions | $250,000 |
Other Expense | $285,000 |
Ending Balance | $3,324,212 |
Organization Name | Assets | Revenue |
---|---|---|
Hartford Public Library Hartford, CT | $35,044,167 | $19,581,056 |
Great Neck Library Great Neck, NY | $34,961,861 | $11,637,861 |
Westport Library Assoc Westport, CT | $27,522,269 | $7,094,016 |
Oceanside Library Oceanside, NY | $46,476,817 | $6,978,242 |
Darien Library Inc Darien, CT | $29,008,924 | $5,931,772 |
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 |
Wilton Library Association Incorporated Wilton, CT | $11,356,788 | $3,701,367 |
Wallingford Public Library Assoc Wallingford, CT | $3,324,792 | $3,497,111 |