Pequot Library Association is located in Southport, CT. The organization was established in 1950. As of 06/2024, Pequot Library Association employed 23 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 06/2024, Pequot Library Association generated $1.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.8m during the year ending 06/2024. While expenses have increased by 5.6% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PEQUOT LIBRARY ENRICHES LIVES BY SERVING THE CULTURAL, EDUCATIONAL, AND INTELLECTUAL NEEDS OF THE ENTIRE COMMUNITY. THE LIBRARY COLLECTS, PRESERVES, AND MAKES ACCESSIBLE A COLLECTION OF RARE BOOKS, MANUSCRIPTS, AND ARCHIVES; PROVIDES PUBLIC LIBRARY SERVICES; ORGANIZES ENGAGING PROGRAMS ABOUT HISTORY, LITERATURE, AND THE ARTS; CURATES SPECIAL COLLECTIONS EXHIBITIONS; AND HOSTS COMMUNITY-WIDE GATHERINGS IN A HISTORIC SETTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEQUOT LIBRARY ENRICHES LIVES BY SERVING THE CULTURAL, EDUCATIONAL, AND INTELLECTUAL NEEDS OF THE ENTIRE COMMUNITY. THE LIBRARY COLLECTS, PRESERVES, AND MAKES ACCESSIBLE A COLLECTION OF RARE BOOKS, MANUSCRIPTS, AND ARCHIVES; PROVIDES PUBLIC LIBRARY SERVICES; ORGANIZES ENGAGING PROGRAMS ABOUT HISTORY, LITERATURE, AND THE ARTS; CURATES SPECIAL COLLECTIONS EXHIBITIONS; AND HOSTS COMMUNITY-WIDE GATHERINGS IN A HISTORIC SETTING. SEE SCHEDULE O FOR CONTINUANCE OF PROGRAM SERVICE ACCOMPLISHMENTSHISTORIC BUILDING:PEQUOT 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 COLLECTION:PEQUOT LIBRARY CURATES A CIRCULATING COLLECTION OF MORE THAN 107,000 ITEMS WITH BOOKS FOR ADULTS, CHILDREN, AND YOUNG ADULTS, PLUS MEDIA ITEMS LIKE AUDIOBOOKS, ADDING 2,408 NEW ITEMS IN 2023-2024. PEQUOT LIBRARY CIRCULATED 27,027 ITEMS FROM ITS COLLECTIONS TO THE PUBLIC, INCLUDING IINTER LIBRARY LOANS AND SEED LIBRARY, WITH 42% OF THOSE ITEMS BEING CHILDREN'S MATERIALS.PUBLIC PROGRAMS AND COMMUNITY OUTREACH;IN 2023-2024, PEQUOT LIBRARY OFFERED A TOTAL OF 535 PROGRAMS AND EVENTS TO PATRONS OF ALL AGES, INCLUDING 26 SCHOOL PROGRAMS, WHICH REACHED 1,298 STUDENTS, AND 84 SELF-DIRECTED ACTIVITIES LIKE CRAFTS FOR YOUTH VISITORS, WHICH GARNERED 1,892 PARTICIPANTS. 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 2023-2024, PROGRAM ATTENDANCE TOTALED 34,918 (INCLUDES 1,892 PARTICIPANTS IN SELF-DIRECTED ACTIVITIES AND VIEWS OF PRE-RECORDED PROGRAMMING); 23,769 PATRONS UTILIZING LIBRARY SERVICES IN PERSON AND WHEN COMBINED WITH WEB USERS VISITING THE LIBRARY'S WEBSITE, PEQUOT SERVED A TOTAL OF 108,687 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 267 TEACHERS IN BRIDGEPORT, NEW HAVEN, AND OTHER LOW INCOME COMMUNITIES WHO SHOPPED AT THE ANNUAL SUMMER BOOK SALE AND THE ANNUAL MIDWINTER BOOK SALE. THE LIBRARY ALSO DONATED BOOKS TO AREA SENIOR CENTERS AND OTHER GROUPS IN NEED OF GENTLY USED BOOKS. SPECIAL COLLECTIONS AND EXHIBITIONS;THE 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 2023-2024, PEQUOT LIBRARY'S SPECIAL COLLECTIONS AROUND 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 BOOK BEAUTIFUL: SELECTIONS FROM THE PRIVATE PRESS MOVEMENT; HOW WILLIAM BECAME SHAKESPEARE: FOUR HUNDRED YEARS OF THE FIRST FOLIO; CHARTING YOUR COURSE; CUTTING-EDGE NAVIGATION AND SEAFARING; WASTE NOT: PRESERVATION AT PLAY; AND EARLY AMERICAN CHILDREN'S BOOKS AND THE SHAPING OF NATIONAL IDENTITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephanie J Coakley Executive Director | Officer | 40 | $145,855 |
Coke Anne Wilcox President | OfficerTrustee | 3 | $0 |
Ellen Levinson Treasurer | OfficerTrustee | 1 | $0 |
Kelly D Laferriere Assistant Treasurer | OfficerTrustee | 3 | $0 |
Lynne Laukhuf Secretary (as Of 10/23) | OfficerTrustee | 2 | $0 |
Nelson North Ex-Officio | OfficerTrustee | 3 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $73,921 |
Related organizations | $0 |
Government grants | $350,000 |
All other contributions, gifts, grants, and similar amounts not included above | $706,935 |
Noncash contributions included in lines 1a–1f | $12,505 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,130,856 |
Total Program Service Revenue | $174,826 |
Investment income | $112,420 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $32,754 |
Net Gain/Loss on Asset Sales | $33,770 |
Net Income from Fundraising Events | $196,891 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,687,305 |
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. | $157,848 |
Compensation of current officers, directors, key employees. | $13,107 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $601,994 |
Pension plan accruals and contributions | $15,069 |
Other employee benefits | $46,062 |
Payroll taxes | $55,471 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $75,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $23,811 |
Fees for services: Other | $109,751 |
Advertising and promotion | $0 |
Office expenses | $76,792 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $59,572 |
Travel | $9,735 |
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 | $240,584 |
Insurance | $40,657 |
All other expenses | $34,697 |
Total functional expenses | $1,797,423 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $917,608 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $2,000 |
Accounts receivable, net | $12,487 |
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 | $47,713 |
Net Land, buildings, and equipment | $3,837,427 |
Investments—publicly traded securities | $3,509,047 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $38,045 |
Total assets | $8,364,327 |
Accounts payable and accrued expenses | $143,564 |
Grants payable | $0 |
Deferred revenue | $6,025 |
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 | $38,427 |
Total liabilities | $188,016 |
Net assets without donor restrictions | $6,696,004 |
Net assets with donor restrictions | $1,480,307 |
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 | $8,364,327 |