Essex Library Association Inc
- Assets
- $5.3m
- Revenue
- $680.0k
- Investments
- $0.0
- Employees
- 12
- Location
- Essex, CT
- Founding
- 02/1970
- Data as of
- 06/2022
- EIN
- 06-0720076
Organization Overview
Essex Library Association Inc is located in Essex, CT. The organization was established in 1970. As of 06/2022, Essex Library Association Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Essex 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 06/2022, Essex Library Association Inc generated $680.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $645.7k during the year ending 06/2022. While expenses have increased by 0.2% 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
OPERATION OF A FREE PUBLIC LIBRARY AND SERVE AS A COMMUNITY CENTER FOR LIFELONG LEARNING. THIS MISSION EMBRACES LEARNING IN ITS MANY FORMS, FROM TRADITIONAL EDUCATIONAL MATERIALS AND PROGRAMS TO CULTURAL ENRICHMENT AND CIVIC ENGAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PROFESSIONALLY DIRECTED, FREE PUBLIC LIBRARY IN THE TOWN OF ESSEX,CONNECTICUT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Smith Executive Dir. | Officer | 45 | $82,416 |
Kathy Bonomi President | OfficerTrustee | 3 | $0 |
Sandy Cahill Secretary | OfficerTrustee | 1 | $0 |
Michael Delouchry Treasurer | OfficerTrustee | 1 | $0 |
Betsy Sandberg Vice President | OfficerTrustee | 1 | $0 |
Mike Hammond Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $330,661 |
| All other contributions, gifts, grants, and similar amounts not included above | $138,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $468,811 |
| Total Program Service Revenue | $1,914 |
| Investment income | $70,616 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $138,265 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $680,019 |
| 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. | $83,170 |
| Compensation of current officers, directors, key employees. | $41,585 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $219,420 |
| Pension plan accruals and contributions | $20,113 |
| Other employee benefits | $0 |
| Payroll taxes | $24,130 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,017 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $31,268 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,037 |
| 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 | $66,637 |
| Insurance | $12,619 |
| All other expenses | $8,368 |
| Total functional expenses | $645,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,902 |
| Savings and temporary cash investments | $105,353 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,746,670 |
| Investments—publicly traded securities | $3,447,847 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,310,772 |
| Accounts payable and accrued expenses | $3,546 |
| 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 | $3,546 |
| Net assets without donor restrictions | $5,186,821 |
| Net assets with donor restrictions | $120,405 |
| 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 | $5,310,772 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Essex Library Association Inc has recieved totaling $14,760.
| Awarding Organization | Amount |
|---|---|
Chester Kitchings Family Foundation Orlando, FL PURPOSE: GENERAL OPERATING | $10,000 |
Karlson Family Foundation Trumbull, CT PURPOSE: PUBLIC LIBRARY | $2,000 |
Mrb Foundation Inc Lake Geneva, WI PURPOSE: EDUCATIONAL | $1,000 |
Parkinson Family Foundation Inc Essex, CT PURPOSE: PROVIDE FUNDS FOR OPERATIONS | $500 |
Edward E Hood Jr Foundation Stamford, CT PURPOSE: GENERAL CHARITABLE | $500 |
Edward E Hood Jr Foundation Stamford, CT PURPOSE: GENERAL CHARITABLE | $500 |
Endowment Analysis
| Beg. Balance | $3,823,448 |
| Earnings | -$389,731 |
| Admin Expense | $19,316 |
| Net Contributions | $20,000 |
| Other Expense | $50,000 |
| Ending Balance | $3,384,401 |
Peer Organizations
| 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 |