Derby Neck Library Association
- Assets
- $4.9m
- Revenue
- $1.1m
- Investments
- $2.9m
- Employees
- 0
- Location
- Derby, CT
- Founding
- 12/1959
- Data as of
- 06/2022
- EIN
- 06-0729365
Organization Overview
Derby Neck Library Association is located in Derby, CT. The organization was established in 1959. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Derby Neck 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, Derby Neck Library Association generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $683.4k during the year ending 06/2022. While expenses have increased by 1.9% per year over the past 6 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A PUBLIC LIBRARY IN THE CITY OF DERBY, CT. THE PUBLIC LIBRARY PROVIDES COMPREHENSIVE SERVICES TO THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shirley M Erickson Director | 0 | $0 | |
Randy Ritter Treasurer | 0 | $0 | |
Grace Torres Director | 0 | $0 | |
Maureen Coffey Director | 0 | $0 | |
Timothy Dillon Director | 0 | $0 | |
John M Rak Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $830,061 |
| Interest on Savings | $0 |
| Dividends & Interest | $181,947 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $54,252 |
| Capital Gain Net Income | $54,252 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,452 |
| Total Revenue | $1,074,712 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $313,773 |
| Pension plans, employee benefits | $34,935 |
| Interest | $0 |
| Taxes | $26,707 |
| Depreciation | $75,343 |
| Occupancy | $72,419 |
| Travel, conferences, and meetings | $110 |
| Printing and publications | $0 |
| Other expenses | $139,135 |
| Total operating and administrative expenses | $683,437 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $683,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $288,137 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,917,557 |
| Net Land, buildings, and equipment | $1,711,382 |
| Other assets | $0 |
| Total assets | $4,917,176 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $519 |
| Total liabilities | $519 |