Stratford Library Association
- Assets
- $7.2m
- Revenue
- $4.5m
- Investments
- $528.1k
- Employees
- 58
- Location
- Stratford, CT
- Founding
- 04/1943
- Data as of
- 06/2024
- EIN
- 06-0756208
Organization Overview
Stratford Library Association is located in Stratford, CT. The organization was established in 1943. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2024, Stratford Library Association employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stratford 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, Stratford Library Association generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $3.8m during the year ending 06/2024. While expenses have increased by 7.0% per year over the past 8 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
TO PROVIDE LIBRARY SERVICES TO THE GENERAL PUBLIC IN THE STRATFORD COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBRARY SERVICE TO THE GENERAL PUBLIC: 30,196 REGISTERED CARDHOLDERS 3,879 PROGRAMS OFFERED IN FY 24 316,050 ITEMS BORROWED IN FY 24
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maria Ferrera President | OfficerTrustee | 0 | $0 |
Robyn D Proto Vice President | OfficerTrustee | 0 | $0 |
Donald Putrimas Treasurer | OfficerTrustee | 0 | $0 |
Doreen Jaekle Trustee | Trustee | 0 | $0 |
Shelly S Hall Trustee | Trustee | 0 | $0 |
Gladys A Ramos Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,505,914 |
| All other contributions, gifts, grants, and similar amounts not included above | $84,753 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,590,667 |
| Total Program Service Revenue | $30,813 |
| Investment income | $135,284 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $707,706 |
| Net Income from Fundraising Events | $19,411 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,483,881 |
| 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. | $122,470 |
| Compensation of current officers, directors, key employees. | $14,684 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,045,251 |
| Pension plan accruals and contributions | $120,677 |
| Other employee benefits | $560,440 |
| Payroll taxes | $155,648 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,613 |
| Fees for services: Accounting | $15,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,665 |
| Fees for services: Other | $4,423 |
| Advertising and promotion | $6,219 |
| Office expenses | $61,552 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $92,815 |
| 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 | $92,051 |
| Insurance | $36,294 |
| All other expenses | $1,582 |
| Total functional expenses | $3,802,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173,051 |
| Savings and temporary cash investments | $792,025 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,391 |
| 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 | $1,450 |
| Net Land, buildings, and equipment | $1,880,175 |
| Investments—publicly traded securities | $3,869,312 |
| Investments—other securities | $528,077 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,247,481 |
| Accounts payable and accrued expenses | $123,776 |
| Grants payable | $0 |
| Deferred revenue | $20,933 |
| 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 | $144,709 |
| Net assets without donor restrictions | $4,328,655 |
| Net assets with donor restrictions | $2,774,117 |
| 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 | $7,247,481 |