Greenwich Library
- Assets
- $86.8m
- Revenue
- $8.0m
- Investments
- $0.0
- Employees
- 5
- Location
- Greenwich, CT
- Founding
- 12/1943
- Data as of
- 06/2021
- EIN
- 06-6002281
Organization Overview
Greenwich Library is located in Greenwich, 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 06/2021, Greenwich Library employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwich Library 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 06/2021, Greenwich Library generated $8.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $3.9m during the year ending 06/2021. While expenses have increased by 1.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE GREENWICH LIBRARY PROVIDES BOOKS AND OTHER MEDIA FOR THE ENTERTAINMENT, EDUCATION, AND RESEARCH OF THE CITIZENS OF THE TOWN AND SURROUNDING AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PETERSON FUNDED OPERATIONS:THE CLEMENTINE LOCKWOOD PETERSON FOUNDATION (THE "FOUNDATION"), A SEPARATE ENTITY OPERATED BY INDEPENDENT TRUSTEES, FUNDS THE MAINTENANCE AND OPERATIONS OF THE PETERSON WING OF THE MAIN LIBRARY THROUGH AN AGREEMENT BETWEEN THE LIBRARY AND THE TOWN OF GREENWICH. THIS WING OF THE MAIN BRANCH OFFERS PATRONS A LARGE, DIVERSE SELECTION OF LIBRARY MATERIALS RELATED TO BUSINESS, MUSIC AND THE ARTS. THROUGH THIS FUNDING, THE LIBRARY ALSO OFFERS MANY MUSICAL PROGRAMS DURING THE YEAR OFTEN FEATURING WORLD-RENOWNED ARTISTS, FREE AND OPEN TO THE PUBLIC.
PRIVATE FUNDING:EXPENDITURES FOR STAFF TRAINING AND DEVELOPMENT, CIRCULATING MATERIALS AND LIBRARY SUPPLIES, PROFESSIONAL CONSULTING ON BEST PRACTICES FOR THE LIBRARY, COMMUNITY BOOK PROGRAMS, LECTURES, CONCERTS AND ADULT AND CHILD ACTIVITIES AND PROGRAMS IN ADDITION TO THOSE SUPPORTED BY FRIENDS ORGANIZATIONS, CAPITAL ACQUISITIONS, IMPROVEMENTS AND RELATED DEPRECIATION, AND OTHER SPECIFIED PROJECTS.
FRIENDS ORGANIZATIONS: REFERS TO THE ORGANIZATIONS "FRIENDS OF GREENWICH LIBRARY," "FRIENDS OF COS COB LIBRARY, AND "FRIENDS OF BYRAM SHUBERT LIBRARY." THESE ORGANIZATIONS PROVIDE FUNDING AND ACTIVITIES FOR THE RESPECTIVE BRANCHES OF THE LIBRARY. PROGRAMS SUCH AS BOOK CLUBS, MAGIC SHOWS, STORY TIME FOR CHILDREN, ORAL HISTORY PROJECTS, ART EXHIBITS, CONCERTS, LECTURES, ARTS AND CRAFTS, COMMUNITY HOLIDAY CELEBRATIONS, AND MUCH MORE, ARE PROVIDED FOR PATRONS AT EACH BRANCH LOCATION OF THE LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peggy Pei Accounting Manager | Officer | 40 | $95,224 |
Lisa Mandel Director Of Dev. | Officer | 40 | $86,442 |
Hank Ashforth First Vice President | OfficerTrustee | 5 | $0 |
John Blankley Member-At-Large | OfficerTrustee | 1 | $0 |
Ian Murray Co-Treasurer | OfficerTrustee | 5 | $0 |
Raj Makam Co-Treasurer | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Peter Gisolfi Associates Architecture And Engineering | 6/29/21 | $491,727 |
Stone Harbor Project Advisors Project Advisors | 6/29/21 | $102,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,939,039 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,854,593 |
| Noncash contributions included in lines 1a–1f | $1,245,984 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,793,632 |
| Total Program Service Revenue | $32,082 |
| Investment income | $48,288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,152,443 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,026,445 |
| 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. | $262,907 |
| Compensation of current officers, directors, key employees. | $167,161 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $594,651 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $268,340 |
| Payroll taxes | $23,488 |
| 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 | $5,998 |
| Fees for services: Other | $154,380 |
| Advertising and promotion | $11,461 |
| Office expenses | $51,524 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,014 |
| Travel | $33,855 |
| 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 | $1,909,914 |
| Insurance | $0 |
| All other expenses | $11,176 |
| Total functional expenses | $3,878,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $436,475 |
| Savings and temporary cash investments | $565,660 |
| Pledges and grants receivable | $696,723 |
| 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 | $33,025,640 |
| Investments—publicly traded securities | $15,827,472 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,297,467 |
| Total assets | $86,849,437 |
| Accounts payable and accrued expenses | $110,268 |
| 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 | $110,268 |
| Net assets without donor restrictions | $46,970,600 |
| Net assets with donor restrictions | $39,768,569 |
| 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 | $86,849,437 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Greenwich Library has recieved totaling $3,250.
| Awarding Organization | Amount |
|---|---|
Russell Colgate Fund Inc Wilmington, DE PURPOSE: GENERAL PURPOSES | $3,000 |
Leah And Alain Lebec Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $250 |
Endowment Analysis
| Beg. Balance | $8,632,076 |
| Earnings | $2,054,476 |
| Net Contributions | $400,403 |
| Other Expense | $672,761 |
| Ending Balance | $10,414,194 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
Publishers International Linking Association Inc Lynnfield, MA | $16,437,833 | $11,352,834 |
Springfield Museums Corporation Springfield, MA | $83,263,430 | $9,886,411 |
Providence Public Library Providence, RI | $36,987,936 | $6,478,555 |
Westchester Library System Elmsford, NY | $6,787,041 | $7,508,558 |
American Antiquarian Society Worcester, MA | $122,268,688 | $9,559,298 |