Bridgewater Library Association
- Assets
- $744.7k
- Revenue
- $186.0k
- Investments
- $0.0
- Employees
- 8
- Location
- Bridgewater, CT
- Founding
- 07/1965
- Data as of
- 06/2022
- EIN
- 06-6044812
Organization Overview
Bridgewater Library Association is located in Bridgewater, CT. The organization was established in 1965. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2022, Bridgewater Library Association employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewater 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, Bridgewater Library Association generated $186.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $226.3k during the year ending 06/2022. While expenses have increased by 7.6% 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
TO PROVIDE LIBRARY SERVICES TO THE LOCAL COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LIBRARY SERVICES TO THE LOCAL COMMUNITY.THE BURNHAM LIBRARY IS A VALUED REGIONAL RESOURCE FOR BRIDGEWATER AND SURROUNDING TOWNS, PROVIDING A WARM FRIENDLY ENVIRONMENT FOR LIFELONG LEARNING, CULTURAL EVENTS AND COMMUNITY ACTIVITIES. IT IS RESPONSIVE TO STAKEHOLDERS NEEDS AND USES ACKNOWLEDGED BEST PRACTICES. DURING THIS PAST YEAR, THE LIBRARY CONTINUED TO EXPAND ON SERVICE GOALS: EXPANDED HOURS/ACCESS, IMPROVED TECHNOLOGY ACCESS/INFRASTRUCTURE, AND INCREASE IN INNOVATIVE PROGRAMS AND SERVICES. OUR CIRCULATION NUMBERS AND PROGRAM ATTENDANCE NUMBERS HAVE SURGED THIS FISCAL YEAR, DIGITAL BRANCH USAGE REMAINS STEADY AND WORKPLACE AND MEETING SPACE USAGE HAS GROWN. ACCESS AND INNOVATION EXPANDING AND REALLOCATION OF HOURSNEW HOURS INTRODUCED 9/1: TUES-FRIDAY 10:00 5:00, SATURDAY 9:00 1:00PATRON COUNT = 10,223 AN INCREASE OF 135% FROM FY 20/21CIRCULATION = 21,929 AN INCREASE OF 61% FROM FY 20/21 DIGITAL BRANCHBIBLIOMATION CONSORTIUM SPONSORS ONE YEAR OF MAGAZINES VIA LIBBYNEW ADDITIONS: CRAFTSY VIA LIBBY, HOOPLA BINGE PASS DIGITAL BRANCH CIRCULATION FY21/22 = 2387AUDIO BOOKS #1 CIRCULATING ITEMS LIBRARY OF THINGS (LOT)INTRODUCED JULY 2021, FEATURING LAWN GAMES AND EQUIPMENTLAWN GAMES CIRCULATION FY21/22 = 51TECH/EQUIPMENT FY21/22 = 160 MEETINGS AND WORKSPACEWORKSPACE USAGE SURGED FROM 19 PATRONS IN FY 20/21 TO 103 PATRONS IN FY 21/22MEETING SPACE USAGE GREW FROM 39 MEETINGS IN FY 20/21 TO 46 MEETINGS IN 21/22DEVELOPED WEBSITE WIDGET FOR EFFORTLESS ADULT PROGRAM REGISTRATION COMMUNITY ENGAGEMENT AND PROGRAMMING IN PERSON PROGRAMMING RETURNED WITH A BANG! PROGRAMMING NUMBERSPROGRAMS OFFERED = 217PROGRAM ATTENDANCE SURGED FROM 5420 IN FY20/21 TO 9468 IN FY 21/22
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Flynn Secretary | OfficerTrustee | 1 | $0 |
Betsy Perlman President | OfficerTrustee | 1 | $0 |
Frank Kelly Vice President | OfficerTrustee | 1 | $0 |
Cheryl Johnson Treasurer | OfficerTrustee | 1 | $0 |
Melinda Luke Trustee | Trustee | 1 | $0 |
Jane Bernstein Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $126,287 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,765 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,052 |
| Total Program Service Revenue | $23,781 |
| Investment income | $23,148 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $185,981 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $118,318 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,286 |
| Payroll taxes | $9,052 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,735 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $500 |
| Fees for services: Other | $4,390 |
| Advertising and promotion | $238 |
| Office expenses | $14,033 |
| Information technology | $7,042 |
| Royalties | $0 |
| Occupancy | $24,030 |
| 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 | $20,375 |
| Insurance | $4,599 |
| All other expenses | $122 |
| Total functional expenses | $226,259 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,597 |
| Savings and temporary cash investments | $140,067 |
| 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 | $3,268 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,575 |
| Net Land, buildings, and equipment | $24,153 |
| Investments—publicly traded securities | $572,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $744,692 |
| Accounts payable and accrued expenses | $0 |
| 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 | $110 |
| Total liabilities | $110 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $473,334 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $271,248 |
| Total liabilities and net assets/fund balances | $744,692 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bridgewater Library Association has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pierpont Morgan Library New York, NY | $416,332,166 | $59,153,120 |
Rochester Public Library Rochester, NY | $13,709,813 | $21,920,405 |
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 |