Kennett Library
- Assets
- $11.1m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 25
- Location
- Kennett Square, PA
- Founding
- 06/1958
- Data as of
- 12/2021
- EIN
- 23-1547585
Organization Overview
Kennett Library is located in Kennett Square, PA. The organization was established in 1958. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2021, Kennett Library employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kennett 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 12/2021, Kennett Library generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 1.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE KENNETT LIBRARY IS TO PROVIDE LIBRARY SERVICES TO ITS ESTABLISHED SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE KENNETT LIBRARY SERVES RESIDENTS IN EIGHT MUNICIPALITIES (EAST MARLBOROUGH, KENNETT SQUARE, KENNETT TOWNSHIP, NEW GARDEN, NEWLIN, PENNSBURY, POCOPSON, WEST MARLBOROUGH) IN SOUTHERN CHESTER COUNTY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Yetter President | OfficerTrustee | 10 | $0 |
Bradley Peiper Vice Preside | OfficerTrustee | 10 | $0 |
Victoria Gilrane Treasurer | OfficerTrustee | 3 | $0 |
William Majarian Secretary | OfficerTrustee | 1.75 | $0 |
Barbara Bolton Trustee | Trustee | 1 | $0 |
Todd Bruce Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $35,340 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,077,348 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,462,886 |
| Noncash contributions included in lines 1a–1f | $402,530 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,575,574 |
| Total Program Service Revenue | $22,585 |
| Investment income | $60,159 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$200,950 |
| Net Income from Fundraising Events | $21,802 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,479,180 |
| 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. | $10,096 |
| Compensation of current officers, directors, key employees. | $1,010 |
| Compensation to disqualified persons | $50,065 |
| Other salaries and wages | $411,211 |
| Pension plan accruals and contributions | $24,218 |
| Other employee benefits | $57,341 |
| Payroll taxes | $38,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,921 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $17,600 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $92,604 |
| Advertising and promotion | $14,696 |
| Office expenses | $1,860 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,603 |
| Travel | $1,353 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $468 |
| Interest | $35 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,160 |
| Insurance | $6,396 |
| All other expenses | $23,914 |
| Total functional expenses | $1,022,098 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350,209 |
| Savings and temporary cash investments | $4,878,695 |
| 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 | $2,718,140 |
| Investments—publicly traded securities | $3,132,655 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,375 |
| Total assets | $11,133,074 |
| Accounts payable and accrued expenses | $4,311 |
| 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 | $4,311 |
| Net assets without donor restrictions | $5,928,501 |
| Net assets with donor restrictions | $5,200,262 |
| 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 | $11,133,074 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kennett Library has recieved totaling $250,000.
| Awarding Organization | Amount |
|---|---|
Cabot-Kjellerup Foundation West Grove, PA PURPOSE: FOR GENERAL SUPPORT OF CHARITABLE ACTIVITIES | $250,000 |
Endowment Analysis
| Beg. Balance | $339,291 |
| Earnings | $49,057 |
| Admin Expense | $1,074 |
| Ending Balance | $387,274 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Reuben Mcmillan Free Library Association Youngstown, OH | $89,698,038 | $21,065,303 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Allegheny County Library Assoc Pittsburgh, PA | $1,615,297 | $12,970,956 |
Greene County Public Library Xenia, OH | $9,776,484 | $13,108,130 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
The Free Library Of Philadelphia Philadelphia, PA | $55,485,474 | $14,690,366 |
Elyria Public Library Elyria, OH | $12,392,667 | $6,063,469 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
Bucks County Free Library Doylestown, PA | $22,091,549 | $9,285,989 |
Science History Institute Support Company Philadelphia, PA | $170,290,036 | $11,212,295 |
Ohionet Westerville, OH | $9,473,014 | $8,653,205 |