Morristown Centennial Library Association
- Assets
- $1.8m
- Revenue
- $539.4k
- Investments
- $0.0
- Employees
- 9
- Location
- Morrisville, VT
- Founding
- 01/1976
- Data as of
- 06/2021
- EIN
- 03-0179589
Organization Overview
Morristown Centennial Library Association is located in Morrisville, VT. The organization was established in 1976. As of 06/2021, Morristown Centennial Library Association employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morristown Centennial 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 06/2021, Morristown Centennial Library Association generated $539.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $290.8k during the year ending 06/2021. While expenses have increased by 4.8% 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
MORRISTOWN CENTENNIAL LIBRARY ASSOCIATION PROVIDES A FREE PUBLIC LIBRARY FOR ALL RESIDENTS OF MORRISTOWN, VERMONT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE PUBLIC LIBRARY FOR THE RESIDENTS OF MORRISVILLE, VT
FREE PUBLIC LIBRARY FOR THE RESIDENTS OF MORRISVILLE, VT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marena Youngs Vice Preside | Officer | 1 | $0 |
Kate Lamb Secretary | Officer | 1 | $0 |
Stephanie Hoffman Treasurer | Officer | 1 | $0 |
Julie Pickett President | Officer | 1 | $0 |
Meredith Mcgee Trustee | Trustee | 1 | $0 |
Lucas Peterson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $180,598 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,722 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $228,320 |
| Total Program Service Revenue | $716 |
| Investment income | $50,455 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $247,082 |
| Net Income from Fundraising Events | $12,844 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $539,417 |
| 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 | $158,608 |
| Pension plan accruals and contributions | $665 |
| Other employee benefits | $16,964 |
| Payroll taxes | $11,387 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,032 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,656 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,138 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $224 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,760 |
| Insurance | $2,973 |
| All other expenses | $20,238 |
| Total functional expenses | $290,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,560 |
| Savings and temporary cash investments | $17,848 |
| 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 | $1,963 |
| Net Land, buildings, and equipment | $25,935 |
| Investments—publicly traded securities | $1,768,003 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,825,309 |
| Accounts payable and accrued expenses | $2,298 |
| 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 | $32,092 |
| Other liabilities | $0 |
| Total liabilities | $34,390 |
| Net assets without donor restrictions | $1,525,404 |
| Net assets with donor restrictions | $265,515 |
| 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 | $1,825,309 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Morristown Centennial Library Association has recieved totaling $3,150.
| Awarding Organization | Amount |
|---|---|
Copley Fund Morrisville, VT PURPOSE: PROVIDE ACTIVITIES FOR ELDERLY | $3,000 |
Tulgey Wood Foundation Inc Greenwich, CT PURPOSE: SUPPORT OF ORGANIZATION | $150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Great Neck Library Great Neck, NY | $34,961,861 | $11,637,861 |
Oceanside Library Oceanside, NY | $46,476,817 | $6,978,242 |
Connetquot Public Library Bohemia, NY | $10,940,573 | $6,656,257 |
Crandall Library Glens Falls, NY | $18,989,283 | $4,650,669 |
Bryant Library Roslyn, NY | $10,311,911 | $5,190,176 |
Port Jefferson Free Library Port Jefferson, NY | $14,577,531 | $4,685,963 |
Riverhead Free Library Riverhead, NY | $9,623,554 | $4,087,006 |
South Country Library Bellport, NY | $8,624,076 | $4,821,217 |
Nyack Library Nyack, NY | $12,067,573 | $3,118,005 |
Southern Tier Library System Painted Post, NY | $3,072,601 | $2,939,739 |
Cold Spring Harbor Library Cold Spring Harbor, NY | $10,366,192 | $3,012,849 |
Trustees Of The Forbes Library Northampton, MA | $10,232,224 | $2,847,127 |