Proctor Free Library
- Assets
- $1.2m
- Revenue
- $249.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Proctor, VT
- Founding
- 11/1934
- Data as of
- 06/2021
- EIN
- 03-0179597
Organization Overview
Proctor Free Library is located in Proctor, VT. The organization was established in 1934. As of 06/2021, Proctor Free Library employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Proctor Free 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, Proctor Free Library generated $249.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 47.5% each year . All expenses for the organization totaled $111.5k during the year ending 06/2021. 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 LIBRARY ENABLES THE COMMUNITY TO READ, PROVIDES INTERNET ACCESS AND OTHER ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE LIBRARY IS TO ENRICH THE LIVES OF THE RESIDENTS OF THE TOWN OF PROCTOR BY PROVIDING BOOKS AND OTHER MATERIALS WHICH THYE CAN BORROW. THE LIBRARY ALSO PROVIDES ACCESS TO COMPUTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Fregosi President | OfficerTrustee | 2 | $0 |
Phyillis Lanz Vice President | OfficerTrustee | 2 | $0 |
Whitney Christie Secretary | OfficerTrustee | 2 | $0 |
Cathy Canty Treasurer | OfficerTrustee | 2 | $0 |
Shannon Maass Trustee | Trustee | 2 | $0 |
Don Russell Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,461 |
| Investment income | $54,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $127,191 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $249,912 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $55,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,483 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,262 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $105 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,034 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $111,472 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,540 |
| Savings and temporary cash investments | $0 |
| 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 |
| Investments—publicly traded securities | $1,128,127 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,193,667 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,193,667 |
| Total liabilities and net assets/fund balances | $1,193,667 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Proctor Free Library has recieved totaling $30,388.
| Awarding Organization | Amount |
|---|---|
Mortimer R Proctor Tr Sec Ix Bridgeport, CT PURPOSE: PURCHASE BOOKS | $30,388 |
Endowment Analysis
| Beg. Balance | $920,467 |
| Earnings | $250,752 |
| Admin Expense | $8,262 |
| Other Expense | $34,830 |
| Ending Balance | $1,128,127 |
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 |