Stratford Library Association
- Assets
- $5.8m
- Revenue
- $3.9m
- Investments
- $331.8k
- Employees
- 54
- Location
- Stratford, CT
- Founding
- 04/1943
- Data as of
- 06/2022
- EIN
- 06-0756208
Organization Overview
Stratford Library Association is located in Stratford, 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 06/2022, Stratford Library Association employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stratford 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, Stratford Library Association generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $3.7m during the year ending 06/2022. While expenses have increased by 7.5% 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 GENERAL PUBLIC IN THE STRATFORD COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBRARY SERVICE TO THE GENERAL PUBLIC: 46,690 REGISTERED CARDHOLDERS 2,061 PROGRAMS OFFERED IN FY 22272,972 ITEMS BORROWED IN FY 22
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheri Szymanski Library Director | Officer | 35 | $96,514 |
Michael Aloi President | OfficerTrustee | 0 | $0 |
Donald Putrimas Treasurer | OfficerTrustee | 0 | $0 |
Deborah Perman Secretary | OfficerTrustee | 0 | $0 |
Joel Pleban Assistant Treasurer | OfficerTrustee | 0 | $0 |
Maria Ferrera Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,465,942 |
| All other contributions, gifts, grants, and similar amounts not included above | $277,149 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,743,091 |
| Total Program Service Revenue | $25,474 |
| Investment income | $63,430 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,114 |
| Net Income from Fundraising Events | $23,687 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,949,796 |
| 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. | $103,603 |
| Compensation of current officers, directors, key employees. | $89,919 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,933,665 |
| Pension plan accruals and contributions | $118,262 |
| Other employee benefits | $545,408 |
| Payroll taxes | $147,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,134 |
| Fees for services: Other | $48,348 |
| Advertising and promotion | $8,065 |
| Office expenses | $35,215 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,331 |
| 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 | $81,288 |
| Insurance | $24,222 |
| All other expenses | $4,005 |
| Total functional expenses | $3,674,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,599 |
| Savings and temporary cash investments | $1,028,012 |
| Pledges and grants receivable | $22,059 |
| Accounts receivable, net | $13,489 |
| 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 | $18,595 |
| Net Land, buildings, and equipment | $1,995,605 |
| Investments—publicly traded securities | $2,357,381 |
| Investments—other securities | $331,756 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,818,496 |
| Accounts payable and accrued expenses | $8,871 |
| Grants payable | $0 |
| Deferred revenue | $2,512 |
| 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 | $11,383 |
| Net assets without donor restrictions | $3,459,758 |
| Net assets with donor restrictions | $2,347,355 |
| 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 | $5,818,496 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Stratford Library Association has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Newmans Own Foundation Westport, CT PURPOSE: GENERAL OPERATIONS | $2,500 |
Endowment Analysis
| Beg. Balance | $2,785,302 |
| Earnings | -$371,210 |
| Admin Expense | $27,739 |
| Other Expense | $98,003 |
| Ending Balance | $2,288,350 |
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 |