Civic Intelligence

Bennington Free Library

990 • Fiscal year 2023 • EIN 03-0181067

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 01, 2023

101 Silver StreetBennington, VT 05201

(802) 442-9051

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

20th percentile

0.00x

Higher debt load relative to revenue than 20% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

27th percentile

-6.9%

Higher net margin than 27% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

56th percentile

$74,254

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 10.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

36th percentile

-0.0%

Faster asset growth than 36% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

56th percentile

10%

Faster revenue growth than 56% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$1,136,361

Down $9 (-0.0%) from 2022

Net Assets

Up

$1,134,983

Up $4,516 (+0.4%) from 2022

Liabilities

Down

$1,378

Down $4,525 (-77%) from 2022

Revenue

Up

$745,695

Up $70,259 (+10%) from 2022

Expenses

Up

$797,226

Up $180,162 (+29%) from 2022

Net Income

Down

-$51,531

Down $109,903 (-188%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $643,622Liabilities 2011: $14,192Net Assets 2011: $629,4302011Assets 2012: $702,028Liabilities 2012: $15,762Net Assets 2012: $686,2662012Assets 2013: $730,127Liabilities 2013: $21,714Net Assets 2013: $708,4132013Assets 2014: $811,334Liabilities 2014: $25,954Net Assets 2014: $785,3802014Assets 2015: $761,766Liabilities 2015: $31,264Net Assets 2015: $730,5022015Assets 2016: $826,644Liabilities 2016: $37,665Net Assets 2016: $788,9792016Assets 2017: $845,066Liabilities 2017: $26,633Net Assets 2017: $818,4332017Assets 2018: $1,002,996Liabilities 2018: $22,482Net Assets 2018: $980,5142018Assets 2019: $952,342Liabilities 2019: $33,234Net Assets 2019: $919,1082019Assets 2020: $1,062,356Liabilities 2020: $95,590Net Assets 2020: $966,7662020Assets 2021: $1,205,906Liabilities 2021: $8,034Net Assets 2021: $1,197,8722021Assets 2022: $1,136,370Liabilities 2022: $5,903Net Assets 2022: $1,130,4672022Assets 2023: $1,136,361Liabilities 2023: $1,378Net Assets 2023: $1,134,9832023Assets 2024: $1,229,432Liabilities 2024: $3,078Net Assets 2024: $1,226,3542024Assets 2025: $1,372,465Liabilities 2025: $4,273Net Assets 2025: $1,368,1922025

Highlighted filing

2023

Assets$1,136,361
Liabilities$1,378
Net Assets$1,134,983

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $487,467Expenses 2011: $451,716Net Income 2011: $35,7512011Revenue 2012: $568,057Expenses 2012: $506,877Net Income 2012: $61,1802012Revenue 2013: $498,554Expenses 2013: $498,496Net Income 2013: $582013Revenue 2014: $502,327Expenses 2014: $477,944Net Income 2014: $24,3832014Revenue 2015: $501,202Expenses 2015: $546,889Net Income 2015: -$45,6872015Revenue 2016: $592,583Expenses 2016: $517,531Net Income 2016: $75,0522016Revenue 2017: $586,570Expenses 2017: $613,911Net Income 2017: -$27,3412017Revenue 2018: $657,423Expenses 2018: $522,300Net Income 2018: $135,1232018Revenue 2019: $651,440Expenses 2019: $710,453Net Income 2019: -$59,0132019Revenue 2020: $623,098Expenses 2020: $576,546Net Income 2020: $46,5522020Revenue 2021: $736,369Expenses 2021: $624,405Net Income 2021: $111,9642021Revenue 2022: $675,436Expenses 2022: $617,064Net Income 2022: $58,3722022Revenue 2023: $745,695Expenses 2023: $797,226Net Income 2023: -$51,5312023Revenue 2024: $796,200Expenses 2024: $748,909Net Income 2024: $47,2912024Revenue 2025: $841,974Expenses 2025: $746,232Net Income 2025: $95,7422025

Highlighted filing

2023

Revenue$745,695
Expenses$797,226
Net Income-$51,531
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 1, 2023
Return Version
2022v5.0
Gross Receipts
$932,350
Mission and Program Overview

Mission

The bennington free library provides materials and services that will meet the educational, informational, cultural and recreational needs of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$626,290$647,012▲ $20,722
Savings and Temporary Cash Investments$344,959$321,045▼ $23,914
Prepaid Expenses and Deferred Charges$13,987$14,871▲ $884
Cash and Non-Interest-Bearing Accounts$400$400→ $0
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,136,370$1,136,361▼ $9
Other Assets Total$150,734$153,033▲ $2,299
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,528--
Accounts Payable and Accrued Expenses$4,375$1,378▼ $2,997
Total Liabilities$5,903$1,378▼ $4,525
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$733,724$715,474▼ $18,250
Net Assets With Donor Restrictions$396,743$419,509▲ $22,766
Total Net Assets Fund Balance$1,130,467$1,134,983▲ $4,516
Total Liabilities and Net Assets / Fund Balance$1,136,370$1,136,361▼ $9
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lynne Fonteneau-mccannLibrary Direct.FT$74,254$74,254

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$728,651
Program Service Revenue
$1,210
Investment Income
$8,269
Other Revenue
$7,565
All Other Contributions
$210,151
Change in Net Assets
$-51,531

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$92,000Fair Market Value (FMV)
Total Noncash Contributions1$92,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$441,969
Other Expenses$355,257
Total Fundraising Expense$5,489
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$301,047--$301,047
Occupancy$235,226--$235,226
Current Officers, Directors, Trustees, and Key Employees-$93,432-$93,432
Payroll Taxes$22,743$7,148-$29,891
Information Technology$18,627--$18,627
Other Employee Benefits$13,954$3,645-$17,599
Other Expenses$6,884$3,210$5,489$6,884
All Other Expenses$6,354--$6,354
Fees for Services Accounting-$6,160-$6,160
Insurance$1,665$2,956-$4,621
Conferences and Meetings-$4,203-$4,203
Advertising-$3,713-$3,713
Fees for Service Investment Mgmnt Fees-$3,467-$3,467
Interest-$42-$42
Total Functional Expenses$658,445$133,292$5,489$797,226
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
David NewellTrusteeInsuranceNo-

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The library director emails a copy of the final version of form 990 to each board member before it is filed. It is not known if board members review the forms

Form 990, Part VI, Section B, Line 12C

Employees shall inform the director and that the director or members of the board of directors shall inform the board chairman of possible conflicts of interest in purchasing, hiring, or provision of services so that conflicts of interest may be resolved or removed.

Form 990, Part VI, Section B, Line 15A

The board sets up a personnel committee independent of the library director. The personnel committee annually reviews the performance of the library director. A written evaluation of the director's performance is drawn up by the committee. The director will receive a raise that is the same rate increase set by the board for all employees of the library.

Form 990, Part VI, Section C, Line 19

The library makes available its governing documents, financial statements and tax returns to the public upon written request. The library provides financial statements to the town of bennington select board on a quarterly basis.

Filing and Contact Details

Filer

Filer Name
Bennington Free Library
EIN
03-0181067
Phone
8024429051
Address
101 SILVER STREET, BENNINGTON, VT 05201

Signing Officer

Name
Lynne Fonteneau-mccann
Title
Library Direct.
Signed
2023-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lynne Fonteneau-mccann
Formed
1865
Legal Domicile
Vt
Voting Board Members
13
Independent Board Members
13
Employees
25
Volunteers
101

Preparer

Firm
McCormack Guyette & Associates PC
Address
66 Grove Street, Rutland, VT 05701
Preparer
Kevin S Markowski CPA
Phone
8027753221
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Chng in int held by vt commty fd = $26073

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

Endowment funds intended uses (part v, line 4)the library board transferred funds to the vermont community foundation to establsih an endowment fund for the library. The purpose of the endowment fund is to provide for the purchase of books and other library materials for the library. The foundation invests the library's funds and makes distributions to the library annually, the amount of which is determined by the foundation's board. Additional distributions may be made to the library by vote of the foundation's board in case of financial emergency or other extreme circumstances. Although the terms of the transfer include granting the foundation variance power, it is presumed that the library has retained the future economic benefits of the transferred assets as prescribed by sfas 136.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0LIBRARY DIRECT.
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IRS990/MissionDesc0THE BENNINGTON FREE LIBRARY PROVIDES MATERIALS AND SERVICES THAT WILL MEET THE EDUCATIONAL, INFORMATIONAL, CULTURAL AND RECREATIONAL NEEDS OF THE COMMUNITY.
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IRS990/ReportOtherAssetsInd0true
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT FUNDS INTENDED USES (PART V, LINE 4)THE LIBRARY BOARD TRANSFERRED FUNDS TO THE VERMONT COMMUNITY FOUNDATION TO ESTABLSIH AN ENDOWMENT FUND FOR THE LIBRARY. THE PURPOSE OF THE ENDOWMENT FUND IS TO PROVIDE FOR THE PURCHASE OF BOOKS AND OTHER LIBRARY MATERIALS FOR THE LIBRARY. THE FOUNDATION INVESTS THE LIBRARY'S FUNDS AND MAKES DISTRIBUTIONS TO THE LIBRARY ANNUALLY, THE AMOUNT OF WHICH IS DETERMINED BY THE FOUNDATION'S BOARD. ADDITIONAL DISTRIBUTIONS MAY BE MADE TO THE LIBRARY BY VOTE OF THE FOUNDATION'S BOARD IN CASE OF FINANCIAL EMERGENCY OR OTHER EXTREME CIRCUMSTANCES. ALTHOUGH THE TERMS OF THE TRANSFER INCLUDE GRANTING THE FOUNDATION VARIANCE POWER, IT IS PRESUMED THAT THE LIBRARY HAS RETAINED THE FUTURE ECONOMIC BENEFITS OF THE TRANSFERRED ASSETS AS PRESCRIBED BY SFAS 136.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4: Intended uses of the endowment fund.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0INSURANCE
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LIBRARY DIRECTOR EMAILS A COPY OF THE FINAL VERSION OF FORM 990 TO EACH BOARD MEMBER BEFORE IT IS FILED. IT IS NOT KNOWN IF BOARD MEMBERS REVIEW THE FORMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EMPLOYEES SHALL INFORM THE DIRECTOR AND THAT THE DIRECTOR OR MEMBERS OF THE BOARD OF DIRECTORS SHALL INFORM THE BOARD CHAIRMAN OF POSSIBLE CONFLICTS OF INTEREST IN PURCHASING, HIRING, OR PROVISION OF SERVICES SO THAT CONFLICTS OF INTEREST MAY BE RESOLVED OR REMOVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD SETS UP A PERSONNEL COMMITTEE INDEPENDENT OF THE LIBRARY DIRECTOR. THE PERSONNEL COMMITTEE ANNUALLY REVIEWS THE PERFORMANCE OF THE LIBRARY DIRECTOR. A WRITTEN EVALUATION OF THE DIRECTOR'S PERFORMANCE IS DRAWN UP BY THE COMMITTEE. THE DIRECTOR WILL RECEIVE A RAISE THAT IS THE SAME RATE INCREASE SET BY THE BOARD FOR ALL EMPLOYEES OF THE LIBRARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE LIBRARY MAKES AVAILABLE ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND TAX RETURNS TO THE PUBLIC UPON WRITTEN REQUEST. THE LIBRARY PROVIDES FINANCIAL STATEMENTS TO THE TOWN OF BENNINGTON SELECT BOARD ON A QUARTERLY BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CHNG IN INT HELD BY VT COMMTY FD = $26073
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.00$1.37$0.84$0.75$0.10
2024Detailed filing. Detailed filing data is available for this year.$1.23$0.00$1.23$0.80$0.75$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.13$0.75$0.80$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.14$0.01$1.13$0.68$0.62$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$0.01$1.20$0.74$0.62$0.11
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.10$0.97$0.62$0.58$0.05
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.03$0.92$0.65$0.71$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.02$0.98$0.66$0.52$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$0.03$0.82$0.59$0.61$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.83$0.04$0.79$0.59$0.52$0.08
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$0.03$0.73$0.50$0.55$0.05
2014Summary only. Only limited summary data is available for this year.$0.81$0.03$0.79$0.50$0.48$0.02
2013Summary only. Only limited summary data is available for this year.$0.73$0.02$0.71$0.50$0.50$0.00
2012Summary only. Only limited summary data is available for this year.$0.70$0.02$0.69$0.57$0.51$0.06
2011Summary only. Only limited summary data is available for this year.$0.64$0.01$0.63$0.49$0.45$0.04
Peer Organizations

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