Civic Intelligence

Stonington Free Library Association

990 • Fiscal year 2017 • EIN 06-0665194

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 23, 2018

PO Box 232Stonington, CT 06378

(860) 535-0658

Siviq Scores

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

Liabilities / Assets

26th percentile

0.01x

Higher debt load relative to assets than 26% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

42nd percentile

0.07x

Higher debt load relative to revenue than 42% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

47th percentile

2.2%

Faster asset growth than 47% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

3rd percentile

-62%

Faster revenue growth than 3% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$3,847,967

Up $82,941 (+2.2%) from 2016

Net Assets

Up

$3,811,305

Up $71,256 (+1.9%) from 2016

Liabilities

Up

$36,662

Up $11,685 (+47%) from 2016

Revenue

Down

$559,669

Down $905,520 (-62%) from 2016

Expenses

Up

$631,183

Up $29,915 (+5.0%) from 2016

Net Income

Down

-$71,514

Down $935,435 (-108%) from 2016

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $2,492,438Liabilities 2011: $16,127Net Assets 2011: $2,476,3112011Assets 2012: $2,489,441Liabilities 2012: $10,985Net Assets 2012: $2,478,4562012Assets 2013: $2,623,682Liabilities 2013: $17,614Net Assets 2013: $2,606,0682013Assets 2014: $2,897,653Liabilities 2014: $20,687Net Assets 2014: $2,876,9662014Assets 2015: $2,823,693Liabilities 2015: $44,714Net Assets 2015: $2,778,9792015Assets 2016: $3,765,026Liabilities 2016: $24,977Net Assets 2016: $3,740,0492016Assets 2017: $3,847,967Liabilities 2017: $36,662Net Assets 2017: $3,811,3052017Assets 2018: $4,110,588Liabilities 2018: $33,900Net Assets 2018: $4,076,6882018Assets 2019: $5,233,273Liabilities 2019: $39,004Net Assets 2019: $5,194,2692019Assets 2020: $5,742,346Liabilities 2020: $127,168Net Assets 2020: $5,615,1782020Assets 2021: $7,071,494Liabilities 2021: $128,792Net Assets 2021: $6,942,7022021Assets 2022: $6,357,274Liabilities 2022: $49,771Net Assets 2022: $6,307,5032022Assets 2023: $6,620,077Liabilities 2023: $31,764Net Assets 2023: $6,588,3132023Assets 2024: $7,184,708Liabilities 2024: $69,397Net Assets 2024: $7,115,3112024Assets 2025: $7,633,793Liabilities 2025: $41,286Net Assets 2025: $7,592,5072025

Highlighted filing

2017

Assets$3,847,967
Liabilities$36,662
Net Assets$3,811,305

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $672,804Expenses 2011: $411,644Net Income 2011: $261,1602011Revenue 2012: $412,088Expenses 2012: $428,974Net Income 2012: -$16,8862012Revenue 2013: $442,899Expenses 2013: $439,148Net Income 2013: $3,7512013Revenue 2014: $518,524Expenses 2014: $474,322Net Income 2014: $44,2022014Revenue 2015: $470,875Expenses 2015: $554,178Net Income 2015: -$83,3032015Revenue 2016: $1,465,189Expenses 2016: $601,268Net Income 2016: $863,9212016Revenue 2017: $559,669Expenses 2017: $631,183Net Income 2017: -$71,5142017Revenue 2018: $919,619Expenses 2018: $601,635Net Income 2018: $317,9842018Revenue 2019: $1,583,235Expenses 2019: $594,530Net Income 2019: $988,7052019Revenue 2020: $1,380,391Expenses 2020: $565,278Net Income 2020: $815,1132020Revenue 2021: $1,045,315Expenses 2021: $642,719Net Income 2021: $402,5962021Revenue 2022: $851,245Expenses 2022: $744,654Net Income 2022: $106,5912022Revenue 2023: $663,737Expenses 2023: $741,510Net Income 2023: -$77,7732023Revenue 2024: $890,394Expenses 2024: $852,198Net Income 2024: $38,1962024Revenue 2025: $967,528Expenses 2025: $911,041Net Income 2025: $56,4872025

Highlighted filing

2017

Revenue$559,669
Expenses$631,183
Net Income-$71,514
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 23, 2018
Return Version
2016v3.1
Gross Receipts
$1,248,599
Mission and Program Overview

Mission

The stonington free library, inc's purpose is to enrich lives and build community by bringing information, ideas and people together.

The stonington free library, inc's purpose is to enrich the stonington community with a welcoming place to gather and learn by offering books, programs, and state of the art information resources appropriate for all ages.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,131,042$3,200,703▲ $69,661
Land, Buildings, and Equipment, Net$578,373$546,096▼ $32,277
Cash and Non-Interest-Bearing Accounts$39,558$47,606▲ $8,048
Intangible Assets-$19,800-
Savings and Temporary Cash Investments$4,733$19,776▲ $15,043
Prepaid Expenses and Deferred Charges$11,320$7,986▼ $3,334
Receivable From Disqualified Prsn-$6,000-
Total Assets$3,765,026$3,847,967▲ $82,941
Liabilities
Accounts Payable and Accrued Expenses$24,977$36,662▲ $11,685
Total Liabilities$24,977$36,662▲ $11,685
Net Assets / Fund Balance
Unrestricted Net Assets$3,608,562$3,684,333▲ $75,771
Temporarily Rstr Net Assets$79,078$74,002▼ $5,076
Permanently Rstr Net Assets$52,409$52,970▲ $561
Total Net Assets Fund Balance$3,740,049$3,811,305▲ $71,256
Total Liabilities and Net Assets / Fund Balance$3,765,026$3,847,967▲ $82,941

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$518,489$769,798$1,288,287
Other Land Buildings$2,955$79,357$82,312
Equipment$24,652$43,345$67,997

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$3,021,730-▲ $246,078$171,673$3,096,135
2015$2,031,376$1,001,686▲ $136,668$148,000$3,021,730
2014$2,031,376---$2,031,730
2013$2,031,376---$2,031,730
2012$2,031,376---$2,031,730
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$414,812
Program Service Revenue
$13,661
Investment Income
$131,196
Other Revenue
$0
All Other Contributions
$243,627
Change in Net Assets
$-71,514

Audited Revenue Reconciliation

Revenue per Audited Statements
$536,893
Revenue Not Reported on Financial Statements
$22,776
Revenue Not Reported on Form 990
$142,770
Total Revenue per Audited Statements
$679,663
Total Revenue per Form 990
$559,669
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$351,085
Other Expenses$280,098
Total Fundraising Expense$48,356
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$253,546$23,882$39,087$316,515
Depreciation Depletion$42,202$4,689-$46,891
Payroll Taxes$24,478$2,306$3,774$30,558
Insurance$23,769$2,779-$26,548
Fees for Service Investment Mgmnt Fees-$22,776-$22,776
All Other Expenses$17,436$3,707$947$22,090
Office Expenses$16,451$2,435-$18,886
Other Expenses$6,840$2,551$4,548$13,939
Fees for Services Accounting-$13,833-$13,833
Other Employee Benefits$3,210$802-$4,012
Travel$1,456--$1,456
Total Functional Expenses$489,275$93,552$48,356$631,183

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$631,183
Expenses per Audited Statements$608,407
Total Expenses per Audited Statements$608,407
Expenses Not Reported on Financial Statements$22,776
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$6,000-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A draft is sent to the bookkeeper, director and treasurer. It is reviewed and shared with the board of trustees for approval.

Form 990, Page 6, Part VI, Line 12C

When an affiliation with another organization is revealed, it is monitored by other members if conflicts arise.

Form 990, Page 6, Part VI, Line 15A

The president of the board of trustees with input from the board writes a review of the director's performance and sets goals for the coming year. Compensation is determined through comparisons with library directors' salaries in neighboring libraries.

Form 990, Page 6, Part VI, Line 19

All minutes, policies, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Stonington Free Library Inc
EIN
06-0665194
Phone
8605350658
Address
PO BOX 232, STONINGTON, CT 06378

Signing Officer

Name
Allegra Griffiths
Title
Treasurer
Phone
8605350658
Signed
2018-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nick Kepple
Formed
1888
Legal Domicile
Ct
Voting Board Members
13
Independent Board Members
13
Employees
17
Volunteers
71

Preparer

Firm
Hoyt Filippetti & Malaghan LLC
Address
1041 POQUONNOCK RD, GROTON, CT 06340-4211
Preparer
Susan K Jones
Phone
8605369685
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The stonington free library, inc's purpose is to enrich the stonington community with a welcoming place to gather and learn by offering books, programs, and state of the art information resources appropriate for all ages.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is exempt from federal and state income taxes on exempt function income as a public charity under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been made in the accompanying financial statements. The organization did not recognize any liability for uncertain tax positions as defined by accounting principles generally accepted in the united states of america.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON EXEMPT FUNCTION INCOME AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION DID NOT RECOGNIZE ANY LIABILITY FOR UNCERTAIN TAX POSITIONS AS DEFINED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE STONINGTON FREE LIBRARY, INC'S PURPOSE IS TO ENRICH THE STONINGTON COMMUNITY WITH A WELCOMING PLACE TO GATHER AND LEARN BY OFFERING BOOKS, PROGRAMS, AND STATE OF THE ART INFORMATION RESOURCES APPROPRIATE FOR ALL AGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT IS SENT TO THE BOOKKEEPER, DIRECTOR AND TREASURER. IT IS REVIEWED AND SHARED WITH THE BOARD OF TRUSTEES FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WHEN AN AFFILIATION WITH ANOTHER ORGANIZATION IS REVEALED, IT IS MONITORED BY OTHER MEMBERS IF CONFLICTS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT OF THE BOARD OF TRUSTEES WITH INPUT FROM THE BOARD WRITES A REVIEW OF THE DIRECTOR'S PERFORMANCE AND SETS GOALS FOR THE COMING YEAR. COMPENSATION IS DETERMINED THROUGH COMPARISONS WITH LIBRARY DIRECTORS' SALARIES IN NEIGHBORING LIBRARIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL MINUTES, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.63$0.04$7.59$0.97$0.91$0.06
2024Detailed filing. Detailed filing data is available for this year.$7.18$0.07$7.12$0.89$0.85$0.04
2023Detailed filing. Detailed filing data is available for this year.$6.62$0.03$6.59$0.66$0.74$0.08
2022Detailed filing. Detailed filing data is available for this year.$6.36$0.05$6.31$0.85$0.74$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.07$0.13$6.94$1.05$0.64$0.40
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.74$0.13$5.62$1.38$0.57$0.82
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.23$0.04$5.19$1.58$0.59$0.99
2018Detailed filing. Detailed filing data is available for this year.$4.11$0.03$4.08$0.92$0.60$0.32
2017Detailed filing. Detailed filing data is available for this year.$3.85$0.04$3.81$0.56$0.63$0.07
2016Detailed filing. Detailed filing data is available for this year.$3.77$0.02$3.74$1.47$0.60$0.86
2015Detailed filing. Detailed filing data is available for this year.$2.82$0.04$2.78$0.47$0.55$0.08
2014Detailed filing. Detailed filing data is available for this year.$2.90$0.02$2.88$0.52$0.47$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$0.02$2.61$0.44$0.44$0.00
2012Summary only. Only limited summary data is available for this year.$2.49$0.01$2.48$0.41$0.43$0.02
2011Summary only. Only limited summary data is available for this year.$2.49$0.02$2.48$0.67$0.41$0.26