Civic Intelligence

Oliver Wolcott Library Inc.

990 • Fiscal year 2017 • EIN 06-0709304

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 08, 2017

PO Box 187Litchfield, CT 06759

(860) 567-8030

Siviq Scores

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

Liabilities / Assets

24th percentile

0.01x

Higher debt load relative to assets than 24% of similar nonprofits.

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

Liabilities / Revenue

31st percentile

0.03x

Higher debt load relative to revenue than 31% of similar nonprofits.

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

Net Margin

37th percentile

-0.7%

Higher net margin than 37% of similar nonprofits.

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

Top Officer Pay

71st percentile

$105,592

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

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

Asset Growth

64th percentile

8.3%

Faster asset growth than 64% of similar nonprofits.

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

Revenue Growth

55th percentile

6.8%

Faster revenue growth than 55% of similar nonprofits.

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

Assets

Up

$4,202,948

Up $321,018 (+8.3%) from 2016

Net Assets

Up

$4,173,804

Up $304,424 (+7.9%) from 2016

Liabilities

Up

$29,144

Up $16,594 (+132%) from 2016

Revenue

Up

$903,491

Up $57,287 (+6.8%) from 2016

Expenses

Up

$909,659

Up $59,931 (+7.1%) from 2016

Net Income

Down

-$6,168

Down $2,644 (-75%) from 2016

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $3,173,298Liabilities 2011: $23,946Net Assets 2011: $3,149,3522011Assets 2012: $3,219,675Liabilities 2012: $24,324Net Assets 2012: $3,195,3512012Assets 2013: $3,386,725Liabilities 2013: $16,872Net Assets 2013: $3,369,8532013Assets 2014: $3,961,320Liabilities 2014: $18,623Net Assets 2014: $3,942,6972014Assets 2015: $3,913,362Liabilities 2015: $12,610Net Assets 2015: $3,900,7522015Assets 2016: $3,881,930Liabilities 2016: $12,550Net Assets 2016: $3,869,3802016Assets 2017: $4,202,948Liabilities 2017: $29,144Net Assets 2017: $4,173,8042017Assets 2018: $4,266,388Liabilities 2018: $23,102Net Assets 2018: $4,243,2862018Assets 2019: $4,337,550Liabilities 2019: $22,308Net Assets 2019: $4,315,2422019Assets 2020: $4,565,555Liabilities 2020: $134,995Net Assets 2020: $4,430,5602020Assets 2021: $5,440,177Liabilities 2021: $41,349Net Assets 2021: $5,398,8282021Assets 2022: $4,793,570Liabilities 2022: $35,222Net Assets 2022: $4,758,3482022Assets 2023: $5,010,835Liabilities 2023: $87,989Net Assets 2023: $4,922,8462023Assets 2024: $5,294,931Liabilities 2024: $45,108Net Assets 2024: $5,249,8232024

Highlighted filing

2017

Assets$4,202,948
Liabilities$29,144
Net Assets$4,173,804

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $744,2012011Expenses 2012: $767,7012012Revenue 2013: $715,694Expenses 2013: $750,137Net Income 2013: -$34,4432013Revenue 2014: $1,016,748Expenses 2014: $783,017Net Income 2014: $233,7312014Revenue 2015: $1,745,959Expenses 2015: $810,372Net Income 2015: $935,5872015Revenue 2016: $846,204Expenses 2016: $849,728Net Income 2016: -$3,5242016Revenue 2017: $903,491Expenses 2017: $909,659Net Income 2017: -$6,1682017Revenue 2018: $1,328,119Expenses 2018: $948,653Net Income 2018: $379,4662018Revenue 2019: $824,676Expenses 2019: $921,784Net Income 2019: -$97,1082019Revenue 2020: $936,755Expenses 2020: $898,364Net Income 2020: $38,3912020Revenue 2021: $1,062,685Expenses 2021: $859,236Net Income 2021: $203,4492021Revenue 2022: $1,083,636Expenses 2022: $908,240Net Income 2022: $175,3962022Revenue 2023: $977,483Expenses 2023: $1,069,827Net Income 2023: -$92,3442023Revenue 2024: $1,020,961Expenses 2024: $1,044,113Net Income 2024: -$23,1522024

Highlighted filing

2017

Revenue$903,491
Expenses$909,659
Net Income-$6,168
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 8, 2017
Return Version
2016v3.0
Gross Receipts
$1,252,208
Mission and Program Overview

Mission

To provide facilities, materials, services and programs that foster lifelong learning and a welcoming environment for community interaction, enhanced by staff dedicated to this vision and possessed of compassion, a cooperative spirit and strong communication and interpersonal skills.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,482,088$3,712,366▲ $230,278
Land, Buildings, and Equipment, Net$273,446$325,782▲ $52,336
Savings and Temporary Cash Investments$124,396$164,510▲ $40,114
Accounts Receivable$1,710--
Cash and Non-Interest-Bearing Accounts$290$290→ $0
Total Assets$3,881,930$4,202,948▲ $321,018
Liabilities
Accounts Payable and Accrued Expenses$12,050$20,175▲ $8,125
Deferred Revenue$500$8,969▲ $8,469
Total Liabilities$12,550$29,144▲ $16,594
Net Assets / Fund Balance
Unrestricted Net Assets$3,613,680$3,885,238▲ $271,558
Permanently Rstr Net Assets$169,302$180,244▲ $10,942
Temporarily Rstr Net Assets$86,398$108,322▲ $21,924
Total Net Assets Fund Balance$3,869,380$4,173,804▲ $304,424
Total Liabilities and Net Assets / Fund Balance$3,881,930$4,202,948▲ $321,018

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$311,915$760,360$1,072,275
Other Land Buildings$9,867$235,219$245,086
Land$4,000-$4,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ann Marie WhiteLibrary DireFT$105,592$105,592

Board Members and Trustees

NameTitle
Emily DaltonPresident
Cara BlazierDirector
Carole GibneyDirector
Colette BoydDirector
Dan KrautDirector
Egils Bogdanovics MdDirector
John MorosaniDirector
Kyra HartnettDirector
Todd JohnsonDirector
Maura MaloSecretary
Philip MillerTreasurer
Susan PasquarielloVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$730,385
Program Service Revenue
$3,918
Investment Income
$97,644
Other Revenue
$71,544
All Other Contributions
$497,273
Change in Net Assets
$-6,168

Audited Revenue Reconciliation

Revenue per Audited Statements
$903,491
Revenue Not Reported on Form 990
$310,592
Total Revenue per Audited Statements
$1,214,083
Total Revenue per Form 990
$903,491
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$521,163
Other Expenses$388,496
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$403,334$16,038-$419,372
Occupancy$98,306--$98,306
Information Technology$67,752--$67,752
Other Employee Benefits$38,831$6,852-$45,683
Payroll Taxes$34,782$1,226-$36,008
Depreciation Depletion$32,060--$32,060
All Other Expenses$24,442--$24,442
Pension Plan Contributions$17,085$3,015-$20,100
Fees for Service Investment Mgmnt Fees-$17,285-$17,285
Insurance$14,941--$14,941
Other Expenses$16,122$14,517-$14,517
Advertising$9,776--$9,776
Office Expenses$9,643--$9,643
Fees for Services Accounting-$6,928-$6,928
Fees for Services Other-$1,579-$1,579
Conferences and Meetings-$506-$506
Travel$429--$429
Total Functional Expenses$841,713$67,946$0$909,659

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$909,659
Total Expenses per Audited Statements$909,659
Total Expenses per Form 990$909,659
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$158,295
Fundraising Direct Expenses$86,751
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Festival of Tre$237,010$154,980$51,452$103,528
Annual Appeal$106,841-$22,384-
Total Events$343,851$154,980$86,751$68,229
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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

The independent certified public accountant for the oliver wolcott library prepares the annual form 990 on behalf of the organization. A copy of the completed form 990 is provided to the board treasurer for review and subsequently discussed during the board of trustees meeting before it is filed with the internal revenue service on an annual basis.

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

Each year, the organization requires the board members to read and sign the conflict of interest policy document. The signed document is then retained in a file at the library.

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

Pursuant to the requirements of the oliver wolcott library, the board of trustees utilized the following method to review the library director performance and to establish a salary level: 1. The library director reports on the accomplishments of goals set in the beginning of the fiscal year. 2. The library director prepares for the executive committee goals for the new fiscal year. 3. The executive committee discusses the library director's job performance over the past year. 4. The executive committee reviews salary data generated by the connecticut state library for all connecticut full time libraries reporting actual salaries for full time library directors. 5. The executive committee reviews the library director's performance specifically compared to the responsibilities detailed in the library director's job description. 6. Based on these analyses, the executive committee makes a salary recommendation to the full board of trustees. This recommendation is voted during the board meeting.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request. All are retained in a file at the library.

Filing and Contact Details

Filer

Filer Name
Oliver Wolcott Library Inc
EIN
06-0709304
Phone
8605678030
Address
PO BOX 187, LITCHFIELD, CT 06759

Signing Officer

Name
Philip Miller
Title
Treasurer
Phone
8605678030
Signed
2017-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Philip Miller
Formed
1862
Legal Domicile
Ct
Voting Board Members
12
Independent Board Members
12
Employees
26
Volunteers
65

Preparer

Firm
Budwitz & Meyerjack Pc
Address
322 MAIN ST, FARMINGTON, CT 06032
Preparer
Jessica Siperas CPA
Phone
8606774697
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To provide facilities, materials, services and programs that foster lifelong learning and a welcoming environment for community interaction, enhanced by staff dedicated to this vision and possessed of compassion, a cooperative spirit and strong communication and interpersonal skills.

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IRS990/OfficeExpensesGrp/TotalAmt09643
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IRS990/OtherExpensesGrp/Desc0BOOKS & DATABASES
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IRS990/OtherExpensesGrp/ProgramServicesAmt117693
IRS990/OtherExpensesGrp/ProgramServicesAmt216122
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IRS990/OtherExpensesGrp/TotalAmt314517
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt016038
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0403334
IRS990/OtherSalariesAndWagesGrp/TotalAmt0419372
IRS990/OtherWebsiteInd0X
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01226
IRS990/PayrollTaxesGrp/ProgramServicesAmt034782
IRS990/PayrollTaxesGrp/TotalAmt036008
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03015
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt017085
IRS990/PensionPlanContributionsGrp/TotalAmt020100
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0169302
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0180244
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0PHILIP MILLER
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2248
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3100
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2248
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IRS990/PYContributionsGrantsAmt0668218
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IRS990/PYInvestmentIncomeAmt077871
IRS990/PYOtherExpensesAmt0349795
IRS990/PYOtherRevenueAmt096074
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IRS990/PYTotalExpensesAmt0849728
IRS990/PYTotalRevenueAmt0846204
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-6168
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0124396
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0164510
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt075359
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt03918
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt075359
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0365381
IRS990ScheduleA/InvestmentIncomeCYPct00.11000
IRS990ScheduleA/InvestmentIncomePYPct00.11000
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IRS990ScheduleA/PublicSupportCY509Pct00.88950
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0423451
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03306797
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0311915
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0760360
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01072275
IRS990ScheduleD/DisclosedForCharitablePrpsInd0true
IRS990ScheduleD/DisclosedOrgLegCtrlInd0true
IRS990ScheduleD/DonorAdvisedFundsContriAmt0126875
IRS990ScheduleD/DonorAdvisedFundsHeldCnt05
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt0108322
IRS990ScheduleD/ExpensesSubtotalAmt0909659
IRS990ScheduleD/LandGrp/BookValueAmt04000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04000
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0310592
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09867
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0235219
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0245086
IRS990ScheduleD/RevenueNotReportedAmt0310592
IRS990ScheduleD/RevenueSubtotalAmt0903491
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0325782
IRS990ScheduleD/TotalExpensesPerForm990Amt0909659
IRS990ScheduleD/TotalRevenuePerForm990Amt0903491
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01214083
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0909659
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt0106841
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FESTIVAL OF TRE
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ANNUAL APPEAL
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IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt07673
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0237010

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.29$0.05$5.25$1.02$1.04$0.02
2023Detailed filing. Detailed filing data is available for this year.$5.01$0.09$4.92$0.98$1.07$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.79$0.04$4.76$1.08$0.91$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.44$0.04$5.40$1.06$0.86$0.20
2020Detailed filing. Detailed filing data is available for this year.$4.57$0.13$4.43$0.94$0.90$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.34$0.02$4.32$0.82$0.92$0.10
2018Detailed filing. Detailed filing data is available for this year.$4.27$0.02$4.24$1.33$0.95$0.38
2017Detailed filing. Detailed filing data is available for this year.$4.20$0.03$4.17$0.90$0.91$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.88$0.01$3.87$0.85$0.85$0.00
2015Detailed filing. Detailed filing data is available for this year.$3.91$0.01$3.90$1.75$0.81$0.94
2014Detailed filing. Detailed filing data is available for this year.$3.96$0.02$3.94$1.02$0.78$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$0.02$3.37$0.72$0.75$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.22$0.02$3.20$0.77
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.17$0.02$3.15$0.74