Civic Intelligence

The Greenwich Library

990 • Fiscal year 2016 • EIN 06-6002281

Jul 01, 2015 to Jun 30, 2016 • Filed on May 09, 2017

101 West Putnam AvenueGreenwich, CT 06830

(203) 622-7900

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Higher debt load relative to assets than 4% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

7th percentile

0.03x

Higher debt load relative to revenue than 7% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

16th percentile

-10%

Higher net margin than 16% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Asset Growth

28th percentile

-2.2%

Faster asset growth than 28% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

89th percentile

29%

Faster revenue growth than 89% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Assets

Down

$65,321,047

Down $1,448,920 (-2.2%) from 2015

Net Assets

Down

$65,229,624

Down $1,533,737 (-2.3%) from 2015

Liabilities

Up

$91,423

Up $84,817 (+1284%) from 2015

Revenue

Up

$3,209,349

Up $721,627 (+29%) from 2015

Expenses

Up

$3,537,467

Up $23,707 (+0.7%) from 2015

Net Income

Up

-$328,118

Up $697,920 (+68%) from 2015

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $64,370,870Liabilities 2010: $15,165Net Assets 2010: $64,355,7052010Assets 2011: $67,824,784Liabilities 2011: $11,126Net Assets 2011: $67,813,6582011Assets 2012: $64,508,980Liabilities 2012: $12,583Net Assets 2012: $64,496,3972012Assets 2013: $65,670,517Liabilities 2013: $2,771Net Assets 2013: $65,667,7462013Assets 2014: $70,305,515Liabilities 2014: $19,334Net Assets 2014: $70,286,1812014Assets 2015: $66,769,967Liabilities 2015: $6,606Net Assets 2015: $66,763,3612015Assets 2016: $65,321,047Liabilities 2016: $91,423Net Assets 2016: $65,229,6242016Assets 2017: $68,538,252Liabilities 2017: $10,157Net Assets 2017: $68,528,0952017Assets 2018: $70,853,915Liabilities 2018: $65,832Net Assets 2018: $70,788,0832018Assets 2019: $76,908,156Liabilities 2019: $21,542Net Assets 2019: $76,886,6142019Assets 2020: $78,114,043Liabilities 2020: $1,681,595Net Assets 2020: $76,432,4482020Assets 2021: $86,849,437Liabilities 2021: $110,268Net Assets 2021: $86,739,1692021Assets 2022: $78,553,230Liabilities 2022: $8,294Net Assets 2022: $78,544,9362022Assets 2023: $79,499,422Liabilities 2023: $26,145Net Assets 2023: $79,473,2772023Assets 2024: $87,447,085Liabilities 2024: $41,319Net Assets 2024: $87,405,7662024

Highlighted filing

2016

Assets$65,321,047
Liabilities$91,423
Net Assets$65,229,624

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $3,561,6672010Expenses 2011: $3,453,9722011Expenses 2012: $3,455,2412012Revenue 2013: $1,978,330Expenses 2013: $3,298,471Net Income 2013: -$1,320,1412013Revenue 2014: $3,354,525Expenses 2014: $3,516,086Net Income 2014: -$161,5612014Revenue 2015: $2,487,722Expenses 2015: $3,513,760Net Income 2015: -$1,026,0382015Revenue 2016: $3,209,349Expenses 2016: $3,537,467Net Income 2016: -$328,1182016Revenue 2017: $2,477,395Expenses 2017: $3,542,392Net Income 2017: -$1,064,9972017Revenue 2018: $5,901,766Expenses 2018: $3,705,345Net Income 2018: $2,196,4212018Revenue 2019: $10,799,566Expenses 2019: $3,717,962Net Income 2019: $7,081,6042019Revenue 2020: $4,008,236Expenses 2020: $3,421,614Net Income 2020: $586,6222020Revenue 2021: $8,026,445Expenses 2021: $3,878,433Net Income 2021: $4,148,0122021Revenue 2022: $5,180,636Expenses 2022: $4,570,378Net Income 2022: $610,2582022Revenue 2023: $2,443,538Expenses 2023: $4,441,622Net Income 2023: -$1,998,0842023Revenue 2024: $9,362,546Expenses 2024: $5,017,544Net Income 2024: $4,345,0022024

Highlighted filing

2016

Revenue$3,209,349
Expenses$3,537,467
Net Income-$328,118
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 9, 2017
Return Version
2015v3.0
Gross Receipts
$3,396,200
Mission and Program Overview

Mission

To provide free and convenient access to information and to promote the love of reading and research, the joy of lifelong learning, and encouragement with the arts, sciences and humanity.

The Greenwich Library provides books and other media for the entertainment, education, and research of the citizens of the Town and surrounding areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,233,070$21,191,056▼ $42,014
Investments Other Securities$14,752,123$16,071,981▲ $1,319,858
Savings and Temporary Cash Investments$860,917$423,346▼ $437,571
Pledges and Grants Receivable$70,000$1,034▼ $68,966
Total Assets$66,769,967$65,321,047▼ $1,448,920
Other Assets Total$29,853,857$27,633,630▼ $2,220,227
Liabilities
Accounts Payable and Accrued Expenses$6,106$90,923▲ $84,817
Other Liabilities$500$500→ $0
Total Liabilities$6,606$91,423▲ $84,817
Net Assets / Fund Balance
Unrestricted Net Assets$35,515,532$36,094,117▲ $578,585
Permanently Rstr Net Assets$29,813,974$27,608,149▼ $2,205,825
Temporarily Rstr Net Assets$1,433,855$1,527,358▲ $93,503
Total Net Assets Fund Balance$66,763,361$65,229,624▼ $1,533,737
Total Liabilities and Net Assets / Fund Balance$66,769,967$65,321,047▼ $1,448,920

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,417,890$25,754,030$42,171,920
Land$4,595,894-$4,595,894
Equipment$165,326$3,244,553$3,409,879
Other Land Buildings$11,946$485,251$497,197
Other Assets Org$215,204--
Other Securities$379,036--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$13,426,257$582,801▼ $57,002$31,636$13,920,420
2014$12,917,108$110,427▲ $455,482$56,760$13,426,257
2013$10,338,984$1,340,574▲ $1,715,937$478,387$12,917,108
2012$6,774,009$3,146,172▲ $988,283$569,480$10,338,984
2011$5,938,170$836,711-$872$6,774,009
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,951,915
Program Service Revenue
$40,417
Investment Income
$185,197
Other Revenue
$31,820
All Other Contributions
$2,211,986
Change in Net Assets
$-328,118

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,166,453
Revenue Not Reported on Financial Statements
$42,896
Revenue Not Reported on Form 990
$-1,180,539
Total Revenue per Audited Statements
$1,985,914
Total Revenue per Form 990
$3,209,349
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,266,750
Salaries, Compensation, and Employee Benefits$270,717
Total Fundraising Expense$164,232
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,540,090--$1,540,090
Other Salaries and Wages$3,929$143,403$84,242$231,574
Fees for Services Other$144,658--$144,658
Other Expenses$95,104$2,541$922$95,104
Advertising$50,527-$38,986$89,513
Occupancy$62,473--$62,473
Travel$50,952$3,888-$54,840
Fees for Service Investment Mgmnt Fees-$42,896-$42,896
All Other Expenses$11,499$1,811$14,522$27,832
Fees for Services Accounting-$24,500-$24,500
Office Expenses$10,890$1,136$10,471$22,497
Other Employee Benefits-$12,250$7,916$20,166
Payroll Taxes$703$11,101$7,173$18,977
Fees for Services Legal$450--$450
Total Functional Expenses$3,129,709$243,526$164,232$3,537,467

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,537,467
Total Expenses per Audited Statements$3,519,651
Expenses per Audited Statements$3,494,571
Expenses Not Reported on Financial Statements$42,896
Expenses Not Reported on Form 990$25,080
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$111,906
Fundraising Direct Expenses$88,781
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising dinner$770,675$79,350$25,066$54,284
Book Sales$32,081$32,081$11,054$21,027
Total Events$803,231$111,906$88,781$23,125
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security deposits$500
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, Part VI, Section B, line 11

A copy of the form 990 is distributed via email to the board members for review prior to filing.

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

Each board member signs a conflict of interest statement annually.

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

Town of Greenwich undertakes a performance review of unrepresented managers.

Form 990, Part VI, Section C, line 19

The Foundation makes its Form 990 available on guidestar.org. In addition, the Forms 1023 and 990 as well as the audited financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Greenwich Library
EIN
06-6002281
Phone
2036227900
Address
101 West Putnam Avenue, Greenwich, CT 06830

Signing Officer

Name
Rob Marks
Title
Vice President
Phone
2036227900
Signed
2017-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rob Marks
Formed
1877
Legal Domicile
Ct
Voting Board Members
21
Independent Board Members
21
Employees
4
Volunteers
250

Preparer

Firm
Dylewsky Goldberg & Brenner LLC
Address
30 Oak Street, Stamford, CT 06905
Preparer
Lawrence Goldberg
Phone
2039758830
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Decrease in Peterson Fdn assets -2,205,825. Donated property and equipment 1,318,222.

Form 990, Part XII, Line 2C

The Library has an audit committee that assumes the responsibility for overseeing the audit. This process has not changed from prior years.

Financial Statement Notes

Part III, Line 1A:

None - The organization determined the value of the collections are not significant to the statement of financial position or disclosure.

Part V, Line 4:

The Library is the beneficiary of the Clementine Lockwood Peterson Foundation, established under the will of Clementine Lockwood Peterson. The will requires the Foundation trustees to distribute, at their discretion, principal and income of the Foundation for the general uses and purposes of The Library, with a preference expressed for the operations and programs of the business and recorded music sections of The Library. The investment income of the Grace M. Montague Fund is primarily restricted for projects and programs related to the visually impaired. The income from the Reader's Digest Endowed Book Fund is available for the purchase of books.

Part X, Line 2:

The Library evaluates all significant tax positions as required by accounting principles generally accepted in the United States of America. As of June 30, 2016, The Library does not believe that it has taken any positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year.

Part XI, Line 2D - Other Adjustments:

Decrease in Peterson Foundation assets -2,205,825. Donated property and equipment 1,318,222.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Second Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Member at Large
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IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt19Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
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IRS990/MissionDesc0To provide free and convenient access to information and to promote the love of reading and research, the joy of lifelong learning, and encouragement with the arts, sciences and humanity.
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IRS990/OtherExpensesGrp/ProgramServicesAmt1261143
IRS990/OtherExpensesGrp/ProgramServicesAmt2141200
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IRS990/ProgSrvcAccomActy2Grp/Desc0Friends Organizations: Refers to the organizations "Friends of Greenwich Library," "Friends of Cos Cob Library, and "Friends of Byram Shubert Library." These organizations provide funding and activities for the respective branches of The Library.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0168002
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt040417
IRS990/ProgSrvcAccomActy3Grp/Desc0Other Private Funding:Provides funding for The Library for capital acquisitions, improvements and related depreciation, and other specified projects.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.4$0.04$87.4$9.36$5.02$4.35
2023Detailed filing. Detailed filing data is available for this year.$79.5$0.03$79.5$2.44$4.44$2.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$78.6$0.01$78.5$5.18$4.57$0.61
2021Detailed filing. Detailed filing data is available for this year.$86.8$0.11$86.7$8.03$3.88$4.15
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$78.1$1.68$76.4$4.01$3.42$0.59
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$76.9$0.02$76.9$10.8$3.72$7.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.9$0.07$70.8$5.90$3.71$2.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$68.5$0.01$68.5$2.48$3.54$1.06
2016Detailed filing. Detailed filing data is available for this year.$65.3$0.09$65.2$3.21$3.54$0.33
2015Detailed filing. Detailed filing data is available for this year.$66.8$0.01$66.8$2.49$3.51$1.03
2014Detailed filing. Detailed filing data is available for this year.$70.3$0.02$70.3$3.35$3.52$0.16
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$65.7$0.00$65.7$1.98$3.30$1.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.5$0.01$64.5$3.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$67.8$0.01$67.8$3.45
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.4$0.02$64.4$3.56