Civic Intelligence

Kennett Library

990 • Fiscal year 2023 • EIN 23-1547585

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 15, 2024

Organization ProfileWWW.KENNETTLIBRARY.ORG
320 E State StreetKennett Square, PA 19348

(610) 444-2702

Siviq Scores

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

Liabilities / Assets

60th percentile

0.28x

Higher debt load relative to assets than 60% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

1.32x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

94th percentile

65%

Higher net margin than 94% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

90th percentile

48%

Faster asset growth than 90% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

72nd percentile

20%

Faster revenue growth than 72% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets60th percentile

Assets

Flat

$22,994,869

Flat from 2023

Net Assets

Flat

$16,594,392

Flat from 2023

Liabilities

Flat

$6,400,477

Flat from 2023

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin94th percentile

Revenue

Flat

$4,840,483

Flat from 2023

Expenses

Flat

$1,699,551

Flat from 2023

Net Income

Flat

$3,140,932

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$30M$20M$10M$0Assets 2010: $3,594,025Liabilities 2010: $0Net Assets 2010: $3,594,0252010Assets 2011: $3,757,975Liabilities 2011: $0Net Assets 2011: $3,757,9752011Assets 2012: $3,889,988Liabilities 2012: $0Net Assets 2012: $3,889,9882012Assets 2013: $3,934,598Liabilities 2013: $0Net Assets 2013: $3,934,5982013Assets 2014: $4,012,469Liabilities 2014: $0Net Assets 2014: $4,012,4692014Assets 2015: $3,901,619Liabilities 2015: $0Net Assets 2015: $3,901,6192015Assets 2016: $3,998,891Liabilities 2016: $0Net Assets 2016: $3,998,8912016Assets 2017: $4,483,474Liabilities 2017: $0Net Assets 2017: $4,483,4742017Assets 2018: $4,391,108Liabilities 2018: $0Net Assets 2018: $4,391,1082018Assets 2019: $5,971,308Liabilities 2019: $0Net Assets 2019: $5,971,3082019Assets 2020: $7,304,593Liabilities 2020: $2,297Net Assets 2020: $7,302,2962020Assets 2021: $11,133,074Liabilities 2021: $4,311Net Assets 2021: $11,128,7632021Assets 2022: $15,578,743Liabilities 2022: $2,003,619Net Assets 2022: $13,575,1242022Assets 2023: $22,994,869Liabilities 2023: $6,400,477Net Assets 2023: $16,594,3922023Assets 2023: $22,994,869Liabilities 2023: $6,400,477Net Assets 2023: $16,594,3922023Assets 2024: $22,000,520Liabilities 2024: $1,399,600Net Assets 2024: $20,600,9202024

Highlighted filing

2023

Assets$22,994,869
Liabilities$6,400,477
Net Assets$16,594,392
Open 2023 Filing

Operations Trend

Revenue Growth72nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2010: $1,038,464Expenses 2010: $823,815Net Income 2010: $214,6492010Revenue 2011: $940,384Expenses 2011: $776,434Net Income 2011: $163,9502011Revenue 2012: $908,268Expenses 2012: $844,921Net Income 2012: $63,3472012Revenue 2013: $879,372Expenses 2013: $804,510Net Income 2013: $74,8622013Revenue 2014: $858,249Expenses 2014: $818,495Net Income 2014: $39,7542014Revenue 2015: $929,044Expenses 2015: $926,187Net Income 2015: $2,8572015Revenue 2016: $928,061Expenses 2016: $901,390Net Income 2016: $26,6712016Revenue 2017: $1,287,199Expenses 2017: $904,864Net Income 2017: $382,3352017Revenue 2018: $1,526,886Expenses 2018: $1,035,386Net Income 2018: $491,5002018Revenue 2019: $2,489,273Expenses 2019: $1,131,249Net Income 2019: $1,358,0242019Revenue 2020: $2,120,153Expenses 2020: $1,048,963Net Income 2020: $1,071,1902020Revenue 2021: $4,479,180Expenses 2021: $1,022,098Net Income 2021: $3,457,0822021Revenue 2022: $4,046,003Expenses 2022: $1,080,737Net Income 2022: $2,965,2662022Revenue 2023: $4,840,483Expenses 2023: $1,699,551Net Income 2023: $3,140,9322023Revenue 2023: $4,840,483Expenses 2023: $1,699,551Net Income 2023: $3,140,9322023Revenue 2024: $6,767,254Expenses 2024: $2,685,940Net Income 2024: $4,081,3142024

Highlighted filing

2023

Revenue$4,840,483
Expenses$1,699,551
Net Income$3,140,932
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 15, 2024
Return Version
2023v5.0
Gross Receipts
$7,257,647
Mission and Program Overview

Mission

The mission of the kennett library is to provide library services to its established service area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,923,256$19,614,691▲ $7,691,435
Other Notes and Loans Receivable, Net-$2,000,000-
Investments in Publicly Traded Securities$2,667,983$899,830▼ $1,768,153
Savings and Temporary Cash Investments$764,461$394,233▼ $370,228
Cash and Non-Interest-Bearing Accounts$169,668$32,740▼ $136,928
Total Assets$15,578,743$22,994,869▲ $7,416,126
Other Assets Total$53,375$53,375→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,000,000$4,390,795▲ $2,390,795
Unsecured Notes Loans Payable-$2,000,000-
Accounts Payable and Accrued Expenses$3,619$9,682▲ $6,063
Total Liabilities$2,003,619$6,400,477▲ $4,396,858
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,881,147$16,344,419▲ $3,463,272
Net Assets With Donor Restrictions$693,977$249,973▼ $444,004
Total Net Assets Fund Balance$13,575,124$16,594,392▲ $3,019,268
Total Liabilities and Net Assets / Fund Balance$15,578,743$22,994,869▲ $7,416,126

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,509,877$302,966$18,812,843
Land$820,155-$820,155
Other Land Buildings$170,182$56,684$226,866
Equipment$114,477$100,758$215,235

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$329,698-▲ $50,302-$377,987
2022$387,274-▼ $56,531-$329,698
2021$339,291-▲ $49,057-$387,274
2020$290,127-▲ $49,617-$339,291
2019$274,116-▲ $16,011-$290,127
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Bradley PeiperPresident
Barbara BoltonTrustee
Claire MurrayTrustee
Collis O TownsendTrustee
Daniel GannonTrustee
Dr Barbara ForneyTrustee
Dr Brenda MercomesTrustee
Dr Corinne SweeneyTrustee
Dr William MajarianTrustee
Leah ReynoldsTrustee
Lenda CarrilloTrustee
Margaret EgliTrustee
Pattie Morgan MillerTrustee
Todd BruceTrustee
Barbara NecarsulmerSecretary
Lee SausenTreasurer
Dr Loren PearsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$3,390,146
Program Service Revenue
$39,346
Investment Income
$1,375,351
Other Revenue
$35,640
All Other Contributions
$2,612,087
Change in Net Assets
$3,140,932

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
Securities Publicly Traded1$200,945Average Share Price
Total Noncash Contributions1$200,945-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$988,806
Other Expenses$710,745
Total Fundraising Expense$180,009
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$625,345$29,926$34,488$689,759
Depreciation Depletion$198,848$23,394$11,697$233,939
Other Employee Benefits$100,085$5,560$5,560$111,205
Occupancy$94,221$5,121$3,076$102,418
Current Officers, Directors, Trustees, and Key Employees$77,564$9,125$4,563$91,252
Fees for Services Other--$71,168$71,168
Payroll Taxes$57,537$3,197$3,197$63,931
All Other Expenses$13,751$19,031$14,961$47,743
Pension Plan Contributions$29,393$1,633$1,633$32,659
Other Expenses$27,116$1,506$21,869$21,869
Fees for Services Accounting-$10,303-$10,303
Office Expenses$1,332$333$5,814$7,479
Insurance$5,652$298-$5,950
Conferences and Meetings-$1,629-$1,629
Advertising$84-$477$561
Travel$4$175-$179
Total Functional Expenses$1,408,311$111,231$180,009$1,699,551
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$49,080
Fundraising Direct Expenses$13,440
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Kennett Arts Fe$29,955$29,955$10,082$19,873
Friends Raffle$19,125$19,125$3,358$15,767
Total Events$49,080$49,080$13,440$35,640
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
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The executive committee of the board of trustees reviews form 990 before it is filed.”

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

“Annually the board is asked to disclose conflicts of interest that could give rise to a conflict.”

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

“The library director's salary is determined and approved by the board of trustees annually.”

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

“The library staff salaries are determined and approved by the board of trustees annually.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Kennett Library
EIN
23-1547585
Phone
6104442702
Address
320 E STATE STREET, KENNETT SQUARE, PA 19348

Signing Officer

Name
Lee Sausen
Title
Treasurer
Phone
6104442702
Signed
2024-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bradley Peiper
Formed
1895
Legal Domicile
Pa
Voting Board Members
17
Independent Board Members
17
Employees
39
Volunteers
135

Preparer

Firm
Umbreit Wileczek & Associates Pc
Address
712 E BALTIMORE PIKE, KENNETT SQUARE, PA 19348
Preparer
Kathleen a Wileczek CPA
Phone
6104443222
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Kennett library is a regional public library open to all and serving the townships of kennett, east marlborough, pennsbury, pocopson, newlin, new garden, west marlborough and the borough of kennett square. We provide a place for the youngest to the oldest and everyone in between and serve people of all incomes, ages, and needs - for free. Kennett library's mission is to ignite imagination, enrich lives, and create community with a vision to be the catalyst for a community of lifelong learning and discovery. We connect people with reading, information and technology to expand curiosity, explore interests, and discover passions. We provide a friendly, helpful, stimulating environment that is built on free access to library resources and the exchange of information. We are a place to meet, a place to learn, to teach, to share, to connect, a place to build, to expand horizons. We offer free in-person and virtual programs for children, teens, and adults. Programs include esl classes, art workshops, family storytime, nature camp, book groups, webinars, author talks, and more.”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“The library's permanently restricted endowment funds are permanently restricted, with the income from the endowment available for operating expenses. The board restricted funds are for investment and operations. The temporarily restricted funds are held for a new library structure.”

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,994,869
Liabilities
$6,400,477
Net assets
$16,594,392
Revenue
$4,840,483
Expenses
$1,699,551
Net income
$3,140,932
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.0$1.40$20.6$6.77$2.69$4.08
2023Detailed filing. Detailed filing data is available for this year.$23.0$6.40$16.6$4.84$1.70$3.14
2023Summary only. Only limited summary data is available for this year.$23.0$6.40$16.6$4.84$1.70$3.14
2022Summary only. Only limited summary data is available for this year.$15.6$2.00$13.6$4.05$1.08$2.97
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.1$0.00$11.1$4.48$1.02$3.46
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.30$0.00$7.30$2.12$1.05$1.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.97$0.00$5.97$2.49$1.13$1.36
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.39$0.00$4.39$1.53$1.04$0.49
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.48$0.00$4.48$1.29$0.90$0.38
2016Summary only. Only limited summary data is available for this year.$4.00$0.00$4.00$0.93$0.90$0.03
2015Summary only. Only limited summary data is available for this year.$3.90$0.00$3.90$0.93$0.93$0.00
2014Summary only. Only limited summary data is available for this year.$4.01$0.00$4.01$0.86$0.82$0.04
2013Summary only. Only limited summary data is available for this year.$3.93$0.00$3.93$0.88$0.80$0.07
2012Summary only. Only limited summary data is available for this year.$3.89$0.00$3.89$0.91$0.84$0.06
2011Summary only. Only limited summary data is available for this year.$3.76$0.00$3.76$0.94$0.78$0.16
2010Summary only. Only limited summary data is available for this year.$3.59$0.00$3.59$1.04$0.82$0.21