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Proctor Free Library

Tax-deductible

Proctor, VT501(c)(3)Since 1881Education EIN 03-0179597Revenue $149K in FY2025

On file with the IRSproctorfreelibrary.wordpress.com4 Main St, 05765-1111 · Proctor, VTTax-exempt since Nov 1934Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Library is to enrich the lives of the residents of the town of Proctor by providing books and other materials which they can borrow and by sponsoring activities which encourage reading and learning. Also the Library provides computers.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $18K a year · 13% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Plus $988K in investments, Pt X · Ln 11–13
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$149K
+121% vs prior year
Spent
$132K
To programs
91%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$149K
FY2025▲ +121%
Tap a bar for its year
Revenue by fiscal year
FY2020$91K
FY2021$250K
FY2023$112K
FY2024$67K
FY2025$149K
Expenses
$132K
FY2025▲ +58%
Tap a bar for its year
Expenses by fiscal year
FY2020$127K
FY2021$111K
FY2023$126K
FY2024$83K
FY2025$132K
Net assets
$1.1M
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$949K
FY2021$1.2M
FY2023$994K
FY2024$1.1M
FY2025$1.1M

From the FY2025 Form 990 (year ending June 2025) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1934.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $120K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Mary Fregosi
President
$0Pt VII · Sec A
Shannon Maass
Vice President
$0Pt VII · Sec A
Tracey Snow
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Proctor Free Library executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides books, internet, and activities to enrich community life.

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1 program · in their own filed words · FY2024
01

The mission of the library is to enrich the lives of the residents of the town of proctor. Providing books and other materials they can borrow and by sponsoring activites that promote reading and learning.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Mortimer R Proctor FoundationFY2024$15K
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$149K
Ln 12
Gifts and grantsLn 1h$149K
Investment incomeLn 3$6
Money outPt IX
$132K
Ln 25
Programscol B$120K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$89K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$149K
Government grantsLn 1e$69K
Investment incomeLn 3$6
Total revenueLn 12$149K
Assets in detailPt X, end of year
CashLn 1$89K
Cash and savings togetherLn 1–2$89K
InvestmentsLn 11–13$988K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 55
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$39K$89K
InvestmentsLn 11–13$1.0M$988K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.1M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$74K$74K
Payroll taxesLn 10$5K$5K
Office expensesLn 13$5K$5K
OccupancyLn 16$37K$37K
Other expenses (24a–d)Ln 24$12K
Total functional expensesLn 25$132K$120K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $149K$132K$17K$1.1M 990 PDF
FY2024 $67K$83K−$16K$1.1M 990 PDF
FY2023 $112K$126K−$14K$994K 990 PDF
FY2022 Not on file
FY2021 $250K$111K$138K$1.2M 990 PDF
FY2020 $91K$127K−$36K$949K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $148,674 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $67,412$148,668
I-9 Program service revenue$0
I-10 Investment income$6
I-11 Other revenue$0
I-12 Total revenuePrior year $67,412$148,674
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $47,935$78,927
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $35,424$52,895
I-18 Total expensesPrior year $83,359$131,822
I-19 Revenue less expensesPrior year −$15,947$16,852
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $148,674 across 5 lines filed
VIII-1e Government grants$69,000
VIII-1f All other contributions, gifts and grants$39,764
VIII-1h Total contributions, gifts and grants$148,668
VIII-3 Investment incomeExcluded from tax $6$6
VIII-12 Total revenueExcluded from tax $6$148,674
Part IX · Statement of functional expenses $131,822 across 5 lines filed
IX-7 Other salaries and wagesPrograms $73,753$73,753
IX-10 Payroll taxesPrograms $5,174$5,174
IX-13 Office expensesPrograms $4,555$4,555
IX-16 OccupancyPrograms $36,583$36,583
IX-24 Other expenses (24a–d)$11,757
IX-25 Total functional expensesPrograms $120,065 · Management $0 · Fundraising $0$131,822
Part X · Balance sheet $1,077,444 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $38,774$89,094
X-11 Publicly traded securitiesStart of year $1,021,818$988,350
X-16 Total assetsStart of year $1,060,592$1,077,444
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,060,592$1,077,444
X-33 Total liabilities and net assetsStart of year $1,060,592$1,077,444
Part XI · Reconciliation of net assets $1,077,444 net assets at year end
XI-1 Total revenue$148,674
XI-2 Total expenses$131,822
XI-3 Revenue less expenses$16,852
XI-4 Net assets at start of year$1,060,592
XI-10 Net assets at end of year$1,077,444

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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