Cornwall Library Association INC FY2023 filing

Tax-deductible

Cornwall, CT501(c)(3)Since 2001EIN 06-0669590Revenue $339K in FY2023

On file with the IRScornwalllibrary.orgPo Box 126, 06753-0126 · Cornwall, CTTax-exempt since Jun 1954Publicly supported charity — 170(b)(1)(A)(vi)

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To provide the community with a free public Library

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$54K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $101K a year · 30% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$54K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $53K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$339K
+24% vs prior year
Spent
$260K
To programs
83%
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$339K
FY2023▲ +24%
Tap a bar for its year
Revenue by fiscal year
FY2020$280K
FY2021$248K
FY2022$273K
FY2023$339K
FY2024$544K
FY2024$287K
Expenses
$260K
FY2023▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$206K
FY2021$212K
FY2022$223K
FY2023$260K
FY2024$279K
FY2024$315K
Net assets
$2.3M
FY2023▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$2.3M
FY2022$2.1M
FY2023$2.3M
FY2024$2.7M
FY2024$2.7M

From the FY2023 Form 990 (year ending June 2023) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1954.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $215K Management & general 13% · $34K Fundraising 4% · $11K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $54K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Library Director
$54,211Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Margaret Haske$60,257$57,572$54,211$50,890$50,140$49,070

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Offers the community a free public library.

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Provided by the organization

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1 program · $215K · in their own filed words · FY2022
01

The library provides books, periodicals, research, and cultural services to the town of cornwall, CT. The collection incudes over 46,000 books, books on tape and movies. Computers and internet services are available.

$215Kprogram expense

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 · FY2025
Total grants receivedfrom 1 funder$53K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$339K
Ln 12
Gifts and grantsLn 1h$158K
Investment incomeLn 3$114K
Other incomeLn 4–11$47K
Money outPt IX
$260K
Ln 25
Programscol B$215K
Managementcol C$34K
Fundraisingcol D$11K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$119K
Total assetsLn 16$2.3M
LiabilitiesLn 26$4K
PeoplePt VI, VII
16
listed · VII A
PaidVII A1
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$158K
Government grantsLn 1e$75K
Fees for servicesLn 2g$20K
Investment incomeLn 3$114K
Other incomeLn 4–11$47K
Gains on assetsLn 7$5K
Total revenueLn 12$339K
Assets in detailPt X, end of year
CashLn 1$97K
SavingsLn 2$21K
Cash and savings togetherLn 1–2$119K
InvestmentsLn 11–13$193K
Land, buildings, equipmentLn 10c$927K
Other assetsLn 15$998K
Total assetsLn 16$2.3M
LiabilitiesLn 26$4K
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 512
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$73K$119K
InvestmentsLn 11–13$169K$193K
Land, buildings, equipmentLn 10c$971K$927K
Total assetsLn 16$2.2M$2.3M
LiabilitiesLn 26$6K$4K
Net assetsLn 32$2.1M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$112K$92K$14K$5K
Other employee benefitsLn 9$8K$6K$1K$381
Payroll taxesLn 10$9K$7K$1K$415
Other fees for servicesLn 11g$4K$4K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$6K$3K$2K
Information technologyLn 14$6K$5K$1K
OccupancyLn 16$22K$18K$4K
Depreciation, depletion and amortizationLn 22$50K$48K$3K
InsuranceLn 23$9K$6K$2K
Other expenses (24a–d)Ln 24$30K$30K$604
Total functional expensesLn 25$260K$215K$34K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $544K$279K$266K$2.7M 990 PDF
FY2023 Viewing $339K$260K$78K$2.3M 990 PDF
FY2022 $273K$223K$50K$2.1M 990 PDF
FY2021 $248K$212K$35K$2.3M 990 PDF
FY2020 $280K$206K$74K$2.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $338,668 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $186,889$157,982
I-9 Program service revenuePrior year $11,434$20,174
I-10 Investment incomePrior year $25,077$113,857
I-11 Other revenuePrior year $49,780$46,655
I-12 Total revenuePrior year $273,180$338,668
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $107,218$128,475
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $116,115$131,899
I-18 Total expensesPrior year $223,333$260,374
I-19 Revenue less expensesPrior year $49,847$78,294
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $338,668 across 8 lines filed
VIII-1e Government grants$75,230
VIII-1f All other contributions, gifts and grants$82,752
VIII-1h Total contributions, gifts and grants$157,982
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,174$20,174
VIII-3 Investment incomeRelated to mission $108,625$108,625
VIII-7 Net gain or loss on sales of assetsRelated to mission $5,232$5,232
VIII-8 Net income from fundraising eventsExcluded from tax $46,655$46,655
VIII-12 Total revenueRelated to mission $134,031 · Unrelated business $0 · Excluded from tax $46,655$338,668
Part IX · Statement of functional expenses $260,374 across 11 lines filed
IX-7 Other salaries and wagesPrograms $92,108 · Management $14,468 · Fundraising $5,421$111,997
IX-9 Other employee benefitsPrograms $6,467 · Management $1,016 · Fundraising $381$7,864
IX-10 Payroll taxesPrograms $7,092 · Management $1,107 · Fundraising $415$8,614
IX-11g Other fees for servicesManagement $4,500$4,500
IX-12 Advertising and promotionFundraising $4,569$4,569
IX-13 Office expensesPrograms $3,325 · Management $2,216$5,541
IX-14 Information technologyPrograms $4,578 · Management $1,145$5,723
IX-16 OccupancyPrograms $17,941 · Management $4,484$22,425
IX-22 Depreciation, depletion and amortizationPrograms $47,612 · Management $2,506$50,118
IX-23 InsurancePrograms $6,212 · Management $2,357$8,569
IX-24 Other expenses (24a–d)Programs $29,850 · Management $604$30,454
IX-25 Total functional expensesPrograms $215,185 · Management $34,403 · Fundraising $10,786$260,374
Part X · Balance sheet $2,254,555 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $49,438$97,229
X-2 Savings and temporary cash investmentsStart of year $23,678$21,479
X-4 Accounts receivable$15,230
X-9 Prepaid expenses and deferred chargesStart of year $8,029$3,642
X-10c Land, buildings and equipment, netStart of year $971,290$926,830
X-11 Publicly traded securitiesStart of year $168,733$192,559
X-15 Other assetsStart of year $934,214$997,586
X-16 Total assetsStart of year $2,155,382$2,254,555
X-17 Accounts payable and accrued expensesStart of year $5,795$3,790
X-26 Total liabilitiesStart of year $5,795$3,790
X-27 Net assets without donor restrictionsStart of year $1,191,695$1,231,700
X-28 Net assets with donor restrictionsStart of year $957,892$1,019,065
X-32 Total net assets or fund balancesStart of year $2,149,587$2,250,765
X-33 Total liabilities and net assetsStart of year $2,155,382$2,254,555
Part XI · Reconciliation of net assets $2,250,765 net assets at year end
XI-1 Total revenue$338,668
XI-2 Total expenses$260,374
XI-3 Revenue less expenses$78,294
XI-4 Net assets at start of year$2,149,587
XI-5 Net unrealized gains (losses) on investments$22,884
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,250,765

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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