Sherman Library Association INC: Nonprofit Profile, Financials & Form 990 (EIN 06-0689695)

Revenue by fiscal year
FY2020	$289K
FY2021	$357K
FY2022	$339K
FY2023	$530K
FY2024	$439K
FY2025	$741K

Expenses by fiscal year
FY2020	$400K
FY2021	$406K
FY2022	$468K
FY2023	$465K
FY2024	$468K
FY2025	$575K

Net assets by fiscal year
FY2020	$4.0M
FY2021	$4.0M
FY2022	$3.8M
FY2023	$3.9M
FY2024	$3.9M
FY2025	$4.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1977.

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

Where the money goes

98 cents of each dollar spent went to programs.

98%

Program services 98% · $566K Management & general 2% · $9K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Sharon Kleinberg

Treasurer

$0Pt VII · Sec A

Charlotte Rutsch

Board of Trustees

$0Pt VII · Sec A

Amanda Croasmun

Secretary

$0Pt VII · Sec A

Dee Ratterree

Board of Trustees

$0Pt VII · Sec A

Irit Granger

Board of Trustees

$0Pt VII · Sec A

Barbara Ireland

Board of Trustees

$0Pt VII · Sec A

Katy Osborn

President

$0Pt VII · Sec A

Christy Seewagen

Board of Trustees

$0Pt VII · Sec A

See Sherman Library Association INC 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 15aYes

Programs and updates

Sherman Library Association INC is an education nonprofit based in Sherman, CT.

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Provided by the organization

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1 program · $566K · in their own filed words · FY2024

01

A library is maintained for general public use. Operations include educational programs for adults and youth along with special programs held to stimulate interest in reading and use of the local library.

$566Kprogram 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 · FY2024

Hoag Family Charitable FoundationFY2024$20K

Kettering Family FoundationFY2024$5K

Krouse Family Foundation INCFY2024$1K

Richard and Bette Saltzman FoundationFY2024$590

Total grants receivedfrom 4 funders$27K

See all 4 funders →

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$741K

Ln 12

Gifts and grantsLn 1h$348K

Investment incomeLn 3$300K

Other incomeLn 4–11$80K

Money outPt IX

$575K

Ln 25

Programscol B$566K

Managementcol C$9K

Owns and owesPt X

$4.0M

net assets · Ln 32

Cash and savingsLn 1–2$553K

Total assetsLn 16$4.0M

LiabilitiesLn 26$0

PeoplePt VI, VII

12

listed · VII A

PaidVII A0

Voting boardVI 1a12

IndependentVI 1b12

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$348K

Government grantsLn 1e$208K

Fees for servicesLn 2g$13K

Investment incomeLn 3$300K

Other incomeLn 4–11$80K

Gains on assetsLn 7$243K

Total revenueLn 12$741K

Assets in detailPt X, end of year

CashLn 1$9K

SavingsLn 2$544K

Cash and savings togetherLn 1–2$553K

InvestmentsLn 11–13$809K

Land, buildings, equipmentLn 10c$2.7M

Total assetsLn 16$4.0M

LiabilitiesLn 26$0

Net assetsLn 32$4.0M

OperationsPt I, VI

EmployeesI 511

VolunteersI 665

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$55K	$553K
InvestmentsLn 11–13	$1.1M	$809K
Land, buildings, equipmentLn 10c	$2.8M	$2.7M
Total assetsLn 16	$3.9M	$4.0M
LiabilitiesLn 26	$6K	$0
Net assetsLn 32	$3.9M	$4.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$221K	$221K
Payroll taxesLn 10	$16K	$16K
Accounting feesLn 11c	$9K		$9K
Office expensesLn 13	$10K	$10K
Information technologyLn 14	$44K	$44K
OccupancyLn 16	$96K	$96K
Depreciation, depletion and amortizationLn 22	$122K	$122K
InsuranceLn 23	$13K	$13K
Other expenses (24a–d)Ln 24	$44K	$44K
Total functional expensesLn 25	$575K	$566K	$9K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$741K	$575K	$166K	$4.0M	990 PDF
FY2024	$439K	$468K	−$29K	$3.9M	990 PDF
FY2023	$530K	$465K	$65K	$3.9M	990 PDF
FY2022	$339K	$468K	−$129K	$3.8M	990 PDF
FY2021	$357K	$406K	−$49K	$4.0M	990 PDF
FY2020	$289K	$400K	−$111K	$4.0M	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 $741,464 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $274,860$348,048

I-9 Program service revenuePrior year $11,409$13,067

I-10 Investment incomePrior year $76,694$300,087

I-11 Other revenuePrior year $75,856$80,262

I-12 Total revenuePrior year $438,819$741,464

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $194,639$237,715

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $273,669$337,486

I-18 Total expensesPrior year $468,308$575,201

I-19 Revenue less expensesPrior year −$29,489$166,263

Part VI · Governance 12 of 12 board members independent, no flags

VI-1a Voting members of the governing body12

VI-1b Independent voting members12

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $741,464 across 10 lines filed

VIII-1b Membership dues$35,411

VIII-1e Government grants$208,241

VIII-1f All other contributions, gifts and grants$104,396

VIII-1h Total contributions, gifts and grants$348,048

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,067$13,067

VIII-3 Investment incomeExcluded from tax $56,624$56,624

VIII-6 Net rental income or lossRelated to mission $200$200

VIII-7 Net gain or loss on sales of assetsExcluded from tax $243,463$243,463

VIII-8 Net income from fundraising eventsExcluded from tax $80,062$80,062

VIII-12 Total revenueRelated to mission $13,267 · Unrelated business $0 · Excluded from tax $380,149$741,464

Part IX · Statement of functional expenses $575,201 across 9 lines filed

IX-7 Other salaries and wagesPrograms $221,450$221,450

IX-10 Payroll taxesPrograms $16,265$16,265

IX-11c Accounting feesManagement $8,856$8,856

IX-13 Office expensesPrograms $9,696$9,696

IX-14 Information technologyPrograms $43,768$43,768

IX-16 OccupancyPrograms $96,106$96,106

IX-22 Depreciation, depletion and amortizationPrograms $121,570$121,570

IX-23 InsurancePrograms $13,418$13,418

IX-24 Other expenses (24a–d)Programs $44,072$44,072

IX-25 Total functional expensesPrograms $566,345 · Management $8,856 · Fundraising $0$575,201

Part X · Balance sheet $4,026,030 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $52,485$9,020

X-2 Savings and temporary cash investmentsStart of year $2,917$544,109

X-9 Prepaid expenses and deferred charges$6,897

X-10c Land, buildings and equipment, netStart of year $2,769,874$2,656,963

X-11 Publicly traded securitiesStart of year $1,052,568$809,041

X-16 Total assetsStart of year $3,877,844$4,026,030

X-25 Other liabilitiesStart of year $5,653$0

X-26 Total liabilitiesStart of year $5,653$0

X-27 Net assets without donor restrictionsStart of year $3,872,191$4,026,030

X-32 Total net assets or fund balancesStart of year $3,872,191$4,026,030

X-33 Total liabilities and net assetsStart of year $3,877,844$4,026,030

Part XI · Reconciliation of net assets $4,026,030 net assets at year end

XI-1 Total revenue$741,464

XI-2 Total expenses$575,201

XI-3 Revenue less expenses$166,263

XI-4 Net assets at start of year$3,872,191

XI-5 Net unrealized gains (losses) on investments−$153,642

XI-8 Prior period adjustments$141,220

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$4,026,030

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

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Sherman Library Association INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Sherman Library Association INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV