Guilford Smith Memorial Library Assn Inc in South Windham, Connecticut (CT)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Organizations performing similar types of work
| Guilford Smith Memorial Library Assn Inc | |
| Employer Identification Number (EIN) | 060776274 |
| Name of Organization | Guilford Smith Memorial Library Assn Inc |
| Address | PO BOX 159, South Windham, CT 06266-0159 |
| Activities | Library |
| Subsection | Charitable Organization |
| Ruling Date | 10/1995 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $292,498 |
| Amount of Income | $53,373 |
| Form 990 Revenue Amount | $28,152 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Libraries |
Non-representatives - add comments:
Amount of income in 2013: $53,373 (it was $58,948 in 2012)
| Guilford Smith Memorial Library Assn Inc: | $53,373 |
| Other organizations performing similar types of work: | $105,731 |
Assets in 2013: $292,498 (it was $248,184 in 2012)
| This organization: | $292,498 |
| Other organizations performing similar types of work: | $324,664 |
Expenses in 2012: $58,818
| This organization: | $58,818 |
| Other organizations performing similar types of work: | $75,408 |
Income to expenses ratio in 2012: 0.9
| This organization: | 0.9 |
| Other organizations performing similar types of work: | 1.2 |
Grants share in income in 2012: 93.9%
| This organization: | 93.9% |
| Other organizations performing similar types of work: | 74.2% |
Revenue for 2012
Assets for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $56,488 | $3,899 | $3,899 | |
| Contributions, gifts, grants, etc., received | $53,049 | |||
| Interest on savings and temporary cash investments | $23 | |||
| Dividends and interest from securities | $3,876 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $58,818 | $533 | $1,049 | $57,736 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $58,818 | $533 | $57,736 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $-2,330 | |||
| Net investment income | $3,366 | |||
| Adjusted net income | $2,850 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $248,184 | $780,219 |
| Cash - non-interest-bearing | $15,236 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $213,723 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $19,225 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $248,184 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-460 |
| Excise Tax Based on Investment Income (for 2012) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $34 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $34 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| Statements Regarding Activities (for 2012) | |
| During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012? | Yes |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2012) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2012) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $220,905 |
| Net value of noncharitable-use assets | $217,600 |
| Minimum investment return | $10,880 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $3,366 | $2,855 | $3,781 | $4,914 | $14,916 |
| Qualifying distributions made directly for active conduct of exempt activities | $57,736 | $63,700 | $40,306 | $49,934 | $211,676 |
| Value of all assets | $1 | $0 | $0 | $0 | $1 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $7,253 | $7,287 | $8,017 | $7,845 | $30,402 |
| Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) | $0 | $0 | $0 | $0 | $0 |
| Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) | $0 | $0 | $0 | $0 | $0 |
| Gross investment income | $0 | $0 | $0 | $0 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Walt Disney Family Foundation | 104 Montgomery St, San Francisco, CA 94129-1718 | CA | 1997-07 | $14,420,942 |
| 2 | Southern Maryland Regional Library Association Inc | PO BOX 459, Charlott Hall, MD 20622-0459 | MD | 1994-12 | $2,505,726 |
| 3 | Bibliomation Inc | 24 Wooster Ave, Waterbury, CT 06708-2970 | CT | 1988-01 | $1,924,895 |
| 4 | Tompkins County Public Library Foundation Inc | 101 E Green St, Ithaca, NY 14850-5613 | NY | 1993-04 | $1,597,326 |
| 5 | Cyrenius H Booth Library | 25 Main St, Newtown, CT 06470-2105 | CT | 1963-02 | $1,555,232 |
| 6 | Mystic & Noank Library Inc | 40 Library St, Mystic, CT 06355-2418 | CT | 1979-02 | $1,131,854 |
| 7 | Seymour Public Library District | Genesee St, Auburn, NY 13021 | NY | 1994-09 | $911,225 |
| 8 | Sloatsburg Public Library | Liberty Rock Rd, Sloatsburg, NY 10974 | NY | 1991-10 | $448,680 |
| 9 | Whippanong Library Association | 17 Sherwood Ln, Fairfield, NJ 07004-3601 | NJ | 1992-10 | $401,809 |
| 10 | The Fulton County Library Inc | 227 N 1st St, Mc Connellsbg, PA 17233-1003 | PA | 1995-11 | $394,460 |
| 11 | Kent Library Association | PO BOX 127, Kent, CT 06757-0127 | CT | 1985-04 | $304,111 |
| 12 | New Haven Free Public Library Foundation Inc | 133 Elm St, New Haven, CT 06510-2003 | CT | 1990-07 | $241,387 |
| 13 | Simsbury Free Library | 760 Hopmeadow St, Simsbury, CT 06070-2223 | CT | 1933-09 | $91,551 |
| 14 | Guilford Smith Memorial Library Assn Inc | PO BOX 159, South Windham, CT 06266-0159 | CT | 1995-10 | $53,373 |
| 15 | Berlin Free Library Association | 834 Worthington Rdg, Berlin, CT 06037-3203 | CT | 1995-08 | $44,576 |
| 16 | Friends Of Beacon Falls Library | 10 Maple Avenue, Beacon Falls, CT 06403 | CT | 1996-12 | $0 |
| 17 | Friends Of The Case Memorial Library Inc | 176 Tyler City Road, Orange, CT 06477 | CT | 1997-06 | $0 |
| 18 | Friends Of The Library Association Of Warehouse Point | 107 Main St, East Windsor, CT 06088 | CT | 1992-04 | $0 |
| 19 | Friends Of The Stamford Law Library Inc | 123 Hoyt St, Stamford, CT 06905-5703 | CT | 1982-09 | $0 |
| 20 | Welles-Turner Memorial Library Second Century Fund Inc | 2407 Main Street, Glastonbury, CT 06033 | CT | 1993-08 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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