Cragin Memorial Library in Colchester, Connecticut (CT)

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Cragin Memorial Library
Employer Identification Number (EIN)060689697
Name of OrganizationCragin Memorial Library
Address8 Linwood Ave, Colchester, CT 06415-1104
ActivitiesLibrary
SubsectionEducational Organization, Literary Organization
Ruling Date07/1943
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$294,941
Amount of Income$256,201
Form 990 Revenue Amount$32,820


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Financial snapshot ($)

Revenue for 2013

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$41,445$11,028$23,026
Contributions, gifts, grants, and similar amounts received$1,500$1,101$5,750
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Investment income$8,305$6,504$6,968
Gain/Loss from sale of assets other than inventory$-1,197$28,984$9,518
Gross amount from sale of assets other than inventory$49,187$48,858$109,447
Less: cost or other basis and sales expenses$50,384$19,874$99,929
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$32,837$-25,561$790
Total expenses$5,004$6,754$6,595
Total net assets$254,973$259,247$275,678
Excess/Deficit for the year$36,441$4,274$16,431
Net assets or fund balances at beginning of year$218,532$254,973$259,247
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$259,247$275,678
Balance Sheets
201120122013
Total assets$254,973$259,247$275,678
Total liabilities$0$0$0
Net assets or fund balances$254,973$259,247$275,678
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Number of organizations supported1
Sum of amounts of support$1,364
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