Guilford Smith Memorial Library Assn Inc in South Windham, Connecticut (CT)

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Guilford Smith Memorial Library Assn Inc
Employer Identification Number (EIN)060776274
Name of OrganizationGuilford Smith Memorial Library Assn Inc
AddressPO BOX 159, South Windham, CT 06266-0159
ActivitiesLibrary
SubsectionCharitable Organization
Ruling Date10/1995
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$100,000 to $499,999
Income$25,000 to $99,999
Filing Requirement990 - 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


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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%

Financial snapshot ($)

Revenue for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements 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 ValueFair 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)
2012201120102009Total
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
IdNameAddressStateEstablishedTotal Income
1Walt Disney Family Foundation104 Montgomery St, San Francisco, CA 94129-1718CA1997-07$14,420,942
2Southern Maryland Regional Library Association IncPO BOX 459, Charlott Hall, MD 20622-0459MD1994-12$2,505,726
3Bibliomation Inc24 Wooster Ave, Waterbury, CT 06708-2970CT1988-01$1,924,895
4Tompkins County Public Library Foundation Inc101 E Green St, Ithaca, NY 14850-5613NY1993-04$1,597,326
5Cyrenius H Booth Library25 Main St, Newtown, CT 06470-2105CT1963-02$1,555,232
6Mystic & Noank Library Inc40 Library St, Mystic, CT 06355-2418CT1979-02$1,131,854
7Seymour Public Library DistrictGenesee St, Auburn, NY 13021NY1994-09$911,225
8Sloatsburg Public LibraryLiberty Rock Rd, Sloatsburg, NY 10974NY1991-10$448,680
9Whippanong Library Association17 Sherwood Ln, Fairfield, NJ 07004-3601NJ1992-10$401,809
10The Fulton County Library Inc227 N 1st St, Mc Connellsbg, PA 17233-1003PA1995-11$394,460
11Kent Library AssociationPO BOX 127, Kent, CT 06757-0127CT1985-04$304,111
12New Haven Free Public Library Foundation Inc133 Elm St, New Haven, CT 06510-2003CT1990-07$241,387
13Simsbury Free Library760 Hopmeadow St, Simsbury, CT 06070-2223CT1933-09$91,551
14Guilford Smith Memorial Library Assn IncPO BOX 159, South Windham, CT 06266-0159CT1995-10$53,373
15Berlin Free Library Association834 Worthington Rdg, Berlin, CT 06037-3203CT1995-08$44,576
16Friends Of Beacon Falls Library10 Maple Avenue, Beacon Falls, CT 06403CT1996-12$0
17Friends Of The Case Memorial Library Inc176 Tyler City Road, Orange, CT 06477CT1997-06$0
18Friends Of The Library Association Of Warehouse Point107 Main St, East Windsor, CT 06088CT1992-04$0
19Friends Of The Stamford Law Library Inc123 Hoyt St, Stamford, CT 06905-5703CT1982-09$0
20Welles-Turner Memorial Library Second Century Fund Inc2407 Main Street, Glastonbury, CT 06033CT1993-08$0
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas4
Arizona2
California14
Colorado3
Connecticut13
District of Columbia1
Delaware3
Florida8
Georgia4
Iowa4
Idaho2
Illinois17
Indiana2
Kansas3
Kentucky1
Louisiana3
Massachusetts9
Maryland5
Maine8
Michigan12
Minnesota7
Missouri5
Montana3
North Carolina1
North Dakota1
Nebraska10
New Hampshire8
New Jersey12
New York23
Ohio8
Oklahoma8
Oregon5
Pennsylvania22
Rhode Island3
South Carolina2
South Dakota1
Tennessee4
Texas28
Utah2
Virginia10
Vermont3
Washington9
Wisconsin9
Wyoming1
International1
Total308

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