THE GREENWICH LIBRARY

EIN: 066002281 501(c)(3) Education

GREENWICH, CT

Total Revenue
$2,443,538
Total Expenses
$4,441,622
Total Assets
$79,499,422
Net Assets
$79,473,277
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1877
Legal Domicile
CT
Principal Officer
PEGGY KALB
Phone
2036227900
Tax Period
2022-07-01 to 2023-06-30

THE GREENWICH LIBRARY, founded in 1877, is a community nonprofit in the Education sector that reported $2.4M in total revenue in fiscal year 2022. Revenue fell 53% from the prior year — a significant decline worth monitoring. Expenses of $4.4M exceeded revenue, resulting in a 82% operating deficit.

Mission

TO PROVIDE EXCEPTIONAL RESOURCES, PROGRAMS, AND SERVICES THAT PROMOTE THE JOY OF LIFELONG LEARNING AND DISCOVERY, AND TO OFFER A WELCOMING PLACE FOR PEOPLE TO GATHER AND SHARE EXPERIENCES.

Program Service Accomplishments

Program 1
Expenses: $1,745,640

PETERSON FUNDED OPERATIONS:THE CLEMENTINE LOCKWOOD PETERSON FOUNDATION IS A SEPARATE ENTITY OPERATED BY INDEPENDENT TRUSTEES, FUNDS THE MAINTENANCE AND OPERATIONS OF THE PETERSON WING OF THE MAIN...

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PETERSON FUNDED OPERATIONS:THE CLEMENTINE LOCKWOOD PETERSON FOUNDATION IS A SEPARATE ENTITY OPERATED BY INDEPENDENT TRUSTEES, FUNDS THE MAINTENANCE AND OPERATIONS OF THE PETERSON WING OF THE MAIN LIBRARY THROUGH AN AGREEMENT BETWEEN THE LIBRARY AND THE TOWN OF GREENWICH. THIS WING OFFERS SERVICES AND MATERIALS FOCUSED ON BUSINESS, MUSIC, AND THE ARTS.

Program 2
Expenses: $1,656,321 Revenue: $14,557

PRIVATE FUNDING:PRIVATE FUNDING SUPPORTS STAFF TRAINING, PROGRAMMING, SOME MATERIALS, SUPPLIES, AS WELL AS CAPITAL PROJECTS OUTSIDE THE SCOPE OF PUBLICLY FUNDED CAPITAL MAINTENANCE PROJECTS.

Program 3
Expenses: $497,684

FRIENDS ORGANIZATIONS: THERE ARE THREE FRIENDS ORGANIZATIONS - THE "FRIENDS OF GREENWICH LIBRARY," THE "FRIENDS OF BYRAM SHUBERT LIBRARY, AND THE "FRIENDS OF COS COB LIBRARY." THESE ORGANIZATIONS...

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FRIENDS ORGANIZATIONS: THERE ARE THREE FRIENDS ORGANIZATIONS - THE "FRIENDS OF GREENWICH LIBRARY," THE "FRIENDS OF BYRAM SHUBERT LIBRARY, AND THE "FRIENDS OF COS COB LIBRARY." THESE ORGANIZATIONS PROVIDE FUNDING AND ACTIVITIES FOR THEIR RESPECTIVE LOCATIONS INCLUDING THE ORAL HISTORY PROJECT, THE FLINN GALLERY, BOOK CLUBS, AND COMMUNITY EVENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $2,354,608
Program Service Revenue $55,090
Investment Income $55,194
Other Revenue $-21,354
TOTAL REVENUE $2,443,538

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,125,248
Fundraising Expenses $237,246
Program Expenses $3,899,645
Other Expenses $3,316,374
TOTAL EXPENSES $4,441,622

Year-over-Year Comparison

2022 2021 Change
Revenue $2,443,538 $5,180,636 -0.5%
Expenses $4,441,622 $4,570,378 0.0%
Net Income $-1,998,084 $610,258 -4.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
21
Independent Members
21
Employees
4
Volunteers
177

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$286,384
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALEXANDRA CODRARO TRUSTEE 1.00
Director
$0 $0 $0
BEY-SHAN LIU TRUSTEE 1.00
Director
$0 $0 $0
CAROLINE HIRSCHFELD TRUSTEE 1.00
Director
$0 $0 $0
DAVID MULLEN TRUSTEE 1.00
Director
$0 $0 $0
DIANA SEATON SECOND VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
HANK ASHFORTH FIRST VICE PRESIDENT 5.00
Officer Director
$0 $0 $0
IAN MURRAY TREASURER 5.00
Officer Director
$0 $0 $0
JILL STAUFFER COBBS TRUSTEE 1.00
Director
$0 $0 $0
JOHN BLANKLEY MEMBER-AT-LARGE 1.00
Officer Director
$0 $0 $0
JOHN KNOX TRUSTEE 1.00
Director
$0 $0 $0
JOSEPH PELLEGRINO TRUSTEE (OUTGOING) 1.00
Director
$0 $0 $0
KAREN FREE ROYCE TRUSTEE 1.00
Director
$0 $0 $0
KAREN KEEGAN TRUSTEE 1.00
Director
$0 $0 $0
MARTY GENDELL TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL FREITAG TRUSTEE 1.00
Director
$0 $0 $0
PEGGY EDERSHEIM KALB PRESIDENT 1.00
Officer Director
$0 $0 $0
PETER SCHWARTZSTEIN TRUSTEE 1.00
Director
$0 $0 $0
PHIL LOCHNER SECRETARY 5.00
Officer Director
$0 $0 $0
ROSARIO BROOKS TRUSTEE 1.00
Director
$0 $0 $0
SEUNG BAK TRUSTEE 1.00
Director
$0 $0 $0
SHANTA SMITH TRUSTEE (OUTGOING) 1.00
Director
$0 $0 $0
SONAL SETH TRUSTEE 1.00
Director
$0 $0 $0
SOPHIA TAWIL TRUSTEE 1.00
Director
$0 $0 $0
LISA MANDEL DIRECTOR OF DEV. 40.00
Officer
$158,069 $15,685 $173,754
PEGGY PEI ACCOUNTING MANAGER 40.00
Officer
$104,914 $7,716 $112,630
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $2,443,538 $4,441,622 $79,499,422 $-1,998,084
2022 $5,180,636 $4,570,378 $78,553,230 $610,258
2021 $8,026,445 $3,878,433 $86,849,437 $4,148,012
2020 $4,008,236 $3,421,614 $78,114,043 $586,622
2019 $10,799,566 $3,717,962 $76,908,156 $7,081,604
2018 $5,901,766 $3,705,345 $70,853,915 $2,196,421
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