WELLES-TURNER MEMORIAL LIBRARY SECOND CE

EIN: 223240235 501(c)(3) Education

GLASTONBURY, CT

Total Revenue
$106,359
Total Expenses
$33,499
Total Assets
$1,170,933
Net Assets
$1,170,933
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
CT
Principal Officer
VIRGINIA ROSCOE
Phone
8606331546
Tax Period
2024-01-01 to 2024-12-31

WELLES-TURNER MEMORIAL LIBRARY SECOND CE, founded in 1992, is a small nonprofit in the Education sector that reported $106K in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $73K, a strong 69% operating margin.

Mission

- TO PROVIDE A CAPITAL FUND THAT CAN SUPPLEMENT FUNDS AVAILABLE TO THE TOWN OF GLASTONBURY FOR EXPANSION OR RENOVATION OF LIBRARY FACILITIES, INCLUDING BUT NOT LIMITED TO THE ACQUISITION OF LAND AND THE CONSTRUCTION, RENOVATION, MODIFICATION OR EQUIPPING OF THE BUILDINGS AND GROUNDS- TO PROVIDE FUNDS TO SUPPLEMENT THE ANNUAL FUNDS AVAILABLE TO THE TOWN OF GLASTONBURY FOR THE LIBRARY, AND TO PROMOTE AN INCREASED AWARENESS OF THE LIBRARY AND ITS OFFERINGS THROUGH, AMONG OTHER THINGS, CULTURAL, EDUCATIONAL AND OUTREACH PROGRAMS THAT DIRECTLY OR INDIRECTLY SUPPORT THE LIBRARY, REGARDLESS OF WHO PROVIDES THE PROGRAMS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $22,042
Program Service Revenue $0
Investment Income $84,317
Other Revenue $0
TOTAL REVENUE $106,359

Expense Breakdown

Grants Paid $22,000
Salaries & Benefits $0
Fundraising Expenses $313
Program Expenses $28,086
Other Expenses $11,499
TOTAL EXPENSES $33,499

Year-over-Year Comparison

2024 2023 Change
Revenue $106,359 $64,172 +0.7%
Expenses $33,499 $9,214 +2.6%
Net Income $72,860 $54,958 +0.3%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
15
Independent Members
15
Employees
N/A
Volunteers
N/A

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
5
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VIRGINIA ROSCOE PRESIDENT 15.00
Officer Director
$0 $0 $0
DR BERNARD CLARK CO-VP 10.00
Officer Director
$0 $0 $0
KENNEDY HUDNER CO-VP 10.00
Officer Director
$0 $0 $0
KYLE SCHOFFELMEER TREASURER 5.00
Officer Director
$0 $0 $0
JANE GRAVES SECRETARY 5.00
Officer Director
$0 $0 $0
LEN BOYLE TRUSTEE 5.00
Director
$0 $0 $0
MATT CANDILORO TRUSTEE 5.00
Director
$0 $0 $0
MATT CAREY TRUSTEE 5.00
Director
$0 $0 $0
BRIAN DAVIS TRUSTEE 5.00
Director
$0 $0 $0
KAREN FECKO TRUSTEE 5.00
Director
$0 $0 $0
PAMELA GAMBAROTTA TRUSTEE 5.00
Director
$0 $0 $0
MARTHA POOLE TRUSTEE 5.00
Director
$0 $0 $0
DIANNE HEMLOCK TRUSTEE 5.00
Director
$0 $0 $0
ZACHARY ROSENSOHN TRUSTEE 5.00
Director
$0 $0 $0
BOB ZANLUNGO TRUSTEE 5.00
Director
$0 $0 $0
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
2024 $106,359 $33,499 $1,170,933 $72,860
2023 $64,172 $9,214 $1,098,073 $54,958
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