2025-06-05T09:38:41-04:00 2024-06-30 271873199 HALLORAN & ASSOCIATES LLC 349 MITCHELL STREET GROTON CT 06340 990 2023-07-01 060669124 OTIS LIBRARY OTIS 8608892365 261 MAIN STREET NORWICH CT 06360 CATHLEEN SPECIAL EXECUTIVE DIRECTOR 8608892365 2025-06-04 true true CHARLES J HALLORAN CPA P00937493 8604058195 2025-06-05 X 2023 2025-03-06 01:10:19Z X CATHLEEN SPECIAL 261 MAIN STREET NORWICH CT 06360 3635354 false X WWW.OTISLIBRARYNORWICH.ORG X 1853 CT PUBLIC LIBRARY 15 15 38 0 1358501 1422672 13913 16044 291092 354410 12258 6127 1675764 1799253 0 0 1112478 1189745 0 92352 623143 631983 1735621 1821728 -59857 -22475 11564936 11702512 83519 96668 11481417 11605844 PUBLIC LIBRARY false false 1501696 PUBLIC LIBRARY SERVING THE GREATER NORWICH, CT AREA 1501696 true true false false false false false false false true true false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 false 38 true false false false false false false false false X 15 15 false false false false false false false true true false false false true true true false true true true false CT X CATHLEEN SPECIAL 8608892365 261 MAIN STREET NORWICH CT 06360 CATHLEEN SPECIAL EXECUTIVE DI 36.00 X 88924 0 0 JOHN IOVINO PRESIDENT 5.00 X X 0 0 0 KATHRYN LORD SECRETARY 5.00 X X 0 0 0 CHUCK SEEMAN TREASURER 5.00 X X 0 0 0 KEVIN BROWN DIRECTOR 1.00 X 0 0 0 KAREN COOK DIRECTOR 1.00 X 0 0 0 TRACEY GOMES-JOHNSON DIRECTOR 1.00 X 0 0 0 ATTORNEY AYANTI GRANT DIRECTOR 1.00 X 0 0 0 HONORABLE THOMAS GRIFFIN DIRECTOR 1.00 X 0 0 0 MICHAEL P GUALTIERI DIRECTOR 1.00 X 0 0 0 DOCTOR YVETTE C JACARUSO DIRECTOR 1.00 X 0 0 0 PAMELA KINDER DIRECTOR 1.00 X 0 0 0 ATTORNEY BART SAYET DIRECTOR 1.00 X 0 0 0 DR MARY ELLEN JUKOSKI DIRECTOR 1.00 X 0 0 0 KRISTIE KRISS DIRECTOR 1.00 X 0 0 0 FAWN WALKER DIRECTOR 1.00 X 0 0 0 88924 false false false 1281165 141507 1422672 SERVICE FEES 8583 8583 PASSPORTS 4222 4222 MATERIAL RECOVERY FEES 2039 2039 STATE REIMBURSE-CONNECTICARD 1200 1200 16044 232070 232070 6000 6000 6000 6000 1958441 1836101 122340 122340 122340 MISCELLANEOUS INCOME 127 127 127 1799253 138384 238197 88923 4446 84477 911357 785500 65767 60090 108494 85680 16296 6518 80971 63945 12162 4864 22148 22148 65063 65063 11049 11049 234434 234434 BOOKS, PERIODICALS, ETC 99349 99349 COMPUTER OPERATIONS 70678 70678 INVESTMENT FEES 21487 21487 EQUPMENT MAINTENANCE 20064 20064 87711 61488 5343 20880 1821728 1501696 227680 92352 161766 165434 268079 272538 15068 4370 10092241 4722120 5604555 5370121 5515468 5890049 11564936 11702512 9715 9332 73804 87336 83519 96668 X 9642643 9794093 1838774 1811751 11481417 11605844 11564936 11702512 X -22475 146902 X false true X true false X 1100420 1482295 1271864 1358501 1422672 6635752 1100420 1482295 1271864 1358501 1422672 6635752 6635752 185364 198025 214362 216719 232070 1046540 5000 11000 5000 21000 295 210 954 258 127 1844 7705136 68301 0.86120 0.86630 X PART II, LINE 10 BOOK SALES 1,717 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1838774 21524 48547 1811751 1810094 64971 36291 1838774 1808911 18631 17447 1810094 1671269 194420 56778 1808911 1648307 49850 26888 1671269 0.94160 0.05840 false false 75000 75000 9181037 3907270 5273767 836204 814850 21354 5370121 ACCRUED EXPENSES 87336 87336 X 1924668 146902 146902 1777766 21487 21487 1799253 1800241 1800241 21487 21487 1821728 SCHEDULE D, PAGE 2, PART V, LINE 4 TEMPORARILY RESTRICTED FUNDS ARE AVAILABLE FOR CAPITAL PURCHASES AND BOOKS. PERMANENTLY RESTRICTED FUNDS ARE SOLELY TO PROVIDE ENDOWMENT FOR THE LIBRARY. THE EARNINGS OF THE PERMANENTLY RESTRICTED FUNDS MAY BE USED FOR OPERATIONS. SCHEDULE D, PAGE 3, PART X THE LIBRARY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS SUCH, THE LIBRARY IS EXEMPT FROM STATE AND FEDERAL INCOME TAXES ON INCOME RELATED TO ITS TAX-EXEMPT PURPOSE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUTE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE LIBRARY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX POSITIONS IN PROGRESS. MANAGEMENT BELIEVES THE LIBRARY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE YEARS PRIOR TO 2021. SCHEDULE D, PAGE 4, PART XI, LINE 4B GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME 21,487 SCHEDULE D, PAGE 4, PART XII, LINE 4B GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME 21,487 FORM 990, PAGE 1, ITEM B THE ORIGINAL FORM 990 INCLUDED FIGURES FROM A DRAFT VERSION OF THE YEAR END AUDITED FINANCIAL STATEMENTS. THIS AMENDED FORM 990 IS NOW REVISED TO INCLUDE THE FINAL AUDITED FINANCIAL STATEMENTS. PARTS THAT WERE AMENDED INCLUDE PART 1, PART III, PART VIII, PART IX, PART X, PART XI, SCHEDULE A PART II, SCHEDULE D PART X, PART XI, PART XII AND PART XIII. FORM 990, PAGE 6, PART VI, LINE 11B A REVIEW OF THE FORM 990 WAS PERFORMED BY THE FINANCE COMMITTEE PRIOR TO THEIR ACCEPTANCE OF THE RETURN. FORM 990, PAGE 6, PART VI, LINE 12C THE CONFLICTS OF INTEREST POLICY INCLUDES DIRECTORS, OFFICERS, BOARD MEMBERS, EMPLOYEES, AND VOLUNTEERS. DETERMINATIONS ON WHETHER A CONFLICT OF INTEREST EXISTS ARE MADE AND REVIEWED AT THE BOARD LEVEL. A PERSON WHO IS DETERMINED TO HAVE A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARDS DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION PROCESS FOR THE DIRECTOR IS REVIEWED AND APPROVED BY THE EXECUTIVE AND PERSONNEL COMMITTEES. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR KEY EMPLOYEES ARE DETERMINED BY THE DIRECTOR BASED UPON AN ANNUAL RAISE GUIDELINE PROVIDED BY THE EXECUTIVE AND PERSONNEL COMMITTEES. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME -21,487 GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME 21,487