CLEMENTINE LOCKWOOD PETERSON FOUNDATION: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
CLEMENTINE LOCKWOOD PETERSON FOUNDATION (EIN 06-6377136)
Tax period
2020-04-01 to 2021-03-31
Filed
2021-12-01
IRS object ID
202113359349301206
Schema version
2020v4.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-12-01T09:58:26-06:00ReturnTs
Tax Period End2021-03-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN060312590PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Cummings & Lockwood LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO Box 120AddressLine1Txt
CityStamfordCityNm
State AbbreviationCTStateAbbreviationCd
ZIP069040120ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-04-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN066377136EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CLEMENTINE LOCKWOOD PETERSON FOUNDATIONBusinessNameLine1Txt
Business Name Line2c/o Cummings & Lockwood (HST III)BusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlCLEMBusinessNameControlTxt
Phone2033514308PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO Box 120AddressLine1Txt
CityStamfordCityNm
State AbbreviationCTStateAbbreviationCd
ZIP069040120ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonHoward S Tuthill IIIPersonNm
Person TitleTrusteePersonTitleTxt
Phone2033514308PhoneNum
Signature2021-12-01SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstHowardPersonFirstNm
Person LastTuthill IIIPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonGail RobertinoPreparerPersonNm
PTINP00093685PTIN
Phone2033514308PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerHoward S Tuthill IIIPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO Box 120AddressLine1Txt
CityStamfordCityNm
State AbbreviationCTStateAbbreviationCd
ZIP069040120ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$11,277,797GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization TrustYes (X)TypeOfOrganizationTrustInd
Formation1992FormationYr
Legal Domicile StatePALegalDomicileStateCd
Activity Or MissionSupport of the Greenwich Library Wing, the construction of which was funded by the Trust.ActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent1VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI-$32,118TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$1,956,181PYInvestmentIncomeAmt
CY Investment Income$2,857,477CYInvestmentIncomeAmt
PY Other Revenue$54,004PYOtherRevenueAmt
CY Other Revenue-$52,854CYOtherRevenueAmt
PY Total Revenue$2,010,185PYTotalRevenueAmt
CY Total Revenue$2,804,623CYTotalRevenueAmt
PY Grants And Similar Paid$1,497,053PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$1,186,500CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$132,264PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$157,649CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$292,202PYOtherExpensesAmt
CY Other Expenses$277,956CYOtherExpensesAmt
PY Total Expenses$1,921,519PYTotalExpensesAmt
CY Total Expenses$1,622,105CYTotalExpensesAmt
PY Revenues Less Expenses$88,666PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$1,182,518CYRevenuesLessExpensesAmt
Total Assets BOY$24,687,548TotalAssetsBOYAmt
Total Assets EOY$34,728,766TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$24,687,548NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$34,728,766NetAssetsOrFundBalancesEOYAmt
MissionTo support the Greenwich Library of Greenwich, Connecticut, giving preference to the Business Section and the Recorded Music Department of the Library.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,316,980ExpenseAmt
Grant$1,186,500GrantAmt
DescClementine Lockwood Peterson Foundation (the trust) funded the purchase of land and the construction of a new wing of The Greenwich Library in the 1990's to house the Library's Business Section and Recorded Music Department. During the fiscal year ending 3/31/21, the trust funded all of the Wing's maintenance and operating expenses, as well as capital repairs to the facility, as reviewed and approved by the Trustees and the Library's Board.Desc
Total Program Service Expenses$1,316,980TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other SecYes (1)ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign ActivitiesYes (1)ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document4IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member1IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Cummings & Lockwood (HST III)BusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2033514308PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Six Landmark SquareAddressLine1Txt
CityStamfordCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06901ZIPCd
FieldValueIRS element (for citing)
Info In Schedule O Part VIIYes (X)InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
F Michael Donohue IV
Trustee10.00Yes (X)$52,550$0$0
D Mark Gaston
Trustee10.00Yes (X)$52,550$0$0
Howard S Tuthill III
Trustee10.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$105,100TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
Cummings & Lockwood LLC
6 Landmark SquareStamfordCT06901H.S. Tuthill III Trustee fee$52,550
Cummings & Lockwood LLC
6 Landmark SquareStamfordCT06901Legal & Accounting$50,763
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$453,199TotalRevenueColumnAmt
Exclusion$453,199ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$10,877,452SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$8,473,174SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$2,404,278SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,404,278TotalRevenueColumnAmt
Exclusion$2,404,278ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescPartnerships, per Sch. K-1sDesc
Business523000BusinessCd
Total Revenue Column-$52,854TotalRevenueColumnAmt
Unrelated Business Revenue-$32,118UnrelatedBusinessRevenueAmt
Exclusion-$20,736ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total-$52,854OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,804,623TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue-$32,118UnrelatedBusinessRevenueAmt
Exclusion$2,836,741ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$1,186,500TotalAmt
Program Services$1,186,500ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$157,649TotalAmt
Program Services$105,099ProgramServicesAmt
Management And General$52,550ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$50,763TotalAmt
Program Services$25,381ProgramServicesAmt
Management And General$25,382ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$173,657TotalAmt
Management And General$173,657ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
Partnership Investment$4,891$4,891
Partnership port. ded.$20,511$20,511
Foreign Taxes & Fees$20,210$20,210
Unrelated business inco$4,694$4,694

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$3,230TotalAmt
Management And General$3,230ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$1,622,105TotalAmt
Program Services$1,316,980ProgramServicesAmt
Management And General$305,125ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$966,517BOYAmt
EOY$1,118,704EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$20,410,886BOYAmt
EOY$28,782,488EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$3,310,145BOYAmt
EOY$4,827,574EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$24,687,548BOYAmt
EOY$34,728,766EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$27,445,053BOYAmt
EOY$27,445,053EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY-$2,757,505BOYAmt
EOY$7,283,713EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$24,687,548BOYAmt
EOY$34,728,766EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$24,687,548BOYAmt
EOY$34,728,766EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$1,182,518ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$8,858,700OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type3 Non FuncYes (X)SupportingOrgType3NonFuncInd
Supported Organizations1SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp

Supported Organization Name SupportedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1Greenwich LibraryBusinessNameLine1Txt
FieldValueIRS element (for citing)
EIN066002281EIN
Organization Type7OrganizationTypeCd
Governing Document ListedYes (1)GoverningDocumentListedInd
Support$1,186,500SupportAmt
Other Support$0OtherSupportAmt
FieldValueIRS element (for citing)
Supported Organizations Total1SupportedOrganizationsTotalCnt
Support Sum$1,186,500SupportSumAmt
Other Support Sum$0OtherSupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (1)ListedByNameGoverningDocInd
Suprt Org No IRS Determination0SuprtOrgNoIRSDeterminationInd
Supported Org Section C4560SupportedOrgSectionC456Ind
Supported Org Not Organized US0SupportedOrgNotOrganizedUSInd
Organization Change Suprt Org0OrganizationChangeSuprtOrgInd
Support Non Supported Org0SupportNonSupportedOrgInd
Payment Substantial Contribtr0PaymentSubstantialContribtrInd
Loan Disqualified Person0LoanDisqualifiedPersonInd
Controlled Disqualified Prsn0ControlledDisqualifiedPrsnInd
Disqualified Prsn Controll Int0DisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr Int0DisqualifiedPrsnOwnrIntInd
Excess Business Holdings RulesYes (1)ExcessBusinessHoldingsRulesInd
Excess Business Holdings0ExcessBusinessHoldingsInd
Contribution Controller0ContributionControllerInd
Contribution Family0ContributionFamilyInd
Contribution35 Controlled0Contribution35ControlledInd

Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp

FieldValueIRS element (for citing)
Timely Provided DocumentsYes (1)TimelyProvidedDocumentsInd
Officers Close Relationship0OfficersCloseRelationshipInd
Supported Org Voice InvestmentYes (1)SupportedOrgVoiceInvestmentInd

Adjusted Net Income AdjustedNetIncomeGrp

Net ST Capital Gain Adj Net Incm NetSTCapitalGainAdjNetIncmGrp

FieldValueIRS element (for citing)
Prior Year$0PriorYearAmt
Current Year$548,437CurrentYearAmt

Recoveries PY Distributions RecoveriesPYDistributionsGrp

FieldValueIRS element (for citing)
Prior Year$0PriorYearAmt
Current Year$0CurrentYearAmt

Other Gross Income OtherGrossIncomeGrp

FieldValueIRS element (for citing)
Prior Year$583,938PriorYearAmt
Current Year$453,199CurrentYearAmt

Adjusted Gross Income AdjustedGrossIncomeGrp

FieldValueIRS element (for citing)
Prior Year$583,938PriorYearAmt
Current Year$1,001,636CurrentYearAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Prior Year$0PriorYearAmt
Current Year$0CurrentYearAmt

Production Income ProductionIncomeGrp

FieldValueIRS element (for citing)
Prior Year$308,628PriorYearAmt
Current Year$305,125CurrentYearAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
Prior Year$0PriorYearAmt
Current Year$0CurrentYearAmt

Total Adjusted Net Income TotalAdjustedNetIncomeGrp

FieldValueIRS element (for citing)
Prior Year$275,310PriorYearAmt
Current Year$696,511CurrentYearAmt

Minimum Asset Amount MinimumAssetAmountGrp

Average Monthly FMV Of Sec AverageMonthlyFMVOfSecGrp

FieldValueIRS element (for citing)
Prior Year$27,830,336PriorYearAmt
Current Year$29,802,433CurrentYearAmt

Average Monthly Cash Balances AverageMonthlyCashBalancesGrp

FieldValueIRS element (for citing)
Prior Year$1,051,734PriorYearAmt
Current Year$919,811CurrentYearAmt

FMV Other Non Exempt Use Asset FMVOtherNonExemptUseAssetGrp

FieldValueIRS element (for citing)
Prior Year$0PriorYearAmt
Current Year$0CurrentYearAmt

Total FMV Of Non Exempt Use Asset TotalFMVOfNonExemptUseAssetGrp

FieldValueIRS element (for citing)
Prior Year$28,882,070PriorYearAmt
Current Year$30,722,244CurrentYearAmt
FieldValueIRS element (for citing)
Discount Claimed$0DiscountClaimedAmt

Acquisition Indebtedness AcquisitionIndebtednessGrp

FieldValueIRS element (for citing)
Prior Year$0PriorYearAmt
Current Year$0CurrentYearAmt

Adjusted FMV Less Indebtedness AdjustedFMVLessIndebtednessGrp

FieldValueIRS element (for citing)
Prior Year$28,882,070PriorYearAmt
Current Year$30,722,244CurrentYearAmt

Cash Deemed Charitable CashDeemedCharitableGrp

FieldValueIRS element (for citing)
Prior Year$433,231PriorYearAmt
Current Year$460,834CurrentYearAmt

Net Vl Non Exempt Use Assets NetVlNonExemptUseAssetsGrp

FieldValueIRS element (for citing)
Prior Year$28,448,839PriorYearAmt
Current Year$30,261,410CurrentYearAmt

Pct Of Net Vl Non Exempt Use Ast PctOfNetVlNonExemptUseAstGrp

FieldValueIRS element (for citing)
Prior Year$995,709PriorYearAmt
Current Year$1,059,149CurrentYearAmt

Recoveries PY Distri Min Asset RecoveriesPYDistriMinAssetGrp

FieldValueIRS element (for citing)
Prior Year$0PriorYearAmt
Current Year$0CurrentYearAmt

Total Minimum Asset TotalMinimumAssetGrp

FieldValueIRS element (for citing)
Prior Year$995,709PriorYearAmt
Current Year$1,059,149CurrentYearAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
CY Adj Net Income Distributable$275,310CYAdjNetIncomeDistributableAmt
CY Pct85 Adjusted Net Income$234,014CYPct85AdjustedNetIncomeAmt
CY Total Min Ast Distributable$995,709CYTotalMinAstDistributableAmt
CY Greater Adjusted Minimum$995,709CYGreaterAdjustedMinimumAmt
CY Income Tax Imposed PY$4,531CYIncomeTaxImposedPYAmt
CY Distributable As Adjusted$991,178CYDistributableAsAdjustedAmt

Distributions DistributionsGrp

FieldValueIRS element (for citing)
CY Paid Accomplish Exempt Prps$1,186,500CYPaidAccomplishExemptPrpsAmt
CY Pd In Excess Income Activity$0CYPdInExcessIncomeActivityAmt
CY Administrative Expense Paid$0CYAdministrativeExpensePaidAmt
Exempt Use Assets Acquis Paid$0ExemptUseAssetsAcquisPaidAmt
Qualified Set Aside$0QualifiedSetAsideAmt
CY Other Distributions$0CYOtherDistributionsAmt
CY Total Annual Distributions$1,186,500CYTotalAnnualDistributionsAmt
CY Distri Attentive Suprt Org$1,186,500CYDistriAttentiveSuprtOrgAmt
CY Distributable As Adjusted$991,178CYDistributableAsAdjustedAmt
CY Distribution Yr100.000000000000CYDistributionYrRt

Distribution Allocations DistributionAllocationsGrp

FieldValueIRS element (for citing)
CY Distributable As Adjusted$991,178CYDistributableAsAdjustedAmt
Underdistributions$0UnderdistributionsAmt
Excess Distribution Cyov Yr5$0ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$0ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$0ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$835,699ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$1,497,053ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$2,332,752TotalExcessDistributionCyovAmt
Cyov Applied Underdistri PY$0CyovAppliedUnderdistriPYAmt
Cyov Applied Underdistr CPY$991,178CyovAppliedUnderdistrCPYAmt
Carryover PY Not Applied$0CarryoverPYNotAppliedAmt
Excess Distribution Cyov$1,341,574ExcessDistributionCyovAmt
CY Total Annual Distributions$1,186,500CYTotalAnnualDistributionsAmt
CY Distrib App Underdistri PY$0CYDistribAppUnderdistriPYAmt
Excess Distribution$1,186,500ExcessDistributionAmt
Remaining Underdistri PY$0RemainingUnderdistriPYAmt
Remaining Underdistri CY$0RemainingUnderdistriCYAmt
Excess Distri Cyov To Next Yr$2,528,074ExcessDistriCyovToNextYrAmt
Excess From Year5$0ExcessFromYear5Amt
Excess From Year4$0ExcessFromYear4Amt
Excess From Year3$0ExcessFromYear3Amt
Excess From Year2$1,341,574ExcessFromYear2Amt
Excess From Year1$1,186,500ExcessFromYear1Amt

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferencePart IV, Sec. D, Lines 2 & 3, and Part V, Sec. D, Line 8:FormAndLineReferenceDesc
ExplanationClementine Lockwood Peterson Foundation (the Trust) satisfies the Responsiveness Test, including both the "relationship" test and the "significant voice" test under Treas. Reg. section 1.509(a)-4(i)(3)(ii) and (iii). The Trustees maintain a close and continuous working relationship with the Trustees of the Greenwich Library, and by reason of this relationship, the Library has a significant voice in the Trust's investment policies, the timing of grants, the manner of making grants and the use of its income and assets. The Trust was established under Article EIGHTH of the Will of Clementine Lockwood Peterson for the benefit of The Greenwich Library, and requires the Trustees to distribute all or any part of the net income and principal at such time and in such manner as the Trustees in their sole discretion determine will best promote and advance the general uses and purposes of the Library, taking note of the testatrix's preference that trust distributions be used for the Business Section and the Recorded Music Department to the extent that the Library has a reasonable use for funds for these purposes. Working with the Library, the Trustees adopted as the Trust's mission the creation and support of a new wing of the Greenwich Library to house the Library's Business Section and Recorded Music Department. The Trust funded the purchase of land and the construction of a new wing of the Library in the 1990's to house the Library's Business Section and Recorded Music Department. The Trustees make annual distributions that fund all of the wing's maintenance and operating expenses. Traditionally, the Trustees have made annual distributions in an amount equal to 4.5% of the average annual fair market value of the Trust's assets for its three immediately preceding tax years. At the Library's request, the Trustees established a sinking fund within the Trust to fund capital repairs to the wing. The sinking fund (approximately 10% of the Trust's assets) is excluded in calculating the annual distribution amount. Also at the request of the Library, which operates on a June 30 fiscal year, the distribution was changed to a June 30 annual distribution, and the average annual value of the assets is determined using June 30 fiscal year values. The Trustees send monthly investment statements to the Library for review and communicate with Library officials in person or by telephone as needs arise for a distribution from the sinking fund and whenever representatives of the Library wish to speak with a representative of the Trust. Each year, the Trustees provide the Library with a copy of the trust's annual return, an annual accounting, and a letter showing the calculation of the support to be provided for the coming year -- as well as the required annual notification (describing the type and amount of support provided during the prior year). Each year, the Trustees meet in person with the Library's Board of Trustees, officers and the wing librarians to review the Trust's administration, investment performance and distributions, and the Library's needs. The Business and Music Services librarians report on their programs and program needs. The Trustees report on the amount available for distribution from the Trust for the wing's maintenance and operations, as determined using an endowment-type formula designed to provide for the short- and long-term needs of the Business and Music wing. The Trustees report on the Trust's investment policy and performance, and the Trust's investment managers make presentations and respond to questions from the Library's Board of Trustee regarding asset allocation strategy and investments. The Library's director presents the Town's budget for the Library and the budget proposed for the wing, and the Trustees vote on the wing's budget. Minutes are kept of the annual meetings. The Greenwich Library is the supported organization listed in Part I, Line 12g, column (i), to which the Trust is responsive and which is attentive to the Trust. All of the Trusts's distributions are made to the Library for its Business and Music Wing. As described above, the Trust's relationship with the Library and the Library's significant voice in the Trust's operations satisfy the "responsiveness test." The Trust's distributions to the Library are more than sufficient to ensure its continuing attentiveness. When the Trust was created, the Trustees adopted the Library's Business Section and Recorded Music Section as the Trusts's mission. The Trustees expended approximately two-thirds of the original assets of the Trust to fund the Library's purchase of land and construction of a new Business and Music Wing to house those operations. The Trust's annual distributions fund all of the Business and Music Wing's maintenance and operating expenses, as well as capital repairs to the Wing, and the Trust's distributions are a major factor in determining the Library's budget for the Wing. Historically, the amount distributed by the Trust has represented from 25% to 80% of the Library's total annual support.ExplanationTxt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (4 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
TIFF Multi Asset Fund$3,933,912F
Trilantic Capital Partners IV$102,037F
TIFF Short Term Fund$1,235F
Tailwind Capital Partners$790,390F
FieldValueIRS element (for citing)
Total Book Value Securities$4,827,574TotalBookValueSecuritiesAmt

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp

FieldValueIRS element (for citing)
RegionCentral America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,RegionTxt
Type Of Activities ConductedInvestmentsTypeOfActivitiesConductedTxt
Region Total Expenditures$702,735RegionTotalExpendituresAmt
FieldValueIRS element (for citing)
Subtotal Offices0SubtotalOfficesCnt
Subtotal Employees0SubtotalEmployeesCnt
Continuation Total Office0ContinuationTotalOfficeCnt
Continuation Total Employee0ContinuationTotalEmployeeCnt
Total Office0TotalOfficeCnt
Total Employee0TotalEmployeeCnt
Subtotal Spent$702,735SubtotalSpentAmt
Continuation Spent$0ContinuationSpentAmt
Total Spent$702,735TotalSpentAmt
Transfer To Foreign Corp0TransferToForeignCorpInd
Interest In Foreign Trust0InterestInForeignTrustInd
Foreign Corp Ownership0ForeignCorpOwnershipInd
Passive Foreign Investmest Co0PassiveForeignInvestmestCoInd
Foreign PartnershipYes (1)ForeignPartnershipInd
Boycott Countries0BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart III Accounting Method:FormAndLineReferenceDesc

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1The Greenwich LibraryBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 West Putnam AveAddressLine1Txt
CityGreenwichCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06830ZIPCd
FieldValueIRS element (for citing)
Recipient EIN066002281RecipientEIN
IRC Section501(c)(3)/509(a)(1)IRCSectionDesc
Cash Grant$1,186,500CashGrantAmt
Purpose Of GrantSupport of the Greenwich Library WingPurposeOfGrantTxt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule I, Line 2FormAndLineReferenceDesc
ExplanationSee Schedule A, Part VIExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Section A, line 7aIf Howard S. Tuthill, III or any successor to him ceases to act as a Trustee, the law firm of Cummings & Lockwood, LLC may appoint a sucessor Trustee.
Form 990, Part VI, Section B, line 11bThe return was prepared under the supervision and direction of Howard S. Tuthill, III, the Trustee who reviewed the return in detail before signing and filing it. No review of the return by the Trustees, as a group, is planned. Howard S. Tuthill, III addresses the questions regarding the return when they are raised by the other Trustees. A copy is provided to each Trustee before filing.
Form 990, Part VI, Section B, line 12cAll of the Trustees are covered by the Conflicts Policy. The disclosure statement covers not only the relationships that might give rise to a conflict of interest with respect to the Trust, but also with respect to its supported organization, the Greenwich Library. None of the Trustees is related to any other Trustee by business, employment, or family relationships. Trust investments are managed, subject to the Trustees' supervision, by unrelated investment managers. The Greenwich Library does not employ or otherwise pay compensation to any of the Trustees, their family members, or related entities. If an investment or proposed investment would confer or could or might provide a financial benefit, directly or indirectly, on or to a Trustee, that Trustee would be prohibited from participating in decisions regarding that investment, and the Trustees not having a potential conflict of interest would review the proposed investment and any action to be taken in connection with such an existing investment to confirm that it was reasonable and fair to the Trust and in its best interest and would not constitute an excess benefit transaction.
Form 990, Part VI, Section C, line 19The Trust's governing document is available to the public as part of its Form 1023 exemption application package, and is also a matter of public record in the Commonwealth of Pennsylvania, County of Chester Orphan's Court Division of the Court of Common Pleas. The other documents listed are not available to the general public.
Form 990, Part VII, Line 1a(B)The Trust supports The Greenwich Library, which is a related organization to the Trust. Some of the time spent by the Trustees in administering the Trust benefits the Library, but none of the Trustees devotes any time to the Library, except as it is benefited as the named beneficiary of the Trust, by their services to the Trust (e.g., holding meetings with the Library's Board to review the Trust's investment performance, income, expenses and distributions to the Library and the Library's budgeted needs--see Schedule A, Part VI).
Form 990, Part XI, line 9:Reconcile calendar year Partnership Sch. K-1s to fiscal year transactions 81,486. Unrealized gains/losses on assets marked to market 8,777,213. Rounding adjustment 1.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1The Greenwich LibraryBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1101 West Putnam AveAddressLine1Txt
CityGreenwichCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06830ZIPCd
FieldValueIRS element (for citing)
EIN066002281EIN
Primary ActivitiesPublic LibraryPrimaryActivitiesTxt
Legal Domicile StateCTLegalDomicileStateCd
Exempt Code Section501(c)(3)ExemptCodeSectionTxt
Public Charity StatusLine 7PublicCharityStatusTxt
Direct Controlling NAN/ADirectControllingNACd
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

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