CLEMENTINE LOCKWOOD PETERSON FOUNDATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- CLEMENTINE LOCKWOOD PETERSON FOUNDATION (EIN 06-6377136)
- Tax period
- 2024-04-01 to 2025-03-31
- Filed
- 2025-11-18
- IRS object ID
- 202503229349301915
- Schema version
- 2024v5.2
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-18T09:40:00-06:00 | ReturnTs |
| Tax Period End | 2025-03-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 060312590 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Cummings & Lockwood LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 120 | AddressLine1Txt |
| City | Stamford | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 069040120 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-04-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 066377136 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLEMENTINE LOCKWOOD PETERSON FOUNDATION | BusinessNameLine1Txt |
| Business Name Line2 | c/o Cummings & Lockwood (HST III) | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CLEM | BusinessNameControlTxt |
| Phone | 2033514308 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 120 | AddressLine1Txt |
| City | Stamford | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 069040120 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Howard S Tuthill III | PersonNm |
| Person Title | Trustee | PersonTitleTxt |
| Phone | 2033514308 | PhoneNum |
| Signature | 2025-11-18 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Albert C Rua | PreparerPersonNm |
| PTIN | P00465056 | PTIN |
| Phone | 2033514308 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Howard S Tuthill III | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 120 | AddressLine1Txt |
| City | Stamford | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 069040120 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,150,169 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Trust | Yes (X) | TypeOfOrganizationTrustInd |
| Formation | 1992 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | Support of the Greenwich Library Wing, the construction of which was funded by the Trust. | ActivityOrMissionDesc |
| Voting Members Governing Body | 3 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 1 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | -$855 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,221,155 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,074,527 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$6,321 | PYOtherRevenueAmt |
| CY Other Revenue | $75,642 | CYOtherRevenueAmt |
| PY Total Revenue | $1,214,834 | PYTotalRevenueAmt |
| CY Total Revenue | $1,150,169 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,256,341 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,238,045 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $163,227 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $172,998 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $138,292 | PYOtherExpensesAmt |
| CY Other Expenses | $156,168 | CYOtherExpensesAmt |
| PY Total Expenses | $1,557,860 | PYTotalExpensesAmt |
| CY Total Expenses | $1,567,211 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$343,026 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$417,042 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $31,879,585 | TotalAssetsBOYAmt |
| Total Assets EOY | $32,229,119 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $31,879,585 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $32,229,119 | NetAssetsOrFundBalancesEOYAmt |
| Mission | To 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 Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,365,373 | ExpenseAmt |
| Grant | $1,238,045 | GrantAmt |
| Desc | Clementine 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 3/31/24, 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 | $1,365,373 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 3 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 1 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Cummings & Lockwood (HST III) | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2033514308 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Six Landmark Square | AddressLine1Txt |
| City | Stamford | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|
| F Michael Donohue IV | |||||
| Trustee | 10.00 | Yes (X) | $57,666 | $0 | $0 |
| D Mark Gaston | |||||
| Trustee | 10.00 | Yes (X) | $57,666 | $0 | $0 |
| Howard S Tuthill III | |||||
| Trustee | 10.00 | Yes (X) | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $115,332 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Design Wealth AdvisorsLPL Financial | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4250 Executive Square Suite 800 | AddressLine1Txt |
| City | La Jolla | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92037 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | Investment Services | ServicesDesc |
| Compensation | $132,177 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $713,063 | TotalRevenueColumnAmt |
| Exclusion | $713,063 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $361,464 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $361,464 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $361,464 | TotalRevenueColumnAmt |
| Exclusion | $361,464 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Partnerships, per Sch. K-1s | Desc |
| Business | 523000 | BusinessCd |
| Total Revenue Column | $75,642 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$855 | UnrelatedBusinessRevenueAmt |
| Exclusion | $76,497 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $75,642 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,150,169 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$855 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,151,024 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,238,045 | TotalAmt |
| Program Services | $1,238,045 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $172,998 | TotalAmt |
| Program Services | $115,332 | ProgramServicesAmt |
| Management And General | $57,666 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,991 | TotalAmt |
| Program Services | $11,996 | ProgramServicesAmt |
| Management And General | $11,995 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,177 | TotalAmt |
| Management And General | $132,177 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,567,211 | TotalAmt |
| Program Services | $1,365,373 | ProgramServicesAmt |
| Management And General | $201,838 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,410,294 | BOYAmt |
| EOY | $30,626,302 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,469,291 | BOYAmt |
| EOY | $1,602,817 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,879,585 | BOYAmt |
| EOY | $32,229,119 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,445,053 | BOYAmt |
| EOY | $27,445,053 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,434,532 | BOYAmt |
| EOY | $4,784,066 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,879,585 | BOYAmt |
| EOY | $32,229,119 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,879,585 | BOYAmt |
| EOY | $32,229,119 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$417,042 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $766,576 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type3 Non Func | Yes (X) | SupportingOrgType3NonFuncInd |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Greenwich Library | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 066002281 | EIN |
| Organization Type | 7 | OrganizationTypeCd |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Support | $1,238,045 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $1,238,045 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | Yes (1) | ExcessBusinessHoldingsRulesInd |
| Excess Business Holdings | 0 | ExcessBusinessHoldingsInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timely Provided Documents | Yes (1) | TimelyProvidedDocumentsInd |
| Officers Close Relationship | 0 | OfficersCloseRelationshipInd |
| Supported Org Voice Investment | Yes (1) | SupportedOrgVoiceInvestmentInd |
Adjusted Net Income AdjustedNetIncomeGrp
Net ST Capital Gain Adj Net Incm NetSTCapitalGainAdjNetIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $633,603 | PriorYearAmt |
| Current Year | $361,464 | CurrentYearAmt |
Recoveries PY Distributions RecoveriesPYDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $0 | PriorYearAmt |
| Current Year | $0 | CurrentYearAmt |
Other Gross Income OtherGrossIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $587,552 | PriorYearAmt |
| Current Year | $713,063 | CurrentYearAmt |
Adjusted Gross Income AdjustedGrossIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $1,221,155 | PriorYearAmt |
| Current Year | $1,074,527 | CurrentYearAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $0 | PriorYearAmt |
| Current Year | $0 | CurrentYearAmt |
Production Income ProductionIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $179,840 | PriorYearAmt |
| Current Year | $201,838 | CurrentYearAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $0 | PriorYearAmt |
| Current Year | $0 | CurrentYearAmt |
Total Adjusted Net Income TotalAdjustedNetIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $1,041,315 | PriorYearAmt |
| Current Year | $872,689 | CurrentYearAmt |
Minimum Asset Amount MinimumAssetAmountGrp
Average Monthly FMV Of Sec AverageMonthlyFMVOfSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $29,977,598 | PriorYearAmt |
| Current Year | $32,345,241 | CurrentYearAmt |
Average Monthly Cash Balances AverageMonthlyCashBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $0 | PriorYearAmt |
| Current Year | $0 | CurrentYearAmt |
FMV Other Non Exempt Use Asset FMVOtherNonExemptUseAssetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $0 | PriorYearAmt |
| Current Year | $0 | CurrentYearAmt |
Total FMV Of Non Exempt Use Asset TotalFMVOfNonExemptUseAssetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $29,977,598 | PriorYearAmt |
| Current Year | $32,345,241 | CurrentYearAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Discount Claimed | $0 | DiscountClaimedAmt |
Acquisition Indebtedness AcquisitionIndebtednessGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $0 | PriorYearAmt |
| Current Year | $0 | CurrentYearAmt |
Adjusted FMV Less Indebtedness AdjustedFMVLessIndebtednessGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $29,977,598 | PriorYearAmt |
| Current Year | $32,345,241 | CurrentYearAmt |
Cash Deemed Charitable CashDeemedCharitableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $449,664 | PriorYearAmt |
| Current Year | $485,179 | CurrentYearAmt |
Net Vl Non Exempt Use Assets NetVlNonExemptUseAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $29,527,934 | PriorYearAmt |
| Current Year | $31,860,062 | CurrentYearAmt |
Pct Of Net Vl Non Exempt Use Ast PctOfNetVlNonExemptUseAstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $1,033,478 | PriorYearAmt |
| Current Year | $1,115,102 | CurrentYearAmt |
Recoveries PY Distri Min Asset RecoveriesPYDistriMinAssetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $0 | PriorYearAmt |
| Current Year | $0 | CurrentYearAmt |
Total Minimum Asset TotalMinimumAssetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year | $1,033,478 | PriorYearAmt |
| Current Year | $1,115,102 | CurrentYearAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| CY Adj Net Income Distributable | $1,041,315 | CYAdjNetIncomeDistributableAmt |
| CY Pct85 Adjusted Net Income | $885,118 | CYPct85AdjustedNetIncomeAmt |
| CY Total Min Ast Distributable | $1,033,478 | CYTotalMinAstDistributableAmt |
| CY Greater Adjusted Minimum | $1,033,478 | CYGreaterAdjustedMinimumAmt |
| CY Income Tax Imposed PY | $0 | CYIncomeTaxImposedPYAmt |
| CY Distributable As Adjusted | $1,033,478 | CYDistributableAsAdjustedAmt |
Distributions DistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| CY Paid Accomplish Exempt Prps | $1,238,045 | CYPaidAccomplishExemptPrpsAmt |
| CY Pd In Excess Income Activity | $0 | CYPdInExcessIncomeActivityAmt |
| CY Administrative Expense Paid | $0 | CYAdministrativeExpensePaidAmt |
| Exempt Use Assets Acquis Paid | $0 | ExemptUseAssetsAcquisPaidAmt |
| Qualified Set Aside | $0 | QualifiedSetAsideAmt |
| CY Other Distributions | $0 | CYOtherDistributionsAmt |
| CY Total Annual Distributions | $1,238,045 | CYTotalAnnualDistributionsAmt |
| CY Distri Attentive Suprt Org | $1,238,045 | CYDistriAttentiveSuprtOrgAmt |
| CY Distributable As Adjusted | $1,033,478 | CYDistributableAsAdjustedAmt |
| CY Distribution Yr | 100.000000000000 | CYDistributionYrRt |
Distribution Allocations DistributionAllocationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| CY Distributable As Adjusted | $1,033,478 | CYDistributableAsAdjustedAmt |
| Underdistributions | $0 | UnderdistributionsAmt |
| Excess Distribution Cyov Yr5 | $0 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $0 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $442,442 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $1,218,952 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $1,229,416 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $2,890,810 | TotalExcessDistributionCyovAmt |
| Cyov Applied Underdistri PY | $0 | CyovAppliedUnderdistriPYAmt |
| Cyov Applied Underdistr CPY | $1,033,478 | CyovAppliedUnderdistrCPYAmt |
| Carryover PY Not Applied | $0 | CarryoverPYNotAppliedAmt |
| Excess Distribution Cyov | $1,857,332 | ExcessDistributionCyovAmt |
| CY Total Annual Distributions | $1,238,045 | CYTotalAnnualDistributionsAmt |
| CY Distrib App Underdistri PY | $0 | CYDistribAppUnderdistriPYAmt |
| Excess Distribution | $1,238,045 | ExcessDistributionAmt |
| Remaining Underdistri PY | $0 | RemainingUnderdistriPYAmt |
| Remaining Underdistri CY | $0 | RemainingUnderdistriCYAmt |
| Excess Distri Cyov To Next Yr | $3,095,377 | ExcessDistriCyovToNextYrAmt |
| Excess From Year5 | $0 | ExcessFromYear5Amt |
| Excess From Year4 | $0 | ExcessFromYear4Amt |
| Excess From Year3 | $627,916 | ExcessFromYear3Amt |
| Excess From Year2 | $1,229,416 | ExcessFromYear2Amt |
| Excess From Year1 | $1,238,045 | ExcessFromYear1Amt |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part IV, Sec. D, Lines 2 & 3, and Part V, Sec. D, Line 8: | FormAndLineReferenceDesc |
| Explanation | Clementine 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 14% 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 F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, | RegionTxt |
| Type Of Activities Conducted | Investments | TypeOfActivitiesConductedTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $0 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $0 | TotalSpentAmt |
| Transfer To Foreign Corp | 0 | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | 0 | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Greenwich Library | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 101 West Putnam Ave | AddressLine1Txt |
| City | Greenwich | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06830 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 066002281 | RecipientEIN |
| IRC Section | 501(c)(3)/509(a)(1) | IRCSectionDesc |
| Cash Grant | $1,238,045 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Non Cash Assistance | Support of the Greenwich Library Wing | NonCashAssistanceDesc |
| Purpose Of Grant | Support of the Greenwich Library Wing | PurposeOfGrantTxt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Line 2 | FormAndLineReferenceDesc |
| Explanation | See Schedule A, Part VI | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 7a | If 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 11b | The 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 12c | All 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 19 | The 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: | Unrealized gains/losses on assets marked to market 766,576. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Greenwich Library | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 101 West Putnam Ave | AddressLine1Txt |
| City | Greenwich | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06830 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 066002281 | EIN |
| Primary Activities | Public Library | PrimaryActivitiesTxt |
| Legal Domicile State | CT | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | Line 7 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
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