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Finance subcommittee reviews endowment relationships, assigns follow-ups on tax filings and onboarding
Summary
The Kent Memorial Library Commission Finance Subcommittee reviewed the history and interrelationships of library endowment and foundation accounts, clarified who might be responsible for filing federal Form 990 returns and assigned follow-up contacts; the group approved prior minutes and adjourned.
The Kent Memorial Library Commission Finance Subcommittee met on June 11, 2026, in Suffield and reviewed the history and interrelationships of the General Endowment Fund, the Capital Account, the Fuller Memorial Fund and the Suffield Public Library Foundation. Chair Ray Dalrymple opened the meeting and the subcommittee approved the minutes from March 25, 2026, by unanimous vote.
Chris Childs reviewed the funds’ history and how the various accounts relate to one another. Subcommittee members Michael Alexopoulos, Claire Kawalec and Despina Tartsinis contributed additional historical context. Amy Vessella described how she decides which account or entity to approach when requesting funding for materials, programs or capital needs.
The subcommittee discussed who is responsible for filing federal Form 990 returns for the related entities. Chair Ray Dalrymple said he had spoken with Mandi Moore, who suggested that Ken Pascoe’s office may have prepared past filings. Dalrymple said he will contact Ken Pascoe’s office and Michael VanDeventer of Mahoney Sabol to confirm past practice and clarify which entity should file going forward.
Dalrymple also reported he is preparing initiation materials for new subcommittee members to improve onboarding and institutional continuity. No formal decisions to change account structures or transfers were recorded; the meeting focused on information-sharing and administrative follow-up.
The subcommittee approved a motion to accept the March 25, 2026 minutes (moved by Chair Ray Dalrymple; seconded by Claire Kawalec) and later approved a motion to adjourn at 8:06 PM (moved by Ray Dalrymple; seconded by Claire Kawalec). The meeting minutes were later filed by Michele Urch on June 16, 2026.
