Rangeley Library Association
- Assets
- $1.7m
- Revenue
- $158.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Rangeley, ME
- Founding
- 06/1959
- Data as of
- 06/2022
- EIN
- 01-0147000
Organization Overview
Rangeley Library Association is located in Rangeley, ME. The organization was established in 1959. As of 06/2022, Rangeley Library Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rangeley Library Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Rangeley Library Association generated $158.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $203.5k during the year ending 06/2022. While expenses have increased by 2.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE RURAL PUBLIC LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES THE PUBLIC LIBRARY IN THE TOWN OF RANGELEY MAINE, A RURAL COMMUNITY IN NORTHWEST MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Burgess Treasurer | OfficerTrustee | 20 | $9,880 |
Claire Chase Director | Trustee | 2 | $0 |
Judith Wicken Director | Trustee | 2 | $0 |
Nancy Douglas President | Trustee | 2 | $0 |
Sharon Cyr Director | Trustee | 2 | $0 |
John Burgess Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $131,074 |
| Investment income | $4,518 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$200 |
| Net Income from Fundraising Events | $20,757 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,336 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $158,485 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $9,880 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $81,334 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $300 |
| Payroll taxes | $6,222 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $569 |
| Fees for services: Other | $136 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,828 |
| Royalties | $0 |
| Occupancy | $27,792 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,389 |
| Insurance | $6,025 |
| All other expenses | $0 |
| Total functional expenses | $203,484 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $52,988 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,480 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,141 |
| Prepaid expenses and deferred charges | $372 |
| Investments—publicly traded securities | $889,929 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,668,594 |
| Accounts payable and accrued expenses | $7,057 |
| Grants payable | $0 |
| Deferred revenue | $42,320 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,377 |
| Net assets without donor restrictions | $786,666 |
| Net assets with donor restrictions | $832,551 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,619,217 |