Boothbay Harbor Memorial Library Association
- Assets
- $2.7m
- Revenue
- $462.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Boothbay Harbor, ME
- Founding
- 12/1966
- Data as of
- 12/2021
- EIN
- 01-0224627
Organization Overview
Boothbay Harbor Memorial Library Association is located in Boothbay Harbor, ME. The organization was established in 1966. As of 12/2021, Boothbay Harbor Memorial Library Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boothbay Harbor Memorial 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 12/2021, Boothbay Harbor Memorial Library Association generated $462.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $378.0k during the year ending 12/2021. While expenses have increased by 3.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A FREE PUBLIC LIBRARY AND CREATE A WELCOMING SPACE IN WHICH TO EXPLORE IDEAS, CREATE COMMUNITY AND NURTURE INDIVIDUAL GROETH VIA OPEN ACCESS TO THE TOOLS TO LEARN, DREAM, CONNECT AND DO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE A FREE WELCOMING ATMOSPHERE WHERE INDIVIDUALS CAN COME TO EXPLORE IDEAS, CREATE COMMUNITY AND NURTURE INDIVIDUAL GROWTH VIA ACCESS TO THE TOOLS TO LEARN, DREAM., CONNECT AND DO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Scorcia Treasurer | Officer | 1 | $0 |
Jane B Hahn Vice President | Officer | 1 | $0 |
Rita Arnold Secretary | Officer | 1 | $0 |
Marion Coleman President | Officer | 1 | $0 |
Karen Jones Trustee | Trustee | 1 | $0 |
Jill Kaplan Tupper Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $105 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,243 |
| All other contributions, gifts, grants, and similar amounts not included above | $347,468 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $356,816 |
| Total Program Service Revenue | $267 |
| Investment income | $26,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $71,295 |
| Net Income from Fundraising Events | $6,757 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $462,784 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $184,074 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,356 |
| Payroll taxes | $14,082 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,697 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,626 |
| Advertising and promotion | $1,588 |
| Office expenses | $5,353 |
| Information technology | $6,313 |
| Royalties | $0 |
| Occupancy | $40,268 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $294 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,723 |
| Insurance | $10,755 |
| All other expenses | $9,949 |
| Total functional expenses | $377,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,419 |
| Savings and temporary cash investments | $327,812 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,268 |
| Net Land, buildings, and equipment | $1,268,290 |
| Investments—publicly traded securities | $1,103,658 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,729,447 |
| Accounts payable and accrued expenses | $10,347 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $10,347 |
| Net assets without donor restrictions | $2,675,526 |
| Net assets with donor restrictions | $43,574 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,729,447 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Boothbay Harbor Memorial Library Association has recieved totaling $14,347.
| Awarding Organization | Amount |
|---|---|
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Libraries | $9,993 |
Edward S Dunton Charitable Re Trust Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $4,240 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $76 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $38 |
Endowment Analysis
| Beg. Balance | $1,022,811 |
| Earnings | $143,423 |
| Admin Expense | $7,698 |
| Net Contributions | $598 |
| Other Expense | $39,205 |
| Ending Balance | $1,119,929 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Portland Public Library Portland, ME | $16,295,228 | $9,283,612 |
Brunswick Public Library Association Brunswick, ME | $4,573,587 | $2,568,620 |
Scarborough Public Library Scarborough, ME | $2,438,675 | $1,994,735 |
Auburn Public Library Auburn, ME | $5,986,065 | $1,411,644 |
Mcarthur Library Association Biddeford, ME | $6,852,338 | $1,542,139 |
Patten Free Library Bath, ME | $10,442,348 | $1,415,338 |
Falmouth Memorial Library Association Falmouth, ME | $4,237,276 | $754,960 |
Dyer Library Association Saco, ME | $3,666,585 | $1,182,445 |
Jesup Memorial Library Bar Harbor, ME | $8,465,074 | $2,324,945 |
Blue Hill Public Library Inc Blue Hill, ME | $11,273,256 | $1,954,508 |
Skidompha Library Assoc Damariscotta, ME | $4,644,240 | $651,965 |
Northeast Harbor Library Northeast Harbor, ME | $11,707,277 | $1,018,426 |