Kennebunk Free Library Association
- Assets
- $2.3m
- Revenue
- $924.6k
- Investments
- $0.0
- Employees
- 25
- Location
- Kennebunk, ME
- Founding
- 10/1944
- Data as of
- 06/2023
- EIN
- 01-0249983
Organization Overview
Kennebunk Free Library Association is located in Kennebunk, ME. The organization was established in 1944. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2023, Kennebunk Free Library Association employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kennebunk Free 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 06/2023, Kennebunk Free Library Association generated $924.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE AND ENABLE OUR COMMUNITIES TO DISCOVER, LEARN AND CONNECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROVIDES A PUBLIC LIBRARY TO THE TOWNS OF KENNEBUNK AND ARUNDEL WITH A POPULATION OF APPROXIMATELY 16,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Braun Treasurer | Trustee | 4 | $0 |
Ruth Dater Trustee | Trustee | 4 | $0 |
Linda Deflice Vice President | Trustee | 4 | $0 |
Rosemary Lavoie President | Trustee | 4 | $0 |
Laura Dauphinais Trustee | Trustee | 4 | $0 |
Louise Sandmeyer Trustee | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $637,690 |
| All other contributions, gifts, grants, and similar amounts not included above | $205,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $842,710 |
| Total Program Service Revenue | $5,516 |
| Investment income | $40,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$19,941 |
| Net Income from Fundraising Events | $53,278 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $924,642 |
| 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. | $79,332 |
| Compensation of current officers, directors, key employees. | $39,666 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $560,028 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $101,360 |
| Payroll taxes | $47,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,251 |
| Fees for services: Other | $6,437 |
| Advertising and promotion | $2,297 |
| Office expenses | $6,760 |
| Information technology | $17,591 |
| Royalties | $0 |
| Occupancy | $36,531 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,388 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $88,624 |
| Insurance | $10,371 |
| All other expenses | $5,664 |
| Total functional expenses | $1,094,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,916 |
| Savings and temporary cash investments | $76,435 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,000 |
| 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 | $3,193 |
| Net Land, buildings, and equipment | $462,786 |
| Investments—publicly traded securities | $1,685,220 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,305,550 |
| Accounts payable and accrued expenses | $24,274 |
| Grants payable | $0 |
| Deferred revenue | $43,273 |
| 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 | $67,547 |
| Net assets without donor restrictions | $2,169,608 |
| Net assets with donor restrictions | $68,395 |
| 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 | $2,305,550 |