Louis T Graves Memorial Public Library Association
- Assets
- $4.7m
- Revenue
- $631.9k
- Investments
- $0.0
- Employees
- 11
- Location
- Kennebunkport, ME
- Founding
- 12/1942
- Data as of
- 12/2021
- EIN
- 01-0262394
Organization Overview
Louis T Graves Memorial Public Library Association is located in Kennebunkport, ME. The organization was established in 1942. As of 12/2021, Louis T Graves Memorial Public Library Association employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louis T Graves Memorial Public 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, Louis T Graves Memorial Public Library Association generated $631.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $404.5k during the year ending 12/2021. While expenses have increased by 3.6% 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 FREE PUBLIC LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LARGEST PROGRAM IS MAINTAINING THE LIBRARY THROUGH PURCHASES OF BOOKS AND LIBRARY MATERIALS, AND TO SUPPORT LIBRARY STAFF AND GENERAL OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary-Lou Boucouvalas Library Director | Officer | 40 | $68,307 |
Allyn Lamb President | OfficerTrustee | 4 | $0 |
Michael Donaghy Trustee | OfficerTrustee | 4 | $0 |
Lela Williams Trustee | OfficerTrustee | 4 | $0 |
Kristen Kuehnle Trustee | Trustee | 4 | $0 |
Connie Dykstra Trustee | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $174,689 |
| All other contributions, gifts, grants, and similar amounts not included above | $112,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $286,709 |
| Total Program Service Revenue | $0 |
| Investment income | $49,899 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $227,065 |
| Net Income from Fundraising Events | $62,032 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $631,926 |
| 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 | $184,634 |
| Pension plan accruals and contributions | $3,649 |
| Other employee benefits | $18,205 |
| Payroll taxes | $13,969 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,918 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,026 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,866 |
| 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 | $56,200 |
| Insurance | $0 |
| All other expenses | $12,712 |
| Total functional expenses | $404,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,579 |
| Savings and temporary cash investments | $375,360 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,633,796 |
| Investments—publicly traded securities | $2,691,946 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,740,681 |
| Accounts payable and accrued expenses | $0 |
| 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 | $32,717 |
| Total liabilities | $32,717 |
| Net assets without donor restrictions | $4,707,964 |
| Net assets with donor restrictions | $0 |
| 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 | $4,740,681 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Louis T Graves Memorial Public Library Association has recieved totaling $5,351.
| Awarding Organization | Amount |
|---|---|
William J J Gordon Family Foundation New York, NY PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
The Linda@hammett Ory & Andrew Ory Charitable Trust Lincoln, MA PURPOSE: GENERAL | $200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $151 |
Endowment Analysis
| Beg. Balance | $2,377,130 |
| Earnings | $343,716 |
| Admin Expense | $13,918 |
| Other Expense | $82,911 |
| Ending Balance | $2,624,017 |
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 |