Bagaduce Music Lending Library
- Assets
- $3.2m
- Revenue
- $292.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Blue Hill, ME
- Founding
- 09/1984
- Data as of
- 12/2021
- EIN
- 22-2537865
Organization Overview
Bagaduce Music Lending Library is located in Blue Hill, ME. The organization was established in 1984. As of 12/2021, Bagaduce Music Lending Library employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bagaduce Music Lending Library 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, Bagaduce Music Lending Library generated $292.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $368.3k during the year ending 12/2021. 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
TO COLLECT, PRESERVE, AND LEND PRINTED MUSIC AND TO PROMOTE APPRECIATION, KNOWLEDGE, AND PERFORMANCE OF MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION COLLECTS, PRESERVES AND LENDS PRINTED MUSIC AND PROVIDES MUSIC EDUCATION PROGRAMS. AS A RESULT OF THE COVID19 PANDEMIC THE MAJORITY OF PROGRAMMING WAS SUSPENDED DURING 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barb Kourajian Vice Preside | OfficerTrustee | 1 | $0 |
Parker Jayne President | OfficerTrustee | 1 | $0 |
Rich Howe Treasurer | OfficerTrustee | 1 | $0 |
Michael Sinclair Secretary | OfficerTrustee | 1 | $0 |
Sarah J Adams Trustee | Trustee | 1 | $0 |
David Nelson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,685 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,724 |
| All other contributions, gifts, grants, and similar amounts not included above | $173,038 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,447 |
| Total Program Service Revenue | $52,149 |
| Investment income | $15,747 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,537 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $292,880 |
| 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 | $140,936 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $658 |
| Payroll taxes | $10,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,162 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,851 |
| Fees for services: Other | $51,079 |
| Advertising and promotion | $7,280 |
| Office expenses | $12,939 |
| Information technology | $15,348 |
| Royalties | $0 |
| Occupancy | $13,189 |
| Travel | $1,604 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $972 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,137 |
| Insurance | $7,411 |
| All other expenses | $0 |
| Total functional expenses | $368,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,157 |
| Savings and temporary cash investments | $12,555 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,089 |
| Prepaid expenses and deferred charges | $2,868 |
| Net Land, buildings, and equipment | $1,384,553 |
| Investments—publicly traded securities | $362,668 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,389,638 |
| Total assets | $3,191,542 |
| Accounts payable and accrued expenses | $10,842 |
| 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 | $10,842 |
| Net assets without donor restrictions | $3,066,366 |
| Net assets with donor restrictions | $114,334 |
| 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 | $3,191,542 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bagaduce Music Lending Library has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Prior Family Foundation St Thomas, VI PURPOSE: LENDING LIBRARY | $5,000 |
Endowment Analysis
| Beg. Balance | $380,787 |
| Earnings | $58,149 |
| Admin Expense | $3,872 |
| Net Contributions | $12,159 |
| Other Expense | $72,000 |
| Ending Balance | $375,223 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Judge Rotenberg Educational Center Inc Canton, MA | $44,183,993 | $90,766,696 |
Gordon College Wenham, MA | $215,426,952 | $107,400,748 |
Franklin Pierce University Rindge, NH | $94,215,029 | $91,004,046 |
Lasell University Newton, MA | $146,552,524 | $85,290,352 |
Milton Academy Milton, MA | $512,730,465 | $105,004,685 |
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
New England College Henniker, NH | $96,223,111 | $84,142,963 |
American International College Springfield, MA | $97,977,130 | $85,156,875 |
Dean College Franklin, MA | $117,492,231 | $77,417,313 |
Perkins School For The Blind Watertown, MA | $459,820,688 | $83,698,194 |
St Pauls School Concord, NH | $908,168,263 | $117,316,597 |