Buck Memorial Library
- Assets
- $2.6m
- Revenue
- $223.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Bucksport, ME
- Founding
- 06/1950
- Data as of
- 12/2022
- EIN
- 01-0215913
Organization Overview
Buck Memorial Library is located in Bucksport, ME. The organization was established in 1950. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buck Memorial 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 12/2022, Buck Memorial Library generated $223.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $148.9k during the year ending 12/2022. 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
LIBRARY SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE PUBLIC ACCESS LIBRARY COVERING THE TOWNS OF BUCKSPORT, ORLAND AND VERONA ISLAND MAINE WITH A COMBINED POPULATION OF APROXIMATELY 5,000.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Hayduk Vice President | OfficerTrustee | 10 | $0 |
Joni Wardwell Secretary | OfficerTrustee | 5 | $0 |
Doug Knobloch President | OfficerTrustee | 16 | $0 |
Valorie Shaffner Treasurer | OfficerTrustee | 10 | $0 |
Wendy Carpenter Trustee | Trustee | 10 | $0 |
Larry Wahl Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,338 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,039 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,377 |
| Total Program Service Revenue | $0 |
| Investment income | $69,684 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100,126 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $223,271 |
| 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 | $52,250 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,668 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,220 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,999 |
| Office expenses | $0 |
| Information technology | $378 |
| Royalties | $0 |
| Occupancy | $19,922 |
| 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 | $0 |
| Insurance | $2,295 |
| All other expenses | $0 |
| Total functional expenses | $148,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,939 |
| Savings and temporary cash investments | $0 |
| 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 | $420,000 |
| Investments—publicly traded securities | $2,130,146 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,576,085 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,510,125 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $65,960 |
| Total liabilities and net assets/fund balances | $2,576,085 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Buck Memorial Library has recieved totaling $7,229.
| Awarding Organization | Amount |
|---|---|
Bangor Savings Bank Foundation Bangor, ME PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
Celia S Pratt Tr Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $2,223 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $6 |
Endowment Analysis
| Beg. Balance | $80,066 |
| Earnings | $381 |
| Other Expense | $14,487 |
| Ending Balance | $65,960 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bangor Public Library Trustees Bangor, ME | $25,795,919 | $2,775,295 |
Maine Peoples Resource Center Portland, ME | $2,139,124 | $2,704,072 |
Rockport Library Foundation Rockport, ME | $310,933 | $664,921 |
The Upper Room A Family Resource Center Derry, NH | $2,012,046 | $1,533,126 |
York Public Library Association Inc York, ME | $7,085,661 | $941,036 |
Kennebunk Free Library Association Kennebunk, ME | $2,344,059 | $951,000 |
Topsham Public Library Topsham, ME | $1,623,953 | $916,950 |
Meredith Library Fund Meredith, NH | $40,551 | $10,850 |
Park Street Foundation Concord, NH | $304,435 | $636,101 |
Sanford Library Association Sanford, ME | $2,367,641 | $997,039 |
Trustees Of Merrill Memorial Library Yarmouth, ME | $4,155,143 | $731,086 |
Southwest Harbor Public Library Southwest Harbor, ME | $5,912,644 | $804,852 |