Sanford Library Association
- Assets
- $2.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Sanford, ME
- Founding
- 04/1987
- Data as of
- 06/2023
- EIN
- 01-0216657
Organization Overview
Sanford Library Association is located in Sanford, ME. The organization was established in 1987. 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, Sanford Library Association employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sanford 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, Sanford Library Association generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $606.9k during the year ending 06/2023. While expenses have increased by 1.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SANFORD LIBRARY ASSOCIATION IS A PUBLIC LIBRARY WHICH PROVIDES BOOKS AND PROGRAMS TO THE RESIDENTS OF THE TOWN OF SANFORD AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIBRARY BOOKS AND PROGRAMS TO SERVE THE TOWN OF SANFORD AND THE SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Schrader Director | OfficerTrustee | 40 | $65,510 |
Albert Pollard Emeritus | Trustee | 1 | $0 |
Suzanne Zimmer Director | Trustee | 1 | $0 |
Tony Bauer Treasurer | OfficerTrustee | 1 | $0 |
Savina Hutchinson President | OfficerTrustee | 1 | $0 |
Julie Norsworthy Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $397,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $585,841 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $983,016 |
| Total Program Service Revenue | $9,352 |
| Investment income | $59,570 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,056,938 |
| 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. | $65,510 |
| Compensation of current officers, directors, key employees. | $65,510 |
| Compensation to disqualified persons | $263,662 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $14,000 |
| Other employee benefits | $66,588 |
| Payroll taxes | $24,638 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,114 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,240 |
| Office expenses | $7,928 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,697 |
| 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 | $23,396 |
| Insurance | $3,703 |
| All other expenses | $3,518 |
| Total functional expenses | $606,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,059 |
| Savings and temporary cash investments | $893,522 |
| 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 | $1,015,691 |
| Investments—publicly traded securities | $764,670 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $122,906 |
| Total assets | $2,816,848 |
| Accounts payable and accrued expenses | $3,495 |
| 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 | $15,259 |
| Total liabilities | $18,754 |
| Net assets without donor restrictions | $2,798,094 |
| 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 | $2,816,848 |