Sanford Library Association
- Assets
- $2.4m
- Revenue
- $997.0k
- Investments
- $0.0
- Employees
- 11
- Location
- Sanford, ME
- Founding
- 04/1987
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Sanford Library Association generated $997.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $593.1k during the year ending 06/2022. While expenses have increased by 1.8% 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
2022
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 Library Manager | OfficerTrustee | 40 | $60,730 |
Tony Bauer Treasurer | OfficerTrustee | 1 | $0 |
Savina Hutchinson Vice President | OfficerTrustee | 1 | $0 |
Albert Pollard President | OfficerTrustee | 1 | $0 |
Christopher Winchester Secretary | OfficerTrustee | 1 | $0 |
Suzanne Zimmer 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 | $522,901 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $920,076 |
| Total Program Service Revenue | $10,768 |
| Investment income | $51,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,000 |
| 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 | $997,039 |
| 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. | $60,730 |
| Compensation of current officers, directors, key employees. | $60,730 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $259,792 |
| Pension plan accruals and contributions | $14,597 |
| Other employee benefits | $57,419 |
| Payroll taxes | $24,673 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,453 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,659 |
| Office expenses | $8,849 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,613 |
| 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 | $24,727 |
| Insurance | $3,503 |
| All other expenses | $11,085 |
| Total functional expenses | $593,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,813 |
| Savings and temporary cash investments | $545,469 |
| 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 | $1,039,087 |
| Investments—publicly traded securities | $732,579 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,693 |
| Total assets | $2,367,641 |
| Accounts payable and accrued expenses | $6,936 |
| 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 | $12,699 |
| Total liabilities | $19,635 |
| Net assets without donor restrictions | $2,348,006 |
| 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 | $2,367,641 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sanford Library Association has recieved totaling $8,650.
| Awarding Organization | Amount |
|---|---|
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Libraries | $8,650 |
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 |