Peabody Memorial Library
- Assets
- $694.0k
- Revenue
- $43.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Jonesport, ME
- Founding
- 04/1973
- Data as of
- 12/2021
- EIN
- 01-0318866
Organization Overview
Peabody Memorial Library is located in Jonesport, ME. The organization was established in 1973. 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. Peabody 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 12/2021, Peabody Memorial Library generated $43.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (25.5%) each year. All expenses for the organization totaled $50.0k 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
OUR MISSION IS TO PROVIDE SERVICES, CULTURAL ACTIVITIES, TECHNOLOGY EDUCATION, AND TO ACT AS A SOCIAL RESOURCE TO IMPROVE THE QUALITY OF LIFE IN OUR AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PEABODY MEMORIAL LIBRARY PROVIDES A FREE LIBRARY AVAILABLE TO THE PUBLIC IN JONESPORT, BEALS, AND ADDISON, MAINE. IT ALSO PROVIDES CULTURAL ACTIVITIES, ADULT EDUCATION, AND CHILDREN'S PROGRAMS AIMED TO INSTILL A LIFELONG LOVE OF LEARNING. WIFI ACCESS IS ALSO AVAILABLE BOTH IN THE LIBRARY AND IN A TAKE-HOME PROGRAM FOR STUDENTS WHO DO NOT HAVE INTERNET ACCESS AT HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Hinkley Librarian | Officer | 28 | $20,010 |
Harry Fish Jr President | OfficerTrustee | 5 | $0 |
John Church Vice President | OfficerTrustee | 2 | $0 |
Kylie Hinkley Treasurer | OfficerTrustee | 5 | $0 |
Lina Beal Secretary | OfficerTrustee | 2 | $0 |
Sherry Christie Fish Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $23,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,681 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,681 |
| Total Program Service Revenue | $0 |
| Investment income | $1,734 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $43,415 |
| 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. | $20,010 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $208 |
| Payroll taxes | $3,195 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,171 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $3,022 |
| All other expenses | $1,653 |
| Total functional expenses | $50,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $33,336 |
| 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 | $0 |
| Investments—publicly traded securities | $660,651 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $693,987 |
| 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 | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $693,987 |
| Total liabilities and net assets/fund balances | $693,987 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Peabody Memorial Library has recieved totaling $42.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $42 |
Endowment Analysis
| Beg. Balance | $562,687 |
| Earnings | $108,202 |
| Admin Expense | $5,171 |
| Net Contributions | $1,200 |
| Other Expense | $8,000 |
| Ending Balance | $658,918 |
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 |