Lovell Historical Society
- Assets
- $673.8k
- Revenue
- $151.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Lovell, ME
- Founding
- 03/1997
- Data as of
- 12/2023
- EIN
- 01-0339744
Organization Overview
Lovell Historical Society is located in Lovell, ME. The organization was established in 1997. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Lovell Historical Society employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lovell Historical Society 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 12/2023, Lovell Historical Society generated $151.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $75.7k during the year ending 12/2023. While expenses have increased by 8.5% per year over the past 6 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
(1) TO COLLECT, PRESERVE, EXCHANGE, PERPETUATE AND PUBLICH HISTORICAL RECORDS, PROPERTY, DOCUMENTS, ARTIFACTS AND OTHER ELATED INFORMATION; (2) TO PROMOTE AND ENCOURAGE INTEREST IN, AND STUDY OF, THE HISTORY OF THE TOWN OF LOVELL, MAINE AND ITS ENVIRONS; AND (3) TO SUPPORT DISSEMINATION OF HISTORICAL KNOWLEDGE BY PROVIDING EDUCATIONAL OPPORTUNITIES ABOUT THE HISTORY OF LOVELL, MAINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVE THE HISTORY OF LOVELL, MAINE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Stone President | OfficerTrustee | 32 | $19,815 |
Virginia Gray Vice Preside | OfficerTrustee | 4 | $0 |
Elizabeth Kerr Secretary | OfficerTrustee | 4 | $0 |
Jon Bricetti Treasurer | OfficerTrustee | 0.5 | $0 |
Lawrence Fox Director | Trustee | 0.5 | $0 |
Trish Stearns Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,992 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,992 |
| Total Program Service Revenue | $13,016 |
| Investment income | $58,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $11,285 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $151,332 |
| 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 | $19,815 |
| Other salaries and wages | $5,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,648 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,435 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,049 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,404 |
| Information technology | $2,540 |
| Royalties | $0 |
| Occupancy | $23,357 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $98 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,976 |
| Insurance | $2,455 |
| All other expenses | $513 |
| Total functional expenses | $75,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,626 |
| 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 | $240,615 |
| Investments—publicly traded securities | $386,589 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $673,830 |
| 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 | $673,830 |
| 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 | $673,830 |