Portland Public Library
- Assets
- $16.3m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 98
- Location
- Portland, ME
- Founding
- 01/1943
- Data as of
- 06/2022
- EIN
- 01-6000802
Organization Overview
Portland Public Library is located in Portland, ME. The organization was established in 1943. As of 06/2022, Portland Public Library employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portland Public 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 06/2022, Portland Public Library generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $5.3m during the year ending 06/2022. While expenses have increased by 0.6% 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
THE LIBRARY'S MISSION IS TO BUILD A CITY OF READERS BY PROVIDING RESOURCES AND EXPERIENCES THAT INSPIRE IMAGINATION, CURIOSITY, AWARENESS, AND LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PORTLAND PUBLIC LIBRARY (PPL) IS A SYSTEM OF 5 PHYSICAL LOCATIONS: MAIN LIBRARY, 3 BRANCH LIBRARIES AND THE SHARED COLLECTIONS MANAGEMENT CENTER (SCMC), AN ANNEX FOR COLLECTIONS. PPL IS THE MOST HEAVILY VISITED PUBLIC CULTURAL INSTITUTION IN MAINE. PPL IS A NONPROFIT ORGANIZATION, GOVERNED BY A VOLUNTARY BOARD OF TRUSTEES, ADMINISTERED BY A PROFESSIONAL STAFF AND VOLUNTEERS. VOLUNTEERS WERE ZERO IN 2021 DUE TO THE TEMPORARY CLOSURE OF RETAIL SALES AND ADDITIONAL PROGRAMMING OUTSIDE OF BUDGET DUE TO THE COVID 19 PANDEMIC. FTE'S ALSO DECLINED FROM 55 TO 53 DUE TO CURTAILMENT OF STAFFING WHICH WAS REQUIRED BY THE CITY OF PORTLAND TO REDUCE BUDGET SHORTFALLS THAT HAD BEEN ATTRIBUTED TO THE COVID 19 PANDEMIC. THE LIBRARY SERVES PORTLAND AND CUMBERLAND, YORK AND PARTS OF OXFORD COUNTIES. PPL HAS 96,000 CARDHOLDERS WITH EXTENSIVE PROGRAMS AND PARTNERSHIPS SERVING CHILDREN AND ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Dalton President | OfficerTrustee | 1 | $0 |
Erica Johanson 1st VP | OfficerTrustee | 1 | $0 |
Peter Ventre Treasurer | OfficerTrustee | 1 | $0 |
Charles Miller Trustee | Trustee | 1 | $0 |
Abdullahi Ali Trustee | Trustee | 1 | $0 |
Dana Baldwin Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,534,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,469,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,004,050 |
| Total Program Service Revenue | $13,366 |
| Investment income | $107,461 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $158,735 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,283,612 |
| 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. | $246,452 |
| Compensation of current officers, directors, key employees. | $192,503 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,725,527 |
| Pension plan accruals and contributions | $258,287 |
| Other employee benefits | $496,723 |
| Payroll taxes | $0 |
| 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 | $0 |
| Fees for services: Other | $122,390 |
| Advertising and promotion | $0 |
| Office expenses | $61,667 |
| Information technology | $206,195 |
| Royalties | $0 |
| Occupancy | $141,680 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40,104 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $211,296 |
| Insurance | $50,187 |
| All other expenses | $108,337 |
| Total functional expenses | $5,297,929 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,384,946 |
| Pledges and grants receivable | $3,500,000 |
| Accounts receivable, net | $114,705 |
| 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 | $49,391 |
| Net Land, buildings, and equipment | $3,372,564 |
| Investments—publicly traded securities | $7,501,808 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,629 |
| Other assets | $366,185 |
| Total assets | $16,295,228 |
| Accounts payable and accrued expenses | $397,150 |
| 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 | $696,959 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,335 |
| Total liabilities | $1,115,444 |
| Net assets without donor restrictions | $4,692,789 |
| Net assets with donor restrictions | $10,486,995 |
| 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 | $16,295,228 |