Cornish Library Association
- Assets
- $1.4m
- Revenue
- $51.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Cornish, ME
- Founding
- 10/1983
- Data as of
- 10/2022
- EIN
- 01-6014486
Organization Overview
Cornish Library Association, operating under the name Bonney Memorial Library, is located in Cornish, ME. The organization was established in 1983. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 10/2022, Bonney Memorial Library employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bonney 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 10/2022, Bonney Memorial Library generated $51.5k 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 (3.8%) each year. All expenses for the organization totaled $48.4k during the year ending 10/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 7 years. 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
CORNISH LIBRARY ASSOCIATION PROVIDES A LIBRARY WITH COMPUTERS/INTERNET ACCESS, CHILDREN LITERACY PROGRAMS, AND ADULT PROGRAMS. THE LIBRARY ALSO HAS A MEETING ROOM OPEN FOR PUBLIC USE, INCLUDING SOCIAL AND ADULT EDUCATION USES, AND THE LIBRARY IS OPEN TO "ALL WHO WISH TO READ AND LEARN." THE SERVICE AREA INCLUDES THE 5 TOWNS OF THE SCHOOL DISTRICT AND SOME PATRONS COME FROM BEYOND THAT AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAD 3,108 PATRONS ENTER THE LIBRARY. THERE WERE 324 USES OF OUR PUBLIC COMPUTERS, WE LOANED 5,853 ITEMS (BOOKS, MAGAZINES, CDS, MUSICAL INSTRUMENTS). THE LIBRARY BOUGHT 504 NEW BOOKS. WE RECEIVED OVER 300 DONATIONS OF BOOKS AND MATERIALS. WE MADE 218 INTER-LIBRARY LOAN REQUESTS, AND LOANED OUT 41 BOOKS FROM OUR COLLECTION TO INTER-LIBRARY LOAN. WE HAD 178 PEOPLE PARTICIPATE IN PROGRAMS AT THE LIBRARY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Tims Secretary | Officer | 2 | $0 |
Robert Tims Jr Treasurer | Officer | 3 | $0 |
Scott Cecil President | Officer | 4 | $0 |
Constance Forbes Trustee | Trustee | 1 | $0 |
Allaire Palmer Trustee | Trustee | 1 | $0 |
Eleanor Pansar Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,779 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,779 |
| Total Program Service Revenue | $0 |
| Investment income | $738 |
| 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 | $51,517 |
| 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 | $0 |
| Other salaries and wages | $16,497 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,832 |
| 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 | $1,281 |
| Advertising and promotion | $285 |
| Office expenses | $5,969 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,129 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $48,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,901 |
| 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 | $550,762 |
| Investments—publicly traded securities | $809,690 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,424,353 |
| 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 | $1,424,353 |
| Total liabilities and net assets/fund balances | $1,424,353 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornish Library Association has recieved totaling $60.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $60 |
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 |