Maine Forest & Logging Museum Inc
- Assets
- $875.2k
- Revenue
- $105.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Bradley, ME
- Founding
- 11/1962
- Data as of
- 12/2021
- EIN
- 01-6019448
Organization Overview
Maine Forest & Logging Museum Inc is located in Bradley, ME. The organization was established in 1962. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Maine Forest & Logging Museum Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Forest & Logging Museum Inc 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, Maine Forest & Logging Museum Inc generated $105.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $41.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (15.3%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO COLLECT, PRESERVE AND SHARE ARTIFACTS, DOCUMENTS, TOOLS, EQUIPMENT AND STORIES RELATING TO THE HISTORY OF THE MAINE WOODS, PARTICULARLY THE PIONEER AND LUMBER PERIODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A MUSEUM IN THE FORM OF A WORKING LATE 19TH CENTURY/EARLY 20TH CENTURY LUMBER MILL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Wetherbee President | OfficerTrustee | 2 | $0 |
Tim Beaulieu Vice President | OfficerTrustee | 2 | $0 |
Terri Coolong Secretary | OfficerTrustee | 2 | $0 |
Kenneth F Carle III Treasurer | OfficerTrustee | 2 | $0 |
Byron Aubrey Director | Trustee | 2 | $0 |
Tom Christensen Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,100 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,379 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,038 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,517 |
| Total Program Service Revenue | $10,260 |
| Investment income | $3,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,592 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $105,826 |
| 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 | $12,424 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,084 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,173 |
| Office expenses | $3,059 |
| 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 | $775 |
| Insurance | $5,548 |
| All other expenses | $524 |
| Total functional expenses | $41,048 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,932 |
| 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 | $3,985 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $584,269 |
| Investments—publicly traded securities | $231,010 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $875,196 |
| 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 | $30,943 |
| Total liabilities | $30,943 |
| Net assets without donor restrictions | $644,205 |
| Net assets with donor restrictions | $200,048 |
| 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 | $875,196 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Maine Forest & Logging Museum Inc has recieved totaling $6,032.
| Awarding Organization | Amount |
|---|---|
Lucia P Fulton Foundation Boston, MA PURPOSE: FOR GENERAL USE BY CHARITY | $3,000 |
Bangor Savings Bank Foundation Bangor, ME PURPOSE: GENERAL OPERATING SUPPORT | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $32 |
Endowment Analysis
| Beg. Balance | $78,327 |
| Earnings | $981 |
| Admin Expense | $907 |
| Net Contributions | $25,379 |
| Ending Balance | $103,780 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Maritime Museum Bath, ME | $19,147,299 | $3,611,205 |
Maine Mineral & Gem Museum Bethel, ME | $14,617,603 | $769,092 |
Canterbury Shaker Village Inc Canterbury, NH | $3,241,019 | $1,688,271 |
Penobscot Marine Museum Searsport, ME | $8,277,134 | $1,504,211 |
Sailing Ships Portland Portland, ME | $252,695 | $803,946 |
Abbe Museum Bar Harbor, ME | $4,804,812 | $816,686 |
Chosen Vale Inc Enfield, NH | $3,466,183 | $1,051,971 |
New England Ski Museum Franconia, NH | $1,811,111 | $345,656 |
Moosehead Marine Museum Inc Greenville, ME | $2,433,477 | $495,523 |
Seal Cove Auto Museum Seal Cove, ME | $959,876 | $735,715 |
Americas Credit Union Museum Foundation Manchester, NH | $2,650,235 | $258,089 |
Marine Mammals Of Maine Bath, ME | $177,477 | $377,561 |