Bagaduce Music Lending Library
- Assets
- $2.9m
- Revenue
- $266.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Blue Hill, ME
- Founding
- 09/1984
- Data as of
- 12/2023
- EIN
- 22-2537865
Organization Overview
Bagaduce Music Lending Library is located in Blue Hill, ME. The organization was established in 1984. As of 12/2023, Bagaduce Music Lending Library employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bagaduce Music Lending 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 12/2023, Bagaduce Music Lending Library generated $266.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.5%) each year. All expenses for the organization totaled $331.6k during the year ending 12/2023. 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
TO COLLECT, PRESERVE, AND LEND PRINTED MUSIC AND TO PROMOTE APPRECIATION, KNOWLEDGE, AND PERFORMANCE OF MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION COLLECTS, PRESERVES, AND LENDS PRINTED MUSIC AND PROVIDES MUSIC EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Parker Jayne President | OfficerTrustee | 1 | $0 |
Holly Wood Vice Preside | OfficerTrustee | 1 | $0 |
Stan Spracker Treasurer | OfficerTrustee | 1 | $0 |
Michael Sinclair Secretary | OfficerTrustee | 1 | $0 |
Sarah J Adams Director | Trustee | 1 | $0 |
Corrinne Collett Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $136,771 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $136,771 |
| Total Program Service Revenue | $102,622 |
| Investment income | $4,723 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,615 |
| Net Gain/Loss on Asset Sales | $3,931 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $266,662 |
| 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 | $120,165 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,500 |
| Payroll taxes | $10,492 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,964 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,001 |
| Fees for services: Other | $7,263 |
| Advertising and promotion | $4,030 |
| Office expenses | $3,402 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,739 |
| 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 | $51,200 |
| Insurance | $1,473 |
| All other expenses | $8,571 |
| Total functional expenses | $331,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,584 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $829 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,089 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,304,831 |
| Investments—publicly traded securities | $161,119 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,389,638 |
| Total assets | $2,887,090 |
| Accounts payable and accrued expenses | $8,278 |
| 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 | $8,278 |
| Net assets without donor restrictions | $2,771,478 |
| Net assets with donor restrictions | $107,334 |
| 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 | $2,887,090 |