Thomas Memorial Library Foundation
- Assets
- $841.8k
- Revenue
- $68.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Cape Eliz, ME
- Founding
- 03/2005
- Data as of
- 12/2021
- EIN
- 27-0106217
Organization Overview
Thomas Memorial Library Foundation is located in Cape Eliz, ME. The organization was established in 2005. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thomas Memorial Library Foundation 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, Thomas Memorial Library Foundation generated $68.5k 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 (18.1%) each year. All expenses for the organization totaled $23.5k during the year ending 12/2021. 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 PROVIDE FUNDING FOR THE CAPE ELIZABETH TOWN LIBRARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUND PROGRAMS AT THOMAS MEMORIAL LIBRARY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gil Brennan Treasurer | Officer | 2 | $0 |
Derek Converse Secretary | Officer | 2 | $0 |
Tyler Patterson President | Officer | 2 | $0 |
Gregg Frame Vice -President | Officer | 2 | $0 |
Geoffrey Alexander Board Member | Trustee | 2 | $0 |
Kristen Homicz Board Member | Trustee | 2 | $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 | $43,922 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,922 |
| Total Program Service Revenue | $0 |
| Investment income | $24,530 |
| 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 | $68,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $1,041 |
| Advertising and promotion | $4,200 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $3,230 |
| Total functional expenses | $23,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,840 |
| Savings and temporary cash investments | $58,452 |
| 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 | $0 |
| Investments—publicly traded securities | $760,524 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $841,816 |
| 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 | $841,816 |
| 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 | $841,816 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Thomas Memorial Library Foundation has recieved totaling $3,700.
| Awarding Organization | Amount |
|---|---|
Redmond Family Foundation Cape Elizabeth, ME PURPOSE: GENERAL SUPPORT | $2,000 |
Pond Family Foundation Cape Elizabeth, ME PURPOSE: ANNUAL APPEAL | $1,500 |
The Miley Foundation Ocala, FL PURPOSE: GENERAL SUPPORT | $100 |
Two Lights Foundation Inc Denver, CO PURPOSE: GENERAL USE | $100 |
Endowment Analysis
| Earnings | -$6,686 |
| Net Contributions | $401,647 |
| Ending Balance | $394,961 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Center Ventures Orono, ME | $2,948,482 | $3,531,786 |
Northern Maine Community College Foundation Presque Isle, ME | $4,209,666 | $599,029 |
Wells Public Library Foundation Inc Wells, ME | $16,968 | $76,245 |
University Of Maine School Of Law Foundation Portland, ME | $6,829,939 | $929,272 |
Founders Academy Foundation Manchester, NH | $5,624,673 | $768,570 |
Southern Maine Community College Foundation South Portland, ME | $3,768,050 | $1,245,786 |
Camden Public Library Fund Camden, ME | $1,679,359 | $603,187 |
Friends Of The Weeks Public Library Greenland, NH | $101,158 | $27,678 |
Kennebec Valley Community College Foundation Fairfield, ME | $5,554,302 | $699,650 |
Concord Christain Academy Giving & Going Alliance Concord, NH | $291,148 | $254,410 |
Friends Of Portland Adult Education Portland, ME | $462,146 | $328,136 |
Strong Foundations Elementary School Inc Pembroke, NH | $6,115,891 | $315,445 |