Rockport Library Foundation
- Assets
- $243.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Rockport, ME
- Founding
- 11/2018
- Data as of
- 06/2024
- EIN
- 83-0864371
Organization Overview
Rockport Library Foundation is located in Rockport, ME. The organization was established in 2018. According to its NTEE Classification (B70) the organization is classified as: Libraries, 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. Rockport 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 06/2024, Rockport Library Foundation generated $105.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (31.9%) each year. All expenses for the organization totaled $46.8k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (22.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS TO SUPPORT THE PUBLIC PURPOSE OF CONSTRUCTION OF THE TOWN OF ROCKPORT PUBLIC LIBRARY, A PUBLIC FACILITY OPERATED BY THE TOWN OF ROCKPORT, MAINE, A STATE OF MAINE MUNICIPAL ENTITY/GOVERNMENTAL UNIT WHICH HAS SECTION 170(C)(1) TAX EXEMPT STATUS STATUS UNDER THE INTERNAL REVENUE CODE. AFTER CONSTRUCTION OF THE ROCKPORT PUBLIC LIBRARY BUILDINGS AND GROUNDS, THE PURPOSE OF THE ROCKPORT LIBRARY FOUNDATION SHALL BE TO RAISE FUNDS FOR SUPPOR OF OPERATIONS, MAINTENANCE OF BUILDINGS AND IMPOROVEMENTS AND THE RESOURCES OF THE LIBRARY.
Describe the Organization's Program Activity:
Part 3
THE ROCKPORT LIBRARY FOUNDATION RAISES FUNDS FOR ITS SUPPORTED ORGANIZATION, THE TOWN OF ROCKPORT, MAINE, WHICH ARE TRANSFERRED TO THE SUPPORTED ORGANIZATION TO BE USED FOR CONSTRUCTION OF THE TOWN OF ROCKPORT PUBLIC LIBRARY. THE FOUNDATION ALSO DIRECTLY OVERSEES AND PAYS EXPENSES WHICH WOULD OTHERWISE BE INCURRED BY THE TOWN OF ROCKPORT FOR THE CONSTRUCTIONS OF THE LIBRARY.
THE FOUNDATION HAS A SEPARATE FUNDING CAMPAIGN TO PROVIDE THE TOWN OF ROCKPORT PUBLIC LIBRARY BUILDING WITH NEW FURNITURE AND FURNISHINGS. THE FOUNDATION DESIGNS AND PURCHASES NEW FURNITURE AND OTHER FURNISHINGS TO BE USED IN THE LIBRARY AFTER BUILDING CONSTRUCTION IS COMPLETED, OR REIMBURSES THE LIBRARY FOR FURNITURE AND FURNISHING EXPENSES.
IN ADDITION TO PROVIDING FUNDING TOWARD THE CONSTRUCTION OF THE NEW LIBRARY, THE FOUNDATION IS PROVIDING PROGRAMMING FOR THE LIBRARY AND DIRECTLY PAYING SELECT OPERATIONAL EXPENSES OF THE LIBRARY, AT THE DISCRETION OF THE FOUNDATION'S BOARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Munger President | 3 | $0 | |
Nicholas Ruffin Vice President | 0 | $0 | |
Ingrid Van Steenberg Treasurer | 5 | $0 | |
Mark Van Baalen Secretary | 3 | $0 | |
Helen Shaw Director | 1.5 | $0 | |
Nan Bow Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,508 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $11,438 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $105,946 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $138 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $178 |
| Other expenses | $46,503 |
| Total expenses | $46,819 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $243,690 |
| Other assets | $0 |
| Total assets | $243,690 |
| Total liabilities | $0 |
| Net assets or fund balances | $243,690 |