Civic Intelligence

Trustees of Bloomfield Academy

990 • Fiscal year 2024 • EIN 01-0211488

Feb 01, 2023 to Jan 31, 2024 • Filed on Dec 03, 2024

Organization ProfileN/A
9 Elm StreetSkowhegan, ME 04976

(207) 474-3449

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

81st percentile

31%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

41st percentile

$3,331

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

61st percentile

8.5%

Faster asset growth than 61% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

36%

Faster revenue growth than 77% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$2,431,671

Up $189,795 (+8.5%) from 2023

Net Assets

Up

$2,431,671

Up $189,795 (+8.5%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin81st percentile

Revenue

Up

$501,328

Up $133,690 (+36%) from 2023

Expenses

Up

$343,412

Up $6,165 (+1.8%) from 2023

Net Income

Up

$157,916

Up $127,525 (+420%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2010: $1,762,598Liabilities 2010: $0Net Assets 2010: $1,762,5982010Assets 2011: $1,925,107Liabilities 2011: $0Net Assets 2011: $1,925,1072011Assets 2012: $1,807,740Liabilities 2012: $0Net Assets 2012: $1,807,7402012Assets 2013: $1,769,854Liabilities 2013: $0Net Assets 2013: $1,769,8542013Assets 2014: $1,704,903Liabilities 2014: $0Net Assets 2014: $1,704,9032014Assets 2015: $1,903,506Liabilities 2015: $0Net Assets 2015: $1,903,5062015Assets 2016: $1,788,267Liabilities 2016: $0Net Assets 2016: $1,788,2672016Assets 2017: $1,911,898Liabilities 2017: $0Net Assets 2017: $1,911,8982017Assets 2018: $1,988,334Liabilities 2018: $0Net Assets 2018: $1,988,3342018Assets 2019: $1,884,527Liabilities 2019: $0Net Assets 2019: $1,884,5272019Assets 2020: $1,987,016Liabilities 2020: $0Net Assets 2020: $1,987,0162020Assets 2021: $2,234,805Liabilities 2021: $0Net Assets 2021: $2,234,8052021Assets 2022: $2,438,254Liabilities 2022: $0Net Assets 2022: $2,438,2542022Assets 2023: $2,241,876Liabilities 2023: $0Net Assets 2023: $2,241,8762023Assets 2024: $2,431,671Liabilities 2024: $0Net Assets 2024: $2,431,6712024Assets 2025: $2,544,960Liabilities 2025: $0Net Assets 2025: $2,544,9602025

Highlighted filing

2024

Assets$2,431,671
Liabilities$0
Net Assets$2,431,671
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $183,0312010Expenses 2011: $192,3782011Revenue 2012: $404,815Expenses 2012: $455,889Net Income 2012: -$51,0742012Revenue 2013: $381,087Expenses 2013: $368,948Net Income 2013: $12,1392013Revenue 2014: $272,610Expenses 2014: $311,021Net Income 2014: -$38,4112014Revenue 2015: $541,612Expenses 2015: $272,723Net Income 2015: $268,8892015Revenue 2016: $246,701Expenses 2016: $299,506Net Income 2016: -$52,8052016Revenue 2017: $255,369Expenses 2017: $506,611Net Income 2017: -$251,2422017Revenue 2018: $373,358Expenses 2018: $438,258Net Income 2018: -$64,9002018Revenue 2019: $314,559Expenses 2019: $282,940Net Income 2019: $31,6192019Revenue 2020: $320,717Expenses 2020: $260,661Net Income 2020: $60,0562020Revenue 2021: $390,765Expenses 2021: $253,499Net Income 2021: $137,2662021Revenue 2022: $591,288Expenses 2022: $361,248Net Income 2022: $230,0402022Revenue 2023: $367,638Expenses 2023: $337,247Net Income 2023: $30,3912023Revenue 2024: $501,328Expenses 2024: $343,412Net Income 2024: $157,9162024Revenue 2025: $462,993Expenses 2025: $428,979Net Income 2025: $34,0142025

Highlighted filing

2024

Revenue$501,328
Expenses$343,412
Net Income$157,916
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Feb 1, 2023 to Jan 31, 2024
Signed
Dec 3, 2024
Return Version
2023v5.1
Gross Receipts
$908,513
Mission and Program Overview

Mission

Support preservation of historic buildings

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$2,241,876$2,431,671▲ $189,795
Investments in Publicly Traded Securities$1,958,539$1,881,374▼ $77,165
Savings and Temporary Cash Investments$263,337$313,634▲ $50,297
Land, Buildings, and Equipment, Net$20,000$236,663▲ $216,663
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$2,241,876$2,431,671▲ $189,795
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,241,876$2,431,671▲ $189,795
Total Liabilities and Net Assets / Fund Balance$2,241,876$2,431,671▲ $189,795

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$216,663$2,743$219,406
Land$20,000-$20,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$1,990,268$52,154▲ $141,728$208,302$1,975,848
2023$2,064,964$113,872▼ $122,991$65,577$1,990,268
2022$2,008,609-▲ $56,355-$2,064,964
2021$1,945,132$4,125▲ $59,352-$2,008,609
2020$1,841,890$10,533▲ $92,709-$1,945,132
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleBaseTotal
Sarah LeavittTrustee$3,331$3,331

Board Members and Trustees

NameTitle
Lynda QuinnPresident
Karen LewiaVice President
Kristina CannonTrustee
Lynn PerryTrustee
Patricia HorineTrustee
Richard Anzelc JrTrustee
Robert WashburnTrustee
Sam HightTrustee
Hannah LuceSecretary
Patrick DoreTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
AAA EnergyHVAC Services418 Industrial Park Street, Pittsfield, ME 04967$219,406
Revenue and Support

Revenue Composition

Contributions and Grants
$329,197
Program Service Revenue
$4,637
Investment Income
$166,119
Other Revenue
$1,375
All Other Contributions
$131,197
Change in Net Assets
$157,916
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$217,326
Other Expenses$121,622
Grants and Similar Amounts Paid$4,464
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$188,791--$188,791
Occupancy$47,292--$47,292
Fees for Service Investment Mgmnt Fees-$17,446-$17,446
Payroll Taxes$7,394$7,393-$14,787
Other Expenses$10,143--$10,143
Other Employee Benefits$9,169--$9,169
Insurance$8,267--$8,267
Information Technology$5,908--$5,908
Office Expenses$5,240--$5,240
Current Officers, Directors, Trustees, and Key Employees$1,000$3,579-$4,579
Grants to Domestic Individuals$3,414--$3,414
Conferences and Meetings$2,854--$2,854
Depreciation Depletion$2,743--$2,743
Fees for Services Accounting-$1,900-$1,900
Fees for Services Other-$1,789-$1,789
Grants to Domestic Orgs$1,050--$1,050
Advertising$360--$360
Travel$270--$270
Total Functional Expenses$311,305$32,107$0$343,412
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$2,275
Gaming Direct Expenses$900
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The Organization engages an independent public accounting firm to prepare the Form 990 based on information provided by the Organization, its Treasurer and finance committee, and its bookkeeper. To ensure accuracy and completeness, the engaged accountants provide a copy of the Form 990 to the Organization's Treasurer and bookkeeper for review and consideration prior to the return's filing with the IRS. However, a complete copy of the Form 990, including donor identifying data, may not be circulated to all members of the Board prior to the return's filing with the IRS.”

Form 990, Part VI, Section C, line 19

“All Trustees of Bloomfield Academy have a copy of the annual financial statement and it is available to the public on request. The Skowhegan Free Public Library also has a copy of the annual financial statement and it is available to the public on request.”

Filing and Contact Details

Filer

Filer Name
Trustees of Bloomfield Academy
EIN
01-0211488
Phone
2074743449
Address
9 Elm Street, Skowhegan, ME 04976

Signing Officer

Name
Patrick Dore
Title
Treasurer
Phone
2074743449
Signed
2024-12-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lynda Quinn
Formed
1807
Legal Domicile
Me
Voting Board Members
11
Independent Board Members
10
Employees
8
Volunteers
10

Preparer

Firm
Baker Newman & Noyes
Address
PO Box 507, Portland, ME 04112
Preparer
Connor Smart
Phone
2078792100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Column D:

“Most of the solicitation activity was conducted by unpaid volunteers on behalf of the Organization and only a minimal amount of office expenses, primarily in the form of postage and supplies, could be allocated to fundraising purposes, if any expenses could be allocated at all. Accordingly, $0 has been reported on this Form 990, Part IX, Line 25(D).”

Financial Statement Notes

Part III, Line 4:

“The Organization's mission is to support the preservation of several historic buildings (including the Skowhegan Free Public Library) and to provide support to the Library's operation. The Organization does not solicit contributions of historical treasures or artwork, nor does the Organizations maintain such items for future financial gain. Additionally, as the Organization's lifetime exceeds 200 years, the Organization does not have an accurate or timely value for many of the legacy documents, books, or artifacts that it preserves and has safegaurded for many years. Accordingly, the Organization does not report on its financial statements any value or assets for historical treasures or artwork. However, the Organization does estimate that the value of the entire library collection to be $447,650. The Organization preserves this collection in furtherance of its exempt mission to protect historic artifacts and to promote education and engagement for future generations.”

Part V, Line 4:

“The endowment funds that are board designated (4.96%) are to be used for special purposes when general operating funds are not available. Examples include major renovations, improvements, repairs, major equipment purchases, etc. The endowment funds that are permanent (the principal)(95.04%) cannot be used, as stipulated in wills, legal documents etc. Only the income derived from these funds can be used for specific purposes such as book purchases, scholarships, operating expenses, etc.”

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IRS990/NetIncomeFromGamingGrp/ExclusionAmt01375
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt01375
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt031879
IRS990/NoncashContributionsAmt0900
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt047292
IRS990/OccupancyGrp/TotalAmt047292
IRS990/OfficeExpensesGrp/ProgramServicesAmt05240
IRS990/OfficeExpensesGrp/TotalAmt05240
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt09169
IRS990/OtherEmployeeBenefitsGrp/TotalAmt09169
IRS990/OtherExpensesGrp/Desc0Library materials
IRS990/OtherExpensesGrp/Desc1Preservation programs
IRS990/OtherExpensesGrp/ProgramServicesAmt017410
IRS990/OtherExpensesGrp/ProgramServicesAmt110143
IRS990/OtherExpensesGrp/TotalAmt017410
IRS990/OtherExpensesGrp/TotalAmt110143
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0188791
IRS990/OtherSalariesAndWagesGrp/TotalAmt0188791
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07393
IRS990/PayrollTaxesGrp/ProgramServicesAmt07394
IRS990/PayrollTaxesGrp/TotalAmt014787
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Lynda Quinn
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0561000
IRS990/ProgramServiceRevenueGrp/BusinessCd1459210
IRS990/ProgramServiceRevenueGrp/Desc0Library/office fees
IRS990/ProgramServiceRevenueGrp/Desc1Book sales
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02572
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12065
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02572
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12065
IRS990/ProgSrvcAccomActy2Grp/Desc0To provide scholarships to eligible students.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03414
IRS990/ProgSrvcAccomActy2Grp/GrantAmt03414
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0242775
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt04875
IRS990/PYInvestmentIncomeAmt0122464
IRS990/PYOtherExpensesAmt0144766
IRS990/PYOtherRevenueAmt0800
IRS990/PYProgramServiceRevenueAmt01599
IRS990/PYRevenuesLessExpensesAmt030391
IRS990/PYSalariesCompEmpBnftPaidAmt0187606
IRS990/PYTotalExpensesAmt0337247
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0367638
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0157916
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt04637
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0263337
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0313634
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0329197
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0242775
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0477689
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0318658
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0150335
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01518654
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt067228
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt055016
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt035719
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt041306
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt046141
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0245410
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt021177
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.68790
IRS990ScheduleA/PublicSupportPY170Pct00.70190
IRS990ScheduleA/PublicSupportTotal170Amt01217040
IRS990ScheduleA/SubstantialContributorsTotAmt0301614
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0329197
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0242775
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0477689
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0318658
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0150335
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01518654
IRS990ScheduleA/TotalSupportAmt01769277
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt01375
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus1YearAmt0800
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus2YearsAmt01192
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus4YearsAmt01846
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt05213
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.04960
IRS990ScheduleD/BuildingsGrp/BookValueAmt0216663
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02743
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0219406
IRS990ScheduleD/CollectionUsedPreservationInd0X
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01990268
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt052154
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01975848
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0141728
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0208302
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02064964
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0113872
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01990268
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-122991
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt065577
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt02008609
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02064964
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt056355
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01945132
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt04125
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt02008609
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt059352
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt01841890
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt010533
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01945132
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt092709
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/LandGrp/BookValueAmt020000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt020000
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.95039
IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization's mission is to support the preservation of several historic buildings (including the Skowhegan Free Public Library) and to provide support to the Library's operation. The Organization does not solicit contributions of historical treasures or artwork, nor does the Organizations maintain such items for future financial gain. Additionally, as the Organization's lifetime exceeds 200 years, the Organization does not have an accurate or timely value for many of the legacy documents, books, or artifacts that it preserves and has safegaurded for many years. Accordingly, the Organization does not report on its financial statements any value or assets for historical treasures or artwork. However, the Organization does estimate that the value of the entire library collection to be $447,650. The Organization preserves this collection in furtherance of its exempt mission to protect historic artifacts and to promote education and engagement for future generations.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The endowment funds that are board designated (4.96%) are to be used for special purposes when general operating funds are not available. Examples include major renovations, improvements, repairs, major equipment purchases, etc. The endowment funds that are permanent (the principal)(95.04%) cannot be used, as stipulated in wills, legal documents etc. Only the income derived from these funds can be used for specific purposes such as book purchases, scholarships, operating expenses, etc.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part V, Line 4:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0236663
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization engages an independent public accounting firm to prepare the Form 990 based on information provided by the Organization, its Treasurer and finance committee, and its bookkeeper. To ensure accuracy and completeness, the engaged accountants provide a copy of the Form 990 to the Organization's Treasurer and bookkeeper for review and consideration prior to the return's filing with the IRS. However, a complete copy of the Form 990, including donor identifying data, may not be circulated to all members of the Board prior to the return's filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All Trustees of Bloomfield Academy have a copy of the annual financial statement and it is available to the public on request. The Skowhegan Free Public Library also has a copy of the annual financial statement and it is available to the public on request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Most of the solicitation activity was conducted by unpaid volunteers on behalf of the Organization and only a minimal amount of office expenses, primarily in the form of postage and supplies, could be allocated to fundraising purposes, if any expenses could be allocated at all. Accordingly, $0 has been reported on this Form 990, Part IX, Line 25(D).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Column D:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02241876
IRS990/TotalAssetsEOYAmt02431671
IRS990/TotalAssetsGrp/BOYAmt02241876

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,431,671
Liabilities
$0
Net assets
$2,431,671
Revenue
$501,328
Expenses
$343,412
Net income
$157,916
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.54$0.00$2.54$0.46$0.43$0.03
2024Detailed filing. Detailed filing data is available for this year.$2.43$0.00$2.43$0.50$0.34$0.16
2023Detailed filing. Detailed filing data is available for this year.$2.24$0.00$2.24$0.37$0.34$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.44$0.00$2.44$0.59$0.36$0.23
2021Detailed filing. Detailed filing data is available for this year.$2.23$0.00$2.23$0.39$0.25$0.14
2020Detailed filing. Detailed filing data is available for this year.$1.99$0.00$1.99$0.32$0.26$0.06
2019Detailed filing. Detailed filing data is available for this year.$1.88$0.00$1.88$0.31$0.28$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.99$0.00$1.99$0.37$0.44$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.91$0.00$1.91$0.26$0.51$0.25
2016Detailed filing. Detailed filing data is available for this year.$1.79$0.00$1.79$0.25$0.30$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.90$0.00$1.90$0.54$0.27$0.27
2014Detailed filing. Detailed filing data is available for this year.$1.70$0.00$1.70$0.27$0.31$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.77$0.00$1.77$0.38$0.37$0.01
2012Summary only. Only limited summary data is available for this year.$1.81$0.00$1.81$0.40$0.46$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$0.00$1.93$0.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.76$0.00$1.76$0.18