Civic Intelligence

Jesup Memorial Library

990 • Fiscal year 2020 • EIN 01-0214017

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 20, 2021

34 Mount Desert StreetBar Harbor, ME 04609

(207) 288-4245

Siviq Scores

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

Liabilities / Assets

13th percentile

0.00x

Higher debt load relative to assets than 13% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

11th percentile

0.01x

Higher debt load relative to revenue than 11% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

95th percentile

73%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

88th percentile

51%

Faster asset growth than 88% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

95th percentile

122%

Faster revenue growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$6,784,527

Up $2,276,597 (+51%) from 2019

Net Assets

Up

$6,766,338

Up $2,283,269 (+51%) from 2019

Liabilities

Down

$18,189

Down $6,672 (-27%) from 2019

Revenue

Up

$3,093,677

Up $1,701,438 (+122%) from 2019

Expenses

Down

$840,022

Down $18,400 (-2.1%) from 2019

Net Income

Up

$2,253,655

Up $1,719,838 (+322%) from 2019

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2011: $2,695,502Liabilities 2011: $15,730Net Assets 2011: $2,679,7722011Assets 2012: $3,404,367Liabilities 2012: $761,652Net Assets 2012: $2,642,7152012Assets 2013: $3,582,018Liabilities 2013: $765,855Net Assets 2013: $2,816,1632013Assets 2014: $3,666,193Liabilities 2014: $765,159Net Assets 2014: $2,901,0342014Assets 2015: $3,345,657Liabilities 2015: $847,471Net Assets 2015: $2,498,1862015Assets 2016: $3,510,021Liabilities 2016: $853,375Net Assets 2016: $2,656,6462016Assets 2018: $3,632,950Liabilities 2018: $6,663Net Assets 2018: $3,626,2872018Assets 2019: $4,507,930Liabilities 2019: $24,861Net Assets 2019: $4,483,0692019Assets 2020: $6,784,527Liabilities 2020: $18,189Net Assets 2020: $6,766,3382020Assets 2021: $8,465,074Liabilities 2021: $15,516Net Assets 2021: $8,449,5582021Assets 2022: $13,672,763Liabilities 2022: $49,627Net Assets 2022: $13,623,1362022Assets 2023: $15,279,409Liabilities 2023: $271,981Net Assets 2023: $15,007,4282023Assets 2024: $16,311,354Liabilities 2024: $195,926Net Assets 2024: $16,115,4282024

Highlighted filing

2020

Assets$6,784,527
Liabilities$18,189
Net Assets$6,766,338

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $428,140Expenses 2011: $360,503Net Income 2011: $67,6372011Revenue 2012: $379,706Expenses 2012: $394,819Net Income 2012: -$15,1132012Revenue 2013: $469,858Expenses 2013: $419,325Net Income 2013: $50,5332013Revenue 2014: $497,501Expenses 2014: $437,440Net Income 2014: $60,0612014Revenue 2015: $400,968Expenses 2015: $575,157Net Income 2015: -$174,1892015Revenue 2016: $823,120Expenses 2016: $597,061Net Income 2016: $226,0592016Revenue 2018: $1,879,765Expenses 2018: $879,049Net Income 2018: $1,000,7162018Revenue 2019: $1,392,239Expenses 2019: $858,422Net Income 2019: $533,8172019Revenue 2020: $3,093,677Expenses 2020: $840,022Net Income 2020: $2,253,6552020Revenue 2021: $2,324,945Expenses 2021: $804,380Net Income 2021: $1,520,5652021Revenue 2022: $6,370,659Expenses 2022: $872,054Net Income 2022: $5,498,6052022Revenue 2023: $2,095,001Expenses 2023: $779,669Net Income 2023: $1,315,3322023Revenue 2024: $1,933,648Expenses 2024: $857,130Net Income 2024: $1,076,5182024

Highlighted filing

2020

Revenue$3,093,677
Expenses$840,022
Net Income$2,253,655
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 20, 2021
Return Version
2020v4.0
Gross Receipts
$4,396,651
Mission and Program Overview

Mission

PUBLIC LIBRARY

The jesup memorial library nourishes minds, enhances lives, and builds community. We serve as the town of bar harbor's public library, and offer resources and programming that is inclusive and expansive, for people of all ages. We offer events, lectures, language learning, and community meeting space.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,486,828$2,478,163▼ $8,665
Land, Buildings, and Equipment, Net$1,058,491$2,035,792▲ $977,301
Pledges and Grants Receivable$230,481$1,153,297▲ $922,816
Savings and Temporary Cash Investments$701,312$1,098,142▲ $396,830
Cash and Non-Interest-Bearing Accounts$22,122$19,133▼ $2,989
Prepaid Expenses and Deferred Charges$8,696--
Total Assets$4,507,930$6,784,527▲ $2,276,597
Liabilities
Other Liabilities$1,058$11,563▲ $10,505
Accounts Payable and Accrued Expenses$23,803$6,626▼ $17,177
Total Liabilities$24,861$18,189▼ $6,672
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,483,069$6,129,657▲ $1,646,588
Net Assets With Donor Restrictions-$636,681-
Total Net Assets Fund Balance$4,483,069$6,766,338▲ $2,283,269
Total Liabilities and Net Assets / Fund Balance$4,507,930$6,784,527▲ $2,276,597

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,303,431$53,537$1,356,968
Land$732,361-$732,361

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$2,092,356$433,204▲ $193,809$571,433$2,128,865
2019$2,158,650$240,281▲ $119,547$405,914$2,092,356
2018$1,974,289$602,997▲ $127,276$526,112$2,158,650
2017$2,148,306$140,135▲ $163,781$458,597$1,974,289
2016$2,225,557$194,747▲ $218,258$470,529$2,148,306
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,897,634
Program Service Revenue
$684
Investment Income
$195,359
Other Revenue
$0
All Other Contributions
$2,744,634
Change in Net Assets
$2,253,655
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$445,068
Other Expenses$394,954
Total Fundraising Expense$372,062
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$218,749$48,042$133,120$399,911
Fees for Services Other$4,410$2,277$162,340$169,027
Office Expenses$3,917$8,640$27,391$39,948
Depreciation Depletion$35,557--$35,557
Occupancy$32,666$2,340$95$35,101
Payroll Taxes$15,134$3,590$9,976$28,700
Fees for Service Investment Mgmnt Fees$1,541$17,530-$19,071
Other Employee Benefits$6,110$1,210$9,137$16,457
Insurance$11,256$2,241$544$14,041
Advertising$285-$5,783$6,068
Other Expenses$16,438$4,206$150$4,206
Information Technology$4,000--$4,000
All Other Expenses$360$1,192$1,172$2,724
Fees for Services Accounting-$2,000-$2,000
Travel-$175$486$661
Total Functional Expenses$374,349$93,611$372,062$840,022
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$10,065
Credit Cards$1,498
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The jesup form 990 is completed annually by the library's management and outside accountants. The finance committee reviews the form, and provides a recommendation to the board of directors for adopting the final version. A copy of the completed form 990 is provided to each voting member of the board of directors for review and approval prior to its filing with the irs.

Form 990, Page 6, Part VI, Line 12C

All staff and members of the board of directors complete a review and re-sign the conflict of interest policy on an annual basis. The executive director and the chairman of the board of directors lead ongoing monitoring of potential conflicts throughout the year.

Form 990, Page 6, Part VI, Line 15A

Compensation for the executive director is reviewed and approved on an annual basis by the independent members of the board of directors. No members of the board of directors receives compensation for their role as a member.

Form 990, Page 6, Part VI, Line 18

The jesup makes its financial statements available to the public upon request. In addition, the jesup's form 990 is available via guidestar, charity navigator, and propublica.

Form 990, Page 6, Part VI, Line 19

Copies of all governing documents are available at the library or through written request.

Filing and Contact Details

Filer

Filer Name
Jesup Memorial Library
EIN
01-0214017
Phone
2072884245
Address
34 MOUNT DESERT STREET, BAR HARBOR, ME 04609

Signing Officer

Name
Ronald Beard
Title
Chair
Phone
0207288424
Signed
2021-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ronald Beard
Formed
1911
Legal Domicile
Me
Voting Board Members
13
Independent Board Members
13
Employees
14
Volunteers
100

Preparer

Firm
Hmv LLC
Address
PO BOX 543, ELLSWORTH, ME 04605
Preparer
Ellen Cleveland
Phone
2076675529
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The jesup memorial library nourishes minds, enhances lives, and builds community. We serve as the town of bar harbor's public library, and offer resources and programming that is inclusive and expansive, for people of all ages. We offer all the services that a modern public library offers. The jesup is a place where possibilities and realities share space. We are a center for creative community pursuits, opening doors with our activities and resources, for those who live here and those who visit.

Form 990, Page 2, Part III, Line 2

In response to the covid-19 pandemic, the jesup greatly modified activities in 2020. We moved our event programming to be entirely virtual, holding 150 events for over 3,500 attendees throughout the year. We truncated our annual book sale to be a multi-week, outdoor event. We also had to close our doors for certain periods of time, and limit patron access to the reading room, public-use technology (including computers and printers). We installed new protective measures and practices and implemented social distancing, disinfecting practices, and restructured our lending practices to protect our patrons and community.

Form 990, Page 2, Part III, Line 4D

We serve as the town of bar harbor's public library, and offer resources and programming that is inclusive and expansive, for people of all ages. We offer all the services that a modern public library offers.

Form 990, Part IX, Line 11G

Payroll processing 0 1,542 0 consulting 4,410 735 162,340 total 4,410 2,277 162,340

Form 990, Part XI, Line 9

Rounding 6 adjust for prior year pledge 75,000 total 75,006

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The endowment funds are used for operating expenses.

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