Civic Intelligence

Lubec Memorial Library

990 • Fiscal year 2022 • EIN 01-0284221

Jan 01, 2022 to Dec 31, 2022 • Filed on Dec 14, 2023

55 Water StreetLubec, ME 04652

(207) 733-2491

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Higher debt load relative to assets than 18% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

19th percentile

0.00x

Higher debt load relative to revenue than 19% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

94th percentile

67%

Higher net margin than 94% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

86th percentile

41%

Faster asset growth than 86% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

97th percentile

355%

Faster revenue growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$2,092,559

Up $613,074 (+41%) from 2021

Net Assets

Up

$2,092,078

Up $612,593 (+41%) from 2021

Liabilities

Up

$481

Up $481 from 2021

Revenue

Up

$263,616

Up $205,618 (+355%) from 2021

Expenses

Up

$87,705

Up $34,362 (+64%) from 2021

Net Income

Up

$175,911

Up $171,256 (+3679%) from 2021

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $987,201Liabilities 2011: $0Net Assets 2011: $987,2012011Assets 2012: $0Liabilities 2012: $0Net Assets 2012: $02012Assets 2013: $1,122,151Liabilities 2013: $0Net Assets 2013: $1,122,1512013Assets 2014: $1,186,075Liabilities 2014: $0Net Assets 2014: $1,186,0752014Assets 2015: $1,161,290Liabilities 2015: $0Net Assets 2015: $1,161,2902015Assets 2016: $1,204,591Liabilities 2016: $0Net Assets 2016: $1,204,5912016Assets 2017: $1,194,982Liabilities 2017: $0Net Assets 2017: $1,194,9822017Assets 2018: $976,283Liabilities 2018: $0Net Assets 2018: $976,2832018Assets 2019: $977,233Liabilities 2019: $0Net Assets 2019: $977,2332019Assets 2020: $1,318,776Liabilities 2020: $0Net Assets 2020: $1,318,7762020Assets 2021: $1,479,485Liabilities 2021: $0Net Assets 2021: $1,479,4852021Assets 2022: $2,092,559Liabilities 2022: $481Net Assets 2022: $2,092,0782022Assets 2023: $2,478,778Liabilities 2023: $0Net Assets 2023: $2,478,7782023Assets 2024: $2,595,077Liabilities 2024: $0Net Assets 2024: $2,595,0772024

Highlighted filing

2022

Assets$2,092,559
Liabilities$481
Net Assets$2,092,078

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $56,854Expenses 2011: $67,251Net Income 2011: -$10,3972011Revenue 2012: $74,252Expenses 2012: $41,602Net Income 2012: $32,6502012Revenue 2013: $130,801Expenses 2013: $47,328Net Income 2013: $83,4732013Revenue 2014: $75,280Expenses 2014: $68,312Net Income 2014: $6,9682014Revenue 2015: $47,141Expenses 2015: $46,519Net Income 2015: $6222015Revenue 2016: $52,407Expenses 2016: $51,695Net Income 2016: $7122016Revenue 2017: $52,670Expenses 2017: $46,545Net Income 2017: $6,1252017Revenue 2018: $59,554Expenses 2018: $77,828Net Income 2018: -$18,2742018Revenue 2019: $113,527Expenses 2019: $60,543Net Income 2019: $52,9842019Revenue 2020: $62,723Expenses 2020: $46,990Net Income 2020: $15,7332020Revenue 2021: $57,998Expenses 2021: $53,343Net Income 2021: $4,6552021Revenue 2022: $263,616Expenses 2022: $87,705Net Income 2022: $175,9112022Revenue 2023: $426,102Expenses 2023: $96,715Net Income 2023: $329,3872023Revenue 2024: $206,391Expenses 2024: $128,193Net Income 2024: $78,1982024

Highlighted filing

2022

Revenue$263,616
Expenses$87,705
Net Income$175,911
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Dec 14, 2023
Return Version
2022v5.0
Gross Receipts
$263,616
Mission and Program Overview

Mission

The Lubec Memorial Library's primary mission is to provide books, technology and programming which encourage learning, reading and community involvement for citizens of all ages in Lubec and the surround communities.

The lubec memorial library's primary mission is to provide books, technology and programming which encourage learning, reading and community involvement fot the citizens of all ages in lubec and the surrounding communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$911,874$1,283,614▲ $371,740
Inventories for Sale or Use$285,640$285,640→ $0
Land, Buildings, and Equipment, Net$240,604$143,484▼ $97,120
Savings and Temporary Cash Investments$30,402$122,281▲ $91,879
Cash and Non-Interest-Bearing Accounts$10,965$11,784▲ $819
Total Assets$1,479,485$2,092,559▲ $613,074
Other Assets Total-$245,756-
Liabilities
Other Liabilities-$481-
Total Liabilities$0$481▲ $481
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,343,475$1,893,789▲ $550,314
Net Assets With Donor Restrictions$136,010$198,289▲ $62,279
Total Net Assets Fund Balance$1,479,485$2,092,078▲ $612,593
Total Liabilities and Net Assets / Fund Balance$1,479,485$2,092,559▲ $613,074

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$129,580$143,340$272,920
Land$13,904-$13,904
Other Assets Org$245,756--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$136,010-▼ $16,943-$118,003
2021$113,321$1,465▲ $22,274-$136,010
2020$98,999-▲ $15,140-$113,321
2019$87,567-▲ $12,220-$98,999
2018$90,418-▲ $2,074-$91,715
Compensation and Service Providers

Board Members and Trustees

NameTitle
Katherine JansPresident
Janet HoughSecretary
Janet WestonTreasurer
Paula HolmVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$211,863
Program Service Revenue
$0
Investment Income
$49,528
Other Revenue
$2,225
All Other Contributions
$206,206
Change in Net Assets
$175,911
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$52,852
Salaries, Compensation, and Employee Benefits$34,853
Total Fundraising Expense$588
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$32,376--$32,376
Depreciation Depletion$14,068--$14,068
All Other Expenses$6,713-$588$7,301
Insurance$5,643--$5,643
Fees for Service Investment Mgmnt Fees-$4,259-$4,259
Other Expenses$3,555--$3,555
Payroll Taxes$2,477--$2,477
Office Expenses$1,752--$1,752
Advertising$32--$32
Total Functional Expenses$82,858$4,259$588$87,705
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$2,225
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
Overdraft Acct$481
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
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 board of directors has developed a more comprehensive process for the review of form 990 prior to submission. At the board meeting prior to the deadline of the submission of the form 990, directors are asked if they would like to receive a copy of the completed form 990 prior to its submission. After the form 990 is completed, the completed form 990 is sent to the officers of the board and the finance committee electronically. In addition, the board members who expressed an interest in seeing the form 990 prior to submission are sent a copy. A deadline is given for feedback about the form and the form 990 is submitted after the feedback period has ended and prior to the form's deadline.

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

At the annual meeting of the board of directors, the conflict of interest policy is reviewed by the board as a group. Individual board members sign a form annually which indicates whether or not they have a conflict of interest. If a possible conflict is identified at any point during the year, the personnel committee decides what action is taken. Actions can range from "no action needed" to "termination from the board" depending upon the particular circumstances. Conflict of interest is also reviewed and emphasized at the initial orientation meeting for new board members.

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

The staff members of the library are all part-time and paid on an hourly rate rather than a salary. When hired, a staff member's hourly rate is determined by the applicant's prior experience, education and years previously worked in such a position. After initial hiring, staff members get an annual raise of the amount of the cola (cost of living adjustment) for the year, beginning january 1 of the year.

Form 990, Page 6, Part VI, Line 18

The library board of directors holds an annual community meeting to review the year with community members. The meeting is publicized in the local paper and community information sites. During the meeting, any new or revised library policy, programming, staffing and procedures are discussed. Documents such as the form 990, new policies and other items are distributed to attendees as requested. Apart from the annual community meeting, signs are posted trhoughout the library encouraging patrons to ask questions and seek assistance from the library.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Lubec Memorial Library
EIN
01-0284221
Phone
2077332491
Address
55 WATER STREET, LUBEC, ME 04652

Signing Officer

Name
Janet Weston
Title
Treasurer
Phone
2077332491
Signed
2023-12-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Weston
Formed
1996
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
12
Employees
4
Volunteers
20

Preparer

Firm
The Swanson Group LLC
Address
838 MAIN STREET, WESTBROOK, ME 04092-2847
Preparer
Tabitha C Swanson CPA
Phone
2073703490
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The lubec memorial library's primary mission is to provide books, technology and programming which encourage learning, reading and community involvement fot the citizens of all ages in lubec and the surrounding communities.

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

The lubec memorial library's primary mission is to provide books,technology and programming which encourage learning, reading and communityinvolvement fot the citizens of all ages in lubec and the surrounding communities.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE LIBRARY IS A NON-PROFIT ORGANIZATION WITH 5019C)(3) STATUS. IT IS PRIMARILY FUNDED BY DONATIONS FROM THE PUBLIC AS WELL AS OCCASIONAL GRANTS FROM FOUNDATIONS. STATE FUNDING THROUGH THE STATE OF MAINE LIBRARY SYSTEM IS AVAILABLE WHEN FEDERAL MONEY GOES TO TO THE STATE AGENCY FOR DISTRIBUTION. THE LIBRARY RECEIVED A SMALL PPP GRANT OF FEDERAL MONEY THROUGH THE STATE SYSTEM. IN ADDITION, THE TOWN OF LUBEC PROVIDES A SMALL AMOUNT OF MONEY. THE FINAL SOURCE OF FUNDS IS INTEREST FROM INVESTMENTS THAT WERE SET UP WHEN THE LIBRARY WAS CREATED AND WHEN A LIBRARY BUIDING WAS CONSTRCTED. THE PUBLIC IS THE PRIMARY FUNDING SOURCE.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LUBEC MEMORIAL LIBRARY'S PRIMARY MISSION IS TO PROVIDE BOOKS, TECHNOLOGY AND PROGRAMMING WHICH ENCOURAGE LEARNING, READING AND COMMUNITY INVOLVEMENT FOT THE CITIZENS OF ALL AGES IN LUBEC AND THE SURROUNDING COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE LUBEC MEMORIAL LIBRARY'S PRIMARY MISSION IS TO PROVIDE BOOKS,TECHNOLOGY AND PROGRAMMING WHICH ENCOURAGE LEARNING, READING AND COMMUNITYINVOLVEMENT FOT THE CITIZENS OF ALL AGES IN LUBEC AND THE SURROUNDING COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS HAS DEVELOPED A MORE COMPREHENSIVE PROCESS FOR THE REVIEW OF FORM 990 PRIOR TO SUBMISSION. AT THE BOARD MEETING PRIOR TO THE DEADLINE OF THE SUBMISSION OF THE FORM 990, DIRECTORS ARE ASKED IF THEY WOULD LIKE TO RECEIVE A COPY OF THE COMPLETED FORM 990 PRIOR TO ITS SUBMISSION. AFTER THE FORM 990 IS COMPLETED, THE COMPLETED FORM 990 IS SENT TO THE OFFICERS OF THE BOARD AND THE FINANCE COMMITTEE ELECTRONICALLY. IN ADDITION, THE BOARD MEMBERS WHO EXPRESSED AN INTEREST IN SEEING THE FORM 990 PRIOR TO SUBMISSION ARE SENT A COPY. A DEADLINE IS GIVEN FOR FEEDBACK ABOUT THE FORM AND THE FORM 990 IS SUBMITTED AFTER THE FEEDBACK PERIOD HAS ENDED AND PRIOR TO THE FORM'S DEADLINE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AT THE ANNUAL MEETING OF THE BOARD OF DIRECTORS, THE CONFLICT OF INTEREST POLICY IS REVIEWED BY THE BOARD AS A GROUP. INDIVIDUAL BOARD MEMBERS SIGN A FORM ANNUALLY WHICH INDICATES WHETHER OR NOT THEY HAVE A CONFLICT OF INTEREST. IF A POSSIBLE CONFLICT IS IDENTIFIED AT ANY POINT DURING THE YEAR, THE PERSONNEL COMMITTEE DECIDES WHAT ACTION IS TAKEN. ACTIONS CAN RANGE FROM "NO ACTION NEEDED" TO "TERMINATION FROM THE BOARD" DEPENDING UPON THE PARTICULAR CIRCUMSTANCES. CONFLICT OF INTEREST IS ALSO REVIEWED AND EMPHASIZED AT THE INITIAL ORIENTATION MEETING FOR NEW BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE STAFF MEMBERS OF THE LIBRARY ARE ALL PART-TIME AND PAID ON AN HOURLY RATE RATHER THAN A SALARY. WHEN HIRED, A STAFF MEMBER'S HOURLY RATE IS DETERMINED BY THE APPLICANT'S PRIOR EXPERIENCE, EDUCATION AND YEARS PREVIOUSLY WORKED IN SUCH A POSITION. AFTER INITIAL HIRING, STAFF MEMBERS GET AN ANNUAL RAISE OF THE AMOUNT OF THE COLA (COST OF LIVING ADJUSTMENT) FOR THE YEAR, BEGINNING JANUARY 1 OF THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE LIBRARY BOARD OF DIRECTORS HOLDS AN ANNUAL COMMUNITY MEETING TO REVIEW THE YEAR WITH COMMUNITY MEMBERS. THE MEETING IS PUBLICIZED IN THE LOCAL PAPER AND COMMUNITY INFORMATION SITES. DURING THE MEETING, ANY NEW OR REVISED LIBRARY POLICY, PROGRAMMING, STAFFING AND PROCEDURES ARE DISCUSSED. DOCUMENTS SUCH AS THE FORM 990, NEW POLICIES AND OTHER ITEMS ARE DISTRIBUTED TO ATTENDEES AS REQUESTED. APART FROM THE ANNUAL COMMUNITY MEETING, SIGNS ARE POSTED TRHOUGHOUT THE LIBRARY ENCOURAGING PATRONS TO ASK QUESTIONS AND SEEK ASSISTANCE FROM THE LIBRARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/USAddress/CityNm0TRESCOTT TOWNSHIP
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004652
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IRS990/WebsiteAddressTxt0WWW.LUBEC.LLB.ME.US
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JANET WESTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02077332491
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-12-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LUBEC MEMORIAL LIBRARY
ReturnHeader/Filer/BusinessNameControlTxt0LUBE
ReturnHeader/Filer/EIN0010284221
ReturnHeader/Filer/PhoneNum02077332491
ReturnHeader/Filer/USAddress/AddressLine1Txt055 WATER STREET
ReturnHeader/Filer/USAddress/CityNm0LUBEC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461374001
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THE SWANSON GROUP LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0838 MAIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBROOK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ME
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0040922847
ReturnHeader/PreparerPersonGrp/PhoneNum02073703490
ReturnHeader/PreparerPersonGrp/PreparationDt02023-12-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TABITHA C SWANSON CPA
ReturnHeader/ReturnTs02024-01-17T11:02:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JANET
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WESTON
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$0.00$2.60$0.21$0.13$0.08
2023Detailed filing. Detailed filing data is available for this year.$2.48$0.00$2.48$0.43$0.10$0.33
2022Detailed filing. Detailed filing data is available for this year.$2.09$0.00$2.09$0.26$0.09$0.18
2021Detailed filing. Detailed filing data is available for this year.$1.48$0.00$1.48$0.06$0.05$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.32$0.00$1.32$0.06$0.05$0.02
2019Summary only. Only limited summary data is available for this year.$0.98$0.00$0.98$0.11$0.06$0.05
2018Summary only. Only limited summary data is available for this year.$0.98$0.00$0.98$0.06$0.08$0.02
2017Summary only. Only limited summary data is available for this year.$1.19$0.00$1.19$0.05$0.05$0.01
2016Summary only. Only limited summary data is available for this year.$1.20$0.00$1.20$0.05$0.05$0.00
2015Summary only. Only limited summary data is available for this year.$1.16$0.00$1.16$0.05$0.05$0.00
2014Summary only. Only limited summary data is available for this year.$1.19$0.00$1.19$0.08$0.07$0.01
2013Summary only. Only limited summary data is available for this year.$1.12$0.00$1.12$0.13$0.05$0.08
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.07$0.04$0.03
2011Summary only. Only limited summary data is available for this year.$0.99$0.00$0.99$0.06$0.07$0.01
Peer Organizations

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