Civic Intelligence

Freeport Historical Society

EIN 01-0346944 • 501(c)3 • Freeport, ME

Profile

To perseve buildings, archival materials, artwork, and artifacts of historical importance to the town of Freeport, Maine.

45 Main StreetFreeport, ME 04032

www.freeporthistoricalsociety.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

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

Liabilities / Revenue

51st percentile

0.08x

Higher debt load relative to revenue than 51% of similar nonprofits.

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

Net Margin

16th percentile

-18%

Higher net margin than 16% of similar nonprofits.

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

Top Officer Pay

54th percentile

$69,550

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 34.8% of source-year revenue.

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

Asset Growth

40th percentile

0.2%

Faster asset growth than 40% of similar nonprofits.

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

Revenue Growth

46th percentile

4.8%

Faster revenue growth than 46% of similar nonprofits.

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

Assets

Up

$1,959,987

Up $3,064 (+0.2%) from 2023

Liabilities

Up

$15,765

Up $10,616 (+206%) from 2023

Net Assets

Down

$1,944,222

Down $7,552 (-0.4%) from 2023

Revenue

Up

$199,684

Up $9,165 (+4.8%) from 2023

Expenses

Down

$234,640

Down $25,223 (-9.7%) from 2023

Net Income

Up

-$34,956

Up $34,388 (+50%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $484,087Liabilities 2011: $4,128Net Assets 2011: $479,9592011Assets 2012: $462,355Liabilities 2012: $2,318Net Assets 2012: $460,0372012Assets 2013: $495,747Liabilities 2013: $27,574Net Assets 2013: $468,1732013Assets 2014: $501,998Liabilities 2014: $43,014Net Assets 2014: $458,9842014Assets 2015: $475,624Liabilities 2015: $13,565Net Assets 2015: $462,0592015Assets 2016: $1,467,680Liabilities 2016: $17,480Net Assets 2016: $1,450,2002016Assets 2017: $1,609,197Liabilities 2017: $14,405Net Assets 2017: $1,594,7922017Assets 2018: $1,569,678Liabilities 2018: $9,652Net Assets 2018: $1,560,0262018Assets 2019: $1,709,809Liabilities 2019: $11,979Net Assets 2019: $1,697,8302019Assets 2020: $1,938,628Liabilities 2020: $42,446Net Assets 2020: $1,896,1822020Assets 2021: $2,167,943Liabilities 2021: $3,742Net Assets 2021: $2,164,2012021Assets 2022: $1,971,181Liabilities 2022: $4,477Net Assets 2022: $1,966,7042022Assets 2023: $1,956,923Liabilities 2023: $5,149Net Assets 2023: $1,951,7742023Assets 2024: $1,959,987Liabilities 2024: $15,765Net Assets 2024: $1,944,2222024

Highlighted filing

2024

Assets$1,959,987
Liabilities$15,765
Net Assets$1,944,222

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $158,705Expenses 2011: $142,019Net Income 2011: $16,6862011Revenue 2012: $112,961Expenses 2012: $139,883Net Income 2012: -$26,9222012Revenue 2013: $220,146Expenses 2013: $206,654Net Income 2013: $13,4922013Revenue 2014: $162,800Expenses 2014: $181,682Net Income 2014: -$18,8822014Revenue 2015: $167,136Expenses 2015: $188,680Net Income 2015: -$21,5442015Revenue 2016: $1,173,450Expenses 2016: $183,518Net Income 2016: $989,9322016Revenue 2017: $313,358Expenses 2017: $193,372Net Income 2017: $119,9862017Revenue 2018: $180,254Expenses 2018: $202,091Net Income 2018: -$21,8372018Revenue 2019: $222,262Expenses 2019: $192,993Net Income 2019: $29,2692019Revenue 2020: $302,750Expenses 2020: $185,314Net Income 2020: $117,4362020Revenue 2021: $353,719Expenses 2021: $162,798Net Income 2021: $190,9212021Revenue 2022: $194,986Expenses 2022: $223,881Net Income 2022: -$28,8952022Revenue 2023: $190,519Expenses 2023: $259,863Net Income 2023: -$69,3442023Revenue 2024: $199,684Expenses 2024: $234,640Net Income 2024: -$34,9562024

Highlighted filing

2024

Revenue$199,684
Expenses$234,640
Net Income-$34,956

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.96$0.02$1.94$0.20$0.23$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.96$0.01$1.95$0.19$0.26$0.07
2022Detailed filing. Detailed filing data is available for this year.$1.97$0.00$1.97$0.19$0.22$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.17$0.00$2.16$0.35$0.16$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.94$0.04$1.90$0.30$0.19$0.12
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.71$0.01$1.70$0.22$0.19$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.57$0.01$1.56$0.18$0.20$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.61$0.01$1.59$0.31$0.19$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$0.02$1.45$1.17$0.18$0.99
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.48$0.01$0.46$0.17$0.19$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.50$0.04$0.46$0.16$0.18$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.50$0.03$0.47$0.22$0.21$0.01
2012Summary only. Only limited summary data is available for this year.$0.46$0.00$0.46$0.11$0.14$0.03
2011Summary only. Only limited summary data is available for this year.$0.48$0.00$0.48$0.16$0.14$0.02
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$214,481
Mission and Program Overview

Mission

To perseve buildings, archival materials, artwork, and artifacts of historical importance to the town of Freeport, Maine.

To encourage the sharing and enjoyment of the long history of freeport, maine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,315,415$1,275,246▼ $40,169
Investments in Publicly Traded Securities$555,128$594,903▲ $39,775
Cash and Non-Interest-Bearing Accounts$78,689$59,823▼ $18,866
Savings and Temporary Cash Investments$13,993$14,050▲ $57
Inventories for Sale or Use$7,956$7,887▼ $69
Accounts Receivable-$5,014-
Total Assets$1,971,181$1,956,923▼ $14,258
Liabilities
Accounts Payable and Accrued Expenses$2,450$3,097▲ $647
Other Liabilities$2,027$2,052▲ $25
Total Liabilities$4,477$5,149▲ $672
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,931,943$1,916,956▼ $14,987
Net Assets With Donor Restrictions$34,761$34,818▲ $57
Total Net Assets Fund Balance$1,966,704$1,951,774▼ $14,930
Total Liabilities and Net Assets / Fund Balance$1,971,181$1,956,923▼ $14,258

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,205,937$534,344$1,740,281
Equipment$21,258$27,027$48,285
Land$48,051-$48,051

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$287,074-▲ $10,086-$297,160
2022$271,634-▲ $15,439-$287,074
2021$263,675-▲ $7,960-$271,634
2020$258,717-▲ $4,959-$263,676
2019$251,148-▲ $7,569-$258,717
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Eric C SmithExecutive DiFT$69,373$69,373

Board Members and Trustees

NameTitle
Jim DegrandprePresident
Bradley SnowTrustee
David CoffinTrustee
Dennis LandisTrustee
Jane GrantTrustee
Nadia SalibaTrustee
Norah HealyTrustee
Rebecca HotellingTrustee
Sally WalshTrustee
Pauline BrannSecretary
Scott BurrillTreasurer
Mary BabikianVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$135,841
Program Service Revenue
$7,511
Investment Income
$19,561
Other Revenue
$27,606
All Other Contributions
$112,141
Change in Net Assets
$-69,344
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$156,366
Other Expenses$103,497
Total Fundraising Expense$13,819
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$44,450$25,071$5,845$75,366
Current Officers, Directors, Trustees, and Key Employees$27,749$34,687$6,937$69,373
Depreciation Depletion$34,987--$34,987
Occupancy$28,715--$28,715
Payroll Taxes$5,705$4,885$1,037$11,627
Insurance$11,487--$11,487
Office Expenses$2,644$3,601-$6,245
Fees for Service Investment Mgmnt Fees-$4,360-$4,360
Fees for Services Accounting-$3,637-$3,637
Information Technology$983$984-$1,967
Other Expenses$78--$78
Total Functional Expenses$168,819$77,225$13,819$259,863
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,293
Fundraising Direct Expenses$3,813
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
Security Deposits$2,000
Sales Tax Payable$52
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
Yes
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, Page 6, Part VI, Line 6

Any person, without regard to race, color, creed, national or ethnic origin, sex, sexual orientation, religion or place of residence, may become a member upon payment of dues. Categories of membership may be established upon recommendation by the board of trustees and approval by the membership. Currently approved categories of membership include: individual, family, supporting, senior, contributing, sustaining, student, sustaining business, and contributing business. Dues for categories of membership shall be recommended by the board trustees and approved by the membership. Dues shall be payable annually on th anniversary date of membership. Any member who after receiving a notification of renewal, fails to renew his or her membership within three months of the date for payment shall be considered a lapsed member without privileges and shall be removed from the rolls of membership after two years. Members shall be entitled to one vote each on any matter submitted to a vote of the members, except for those holding family memberships. In the case of family memberships, two members of the family shall each be entitled to one vote. Proxies shall not be recognized. All members shall be eligible to serve as members of the board of trustees. Any member may attend any meeting of the board of trustees or any committee meeting.

Form 990, Page 6, Part VI, Line 7A

The trustees shall be elected by the members at the annual meeting of the society.

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

Prior to filing, the executive director reviews the return in detail. After all of the ed's questions have been resolved, and after updating the return as required, the return is distributed via e-mail to all of the board members who must respond to the executive director with any questions, concerns, and/or comments by a date specified in the ed's communication. The return is then updated as required; the e-file authorization form is signed by the ed, and the return is filed by the due date.

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

The ed salary is based on comparative data of like employees. Base salary is determined through the budget process, and other benefits follow the personnel policy.

Form 990, Page 6, Part VI, Line 19

Financial statements are circulated to the full board every month and to the full membership at the annual meeting.

Filing and Contact Details

Filer

Filer Name
Freeport Historical Society
EIN
01-0346944
Phone
2078653170
Address
45 MAIN STREET, FREEPORT, ME 04032

Signing Officer

Name
Eric C Smith
Title
Executive Director
Phone
2078653170
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric C Smith
Formed
1969
Voting Board Members
14
Independent Board Members
14
Employees
3
Volunteers
40

Preparer

Firm
Smith & Associates Cpas
Address
500 US ROUTE 1 STE 102, YARMOUTH, ME 04096-6817
Preparer
Amanda Schultz Brown CPA
Phone
2078468881
Supplemental Narrative

Additional Explanations

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

Freeport historical society preserves the history of freeport, maine through its collection of archives, artifacts, buildings and landscapes; uses these collections in addition to new research and discoveries to host public exhibitions and educational programs on the geography, industry, people, and culture of the region; and partners with other community organizations to promote freeport's rich history and sense of place. In 2022, fhs completed all major phases of its building renovations at its main street campus, including moving its archival collections into the new noncombustible storage vault and opening its newly accessible entrance to renovated visitor spaces, research room, and exhibition galleries. The renovated carriage house opened as the home of freeport oyster bar. Fhs worked closely with town leaders on a yearlong downtown vision project outlining goals for development and preservation in the center of town. Outdoor programs continued with tours and programs of local historic sites, and new exhibits opened in the galleries including a new interactive map table showing centuries of development in the town. The historic pettengill farm property hosted educational school visits as well and the annual community event pettengill farm day.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The endowment can be used for capital projects as approved by the trustees, as well as in specific situations for which restricted gifts have been made to freeport historical society.

Raw XML AppendixShowing 400 of 486 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0FREEPORT HISTORICAL SOCIETY PRESERVES THE HISTORY OF FREEPORT, MAINE THROUGH ITS COLLECTION OF ARCHIVES, ARTIFACTS, BUILDINGS AND LANDSCAPES; USES THESE COLLECTIONS IN ADDITION TO NEW RESEARCH AND DISCOVERIES TO HOST PUBLIC EXHIBITIONS AND EDUCATIONAL PROGRAMS ON THE GEOGRAPHY, INDUSTRY, PEOPLE, AND CULTURE OF THE REGION; AND PARTNERS WITH OTHER COMMUNITY ORGANIZATIONS TO PROMOTE FREEPORT'S RICH HISTORY AND SENSE OF PLACE. IN 2022, FHS COMPLETED ALL MAJOR PHASES OF ITS BUILDING RENOVATIONS AT ITS MAIN STREET CAMPUS, INCLUDING MOVING ITS ARCHIVAL COLLECTIONS INTO THE NEW NONCOMBUSTIBLE STORAGE VAULT AND OPENING ITS NEWLY ACCESSIBLE ENTRANCE TO RENOVATED VISITOR SPACES, RESEARCH ROOM, AND EXHIBITION GALLERIES. THE RENOVATED CARRIAGE HOUSE OPENED AS THE HOME OF FREEPORT OYSTER BAR. FHS WORKED CLOSELY WITH TOWN LEADERS ON A YEARLONG DOWNTOWN VISION PROJECT OUTLINING GOALS FOR DEVELOPMENT AND PRESERVATION IN THE CENTER OF TOWN. OUTDOOR PROGRAMS CONTINUED WITH TOURS AND PROGRAMS OF LOCAL HISTORIC SITES, AND NEW EXHIBITS OPENED IN THE GALLERIES INCLUDING A NEW INTERACTIVE MAP TABLE SHOWING CENTURIES OF DEVELOPMENT IN THE TOWN. THE HISTORIC PETTENGILL FARM PROPERTY HOSTED EDUCATIONAL SCHOOL VISITS AS WELL AND THE ANNUAL COMMUNITY EVENT PETTENGILL FARM DAY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 7,680
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT CAN BE USED FOR CAPITAL PROJECTS AS APPROVED BY THE TRUSTEES, AS WELL AS IN SPECIFIC SITUATIONS FOR WHICH RESTRICTED GIFTS HAVE BEEN MADE TO FREEPORT HISTORICAL SOCIETY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FREEPORT HISTORICAL SOCIETY PRESERVES THE HISTORY OF FREEPORT, MAINE THROUGH ITS COLLECTION OF ARCHIVES, ARTIFACTS, BUILDINGS AND LANDSCAPES; USES THESE COLLECTIONS IN ADDITION TO NEW RESEARCH AND DISCOVERIES TO HOST PUBLIC EXHIBITIONS AND EDUCATIONAL PROGRAMS ON THE GEOGRAPHY, INDUSTRY, PEOPLE, AND CULTURE OF THE REGION; AND PARTNERS WITH OTHER COMMUNITY ORGANIZATIONS TO PROMOTE FREEPORT'S RICH HISTORY AND SENSE OF PLACE. IN 2022, FHS COMPLETED ALL MAJOR PHASES OF ITS BUILDING RENOVATIONS AT ITS MAIN STREET CAMPUS, INCLUDING MOVING ITS ARCHIVAL COLLECTIONS INTO THE NEW NONCOMBUSTIBLE STORAGE VAULT AND OPENING ITS NEWLY ACCESSIBLE ENTRANCE TO RENOVATED VISITOR SPACES, RESEARCH ROOM, AND EXHIBITION GALLERIES. THE RENOVATED CARRIAGE HOUSE OPENED AS THE HOME OF FREEPORT OYSTER BAR. FHS WORKED CLOSELY WITH TOWN LEADERS ON A YEARLONG DOWNTOWN VISION PROJECT OUTLINING GOALS FOR DEVELOPMENT AND PRESERVATION IN THE CENTER OF TOWN. OUTDOOR PROGRAMS CONTINUED WITH TOURS AND PROGRAMS OF LOCAL HISTORIC SITES, AND NEW EXHIBITS OPENED IN THE GALLERIES INCLUDING A NEW INTERACTIVE MAP TABLE SHOWING CENTURIES OF DEVELOPMENT IN THE TOWN. THE HISTORIC PETTENGILL FARM PROPERTY HOSTED EDUCATIONAL SCHOOL VISITS AS WELL AND THE ANNUAL COMMUNITY EVENT PETTENGILL FARM DAY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY PERSON, WITHOUT REGARD TO RACE, COLOR, CREED, NATIONAL OR ETHNIC ORIGIN, SEX, SEXUAL ORIENTATION, RELIGION OR PLACE OF RESIDENCE, MAY BECOME A MEMBER UPON PAYMENT OF DUES. CATEGORIES OF MEMBERSHIP MAY BE ESTABLISHED UPON RECOMMENDATION BY THE BOARD OF TRUSTEES AND APPROVAL BY THE MEMBERSHIP. CURRENTLY APPROVED CATEGORIES OF MEMBERSHIP INCLUDE: INDIVIDUAL, FAMILY, SUPPORTING, SENIOR, CONTRIBUTING, SUSTAINING, STUDENT, SUSTAINING BUSINESS, AND CONTRIBUTING BUSINESS. DUES FOR CATEGORIES OF MEMBERSHIP SHALL BE RECOMMENDED BY THE BOARD TRUSTEES AND APPROVED BY THE MEMBERSHIP. DUES SHALL BE PAYABLE ANNUALLY ON TH ANNIVERSARY DATE OF MEMBERSHIP. ANY MEMBER WHO AFTER RECEIVING A NOTIFICATION OF RENEWAL, FAILS TO RENEW HIS OR HER MEMBERSHIP WITHIN THREE MONTHS OF THE DATE FOR PAYMENT SHALL BE CONSIDERED A LAPSED MEMBER WITHOUT PRIVILEGES AND SHALL BE REMOVED FROM THE ROLLS OF MEMBERSHIP AFTER TWO YEARS. MEMBERS SHALL BE ENTITLED TO ONE VOTE EACH ON ANY MATTER SUBMITTED TO A VOTE OF THE MEMBERS, EXCEPT FOR THOSE HOLDING FAMILY MEMBERSHIPS. IN THE CASE OF FAMILY MEMBERSHIPS, TWO MEMBERS OF THE FAMILY SHALL EACH BE ENTITLED TO ONE VOTE. PROXIES SHALL NOT BE RECOGNIZED. ALL MEMBERS SHALL BE ELIGIBLE TO SERVE AS MEMBERS OF THE BOARD OF TRUSTEES. ANY MEMBER MAY ATTEND ANY MEETING OF THE BOARD OF TRUSTEES OR ANY COMMITTEE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TRUSTEES SHALL BE ELECTED BY THE MEMBERS AT THE ANNUAL MEETING OF THE SOCIETY.

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