Jesup Memorial Library EIN 01-0214017 Form 990 (PDF) Claim this org

Jesup Memorial Library FY2022 filing

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Provides free access to books, media, computers, internet, and local history resources for the community. For fiscal year 2022 it reported $6.4M in revenue, $872K in expenses, and $13.6M in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Bar Harbor, ME
Website
jesuplibrary.com
Filings
5 on file (2020–2022)
Revenue
$6.4MFY2022
Expenses
$872K
Net assets
$13.6M
People
14
Filings
5
Updates
0
More identity details & actions ⌄
EIN  01-0214017 Public charity (501(c)(3)) Bar Harbor, ME
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 9/11/26 · see original: IRS
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Size
$1–10M
What they do
Provides free access to books, media, computers, internet, and local history resources for the community.
Leadership
Ronald Beard · Chairman
Money in and out
$6.4M revenue, $872K expenses
Bottom line
55% program efficiency
Where the money goes · FY2022
Total revenue
$6.4M
Pt VIII · Ln 12
Total expenses
$872K
Pt IX · Ln 25
Net assets
$13.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $5.5M
Where spending went · Part IX cols B–D
Program services $0.55 Management & general $0.12 Fundraising $0.33
Program efficiency
55%
of spending reaches programs
Operating runway
50.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+86%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$6.4M
FY2022▲ +174%
Expenses
$872K
FY2022▲ +8%
Total assets
$13.7M
FY2022▲ +62%
Total liabilities
$50K
FY2022▲ +220%
Total revenue
$6.4M
Pt VIII · Ln 12
Total expenses
$872K
Pt IX · Ln 25
Net assets
$13.6M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$5.5M
Total assetsPt X · Ln 16$13.7M
Program-expense ratioPt IX · col B55%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CJesup Memorial Library
EINHdr · item D01-0214017
Principal addressHdr · item CBar Harbor, ME
WebsiteHdr · item Jjesuplibrary.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MME
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B71Z)
Ruling yearIRS BMFAug 1945

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chairman
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $477K of program spending, described in the organization's own filed words · FY2022.
01

The jesup serves as a connection point of our community. The jesup holds more than 39,000 books in our permanent collection, 23,000 books and audiobooks to download, 1,000 books on CD, and 1,200 movies on DVD. The collection includes books on the history of maine, mdi, and our local acadia national park.

$477Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$6.3M · 98%
Investment income$108K · 2%
Contributions & grants98%$6.3M
Investment income2%$108K
Program service revenue$602
Other revenue$987
— government grantsLn 1e$163K
Total revenueLn 12$6.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.55 Management & general $0.12 Fundraising $0.33
Program services55%$477K
Management & general12%$108K
Fundraising33%$287K
Total functional expensesLn 25$872K

Balance Sheet

Part X · end of year
CashLn 1$3.7M
Total assetsLn 16$13.7M
Total liabilitiesLn 26$50K
Total net assetsLn 32$13.6M
Months of cash on handcomputed50.6

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.7M · Operating expenses/yr $872K
50.6 months
Where the money goes
Program services
Program services $477K · Total expenses $872K
55%
Management & General
Management & general $108K · Total expenses $872K
12%
Fundraising
Fundraising $287K · Total expenses $872K
33%
Cost to raise $1
Fundraising expense (3-yr avg) $288K · Solicited contributions (3-yr avg) $3.6M
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $6.3M · Total revenue $6.4M
98%
Government reliance
Government grants $163K · Total revenue $6.4M
3%
Earned-income share
Program service revenue $602 · Total revenue $6.4M
<0.01%
Investment reliance
Investment income $108K · Total revenue $6.4M
+2%
Program self-sufficiency
Program service revenue $602 · Total expenses $872K
0.07%
Growth & trend
Revenue growth (YoY)
This year $6.4M · Prior year $2.3M
+174%
Net-asset trend (YoY)
End of year $13.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $6.4M · Expenses $872K
+86%
Liabilities-to-Assets
Total liabilities — · Total assets $13.7M
Net-asset ratio
Net assets $13.6M · Total assets $13.7M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $13.7M
0%
People & payroll
Highest Reported Total Compensation
Individual Ronald Beard · Reported title Chairman · Highest reported compensation $0 · Total expenses $872K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $517K · Total expenses $872K
59%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 55%
Overhead ratio 12%
Fundraising cost ratio 5%
Revenue growth 174%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0.7%
Fundraising fee ratio 11%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 9 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.9M revenue · ⤓ 990 PDF
FY2023$2.1M revenue · ⤓ 990 PDF
FY2022$6.4M revenue · viewing · ⤓ 990 PDF
FY2021$2.3M revenue · ⤓ 990 PDF
FY2020$3.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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