Steep Falls Library

EIN 01-0441542 Public charity (501(c)(3)) Steep Falls, ME

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Size

<$100K

What they do

Offers library books and services to residents of Steep Falls, Maine, and nearby areas.

Leadership

Paula Paul · Librarian · $28K

Money in and out

$91K revenue, $75K expenses

Bottom line

57% program efficiency

Offers library books and services to residents of Steep Falls, Maine, and nearby areas. For fiscal year 2025 it reported $91K in revenue, $75K in expenses, and $438K in net assets.Pt I

Where the money goes · FY2025

Total revenue

$91K

Pt VIII · Ln 12

Total expenses

$75K

Pt IX · Ln 25

Net assets

$438K

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): $16K

Where spending went · Part IX cols B–D

57%

43%

Program services $0.57 Management & general $0.43 Fundraising $0.01

Program efficiency

57%

of spending reaches programs▲ +53% vs prior filing year

Operating runway

81.6mo

months of highly liquid reserves at operating expense rate▼ -17% vs prior filing year

Surplus margin

+18%

revenue over expenses, this year▲ +456% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990

Revenue

$91K

FY2025▲ +50%

Expenses

$75K

FY2025▲ +17%

Total assets

$635K

FY2025▼ -1%

Total liabilities

$197K

FY2025▼ -9%

Total revenue

$91K

Pt VIII · Ln 12

Total expenses

$75K

Pt IX · Ln 25

Net assets

$438K

Pt X · Ln 32

Revenue less expensesPt I · Ln 19$16K

Total assetsPt X · Ln 16$635K

Program-expense ratioPt IX · col B57%

Voting members of governing bodyPt I · Ln 310

Independent voting membersPt I · Ln 410

Mission & Programs · Part III

Where the work happens

1 program service account for $42K of program spending, described in the organization's own filed words · FY2024.

Providing library services to the local communities.

$42Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File

Legal nameHdr · item CSteep Falls Library

EINHdr · item D01-0441542

Principal addressHdr · item CSteep Falls, ME

WebsiteHdr · item Jnone reported

Year of formationHdr · item Lpending

State of legal domicileHdr · item MME

Exempt statusHdr · item I501(c)(3) · active

NTEE classificationIRS BMFEducation (B70)

Ruling yearIRS BMFAug 1990

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a10

Independent voting membersPt VI · Ln 1b10

Conflict-of-interest policyPt VI · Ln 12aNo

Whistleblower policyPt VI · Ln 13No

Document retention policyPt VI · Ln 14No

CEO/top-official compensation independently reviewedPt VI · Ln 15aNo

Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Paula Paul

Librarian

$28,080Pt VII · Sec A

Gayle Dunnigan

Trustee

$0Pt VII · Sec A

Russell Wiggin

Trustee

$0Pt VII · Sec A

Martin Duggan

Trustee

$0Pt VII · Sec A

Suzanne Deroche

Trustee

$0Pt VII · Sec A

Sarah Gabba

Trustee

$0Pt VII · Sec A

Jennifer Thomas

President

$0Pt VII · Sec A

Kathleen Swasey

Vice President

$0Pt VII · Sec A

Paula Paul’s $28K as Librarian is at the 72nd percentile of top reported officer pay among 143 <$100K education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021
Paula Paul	$28,080	$28,080	$28,080	$28,080	$2,340

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII

Investment income$56K · 62%

Contributions & grants$34K · 38%

Investment income62%$56K

Contributions & grants38%$34K

— government grantsLn 1e$21K

Total revenueLn 12$91K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

57%

43%

Program services $0.57 Management & general $0.43 Fundraising $0.01

Program services57%$42K

Management & general43%$32K

Fundraising1%$449

Total functional expensesLn 25$75K

Balance Sheet

Part X · end of year

CashLn 1$21K

Total assetsLn 16$635K

Total liabilitiesLn 26$197K

Total net assetsLn 32$438K

Months of cash on handcomputed3.3

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $507K · Operating expenses/yr $75K

81.6 months

Where the money goes

Program services

Program services $42K · Total expenses $75K

57%

Management & General

Management & general $32K · Total expenses $75K

43%

Fundraising

Fundraising $449 · Total expenses $75K

Cost to raise $1

Fundraising expense (3-yr avg) $6K · Solicited contributions (3-yr avg) $17K

$0.33 to raise $1 (3-yr avg)

Where the money comes from

Contribution dependence

Contributions & grants $34K · Total revenue $91K

38%

Government reliance

Government grants $21K · Total revenue $91K

23%

Earned-income share

Program service revenue $0 · Total revenue $91K

Investment reliance

Investment income $56K · Total revenue $91K

+62%

Program self-sufficiency

Program service revenue $0 · Total expenses $75K

Growth & trend

Revenue growth (YoY)

This year $91K · Prior year $60K

+50%

Revenue CAGR

FY2020 $38K · FY2024 $91K

+24%

Net-asset trend (YoY)

End of year $438K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $91K · Expenses $75K

+18%

Liabilities-to-Assets

Total liabilities — · Total assets $635K

—

Net-asset ratio

Net assets $438K · Total assets $635K

69%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) $268K · Other securities (Pt X, ln 12) $218K · Total assets (Pt X, ln 16) $635K

77%

People & payroll

Highest Reported Total Compensation

Individual Paula Paul · Reported title LIBRARIAN · Highest reported compensation $28K · Total expenses $75K

38%

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $30K · Total expenses $75K

41%

Peer comparison

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

Metric	This org	Peer median	Percentile
Program ratio	57%	—	—
Overhead ratio	43%	—	—
Fundraising cost ratio	1%	—	—
Revenue growth	50%	—	—
Accounting fee ratio	2%	—	—

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

Maine Community Foundation INCFY2024$6K

Total grants receivedfrom 1 funder$6K

Similar Organizations

Closest in mission — by what they do

Highland Falls LibraryNY

Pleasant Hills Public LibraryPA

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Maine Library AssociationMA

Mountain Top LibraryNY

Hubbard Free LibraryME

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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

FY2025 (Latest)$91K revenue · viewing · ⤓ 990 PDF

FY2024$60K revenue · ⤓ 990 PDF

FY2023$35K revenue · ⤓ 990 PDF

FY2022$47K revenue · ⤓ 990 PDF

FY2021$38K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2025IRS

Classification, formation year, addressIRS Business Master File

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