Wayne Library Association EIN 01-6010995 Form 990 (PDF) Claim this org

Wayne Library Association FY2022 filing

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Offers library services and cultural activities using facilities, resources, technology, and staff. For fiscal year 2022 it reported $126K in revenue, $133K in expenses, and $1.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Wayne, ME
Website
www.cary-memorial.lib.me.us
Filings
5 on file (2020–2022)
Revenue
$126KFY2022
Expenses
$133K
Net assets
$1.5M
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  01-6010995 Public charity (501(c)(3)) Wayne, ME
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Offers library services and cultural activities using facilities, resources, technology, and staff.
Leadership
Judy Danielson · Chair
Money in and out
$126K revenue, $133K expenses
Bottom line
63% program efficiency
Where the money goes · FY2022
Total revenue
$126K
Pt VIII · Ln 12
Total expenses
$133K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$7K
Where spending went · Part IX cols B–D
Program services $0.63 Management & general $0.37 Fundraising $0.01
Program efficiency
63%
of spending reaches programs
Operating runway
96.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
-6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$126K
FY2022▼ -18%
Expenses
$133K
FY2022▲ +27%
Total assets
$1.5M
FY2022▼ -13%
Total liabilities
$3K
FY2022▼ -9%
Total revenue
$126K
Pt VIII · Ln 12
Total expenses
$133K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$7K
Total assetsPt X · Ln 16$1.5M
Program-expense ratioPt IX · col B63%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWayne Library Association
EINHdr · item D01-6010995
Principal addressHdr · item CWayne, ME
WebsiteHdr · item Jwww.cary-memorial.lib.me.us
Year of formationHdr · item Lpending
State of legal domicileHdr · item MME
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFNov 1992

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
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 · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Finance Chair
$0Pt VII · Sec A
House Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Deputy Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wayne Library Association executive salaries →

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Mission & Programs · Part III

Where the work happens

3 program services account for $11K of program spending, described in the organization's own filed words · FY2021.
01

Maintain adjacent property which provides additional space for fundraising activities as well as space for community use.

$9Kprogram expense
02

Provide cultural activities for both adults and children including speakers, demonstrations, and concerts.

$2Kprogram expense
03

The Friends of the Libary are made up of members of the library. This group fundraises which helps to support the libary's mission by contributing to the purchase of books, magazines, DVDs, audio books kids' programs, summer intern and the library download program.

$564program expense

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Statement of Revenue

Part VIII
Investment income$67K · 53%
Contributions & grants$51K · 41%
Other revenue$7K · 5%
Investment income53%$67K
Contributions & grants41%$51K
Other revenue5%$7K
Program service revenue$398
— government grantsLn 1e$8K
Total revenueLn 12$126K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.63 Management & general $0.37 Fundraising $0.01
Program services63%$83K
Management & general37%$49K
Fundraising1%$745
Total functional expensesLn 25$133K

Balance Sheet

Part X · end of year
CashLn 1$123K
Total assetsLn 16$1.5M
Total liabilitiesLn 26$3K
Total net assetsLn 32$1.5M
Months of cash on handcomputed11.2

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.1M · Operating expenses/yr $133K
96.7 months
Where the money goes
Program services
Program services $83K · Total expenses $133K
63%
Management & General
Management & general $49K · Total expenses $133K
37%
Fundraising
Fundraising $745 · Total expenses $133K
0.6%
Cost to raise $1
Fundraising expense (3-yr avg) $248 · Solicited contributions (3-yr avg) $50K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $51K · Total revenue $126K
41%
Government reliance
Government grants $8K · Total revenue $126K
7%
Earned-income share
Program service revenue $398 · Total revenue $126K
0.3%
Investment reliance
Investment income $67K · Total revenue $126K
+53%
Program self-sufficiency
Program service revenue $398 · Total expenses $133K
0.3%
Growth & trend
Revenue growth (YoY)
This year $126K · Prior year $154K
-18%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $126K · Expenses $133K
-6%
Liabilities-to-Assets
Total liabilities — · Total assets $1.5M
Net-asset ratio
Net assets $1.5M · Total assets $1.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $947K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.5M
63%
People & payroll
Highest Reported Total Compensation
Individual Judy Danielson · Reported title Chair · Highest reported compensation $0 · Total expenses $133K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $27K · Total expenses $133K
20%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 63%
Overhead ratio 37%
Fundraising cost ratio 1%
Revenue growth -18%
Investment management fee ratio 0.5%

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
Total grants receivedfrom 1 funder$850

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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)$199K revenue · ⤓ 990 PDF
FY2023$144K revenue · ⤓ 990 PDF
FY2022$126K revenue · viewing · ⤓ 990 PDF
FY2021$154K revenue · ⤓ 990 PDF
FY2020$126K 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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