BOOTHBAY HARBOR MEMORIAL LIBRARY A… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1952

Legal Domicile

Principal Officer

JOAN CHATTERTON

Phone

2076333112

Tax Period

2023-01-01 to 2023-12-31

BOOTHBAY HARBOR MEMORIAL LIBRARY ASSOCIATION, founded in 1952, is a small nonprofit in the Education sector that reported $485K in total revenue in fiscal year 2023. Expenses of $440K left a modest 9% surplus.

Mission

OPERATION OF A FREE PUBLIC LIBRARY AND CREATE A WELCOMING SPACE IN WHICH TO EXPLORE IDEAS, CREATE COMMUNITY AND NURTURE INDIVIDUAL GROWTH VIA OPEN ACCESS TO THE TOOLS TO LEARN, DREAM, CONNECT AND DO.

Program Service Accomplishments

Program 1

Expenses: $317,358 Revenue: $11,577

TO CREATE A FREE WELCOMING ATMOSPHERE WHERE INDIVIDUALS CAN COME TO EXPLORE IDEAS, CREATE COMMUNITY AND NURTURE INDVIDUAL GROWTH VIA ACCESS TO THE TOOLS TO LEARN, DREAM, CONNECT AND DO.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $399,226

Program Service Revenue $11,577

Investment Income $72,398

Other Revenue $2,123

TOTAL REVENUE $485,324

Expense Breakdown

Grants Paid $0

Salaries & Benefits $236,232

Fundraising Expenses $54,169

Program Expenses $317,358

Other Expenses $191,649

TOTAL EXPENSES $439,881

Year-over-Year Comparison

	2023	2022	Change
Revenue	$485,324	$474,748	+0.0%
Expenses	$439,881	$420,976	+0.0%
Net Income	$45,443	$53,772	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$70,551

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOANNA BREEN	EXECUTIVE DI	40.00	Officer	$67,535	$3,016	$70,551
LESLIE BIRD	TREASURER	1.00	Officer Director	$0	$0	$0
JOAN CHATTERTON	PRESIDENT	1.00	Officer Director	$0	$0	$0
LARRY COLCORD	BOARD MEMBER	1.00	Director	$0	$0	$0
MARION COLEMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
KAREN JONES	BOARD MEMBER	1.00	Director	$0	$0	$0
DALE LANCASTER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN MAKAREWICZ	BOARD MEMBER	1.00	Director	$0	$0	$0
MARTA PETERS	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
REBECCA SCHOENTHAL	BOARD MEMBER	1.00	Director	$0	$0	$0
DESIREE SCORCIA	BOARD MEMBER	1.00	Director	$0	$0	$0
JILL TUPPER	SECRETARY	1.00	Officer Director	$0	$0	$0
AMY WIRTANEN	BOARD MEMBER	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$485,324	$439,881	$2,696,569	$45,443
2022	$474,748	$420,976	$2,760,705	$53,772
2021	$462,784	$377,979	$2,729,447	$84,805
2020	$357,700	$330,235	$2,731,778	$27,465

BOOTHBAY HARBOR MEMORIAL LIBRARY ASSOCIATION