Islesboro Historical Society Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1964

Legal Domicile

Principal Officer

Patrick O' Bannon

Phone

2077346733

Tax Period

2023-01-01 to 2023-12-31

Islesboro Historical Society Inc, founded in 1964, is a micro nonprofit that reported $83K in total revenue in fiscal year 2023. Revenue surged 49% from the prior year, signaling strong growth momentum. The organization ran a surplus of $32K, a strong 39% operating margin.

Mission

To bring together people interested in the history of Islesboro, for the purpose of collecting, preserving, presenting and promoting materials related to the history of the town and its place in local, regional, and national history. Materials include printed and manuscript documents and records, paintings, photographs, maps, objects, artifacts and buildings associated with the history of Islesboro and its residents.The Society also seeks to preserve, promote and interpret and sustain the culture of Islesboro and its residents, by hosting, sponsoring, and supporting activities and events that celebrate and sustain that culture in all its various forms.

Program Service Accomplishments

Program 1

Expenses: $17,381

Maintenance and Operation of the Building and Museum: During 2023, no significant replacement or improvement projects were carried out. $14,564 was spent on routine repairs & maintenance, security...

Maintenance and Operation of the Building and Museum: During 2023, no significant replacement or improvement projects were carried out. $14,564 was spent on routine repairs & maintenance, security and occupancy costs, including electricity, as well as property maintenance. Another $2,817 was allocated to program services in regard to depreciation, bringing the total outlays for the year to $17,381.

Program 2

Expenses: $3,459

Historical Society Meetings, Lectures, Museum Public Exhibitions, Publications, Genealogy and Collections: Public exhibitions and programs are carried out in the Historical Society building and in...

Historical Society Meetings, Lectures, Museum Public Exhibitions, Publications, Genealogy and Collections: Public exhibitions and programs are carried out in the Historical Society building and in the museum. In 2023, there were two evening educational programs. One was a presentation entitled, "Islesboro Geology - Still Rockin and the second was a presentation entitled, "Islesboro's Unforgettable Elizabeth Ladd: Author, Farmer, Naturalist and character.". There were also three outdoor walking tours which covered the history of different areas of the Island. There were art shows in July and August, which generated significant revenue, an outdoor arts and crafts show featuring Island artisans, and an "Evening With Island Elders" at which four Island seniors spoke about their experiences on the Island and answered questions. The Historical Society was able to resume its annual talent show in 2023. The Historical Society also sponsored a "Behind the Scenes" evening at which visitors could visit the Historical Society to learn about activities related to collection and preservation of historical items. Of course, the Historical Society also regularly maintains, runs and adds to the collection in its museum, and maintains an extensive genealogy database.The Historical Society also publishes and sells several books on the Island's history. Finally, an active program is conducted in the Society's Genealogy and Collections Department, and an active program is conducted to engage the students of the Islesboro Central School in learning the Island's history.

Program 3

Expenses: $2,000

Scholarship Program: The scholarship program established in 2013 by the Islesboro Historical Society, continues with the award presented annually to an Islesboro High School graduate(s) interested in pursuing education at a secondary school/college. The Student's performance in history courses is one of the factors considered by the scholarship committee. Names and addresses of the awardees may be obtained by contacting the Islesboro Historical Society. In 2023, $2,000 in scholarship funds were paid out.

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Trantor Score

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $27,357

Program Service Revenue $0

Investment Income $49,492

Other Revenue $5,835

TOTAL REVENUE $82,684

Expense Breakdown

Grants Paid $2,038

Salaries & Benefits $9,689

Fundraising Expenses $2,180

Program Expenses $22,840

Other Expenses $38,906

TOTAL EXPENSES $50,633

Year-over-Year Comparison

	2023	2022	Change
Revenue	$82,684	$55,486	+0.5%
Expenses	$50,633	$47,985	+0.1%
Net Income	$32,051	$7,501	+3.3%

Key Indicators

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

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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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard De Grasse	Director	1.00	Director	$0	$0	$0
John Mitchell	Director	1.00	Director	$0	$0	$0
Patrick O' Bannon	President	6.00	Officer Director	$0	$0	$0
Majorie King	Director	1.00	Director	$0	$0	$0
Amanda Hobart	Director	1.00	Director	$0	$0	$0
Judy Kaminski	Director	1.00	Director	$0	$0	$0
Bob Slawson	Director	2.00	Director	$0	$0	$0
Carlisle Rex-Waller	Archivist	4.00	Officer Director	$0	$0	$0
Carrie Thomas	Secretary	3.00	Officer Director	$0	$0	$0
Mike Boardman	Director	1.00	Director	$0	$0	$0
Jennifer West	Director	1.00	Director	$0	$0	$0
Shar Piper	Director	2.00	Director	$0	$0	$0
Will Merryman	Director	2.00	Director	$0	$0	$0
Anmiryan Budner	Director	2.00	Director	$0	$0	$0
Jane Wherren	Director	1.00	Director	$0	$0	$0
Doug Welldon	Director	2.00	Director	$0	$0	$0
Valerie Slater	Treasurer	3.00	Officer Director	$0	$0	$0
Debbie Reynolds	Director	1.00	Director	$0	$0	$0
Ted Pendleton	Director	2.00	Director	$0	$0	$0
Kathy DeGrasse	Director	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	$82,684	$50,633	$585,515	$32,051
2022	$55,486	$47,985	$557,503	$7,501
2021	$65,089	$43,135	$545,990	$21,954
2020	$43,164	$47,170	$525,336	$-4,006
2019	$37,188	$43,900	$528,044	$-6,712
2018	$122,938	$44,204	$534,810	$78,734