FRIENDS OF SOLDIERS MEMORIAL LIBRARY

EIN: 452866183 501(c)(3) Education

Hiram, ME

Total Revenue
$142,337
Total Expenses
$47,355
Total Assets
$556,404
Net Assets
$556,404
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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
ME
Principal Officer
Daniel Hester
Phone
2074091822
Tax Period
2023-01-01 to 2023-12-31

FRIENDS OF SOLDIERS MEMORIAL LIBRARY, founded in 2012, is a small nonprofit in the Education sector that reported $142K in total revenue in fiscal year 2023. Revenue surged 193% from the prior year, signaling strong growth momentum. The organization ran a surplus of $95K, a strong 67% operating margin.

Mission

The mission of the Friends of Soldiers Memorial Library is to enrich educational, literary and cultural lives through charitable support of the Soldiers Memorial Library and the Arts Center at 8 Hancock Avenue in Hiram, for our residents, for visitors and for surrounding communities.

Program Service Accomplishments

Program 1
Expenses: $29,528 Revenue: $0

Public library services for our community. The most important program service accomplishment for this year is our work to provide public library services for the Town of Hiram. This service is...

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Public library services for our community. The most important program service accomplishment for this year is our work to provide public library services for the Town of Hiram. This service is provided in the Soldiers Memorial Library building, a century-old historical building owned by the Town. Although the town owns the building, we own all of the furnishings and equipment. We provide the collections of books and other materials, six computers for public use, Internet services for the public, printing and copying services, and assistance with whatever needs have brought visitors to our facilities. We maintain hired staff to have the Library open to the public for 19-hours-per-week, with some of the open hours maintained by volunteers. The staff also hosts a children's story hour, and provides a venue for groups such as the "Knotty Knitters" (a knitting club), and for other programs and events. The Library has a collection of more than 6,000 items for loan, and has a web site where the collection can browsed using the Library World on-line catalog. On any of the four days each week when we have open hours, we may host a number of patrons varying from just a few to as many as dozens each day. Records of numbers of patron visits and types of uses are maintained and reported to the Maine State Library and to the Town. The library service does not bring in revenue except for some incidental donations.

Program 2
Expenses: $3,805 Revenue: $741

Providing the Arts Center building for many public uses. Maintaining and providing for public use a building that we own and manage in Hiram village is another important public service for our...

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Providing the Arts Center building for many public uses. Maintaining and providing for public use a building that we own and manage in Hiram village is another important public service for our community. This building, the Arts Center at 8 Hancock Avenue, is a former church that has been renovated and improved to make a comfortable and attractive function space. The building has two floor levels: the lower floor has space for groups of up to 30 to 40 persons, while the main floor has a space that is suitable for up to 75 to 80 persons. The public library next door is also available for use for some purposes, but the size of that building limits groups to about ten persons, and the uses must avoid disrupting the public library facilities. The Arts Center is more flexible and recent uses include: (1) as a site for many adult education programs such as yoga classes, crafts instructions, and many other courses, (2) use as space for birthday parties, weddings and other family events for an inexpensive rental donation, (3) a facility that can still be used for memorial services for which we make no charges if the need involves community members, (4) with the heat pumps that have been installed and the FHA furnace, we can host meetings at any time of year, and other community organizations (some have buildings without year-round heat or cooling) often use this building for their meetings, (5) this building is also used as the regular practice facility for a local community band, and we host at least two band concerts there each year, and many other types of programs including music concerts, dramatic presentations, visiting author events, etc. Regarding the listed expense, the maintenance of the building was accomplished with the $3805 expenditure that is listed, but during 2023, we also had a project to add a third exit doorway for better safety on the main floor. That construction work added $6807 to the costs of management of the building for this year, but with most of that added cost paid by a grant. That $6807 is not considered as an expense, but is an improvement, adding to the value of the building. The revenue of $741 is from cost-defraying rental donations.

Program 3
Expenses: $696 Revenue: $3,884

Providing programs and events for public entertainment and education. Even before the acquisition of the Arts Center building in 2012, the Friends of Soldiers Memorial Library (FoSML) had endeavored...

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Providing programs and events for public entertainment and education. Even before the acquisition of the Arts Center building in 2012, the Friends of Soldiers Memorial Library (FoSML) had endeavored to provide public events at the Library building. We had excellent successes with some Maine author book presentations and some other library-related programs. However, space in that historic building is very limited, so the variety of possible events was also limited. After acquiring the building that became the Arts Center, we worked to make this much more spacious building into a comfortable and attractive events venue. The variety of uses of the Arts Center is described in the previous section, but our most important use is to have the building as a space for public events and educational programs. During 2012 to 2019 we had been working to expand the variety of these events, and to increase our publicity efforts to attract larger attendance. However, in the same way that the pandemic interrupted and limited many types of public events all around the world, our Arts Center also suffered from the necessity of limiting public gatherings. Now that the pandemic risks have been diminishing, we have been working again to improve the variety of events and the attendance. During 2023, in addition to using this space for community meetings, rental uses and adult education needs, our Arts Center hosted 15 public events, ranging in variety from community band concerts to author events, crafts presentations, and programs for families and children. The attendance numbers ranged from as small as a half dozen persons to as many as 70 persons packing the building, with an average of about 26 persons attending each event.. Although seeking donations is not the focus of these events, some gatherings have expressed appreciation with significant donations in support of our work and our facilities. For some events, the revenue is also augmented by donations for baked goods, snacks, and meals prepared by our volunteers. The revenue of $3,884 is from a mix of donations for having spaces for presentations and displays, donations for the baked goods and other food, and other donations in support of our efforts. The expense of $696 is for the direct costs of advertising the events and for the costs of supplies; however, the major costs are actually for maintaining the buildings, as described and accounted for in the previous program service description.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $139,759
Program Service Revenue $0
Investment Income $2,578
Other Revenue $0
TOTAL REVENUE $142,337

Expense Breakdown

Grants Paid $0
Salaries & Benefits $20,166
Fundraising Expenses $326
Program Expenses $34,029
Other Expenses $27,189
TOTAL EXPENSES $47,355

Year-over-Year Comparison

2023 2022 Change
Revenue $142,337 $48,574 +1.9%
Expenses $47,355 $46,511 +0.0%
Net Income $94,982 $2,063 +45.0%
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
55
Independent Members
55
Employees
2
Volunteers
24

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
4
$0
Total Directors
9
$0
Key Employees
1
$4,448
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Caitin Bushnell Library Director 15.6
Highest
$14,153 $0 $14,153
Cara Parent Library Assistant 5.8
Key Emp
$4,448 $0 $4,448
Mary Hannaford President 4
Officer Director
$0 $0 $0
Patricia Dietzel Vice President 3
Officer Director
$0 $0 $0
Susan Hamilton Secretary 10
Officer Director
$0 $0 $0
Daniel Hester Treasurer 10
Officer Director
$0 $0 $0
Elizabeth Burnett Director 2
Director
$0 $0 $0
Michelle Stosez Director 1
Director
$0 $0 $0
Amy Wentworth Director 2
Director
$0 $0 $0
Sally Williams Director 1
Director
$0 $0 $0
Marianne Wyer Director 2
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 $142,337 $47,355 $556,404 $94,982
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