Friends of Veterans Memorial Library

Nonprofit profile at a glance

EIN
872818803
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024
Location
Patten, ME, USA
Phone
2075282164
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Libraries

Reported finances

Revenue
$286,131
Expenses
$84,162
Assets
$419,587
Liabilities
$22,900

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • RAE M BATES (PRESIDENT/CHAIRPERSON)

People named in this filing

  • RAE M BATES (PRESIDENT/CHAIRPERSON)
  • DAVID P MICHAUD (TREASURER)
  • TERRY PETTENGILL (VICE CHAIRPERSON)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

8 sustain, and enrich a community library and community center, ensuring lasting access to vital library services and life long learning for all.

What it reported doing in 2025

The organizations primary program service accomplishments during the year included: (1) maintenance and stewardship of the future site of a planned library and community center to preserve and prepare the property for public use; (2) operation of a childrens summer reading program designed to promote literacy and educational engagement; and (3) sponsorship of community activities, including hosting author presentations, public informational events, and holiday programming for children.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 6
  • Transparency & Controls: 78
  • Accountability: 12
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 3.4%; rating input score 3
  • Program expense ratio: 6.8%; rating input score 7
  • Fundraising efficiency: $3.97 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 70.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 4.99; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 43.8% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 54.7% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 3.4% of revenue deployed · 6.8% of spending went to programs
  • Governance: 0 of 11 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $6K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 16 of 18 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 3/100.
  • High — Financial Efficiency: Program expense ratio scored 7/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.