Porter Memorial Library Association

Nonprofit profile at a glance

EIN
510183477
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Machias, ME, USA
Phone
2072710265
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$101,681
Expenses
$94,936
Assets
$1,013,211
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Sarah Craighead Dedmon (President)
  • Randall Kindleberger (Vice President)

Highest reported compensation

  • Lee Downing (Library Director): $40,320 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Porter Memorial Library provides books periodicals and other media for use and circulation as well as free internet access and computer use for Machias and surrounding communities. In addition the library provides cultural and entertainment programming for all ages throughout the year.

What it reported doing in 2023

Providing books periodicals and other media to patrons

Operating model

Revenue model
Donor-supported. 72% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 62
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.4%; rating input score 93
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.6%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 10.67; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 42.5%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 13.5% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: -5.4% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 93.4% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $95K in reported program spending
  • Leadership: top reported pay $40K · 10 people listed
  • Consistency: 44 of 44 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.