Overview
What is Friends Of The Millinocket Memorial Library?
Friends of The Millinocket Memorial Library is a nonprofit organization located at 5 Maine Avenue, Millinocket, ME 04462. Their primary mission is to support the local town library by raising funds through various events and donations. The money collected is transferred to the Millinocket Memorial Library Board to help cover operational expenses, ultimately benefiting the public. This organization's efforts aim to ensure the library continues to serve the community effectively.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (61%, Two-Star out of Four Star rating).
Friends Of The Millinocket Memorial Library has received a rating indicating the need for improvement, primarily due to significant gaps in governance and transparency practices. While the organization scored a perfect 100% in accountability and finance metrics, it lacks essential policies, such as a conflict of interest policy, whistleblower policy, and document retention policy, which are critical for maintaining integrity and trust.
The board structure is a strong point, with a fully independent board composed entirely of ten members and no material diversion of assets noted. However, the absence of several required documents on their website, such as meeting minutes and tax forms, detracts from their transparency. The program expense ratio suggests that a solid portion of their budget is directed towards program-related activities, but overall organizational transparency may hinder potential support from donors and the community at large.
In summary, while the Friends Of The Millinocket Memorial Library demonstrates strong governance through its independent board and sound financial ratios, the lack of necessary policies and documentation limits its rating. Addressing these deficiencies could enhance their credibility and effectiveness within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of The Millinocket Memorial Library legitimate?
Friends Of The Millinocket Memorial Library is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The Millinocket Memorial Library submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Friends Of The Millinocket Memorial Library?
The mission of Friends of The Millinocket Memorial Library is centered around raising funds to support their local library. This organization aims to continue their financial contributions, channeling donations and earnings from various fundraisers towards the Millinocket Memorial Library Board. The primary objective is to assist in covering operational expenses, ultimately benefiting the public by ensuring the library continues to serve the community effectively.
Who is the CEO of Friends Of The Millinocket Memorial Library?
Theresa Macdonald is the President of Friends Of The Millinocket Memorial Library.
What is the revenue of Friends Of The Millinocket Memorial Library?
Friends Of The Millinocket Memorial Library's revenue in 2022 was $30,504.
Who are the executives of Friends Of The Millinocket Memorial Library and what are their salaries?
There 10 volunteers at Friends Of The Millinocket Memorial Library.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Friends Of The Millinocket Memorial Library?
Friends Of The Millinocket Memorial Library's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Of The Millinocket Memorial Library
Friends of the Millinocket Memorial Library is an organization dedicated to supporting its local library. Their mission is to continuously raise funds to aid in the library's operational expenses, ultimately benefiting the community at large. They accomplish this by acquiring donations and revenue from various fundraisers. These resources are then transferred to the Millinocket Memorial Library Board, ensuring the library's ongoing operations and services for the public.
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Impact
August, 2024
The Friends Of The Millinocket Memorial Library have had a significant impact on the community of Millinocket by helping to fund the town library. Through donations and proceeds from fundraisers, this group has transferred funds to the Millinocket Memorial Library board to assist with operational expenses, benefiting the public. Their mission to continue raising money to support the town library has not only helped sustain the library but has also contributed to educational opportunities for residents in the area.
This information is meant to be a general summary of Friends Of The Millinocket Memorial Library. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $25
- Gross Receipts: $30,504
Assets and Liabilities:
- Total Assets: $37,358
- Total Liabilities: $0
- Net Assets: $37,358
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Organization Details
Founding Year
1999
Phone
(207) 723-7020Principal Officer
Theresa Macdonald
Main Address
5 MAINE AVENUE, MILLINOCKET, ME, 04462
NTEE Category
Code: B19 - Education
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