Anchorage Library Foundation

Nonprofit profile at a glance

EIN
920081583
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Anchorage, AK, USA
Phone
9072315013
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$544,768
Expenses
$280,940
Assets
$16,841,615
Liabilities
$43,929

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • KIM HAYS (PRESIDENT)

Highest reported compensation

  • SHANNA ALLEN (EXECUTIVE DI): $65,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Believing that free public libraries are essential to our community, the anchorage library foundation works to promote, fund and support the long- term vitality of the anchorage public library.

What it reported doing in 2024

Anchorage library renewal initiative: the goal of the initiative is to build modern libraries that encourage lifelong learning and community engagement, and reflect the diversity of anchorage's neighborhoods and residents. This multi-year program envisions renovations and/or upgrades to anchorage public library facilities, as well as investment in new programs and activites. Current projects include building a new Alaska room at loussac library, the social worker in the library, and furniture and equipment upgrades at neighborhood libraries.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. 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: 30
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 83
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27.3%; rating input score 27
  • Program expense ratio: 33.8%; rating input score 34
  • Fundraising efficiency: $8.99 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

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: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 48.4%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 59.95; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 23.1%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: -14.2% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -3.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 27.3% of revenue deployed · 33.8% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $95K in reported program spending
  • Leadership: top reported pay $65K · 15 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 27/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 34/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 11/100.