Beardsley & Memorial Library

Nonprofit profile at a glance

EIN
060662106
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Winsted, CT, USA
Phone
8603796043
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$640,935
Expenses
$555,719
Assets
$3,403,288
Liabilities
$18,082

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Robert Geiger (Vice President)
  • Louise Van Alstyne (President)

Highest reported compensation

  • Kimmie L Stack Killmer (Libry Serv. Dir): $61,115 total reported compensation

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

Overview

Mission

To enrich the lives of patrons through promoting literacy, lifelong learning and cultural enrichment. This is accomplished through access to various collections, resources and programs offered to the population of our three service towns.

What it reported doing in 2024

Public library serving the towns of Winchester, Colebrook and Barkhamsted, Connecticut; provides access to various collections and resources; offers programs to the population of the organization's three service towns.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.5%; rating input score 77
  • Program expense ratio: 82.6%; rating input score 83
  • Fundraising efficiency: $358.59 raised per $1 spent on fundraising; rating input score 95; 95th 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: 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: 4 of 8 controls in place; rating input score 50
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.3%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 6.12; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 77.5% of revenue deployed · 82.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $459K in reported program spending
  • Leadership: top reported pay $61K · 14 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.