Boston Public Library Fund Inc

Nonprofit profile at a glance

EIN
043150560
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6178592027
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Libraries

Official website

Reported finances

Revenue
$7,541,977
Expenses
$5,757,405
Assets
$14,036,529
Liabilities
$141,635

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

Leadership & pay

21 people listed

Executive titles in this filing

  • TAYLOR BRENNAN (PRESIDENT, EMERGING LEADERS)
  • PAULA SAKEY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • PAULA SAKEY (EXECUTIVE DIRECTOR): $334,002 total reported compensation
  • CAROL ESTES-SCHWARTZ (DIRECTOR OF PHILANTHROPY AND LEGACY GIVING): $213,964 total reported compensation
  • SARAH DOW (DIRECTOR OF ADVANCEMENT SERVICES): $123,737 total reported compensation

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

Overview

Mission

The boston public library fund provides financial support to the boston public library (bpl), ensuring that it remains viable, engaging, accessible, and free to all. The library fund fulfills this mission by working in partnership with donors and other funders.

What it reported doing in 2024

Funds were provided to the boston public library for various program grants to support the mission of the boston public library.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.8%; rating input score 53
  • Program expense ratio: 63.3%; rating input score 63
  • Fundraising efficiency: $6.63 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 23.7%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 2.44; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 11.3% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 14.3% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 52.8% of revenue deployed · 63.3% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.6M in reported program spending
  • Leadership: top reported pay $334K · 21 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Financial Efficiency: Fundraising efficiency scored 25/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 25/100.