Cobb Library Foundation

Nonprofit profile at a glance

EIN
542099875
IRS 990 coverage
2014–2022
Forms available
Form 990 2022, Form 990-EZ 2013
Location
Marietta, GA, USA
Phone
7705282196
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$76,663
Expenses
$83,861
Assets
$188,512
Liabilities
$392

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Becca Duvall (President)
  • Nona Lacy (Vice President)
  • Abby Shiffman (2nd Vice President)

People named in this filing

  • Becca Duvall (President)
  • Nona Lacy (Vice President)
  • William Tanks (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Cobb County Library Foundation provides support to the Cobb County Library System by raising funds and seeking community contributions and business partnerships, in order to support the Systems mission to build a stronger community through education and economic growth.

Operating model

Revenue model
Other-operating. 80% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 50% for direct work, and 50% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 45
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.4%; rating input score 67
  • Program expense ratio: 61.5%; rating input score 62
  • 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; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -9.4%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 2.25; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -6.2% per year; rating input score 0; 38th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 62nd percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 67.4% of revenue deployed · 61.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $52K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 37 of 37 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2014 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.