Cotuit Library Association

Nonprofit profile at a glance

EIN
042203831
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cotuit, MA, USA
Phone
5084288141
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$724,088
Expenses
$488,220
Assets
$3,056,690
Liabilities
$7,884

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

Leadership & pay

10 people listed

Executive titles in this filing

  • KARL VASILOFF (PRESIDENT)

People named in this filing

  • KARL VASILOFF (PRESIDENT)
  • PAUL MORRIS (1ST VICE PRE)
  • KATHLEEN O'NEILL LYNCH (2ND VICE PRE)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Free lending library

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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.3%; rating input score 63
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $14.87 raised per $1 spent on fundraising; rating input score 50; 50th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Pass

Sustainability

  • Operating margin: 32.6%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 6.26; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 63.3% of revenue deployed · 81.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $396K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 50/100.