Fairfield Public Library Foundation Inc

Nonprofit profile at a glance

EIN
721561064
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fairfield, IA, USA
Phone
6414726551
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$256,196
Expenses
$81,819
Assets
$2,295,198
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • KIKI KOSSOW (PRESIDENT)

Highest reported compensation

  • ALECS SCHMIDT MICKUNAS (VICE-PRESIDE): $81,229 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 solicit, receive and administer gifts, grants and bequests and to disburse funds for the general welfare, maintenance and improvement of the fairfield public library.

What it reported doing in 2024

Providing assistance for the welfare, maintenance and improvement of the fairfield public library.

Operating model

Revenue model
Donor-supported. 65% 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.

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: 73
  • Transparency & Controls: 94
  • Accountability: 71
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.1%; rating input score 74
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 68.1%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 28.05; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 17.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 74.1% of revenue deployed · 97% of spending went to programs
  • Governance: 6 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $79K in reported program spending
  • Leadership: top reported pay $81K · 7 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 22/100.