Foundation for Mo County Free Libraries

Nonprofit profile at a glance

EIN
770256346
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Marina, CA, USA
Phone
8314243564
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$359,452
Expenses
$370,759
Assets
$764,670
Liabilities
$68,302

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

Leadership & pay

11 people listed

Executive titles in this filing

  • NANCY HARRAY (PRESIDENT)
  • NISHA ADDLEMAN (EXECUTIVE DIRECTOR)
  • JULIE POOL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JULIE POOL (EXECUTIVE DIRECTOR): $78,121 total reported compensation
  • NISHA ADDLEMAN (EXECUTIVE DIRECTOR): $630 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 assist the monterey county free libraries in providing access to information, education, and recreational materials, and lifelong learning opportunities to the diverse cultural, linguistic, urban, and rural communities it serves.

What it reported doing in 2024

Provided funding to monterey county free libraries to support initiatives including but not limited to homework centers, children and youth programs such as summer reading club and winter reading club, technology resources, books and materials, and adult literacy.

Operating model

Revenue model
Donor-supported. 81% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.

The verdict

SUPPORTED - 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: 60
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 38
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.4%; rating input score 65
  • Program expense ratio: 60.3%; rating input score 60
  • Fundraising efficiency: $10.03 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.1%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 2.06; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 21.2%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 1.1% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: -1.8% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 65.4% of revenue deployed · 60.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $224K in reported program spending
  • Leadership: top reported pay $78K · 11 people listed
  • Consistency: 28 of 28 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: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.