Friends of Gale Free Library

Nonprofit profile at a glance

EIN
223021983
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015, Form 990-N 2013
Location
Holden, MA, USA
Phone
5088293348
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$204,262
Expenses
$194,015
Assets
$1,115,403
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Karen Cavan (President)
  • Stephanie Adams (Vice President)

People named in this filing

  • Karen Cavan (President)
  • Stephanie Adams (Vice President)
  • Janet Foley (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Arts, culture & humanities: We have been able to maintain gifts to the library, benefitting tens of thousands of people using Gale Free Library resources.

What it reported doing in 2024

Enabled the Gale Free Library to undertake a historic stained glass window restoration estimated to cost in excess of $200,000 by providing funding in the amount of $150,000

Operating model

Revenue model
Donor-supported. 85% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 83
  • Accountability: 64
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.9%; rating input score 95
  • Program expense ratio: 97.6%; rating input score 98
  • Fundraising efficiency: $46.63 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.5%; rating input score 99; 60th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 5.75; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 39.5% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 94.9% of revenue deployed · 97.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 1 of 7 filing controls reported
  • Programs: 5 filed program accomplishments · $189K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 41 of 43 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 7 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.