Friends of the Library of Hardee Co

Nonprofit profile at a glance

EIN
592588893
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Wauchula, FL, USA
Phone
8638323475
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$244,537
Expenses
$59,058
Assets
$1,314,575
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • NICOLE DRAKE (PRESIDENT)

People named in this filing

  • NICOLE DRAKE (PRESIDENT)
  • JEANNIE PALACIOS (VICE PRESIDE)
  • GERALD SHACKELFORD (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

Committed to promoting literacy and inspiring a lifelong love of reading in people of all ages.

What it reported doing in 2024

Promoted literacy and inspired a lifelong love of reading in people of all ages.

Operating model

Revenue model
Investment-supported. 90% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 86% 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 - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 91
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.3%; rating input score 87
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 75.8%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 22.26; rating input score 96; 96th 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: 28.9% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -42.1% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $52K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.