Friends of the Library Virginia Beach Inc

Nonprofit profile at a glance

EIN
541064465
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7574969586
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$99,012
Expenses
$71,399
Assets
$402,866
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Pam Levinson (President)
  • Mary Jane Morewitz (Vice President)
  • Nancy Parker (Immediate Past President)

People named in this filing

  • Anne T Jordan (Treasurer)
  • Pam Levinson (President)
  • Mary Jane Morewitz (Vice President)

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

To promote the mission and services of the Virginia Beach Public Library through advocacy and programming support, and to support similar related activities.

What it reported doing in 2024

The Summer Reading Program is an annual event of the City of Virginia Beach Public Library System. The Friends provide funding for this program, which is designed to prevent summer learning loss, a cumulative problem that contributes to the achievement gap betweeen at-risk and higher-income families. Programs are available for library patrons of all ages, but the primary focus is on children. In the summer of 2024, approximately 9,000 individuals completed the Summer Reading Challenge.

Operating model

Revenue model
Investment-supported. 63% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 58
  • Accountability: 64
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.2%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 21st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: 27.9%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 5.64; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 12% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $64K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • 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.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.