Friends of the Wells-turner Mem Library Inc

Nonprofit profile at a glance

EIN
237299366
IRS 990-EZ coverage
2015–2024
Forms available
Form 990-EZ 2024
Location
Glastonbury, CT, USA
Phone
8606527728
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$93,262
Expenses
$44,710
Assets
$365,823
Liabilities
$6,670

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Patty Matthews (President)
  • Anne Magnevita (Vice President)

People named in this filing

  • Patty Matthews (President)
  • Anne Magnevita (Vice President)
  • Carolyn Coogan (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To generate revenue for the betterment and support of a public library.

What it reported doing in 2024

A scholarship is awarded to a graduating senior who is entering an accredited college or technical school and has demonstrated strong academic achievement and good citizenship.

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 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 82
  • Sustainability: 79
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.5%; rating input score 48
  • Program expense ratio: 73.8%; rating input score 74

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 52.1%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 8.18; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -7.6% per year; rating input score 0; 31st percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 31st percentile among comparable filings

Details

  • Where the money goes: 47.5% of revenue deployed · 73.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $33K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2015 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 — Financial Efficiency: Mission deployment rate scored 48/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.