Friends of Tye Preston Memorial Library

Nonprofit profile at a glance

EIN
742140555
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024, Form 990-N 2022
Location
Canyon Lake, TX, USA
Phone
8309643744
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$202,394
Expenses
$183,194
Assets
$46,902
Liabilities
$112

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Jim Little (President)

People named in this filing

  • Jim Little (President)
  • Cazilda Steele (VP - Membership)
  • Gayle Tober (VP-Fundraising)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mission Statement: The Friends of the Tye Preston Memorial Library is a 501(c)(3) organization formed to support the growth, development and welfare of the library. Its tax ID number is 74-2140555. All funds raised by Friends' activities directly support the library.

What it reported doing in 2025

Donations to Library General Funds to support Adult, Youth and Children Programming: Over 30 weekly and monthly and special programs are presented. Funds are also used to replace needed equipment. Children's events: 3,847 participants.

Operating model

Revenue model
Donor-supported. 86% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 44
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.5%; rating input score 93
  • Program expense ratio: 97.5%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 27th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st 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; 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: 9.5%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 12.6% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 37% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 92.5% of revenue deployed · 97.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $179K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 44 of 45 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.