Lake Memorial Library Fund
Nonprofit profile at a glance
- EIN
- 646020755
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Ridgeland, MS, USA
- Phone
- 6017908048
- Rating
- 37
- Verdict
- REVIEW
- Rating confidence
- Moderate
Reported finances
- Revenue
- $144,434
- Expenses
- $31,853
- Assets
- $2,408,601
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Highest reported compensation
- REGIONS BANK (TRUSTEE): $19,547 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Support of city of jackson public school libraries
Operating model
- Revenue model
- Investment-supported. 99% of the money available for current operations came from recurring investment income.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 12
- Sustainability: 84
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- 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: Limited
- Governance controls: 2 of 9 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Limited
- Other executive compensation review process: Limited
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 77.9%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 75.62; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 61.4%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: -18.8% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 45th percentile among comparable filings
- Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 2 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $20K · 1 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 4 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Governance controls: 5 of 7 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 2/100.