Larkspur Library Foundation

Nonprofit profile at a glance

EIN
942466558
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Larkspur, CA, USA
Phone
4159565700
Rating
59
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$41,031
Expenses
$16,153
Assets
$727,573
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • LAWRENCE R LANCTOT (PRESIDENT)

People named in this filing

  • LAWRENCE R LANCTOT (PRESIDENT)
  • LORRAINE OCHELTREE (SECRETARY)
  • NICK TARLSON (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

Support for the larkspur public library in larkspur, California

What it reported doing in 2024

After donating $127,979 to the library in 2022 we worked on rebuilding our assets to fund future donations

Operating model

Revenue model
Investment-supported. 66% 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

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 26
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 84
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19%; rating input score 19
  • Program expense ratio: 34.6%; rating input score 35
  • Fundraising efficiency: $3.78 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 60.6%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 45.04; rating input score 90; 90th 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: 12.9% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: -3% per year; rating input score 0; 49th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 19% of revenue deployed · 34.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $6K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 19/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 35/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Growth: Revenue growth scored 0/100.