Lilly Library Association

Nonprofit profile at a glance

EIN
042116611
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Florence, MA, USA
Phone
4135871500
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$579,475
Expenses
$526,404
Assets
$6,181,985
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JAMES RIDDLE (PRESIDENT)
  • STEPHEN ERIKSON (VICE PRESIDENT)

Highest reported compensation

  • SARAH DARLING (TREASURER): $550 total reported compensation

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

Overview

Mission

Provide library services

Operating model

Revenue model
Earned-program. 73% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.9%; rating input score 83
  • Program expense ratio: 92.8%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.2%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 11.74; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 82.9% of revenue deployed · 92.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $488K in reported program spending
  • Leadership: top reported pay $550 · 9 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.