Locust Valley Library

Nonprofit profile at a glance

EIN
111797178
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Locust Valley, NY, USA
Phone
5166711837
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,897,393
Expenses
$1,722,985
Assets
$4,560,119
Liabilities
$2,803,459

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

Leadership & pay

8 people listed

Executive titles in this filing

  • KERIAN CARLSTROM (President)
  • ELLEN HANES (Vice President)

Highest reported compensation

  • NADINE BUCCILLI (DIRECTOR): $124,418 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
Grant-funded. 88% of the money available for current operations came from government grants.
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

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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 86
  • Accountability: 94
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.9%; rating input score 71
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.2%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 2.65; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 70.9% of revenue deployed · 76.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $124K · 8 people listed
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Document-retention policy not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.