Magnolia Library Center Inc
Nonprofit profile at a glance
- EIN
- 237089725
- IRS 990-EZ coverage
- 2014–2024
- Forms available
- Form 990-EZ 2024
- Location
- Gloucester, MA, USA
- Phone
- 9785253343
- Rating
- 96
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $76,514
- Expenses
- $94,943
- Assets
- $277,902
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- CURTIS HENDERSON (VICE PRESIDENT)
- CHRISTOPHER L BOUCHER (PRESIDENT)
People named in this filing
- CURTIS HENDERSON (VICE PRESIDENT)
- KILEY DAVIS (TREASURER)
- NYING-JEPO NEW GALLO (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To maintain a library, reading room, functions room, and a place for social meetings to support the community and to promote the well being, comfort and pleasure of the residents of gloucester.
What it reported doing in 2024
To maintain a library, reading room, functions room, and a place for social meetings to support the community
Operating model
- Revenue model
- Donor-supported. 98% of the money available for current operations came from contributions and gifts.
- 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. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 98
- Transparency & Controls: 100
- Sustainability: 38
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 95.5%; rating input score 96
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -24.1%; rating input score 21; 21st percentile among comparable filings
- Total-asset coverage ratio: 2.93; rating input score 74; 74th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 46.1% per year; rating input score 100; 92nd percentile among comparable filings
- Revenue growth: 6.4% per year; rating input score 100; 75th percentile among comparable filings
- Asset growth: 7.5% per year; rating input score 100; 66th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 95.5% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $91K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- Filing history: 10 filing years from 2014 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 — Sustainability: Operating margin scored 21/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.