Montecito Friends of the Library

Nonprofit profile at a glance

EIN
953614638
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Santa Barbara, CA, USA
Phone
8055708483
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$237,765
Expenses
$187,099
Assets
$1,525,746
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • PAT SALEY (PRESIDENT)

People named in this filing

  • PAT SALEY (PRESIDENT)
  • KENDRA EPLEY (TREASURER)
  • KELLY HATCHETT (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The montecito friends of the library is a non-profit organization formed to raise much needed funds in order to supplement the funding from the santa barbara public library. The ultimate goal of the organization is to offer this additional funding so the montecito library can continue to enhance its ability to provide comprehensive and innovative programming, timely resources & responsive assistance to foster a thriving community of learning, sharing and creating.

What it reported doing in 2024

Fostering community awareness, support and use of the facilities and programs of the montecito library by providing an annual grant to the santa barbara public library system, who in turn is better able to facilitate the sustainment of the montecito library at its highest level of operations. These public donations are ultimately used to help fund operations and sponsor programs designed to add to the cultural life of the community and to encourage the introduction and use of developing library technology, as well as supporting an active children's program in coordination with existing school and library programs.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.

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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 75.5%; rating input score 75
  • Fundraising efficiency: $8.67 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

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: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.3%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 8.15; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 84.6% of revenue deployed · 75.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $141K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 35/100.