Nantucket Atheneum Inc
Nonprofit profile at a glance
- EIN
- 042104412
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Nantucket, MA, USA
- Phone
- 5082281110
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $4,308,812
- Expenses
- $3,509,586
- Assets
- $32,435,642
- Liabilities
- $1,758,622
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
32 people listed
Executive titles in this filing
- ANN SCOTT (EXECUTIVE DIRECTOR)
Highest reported compensation
- ANN SCOTT (EXECUTIVE DIRECTOR): $279,190 total reported compensation
- MARGARET O'REILY (DEVELOPMENT DIRECTOR): $202,043 total reported compensation
- LINCOLN THURBER (HEAD REFERENCE LIBRARIAN): $119,701 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The nantucket atheneum, a private non-profit organization provides public library service to the island's year-round and seasonal residents, housed in a historic 1847 building and the weezie library for children. The atheneum collects, organizes and disseminates books, literature and other materials in a variety of formats to help users of all ages meet their recreational, personal, professional and intellectual needs. In keeping with its heritage, the atheneum also serves as a cultural center for the nantucket community by sponsoring educational programming and maintaining special collections related to the history and culture of the island.
What it reported doing in 2024
Operation of a public library for the town of nantucket.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 62
- Transparency & Controls: 76
- Accountability: 100
- Sustainability: 71
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 68.6%; rating input score 69
- Program expense ratio: 64.6%; rating input score 65
- Fundraising efficiency: $4.52 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- 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: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 18.5%; rating input score 75; 75th percentile among comparable filings
- Total-asset coverage ratio: 9.24; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 26.5%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings
- Revenue growth: 0.7% per year; rating input score 100; 14th percentile among comparable filings
- Asset growth: 5.7% per year; rating input score 100; 38th percentile among comparable filings
Details
- Where the money goes: 68.6% of revenue deployed · 64.6% of spending went to programs
- Governance: 23 of 23 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $2.3M in reported program spending
- Leadership: top reported pay $279K · 32 people listed · 3 of 6 pay-setting controls reported
- Consistency: 32 of 33 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 15/100.
- High — Sustainability: Officer compensation ratio scored 7/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.