New Haven Free Public Library Foundation Incorporated

Nonprofit profile at a glance

EIN
061283798
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
New Haven, CT, USA
Phone
2039468139
Rating
93
Verdict
STRONG
Rating confidence
Moderate
Sector
Libraries

Official website

Reported finances

Revenue
$676,638
Expenses
$2,610,915
Assets
$441,757
Liabilities
$0

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Mary Ellen Savage (President)
  • Sean C Koehler (Vice President)

People named in this filing

  • Mary Ellen Savage (President)
  • Sean C Koehler (Vice President)
  • Thomas M Haskell (Treasurer)

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

To work collaboratively with the New Haven Free Public Library to raise funds to support major initiatives and innovative projects that enhance the services of the Library to the residents of New Haven.

What it reported doing in 2024

The purpose of the New Haven Free Public Library Foundation is to raise funds--general operating, project-specific funding, and endowment--on behalf of the New Haven Free Public Library. These funds are periodically transferred from the Foundation to the library to provide resources to help the Library improve its collection of print and online resources; deliver crucial community services and programs to the entire City of New Haven; provide support for strategic priorities and projects; and sustain the public library as a free and democratic institution for future generations. The New Haven Free Public Library Foundation promotes the work of the library, builds community support, and provides oversight and stewardship of contributed funds.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.8%; rating input score 99
  • Fundraising efficiency: $49.71 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -285.9%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 21.2% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 10.9% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.8% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 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.

  • High — Sustainability: Operating margin scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.