Oclc Inc

What it reported doing in 2024

Oclc is a nonprofit global library organization providing shared technology services, original research, and community programs so that libraries can better fuel learning, research, and innovation. Through oclc, member libraries cooperatively produce and maintain worldcat, the most comprehensive global network of data about library collections and services. Libraries gain efficiencies through oclc's worldshare, a complete set of library management applications and services built on an open, cloud-based platform. It is through collaboration and sharing of the world's collected knowledge that libraries can help people find answers they need to solve problems. (continued on schedule o)in fy25, oclc helped libraries around the globe respond to technological, fiscal, and social changes. We responded to the emergence of the artificial intelligence revolution by responsibly deploying ai to deliver measurable improvement to library services. We answered the call of libraries facing financial uncertainty by continuing to create software specifically designed to make libraries more efficient. We deepened our partnerships with the library community through sales, product, and research successes as together we explore ways in which libraries can evolve to meet the new needs of their communities.worldcat: worldcat is the cornerstone of our services for libraries. It is the world's most comprehensive database of information about library collections. With more than 600 million bibliographic records representing 3.5 billion items in library collections around the world, worldcat an essential service to find and access library collections. It allows libraries to dramatically reduce time spent on cataloging and collection development by uniquely enabling libraries to share metadata contributions from libraries, publishers, and oclc. In fy25, 405 million new bibliographic records were created, and 16.6 million records were exported saving participating libraries 2.7 million staff hours last year. These savings are the result of significant and ongoing technology and staff investments by oclc. Last year for example, oclc staff and technologies improved the quality of 366.9 million worldcat bibliographic records, while libraries improved the quality of an additional 2.4 million records. These quality improvements create additional time savings for cataloging libraries and improved the discoverability of and access to information for library users. E-resources are a central component of worldcat services. At the end of fy25, worldcat included information on 139 million open access items and had 4 billion records that contain article metadata with links to full text. To support libraries in their continuing adoption of linked data record formats, oclc introduced 189 million worldcat entities uris across 300 million worldcat records. These linked data entities form the backbone of improved discoverability for library users by identifying previously unseen connections between different library items. Oclc cataloging applications worldshare record manager and connexion were enhanced to allow libraries to add worldcat entities uris directly into worldcat marc records. Dewey decimal classification system: as part of our linked data strategy, we unlocked the power of the dewey decimal classification (ddc) system by creating uniform resource identifiers (uris) for dewey numbers. As the foundation for "concept" entities, this dewey linked data provides subject classifications to works entities in worldcat entities, creating a layer of new relationships for knowledge graphs that power discovery.resource sharing services: responsible innovation through the application of artificial intelligence was the hallmark of oclc's work in resource sharing in fy25. By analyzing lending patterns within the oclc data network, we have been able to dramatically reduce fulfillment times across all oclc resource sharing platforms. Intelligent timing was the most recent featu

Financial Efficiency

• Mission deployment rate: 88.9%; rating input score 89
• Program expense ratio: 89.9%; rating input score 90
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 60.5%; rating input score 61; 12th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 92.9%; rating input score 93; 42nd 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: 1.8%; rating input score 41; 41st percentile among comparable filings
• Total-asset coverage ratio: 2; rating input score 63; 63rd percentile among comparable filings
• Liabilities to assets ratio: 0.3; rating input score 56; 56th percentile among comparable filings
• Officer compensation ratio: 3.3%; rating input score 34; 34th percentile among comparable filings

Growth

• Program expense growth: 1.1% per year; rating input score 100; 11th percentile among comparable filings
• Revenue growth: 1.3% per year; rating input score 100; 10th percentile among comparable filings
• Asset growth: 2.4% per year; rating input score 100; 17th percentile among comparable filings