Peninsula Library Foundation

Nonprofit profile at a glance

EIN
341751216
IRS 990 coverage
2015–2023
Forms available
Form 990 2023
Location
Peninsula, OH, USA
Phone
3306572291
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$292,387
Expenses
$53,527
Assets
$2,468,040
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • CATHERINE TIMKO (VICE PRESIDENT)
  • NICHOLAS BELLUARDO (PRESIDENT)

People named in this filing

  • CATHERINE TIMKO (VICE PRESIDENT)
  • MICHAEL DUFF (DIRECTOR)
  • STEVE BACKHURST (DIRECTOR)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The peninsula library foundation, a functionally integrated but independently organized entity operated by volunteers serving as its board of trusteees, exits solely to support the peninsula library historical society plhs, through a managed endowment fund.

What it reported doing in 2023

The peninsula library foundation solicited and accepted donations to build its endowment fnd which directly supports the peninsula library foundation, as responsible stewards of the foundations resources and to fulfill its mission, the foundation board regularly reviewed investment performance and met with investment advisors. Following a board-approved distribution policy, the foundation board provided support for the peninsula library historical society. Since 2010 the foundation has provided 204,862.20 to the peninsula library hisotrical society in ten annual disbursements. This year, the foundation agreed to support the peninsula library historical societys capital improvements project and encouraged members of the community to donate directly to this much needed library renovation.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 93
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.3%; rating input score 16
  • Program expense ratio: 51.9%; rating input score 52
  • Fundraising efficiency: $116.99 raised per $1 spent on fundraising; rating input score 87; 87th 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; 81st 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: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 81.7%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 46.11; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 16.3% of revenue deployed · 51.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $28K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2015 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 16/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.