Reader Foundation

Nonprofit profile at a glance

EIN
460989638
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Llano, TX, USA
Phone
8067732284
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$2,143
Expenses
$6,428
Assets
$638,941
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Leila Green Little (President)

People named in this filing

  • Leila Green Little (President)
  • Jeanne Puryear (Treasurer)
  • Rebecca Jones (Vice Persident)

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

Through advocacy and financial grants the LCLSF will provide long-term support to help all 3 library branches to keep their doors open and provide exemplary service for our community.

What it reported doing in 2024

Funded an author visit

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 49
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th 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: -200%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 99.4; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 75.6% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -127.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89% of spending went to programs
  • Governance: 0 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $6K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.