Richmond Memorial Library Associati

Nonprofit profile at a glance

EIN
066056067
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Marlborough, CT, USA
Phone
8602956210
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$504,928
Expenses
$489,565
Assets
$609,266
Liabilities
$10,272

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

Leadership & pay

10 people listed

Executive titles in this filing

  • HELEN MALINKA (PRESIDENT)

Highest reported compensation

  • AUBREY MUSCARO (LIBRARY DIRE): $112,878 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Library services for the town of marlborough

What it reported doing in 2024

Provision of information through the purchase of books, periodicals, video, and audio dvds and recorded books. Computer provided to allow online access to the public. The library is open 6 days per week.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 86
  • Accountability: 79
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.9%; rating input score 87
  • Program expense ratio: 89.5%; rating input score 89
  • Fundraising efficiency: $57.88 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 1.24; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 23.1%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 86.9% of revenue deployed · 89.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $438K in reported program spending
  • Leadership: top reported pay $113K · 10 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.