Seekonk Library Trust

Nonprofit profile at a glance

EIN
222969879
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Seekonk, MA, USA
Phone
5083368230
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$40,505
Expenses
$12,840
Assets
$725,161
Liabilities
$0

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

Leadership & pay

4 people listed

People named in this filing

  • Paul Nunes (Treasurer)
  • Michael Seebeck (Secretary)
  • Leslie Guglielmo (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Seekonk Library Trust provides financial resources for the Seekonk Public Librarys long-term needs to ensure the Library is an enduring foundation of community life.

What it reported doing in 2024

Books, Subscriptions, Maintenance Improvements to the Garden Area and all Common Grounds.

Operating model

Revenue model
Investment-supported. 68% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. 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: 10
  • Transparency & Controls: 81
  • Accountability: 12
  • Sustainability: 86
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.3%; rating input score 6
  • Program expense ratio: 20%; rating input score 20
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 68.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 56.48; rating input score 92; 92nd 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: 5.6% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 40th percentile among comparable filings

Details

  • Where the money goes: 6.3% of revenue deployed · 20% of spending went to programs
  • Governance: 0 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 12 of 14 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 6/100.
  • High — Financial Efficiency: Program expense ratio scored 20/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.