Shelter Island Public Library Society

Nonprofit profile at a glance

EIN
112015667
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Shelter Island, NY, USA
Phone
6317490042
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,812,900
Expenses
$1,013,316
Assets
$10,104,636
Liabilities
$160,100

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

Leadership & pay

14 people listed

Executive titles in this filing

  • HENRY FAYNE (President)
  • JO-ANN ROBOTTI (Vice President)

Highest reported compensation

  • TERRY LUCAS (DIRECTOR): $158,988 total reported compensation

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

Overview

Mission

To provide state-of-the-art resources, services and technologies to meet the current and evolving needs of the community.

What it reported doing in 2024

Provide library services to community.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.3%; rating input score 59
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: $587.89 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.1%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 9.97; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 15.7%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 59.3% of revenue deployed · 83.1% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $842K in reported program spending
  • Leadership: top reported pay $159K · 14 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 59/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 22/100.