Sodus Community Library

Nonprofit profile at a glance

EIN
271297186
IRS 990 coverage
2011–2013
Forms available
Form 990 2013, Form 990-EZ 2009
Location
Sodus, NY, USA
Phone
3154839292
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Libraries

Official website

Reported finances

Revenue
$604,070
Expenses
$351,393
Assets
$2,187,279
Liabilities
$638,800

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • JANIE HYLAND (TRUSTEE AND VICE PRESIDENT)
  • CAROL SERGEANT (TRUSTEE AND PRESIDENT)

Highest reported compensation

  • KIMBERLY WEMESFELDER (TRUSTEE AND TREASURER): $8,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide library services to meet the needs of the people it is chartered to serve.

What it reported doing in 2013

The library makes available print and non-print materials in varied formats for patrons of all ages to borrow. The library provides instructional, educational, and recreational programming for patrons of all ages; these include weekly preschool story hours and an annual six-week intensive summer reading program to promote literacy and library use.

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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 81
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.2%; rating input score 45
  • Program expense ratio: 79%; rating input score 79
  • Fundraising efficiency: $18.81 raised per $1 spent on fundraising; rating input score 61; 61st 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 41.8%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 6.22; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 39.4% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 23.5% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 45.2% of revenue deployed · 79% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $278K in reported program spending
  • Leadership: top reported pay $8K · 10 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2011 to 2013
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.