Swampscott Public Library Inv Trust

Nonprofit profile at a glance

EIN
760779954
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Swampscott, MA, USA
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$17,794
Expenses
$39,501
Assets
$177,426
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • JOHANNAH MORGAN (TRUSTEE)
  • DEBBIE FRIEDLANDER (TRUSTEE)
  • NEIL DECHILLO (TRUSTEE)

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

Hold & manage trust property in accordance with the trust instrument & apply the income from such property, in trustees discretion, for renovation or construction of the swampscott public library building & replacement or improvement of furnishings & equipment within building.

What it reported doing in 2024

The trust created awareness of the needs of the swampscott library within the community.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

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

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.9%; rating input score 83
  • 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: 100%; rating input score 100; 64th 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: -122%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 4.49; rating input score 47; 47th 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: 30.7% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $33K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Sustainability: Operating margin scored 17/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.