Tappan Spaulding Memorial Library

Nonprofit profile at a glance

EIN
870801100
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
Location
Newark Valley, NY, USA
Phone
6076429960
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$43,905
Expenses
$67,284
Assets
$567,897
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Erin Chapman (Executive Director)
  • Kirstie Hardenstine (President)

Highest reported compensation

  • Erin Chapman (Executive Director): $28,465 total reported compensation

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

Overview

Mission

The Tappan-Spaulding Memorial Library strives to serve the community; we will work towards customizing library services to fit the needs of the community, implement technologies and designs to maximize customer conveniences and staff development, foster partnerships with our community partners, and position the library to be prepared for the demands of the coming decades.

What it reported doing in 2024

The library provides books, magazines, audiobooks, movies, and video games for all ages. We also have computers for public use and offer printing, copying and faxing. We provide programming for all ages year-round including a summer reading program which spans over 6 weeks during the summer. Kids keep track of their reading minutes then earn prizes throughout the summer. During the summer reading program, we also have a program with a different performer each week to promote curiosity, foster imagination, and further education.

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 available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 40
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.2%; rating input score 84
  • 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: Yes; rating input score 100
  • 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: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -53.2%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 8.44; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 42.3%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -124.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 26.7% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.2% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $57K in reported program spending
  • Leadership: top reported pay $28K · 5 people listed
  • Consistency: 39 of 39 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.