The Greenwich Library

Nonprofit profile at a glance

EIN
066002281
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Greenwich, CT, USA
Phone
2036227900
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Libraries

Official website

Reported finances

Revenue
$3,646,635
Expenses
$5,240,299
Assets
$87,521,757
Liabilities
$285,455

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

Leadership & pay

23 people listed

Executive titles in this filing

  • DIANA SEATON (SECOND VICE PRESIDENT)
  • HANK ASHFORTH (FIRST VICE PRESIDENT)
  • IAN MURRAY (PRESIDENT)

Highest reported compensation

  • LISA MANDEL (DIRECTOR OF DEV.): $194,755 total reported compensation
  • PEGGY PEI (ACCOUNTING MANAGER): $121,529 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 exceptional resources, programs, and services that promote the joy of lifelong learning and discovery, and to offer a welcoming place for people to gather and share experiences.

What it reported doing in 2024

Peterson funded operations: the clementine lockwood peterson foundation is a separate entity operated by independent trustees, funds the maintenance and operations of the peterson wing of the main library through an agreement between the library and the town of greenwich. This wing offers services and materials focused on business, music, and the arts.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: $12.25 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -43.7%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 16.7; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.8% of spending went to programs
  • Governance: 21 of 21 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.6M in reported program spending
  • Leadership: top reported pay $195K · 23 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.