The Harvard Library in New York

Nonprofit profile at a glance

EIN
132947755
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128271235
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$179,622
Expenses
$416,820
Assets
$0
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • RICHARD M CHAPMAN (PRESIDENT)
  • STEPHEN T KELLY (VICE PRESIDENT)

People named in this filing

  • RICHARD M CHAPMAN (PRESIDENT)
  • STEPHEN T KELLY (VICE PRESIDENT)
  • ANDREW W VAN HOUTEN (TREASURER)

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

To stimulate and maintain interest in good literature by raising, administering and expending funds for the establishment and maintenance of a library in the city of New York to be located at the harvard club of New York city.

What it reported doing in 2024

The harvard library in New York works to promote the educational stimulation and appreciation of literature for its guests, members and researchers. Adequate available information from resources such as periodicals, newspapers and books ensure this goal is met. Additionally, the library expends funds for the refurbishment and preservation of its literary collection.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 50% for direct work, and 50% for 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 9
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.8%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: -132.1%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -3.1% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: -3.8% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -8.2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $341K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.