The Library Company of the Baltimore Bar

Nonprofit profile at a glance

EIN
520591622
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Baltimore, MD, USA
Phone
4107270280
Rating
32
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$444,163
Expenses
$372,504
Assets
$2,279,611
Liabilities
$132

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JOSEPH W BENNETT ESQUIRE (EXECUTIVE DIRECTOR)
  • GEORGE LIEBMANN ESQUIRE (PRESIDENT)

Highest reported compensation

  • JOSEPH W BENNETT ESQUIRE (EXECUTIVE DIRECTOR): $123,622 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 library company of baltimore is a legal research library for judges and lawyers of the baltimore bar. It is supported principally by membership dues, appearance fees, and investment income. No ubi.

What it reported doing in 2024

Events to promote the library and its mission including various speakers, movie night, and other events

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 83
  • Accountability: 16
  • Sustainability: 65
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 16.1%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 6.12; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 33.2%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -6.9% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 17 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $124K · 17 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.