The Library Foundation Inc

Nonprofit profile at a glance

EIN
830234279
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Gillette, WY, USA
Phone
3076870009
Rating
55
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$376,199
Expenses
$143,053
Assets
$3,241,169
Liabilities
$903,798

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DARA CORKERY (PRESIDENT)

Highest reported compensation

  • TERRI LESLEY (LIBRARY DIRE): $86,586 total reported compensation
  • JOHN JACKSON (LIBRARY DIRE): $27,003 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support of the library programs at campbell county public library.

What it reported doing in 2023

The library foundation is the fiscal sponsor of the dolly parton program. They agreed to be the fiscal sponsor because the project supports early literacy, which is also the purpose of the library. Fundraising is handled by two community members who took on this community project. These two individuals are volunteers who raise funds for books and sign up members of the community to receive free children's books for kids 0 to age 5. The dolly parton foundation provides the books via mail to kids at a greatly discounted price (the dolly parton foundation covers most of the cost of books/postage). The library foundation deposits fundraising proceeds and pays for the books out of the the library foundation's dolly parton fib bank account.

Operating model

Revenue model
Other-operating. 88% of the money available for current operations came from other operating revenue.
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

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 15
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.7%; rating input score 10
  • Program expense ratio: 25.4%; rating input score 25
  • Fundraising efficiency: $1.34 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

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; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 62%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 22.66; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 9.7% of revenue deployed · 25.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $36K in reported program spending
  • Leadership: top reported pay $87K · 10 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2010 to 2023
  • 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 10/100.
  • High — Financial Efficiency: Program expense ratio scored 25/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.