The Millicent Library

Nonprofit profile at a glance

EIN
042121363
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fairhaven, MA, USA
Phone
5089925342
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$950,974
Expenses
$962,309
Assets
$1,785,165
Liabilities
$98,265

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

Leadership & pay

20 people listed

Executive titles in this filing

  • KATHY L LOPES (PRESIDENT)

Highest reported compensation

  • KYLE DECICCO-CAREY (SECRETARY/DI): $102,614 total reported compensation

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

Overview

Mission

Public lending library

What it reported doing in 2024

Operations of a public library

Operating model

Revenue model
Grant-funded. 90% of the money available for current operations came from government grants.
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

SUPPORTED - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.9%; rating input score 82
  • Program expense ratio: 79.6%; rating input score 80
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.2%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 1.86; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 81.9% of revenue deployed · 79.6% of spending went to programs
  • Governance: 20 of 21 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $766K in reported program spending
  • Leadership: top reported pay $103K · 20 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.