The Perrot Memorial Library Associa of Old Greenwichinc

Nonprofit profile at a glance

EIN
061012967
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Old Greenwich, CT, USA
Phone
2036371066
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,942,800
Expenses
$1,907,644
Assets
$7,621,855
Liabilities
$1,440

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

Leadership & pay

18 people listed

Executive titles in this filing

  • KATHY MCCORMACK (PRESIDENT)

People named in this filing

  • JOHN DLOBRANO (DIRECTOR)
  • ALLISON EVERETT (DIRECTOR)
  • DAVID FINN (VICE PRESIDE)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our program service is that of a free liabrary. All liabrary expenditures are for operating the liabrary for the public's benefit. Reading and audio visual materials, online services, presentations of films, speakers, actors, instrumentalists and storytellers, during the year we answered inquiriesw related to the job searhcing utilizing our print and electronic resourses and directly assisting patrons with applyiong online for a variety of jobs. For the year ended june 30, 2024 the liabrary had 111,373 entrants, a combined circulation of 202,848, patrons reference questions of 29,446. Public internet use of 43,218 and program attendance of 18,310.

What it reported doing in 2023

Our program service is that of a free library. All library expenditures are for operating the library for the public's benefit. Reading and audio visual materials, online services, presentations of films, speakers, actors, instrumentalists and storytellers, during the year we answered inquiries related to job searching utilizing our print and electronic resources and directly assisting patrons with applying online for a variety of jobs. For the year ended june 30, 2024 the library had 111,373 entrants, a combined circulation of 202,848, patrons reference questions of 29,446. Public internet use of 43,218 and program attendance of 18,310.

Operating model

Revenue model
Grant-funded. 92% 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

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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.5%; rating input score 77
  • Program expense ratio: 76.5%; rating input score 76
  • Fundraising efficiency: $143.23 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 15th 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: 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: 1.8%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 4; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 76.5% of revenue deployed · 76.5% of spending went to programs
  • Governance: 18 of 18 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $0 · 18 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Sustainability: Operating margin scored 43/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.