Thomas Memorial Library Foundation

Nonprofit profile at a glance

EIN
270106217
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-EZ 2016, Form 990-N 2013
Location
Cape Eliz, ME, USA
Phone
2072391950
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$76,591
Expenses
$37,674
Assets
$1,076,174
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Gregg Frame (Vice President)
  • Tyler Patterson (President)

People named in this filing

  • Kristina Justh (Board Member)
  • Geoffrey Alexander (Board Member)
  • Gil Brennan (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 provide funding for the Cape Elizabeth ME town library.

What it reported doing in 2024

Fund programs at Thomas Memorial Library

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 93
  • Accountability: 6
  • Sustainability: 82
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56%; rating input score 56
  • Program expense ratio: 73%; rating input score 73
  • Fundraising efficiency: $13.06 raised per $1 spent on fundraising; rating input score 59; 59th 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th 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: 50.8%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 28.57; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 18.6% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: -14.5% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 56% of revenue deployed · 73% of spending went to programs
  • Governance: 0 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $28K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 6 filing years from 2014 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 — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 59/100.