Waverly Free Library

Nonprofit profile at a glance

EIN
150592911
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Waverly, NY, USA
Phone
6075659341
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$150,719
Expenses
$182,585
Assets
$503,099
Liabilities
$1,851

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

Leadership & pay

7 people listed

Executive titles in this filing

  • DEBORAH SMITH KENNEDY (PRESIDENT)

Highest reported compensation

  • REBECCA GRACE (DIRECTOR): $44,495 total reported compensation

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

Overview

Mission

To provide patrons of all ages with a friendly atmosphere for access to various categories of multimedia materials and library services.

What it reported doing in 2024

General library services

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 70.2%; rating input score 70
  • Fundraising efficiency: $28.24 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -21.1%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 2.76; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 24.4%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -2.3% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -8.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 70.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $128K in reported program spending
  • Leadership: top reported pay $44K · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.