Webster Memorial Library

Nonprofit profile at a glance

EIN
386052977
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Decatur, MI, USA
Phone
2694234771
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$275,359
Expenses
$222,703
Assets
$4,083,764
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Terry Newell (President)

Highest reported compensation

  • Terry Newell (President): $6,000 total reported compensation
  • John Grosvenor (Secretary): $6,000 total reported compensation
  • James Creagan (Treasurer): $6,000 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 equitable access to a world of resources, reading, and lifelong learning.

What it reported doing in 2024

Operation of Webster Memorial Library

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 82% of its reported program spending out as grants.

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 93
  • Accountability: 72
  • Sustainability: 75
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.6%; rating input score 90
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 18.34; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 8.1%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: -5.1% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $200K in reported program spending
  • Leadership: top reported pay $6K · 3 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Accountability: Governance controls: 6 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.