Westfield Public Library Leasing Corpora

Nonprofit profile at a glance

EIN
351911653
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Westfield, IN, USA
Phone
3178969391
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$201,420
Expenses
$21,256
Assets
$2,543,812
Liabilities
$151,102

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • CARL M STEELE (President)

People named in this filing

  • CARL M STEELE (President)
  • BRUCE CARLSTADT (secretery/treas)
  • ALYN BERNELL (Director)

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 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Finance Library Building for the public good.

What it reported doing in 2014

Finance & maintain library bldg for public good

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 100
  • Accountability: 64
  • Sustainability: 89
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 10.6%; rating input score 11
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 63rd 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: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 89.4%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 119.68; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: -0.1% per year; rating input score 0; 43rd percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: -2.9% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: 10.6% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $21K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 11/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.