Hoyt Library

Charity Navigator Rating: 92%, Four-Star out of Four Star Rating

Hoyt Library has earned a commendable score of 92%, reflecting a strong emphasis on accountability and finance. This rating is particularly significant as it indicates that the organization is well-managed and transparent in its financial dealings. The library’s independent board boasts 100% independent members, which contributes to its effective governance structure.

The organization's strengths lie in its financial oversight and transparency, with an excellent program expense ratio of 82.56%, suggesting that a substantial portion of its funding is directed toward its mission. Additionally, it scores full marks in various accountability metrics, such as having no material diversion of assets and maintaining comprehensive financial statements. However, a limitation noted is the absence of a whistleblower policy, which may raise concerns about internal reporting mechanisms.

Overall, Hoyt Library demonstrates a solid commitment to financial responsibility and governance, making it a reliable choice for donors and stakeholders looking for transparency and integrity in nonprofit operations. The absence of certain policies, while noted, does not significantly detract from its overall strong performance in accountability and finance.

This AI summary has been generated from information found on Charity Navigator.

Hoyt Library is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hoyt Library submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $263,698

For more financial information, click here

Official website here: www.hoytlibrary.org