Beloit Public Library Foundation Inc

Charity Navigator Rating: 33%

The Beloit Public Library Foundation Inc. has received a low rating of 33%, resulting in a Zero-Star out of Four Stars designation. This score reflects significant concerns in the areas of accountability and finance. While the organization demonstrates strong governance with 100% of its board members being independent, it faces critical shortcomings in transparency and policy documentation which contribute to its low rating.

Among the strengths noted, the foundation has no material diversion of assets, indicating responsible management of resources. However, the organization lacks essential policies such as a conflict of interest policy, whistleblower policy, and documentation retention guidelines. These deficiencies suggest potential risks in governance practices and transparency.

Financially, the foundation’s program expense ratio stands at 42.03%, which is below the recommended threshold, raising concerns about its efficiency in utilizing funds for its intended mission. Additionally, the liabilities to assets ratio is alarmingly low at 0.64%, indicating potential financial stability issues. Overall, while there are some positive aspects, the foundation must address its governance and financial management practices to improve its standing in the nonprofit sector.

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

Beloit Public Library Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Beloit Public Library Foundation Inc 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: $0

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