THE WELLESLEY FREE LIBRARY FOUNDATION INC

EIN: 263194155 501(c)(3) Education

WELLESLEY, MA

Total Revenue
$1,056,610
Total Expenses
$479,071
Total Assets
$7,766,428
Net Assets
$7,456,045
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
MA
Principal Officer
KEITH HIGGINS
Phone
7812351610
Tax Period
2024-07-01 to 2025-06-30

THE WELLESLEY FREE LIBRARY FOUNDATION INC, founded in 2008, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 49% from the prior year, signaling strong growth momentum. The organization ran a surplus of $578K, a strong 55% operating margin.

Mission

TO ENRICH, NOT REPLACE, TRADITIONAL TAX-BASED SUPPORT FOR THE LIBRARY THROUGH GIFTS, GRANTS, AND BEQUESTS FROM INDIVIDUALS AND ORGANIZATIONS, WHILE REINFORCING THE NEED FOR CONTINUED AND INCREASED PUBLIC SUPPORT FOR THE LIBRARY.

Program Service Accomplishments

Program 1
Expenses: $66,000

TO ENRICH, NOT REPLACE, TRADITIONAL TAX-BASED SUPPORT FOR THE LIBRARY THROUGH GIFTS, GRANTS, AND BEQUESTS FROM INDIVIDUALS AND ORGANIZATIONS, WHILE REINFORCING THE NEED FOR CONTINUED AND INCREASED...

Read more

TO ENRICH, NOT REPLACE, TRADITIONAL TAX-BASED SUPPORT FOR THE LIBRARY THROUGH GIFTS, GRANTS, AND BEQUESTS FROM INDIVIDUALS AND ORGANIZATIONS, WHILE REINFORCING THE NEED FOR CONTINUED AND INCREASED PUBLIC SUPPORT FOR THE LIBRARY.

Program 2
Expenses: $172,706

PROVIDES FUNDS WHICH ALLOW THE LIBRARY TO EXPERIMENT AND BUILD COLLECTIONS THAT WOULD OTHERWISE NOT BE POSSIBLE, PURCHASE EXCITING NEW DATABASES, AND SHOWCASE EVOLVING MATERIALS FORMAT.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $402,072
Program Service Revenue $0
Investment Income $604,878
Other Revenue $49,660
TOTAL REVENUE $1,056,610

Expense Breakdown

Grants Paid $238,706
Salaries & Benefits $17,560
Fundraising Expenses $76,271
Program Expenses $238,706
Other Expenses $222,805
TOTAL EXPENSES $479,071

Year-over-Year Comparison

2024 2023 Change
Revenue $1,056,610 $707,548 +0.5%
Expenses $479,071 $673,896 -0.3%
Net Income $577,539 $33,652 +16.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
14
Independent Members
14
Employees
1
Volunteers
27

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEITH HIGGINS PRESIDENT 8.00
Officer Director
$0 $0 $0
MARK GROVER TREASURER 8.00
Officer Director
$0 $0 $0
AMIEE MUNRO CLERK 8.00
Officer Director
$0 $0 $0
ALEXA PLENGE CHAIR - FINANCE COMM 8.00
Director
$0 $0 $0
LAUREL LYLE CHAIR - DEVELOPMENT 8.00
Director
$0 $0 $0
CATHERINE BUEKER CHAIR - GOVERNANCE 2.00
Director
$0 $0 $0
CAROL CARLSON DIRECTOR 2.00
Director
$0 $0 $0
MOLLY MANNING DIRECTOR 2.00
Director
$0 $0 $0
CHRISSIE LAWRENCE DIRECTOR 2.00
Director
$0 $0 $0
NORA PHILLIPS DIRECTOR 2.00
Director
$0 $0 $0
TERENCE CONDREN DIRECTOR 2.00
Director
$0 $0 $0
STEPAHNIE COUGHLAN DIRECTOR 2.00
Director
$0 $0 $0
NORM BOUCHER DIRECTOR 2.00
Director
$0 $0 $0
LUISA HUNNEWELL DIRECTOR 2.00
Director
$0 $0 $0
TRIPP SHEEHAN DIRECTOR 2.00
Director
$0 $0 $0
NORM BOUCHER DIRECTOR 2.00
Director
$0 $0 $0
KARA REINHARDT BLOCK ASSISTANT TREASURER 2.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $1,056,610 $479,071 $7,766,428 $577,539
2024 $707,548 $673,896 $7,071,783 $33,652
2023 $523,014 $518,971 $6,745,076 $4,043
2022 $1,467,125 $631,762 $6,682,036 $835,363
2021 $1,230,094 $1,119,906 $6,911,551 $110,188
2020 $735,877 $448,909 $5,458,539 $286,968
2019 $312,151 $445,407 $5,462,521 $-133,256
Explore More Nonprofits
→Top 100 Nonprofits in Massachusetts →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare THE WELLESLEY FREE LIBRARY FOUNDATION INC with other nonprofits in Massachusetts and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.