Bergen County Cooperative Library System Inc

Is Bergen County Cooperative Library System Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Bergen County Cooperative Library System Inc directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Bergen County Cooperative Library System Inc

Bergen County Cooperative Library System Inc (EIN: 222696585) is a nonprofit organization based in Fair Lawn, NJ, classified under NTEE code B71B. The organization reported total revenue of $4.2M and total assets of $2.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bergen County Cooperative Library System Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Bergen County Cooperative Library System Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 3%
• programs: 95%
• fundraising: 2%

According to IRS 990 filings, Bergen County Cooperative Library System Inc allocates its expenses as follows: admin: 3%, programs: 95%, fundraising: 2%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is not disclosed in the provided data, preventing a comprehensive assessment of its reasonableness relative to the organization's size and revenue.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Bergen County Cooperative Library System Inc's IRS 990 filings:

• Lack of detailed program expense breakdown in filings makes it challenging to fully evaluate program efficiency and impact.
• Absence of executive compensation data in provided filings is a red flag for assessing leadership cost-effectiveness.

Strengths

The following positive indicators were identified for Bergen County Cooperative Library System Inc:

• Consistently high percentage of expenses allocated to programs (average 95% over the last five years) indicates a strong commitment to its mission.
• Healthy revenue streams consistently exceeding expenses, contributing to asset growth from $1,373,145 in 2019 to $2,960,459 in 2023.

Frequently Asked Questions about Bergen County Cooperative Library System Inc

Filing History

IRS 990 filing history for Bergen County Cooperative Library System Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Bergen County Cooperative Library System Inc's revenue has grown by 29.2%, moving from $3.2M to $4.1M. Total assets increased by 74.8% over the same period, from $1.7M to $3.0M. Total functional expenses rose by 24.3%, from $3.2M to $3.9M. In its most recent filing year (2023), Bergen County Cooperative Library System Inc reported a surplus of $171K, with revenue exceeding expenses. The organization holds $1.5M in liabilities against $3.0M in assets (debt-to-asset ratio: 51.7%), resulting in net assets of $1.4M.

Year-by-Year Financial Summary

• 2023: Revenue of $4.1M, expenses of $3.9M, and assets of $3.0M (revenue +4.7% year-over-year).
• 2022: Revenue of $3.9M, expenses of $3.7M, and assets of $2.0M (revenue +4.9% year-over-year).
• 2021: Revenue of $3.7M, expenses of $3.6M, and assets of $2.0M (revenue -7.2% year-over-year).
• 2020: Revenue of $4.0M, expenses of $3.9M, and assets of $2.2M (revenue +2.7% year-over-year).
• 2019: Revenue of $3.9M, expenses of $3.5M, and assets of $1.4M (revenue +19.2% year-over-year).
• 2018: Revenue of $3.3M, expenses of $3.0M, and assets of $1.0M (revenue -2.7% year-over-year).
• 2017: Revenue of $3.4M, expenses of $3.7M, and assets of $782K (revenue -4.4% year-over-year).
• 2016: Revenue of $3.5M, expenses of $3.5M, and assets of $1.1M (revenue +8.3% year-over-year).
• 2015: Revenue of $3.3M, expenses of $3.3M, and assets of $1.3M (revenue +6.8% year-over-year).
• 2014: Revenue of $3.0M, expenses of $3.0M, and assets of $2.0M (revenue -5.8% year-over-year).
• 2013: Revenue of $3.2M, expenses of $3.0M, and assets of $1.7M (revenue +3.9% year-over-year).
• 2012: Revenue of $3.1M, expenses of $3.4M, and assets of $1.3M (revenue -1.7% year-over-year).
• 2011: Revenue of $3.2M, expenses of $3.2M, and assets of $1.7M.

Data Sources and Methodology

This transparency report for Bergen County Cooperative Library System Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.