SANFORD LIBRARY ASSOCIATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1923

Legal Domicile

Principal Officer

RICHARD SCHRADER

Phone

2073244714

Tax Period

2023-07-01 to 2024-06-30

SANFORD LIBRARY ASSOCIATION INC, founded in 1923, is a small nonprofit that reported $723K in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $697K left a modest 4% surplus.

Mission

SANFORD LIBRARY ASSOCIATION IS A PUBLIC LIBRARY WHICH PROVIDES BOOKS AND PROGRAMS TO THE RESIDENTS OF THE TOWN OF SANFORD AND SURROUNDING COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $635,245 Revenue: $23,637

LIBRARY BOOKS AND PROGRAMS TO SERVE THE TOWN OF SANFORD AND THE SURROUNDING COMMUNITIES.

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Trantor Score

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

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $535,795

Program Service Revenue $23,637

Investment Income $163,730

Other Revenue $0

TOTAL REVENUE $723,162

Expense Breakdown

Grants Paid $0

Salaries & Benefits $390,094

Fundraising Expenses $0

Program Expenses $635,245

Other Expenses $306,550

TOTAL EXPENSES $696,644

Year-over-Year Comparison

	2023	2022	Change
Revenue	$723,162	$1,056,938	-0.3%
Expenses	$696,644	$606,850	+0.1%
Net Income	$26,518	$450,088	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALBERT POLLARD	EMERITUS	001.00	Director	$0	$0	$0
SUZANNE ZIMMER	DIRECTOR	001.00	Director	$0	$0	$0
TONY BAUER	TREASURER	001.00	Officer Director	$0	$0	$0
SAVINA HUTCHINSON	PRESIDENT	001.00	Officer Director	$0	$0	$0
JULIE NORSWORTHY	DIRECTOR	001.00	Director	$0	$0	$0
CHRISTOPHER WINCHESTER	SECRETARY	001.00	Officer Director	$0	$0	$0
HENRY SMITH	DIRECTOR	001.00	Director	$0	$0	$0
RICHARD SCHRADER	DIRECTOR	040.00	Director Key Emp Highest	$0	$0	$0
ERIC LOGAN	DIRECTOR	001.00	Director	$0	$0	$0
NICOLE BOWLEY	ASST DIRECTOR	001.00	Director	$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	No data	No data	No data	No data
2024	$723,162	$696,644	$2,874,213	$26,518
2023	$1,056,938	$606,850	$2,816,848	$450,088
2022	$997,039	$593,066	$2,367,641	$403,973
2021	$605,583	$549,265	$1,958,733	$56,318
2020	$528,739	$550,193	$1,963,316	$-21,454
2019	$533,618	$533,522	$1,921,645	$96