HERITAGE REGIONAL LIBRARY FDN

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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

2003

Legal Domicile

Principal Officer

JAMES A TYLER JR

Phone

8048292012

Tax Period

2021-01-01 to 2021-12-31

HERITAGE REGIONAL LIBRARY FDN, founded in 2003, is a micro nonprofit in the Education sector that reported $6K in total revenue in fiscal year 2021. Revenue fell 71% from the prior year — a significant decline worth monitoring. Expenses of $24K exceeded revenue, resulting in a 310% operating deficit.

Mission

TO BUILD, EQUIP, AND MAINTAIN PUBLIC LIBRARIES FOR NEW KENT COUNTY, VIRGINIA AND CHARLES CITY COUNTY, VIRGINIA.

Program Service Accomplishments

Program 1

Expenses: $23,302

THE FOUNDATION HAS CAMPAIGNED TO HAVE LIBRARIES BUILT IN CHARLES CITY COUNTY, VIRGINIA AND NEW KENT COUNTY, VIRGINIA SINCE ITS INCEPTION. A LIBRARY WAS APPROVED TO BE BUILT BY REFERENDUM IN CHARLES CITY COUNTY DURING 2016. DURING 2017 THE NEW KENT LIBRARY WAS COMPLETED AND OPENED TO THE PUBLIC. THE FOUNDATION ASSISTED WITH THE PURCHASE OF FURNITURE AND EQUIPMENT AND WITH MARKETING. THE CHARLES CITY COUNTY LIBRARY WAS COMPLETED AND OPENED TO THE PUBLIC IN 2019. THE FOUNDATION EXPECTS TO CONTINUE TO ASSIST BOTH LIBRARIES THROUGH MARKETING, MAINTENANCE, AND IMPROVEMENTS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $5,945

Program Service Revenue $0

Investment Income $18

Other Revenue $0

TOTAL REVENUE $5,963

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $23,302

Other Expenses $24,427

TOTAL EXPENSES $24,427

Year-over-Year Comparison

	2021	2020	Change
Revenue	$5,963	$20,838	-0.7%
Expenses	$24,427	$15,150	+0.6%
Net Income	$-18,464	$5,688	-4.2%

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

N/A

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
STEVE MILES	PRESIDENT	N/A	Officer Director	$0	$0	$0
JULIA BOYD	SECRETARY	N/A	Officer Director	$0	$0	$0
JAMES A TYLER JR	TREASURER	N/A	Officer Director	$0	$0	$0
ROBERT NELMS	DIRECTOR	N/A	Director	$0	$0	$0
WILLIAM O'KEEFE	VICE PRESIDE	N/A	Officer 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
2021	$5,963	$24,427	$123,660	$-18,464
2020	$20,838	$15,150	$142,124	$5,688
2019	$137,594	$1,004,321	$136,436	$-866,727
2018	$355,948	$24,086	$1,003,163	$331,862