Wayne Library Association

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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

1960

Legal Domicile

Principal Officer

Don Welsh

Phone

2076853612

Tax Period

2023-10-01 to 2024-09-30

Wayne Library Association, founded in 1960, is a small nonprofit that reported $199K in total revenue in fiscal year 2023. Revenue surged 39% from the prior year, signaling strong growth momentum. The organization ran a surplus of $51K, a strong 26% operating margin.

Mission

To engage, inform, and enrich library users by providing a welcoming space for books, collections, programs and activities

Program Service Accomplishments

Program 1

Expenses: $9,884 Revenue: $5,504

Maintain adjacent property which provides additional space for fundraising activities as well as space for community use.

Program 2

Expenses: $1,005 Revenue: $4,212

The Friends of the Libary are made up of members of the library. This group fundraises which helps to support the libarys mission by contributing to the purchase of books, magazines, DVDs, audio...

The Friends of the Libary are made up of members of the library. This group fundraises which helps to support the libarys mission by contributing to the purchase of books, magazines, DVDs, audio books kids programs, summer intern and the library download program.

Program 3

Expenses: $2,151 Revenue: $100

Provide cultural activities for both adults and children including speakers, demonstrations, and concerts.

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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 $82,087

Program Service Revenue $509

Investment Income $110,322

Other Revenue $6,318

TOTAL REVENUE $199,236

Expense Breakdown

Grants Paid $2,000

Salaries & Benefits $31,733

Fundraising Expenses $19,360

Program Expenses $32,094

Other Expenses $114,570

TOTAL EXPENSES $148,303

Year-over-Year Comparison

	2023	2022	Change
Revenue	$199,236	$143,596	+0.4%
Expenses	$148,303	$124,240	+0.2%
Net Income	$50,933	$19,356	+1.6%

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

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
Judy Danielson	Finance Chair	1.50	Director	$0	$0	$0
Frank Smith	Trustee	1.50	Director	$0	$0	$0
Don Welsh	Board President	3.00	Director	$0	$0	$0
Kevin Brooks	Treasurer	1.00	Director	$0	$0	$0
Mary Jean Cowing	Rec. Secretary	10.00	Director	$0	$0	$0
Lee Behrendt	Vice President	5.00	Director	$0	$0	$0
Grace Drown	Trustee	1.00	Director	$0	$0	$0
Andy Gorrill	Trustee	1.00	Director	$0	$0	$0
Jeannie Burnett	Correspondence Sec	1.00	Director	$0	$0	$0
Angie Harris	Trustee	1.00	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
2024	$199,236	$148,303	$1,833,261	$50,933
2023	$143,596	$124,240	$1,603,778	$19,356
2022	$125,597	$132,850	$1,502,539	$-7,253
2021	$153,914	$104,249	$1,727,290	$49,665
2020	$125,859	$121,952	$1,562,096	$3,907
2019	$158,967	$118,742	$1,481,993	$40,225
2018	$106,994	$96,903	$1,434,741	$10,091