Gafney Library 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

1990

Legal Domicile

Principal Officer

Dick DesRoches

Phone

6035223401

Tax Period

2024-01-01 to 2024-12-31

Gafney Library Inc, founded in 1990, is a small nonprofit that reported $430K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $110K, a strong 26% operating margin.

Mission

Gafney Library provides library services to the public in the form of books, audio, video, internet and childrens services.

Program Service Accomplishments

Program 1

Expenses: $207,227 Revenue: $289,530

Gafney Library provides library services to the public in the form of books, audio, video, internet and childrens services.

Program 2

Expenses: $6,425 Revenue: $0

Promotes literacy through providing learning opportunities to members of the general public

Program 3

Expenses: $530 Revenue: $3,000

Provides a testing center for members of the general public to enable them to obtain their GED Certificate

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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 (2024)

Revenue Breakdown

Contributions & Grants $424,187

Program Service Revenue $2,894

Investment Income $3,165

Other Revenue $0

TOTAL REVENUE $430,246

Expense Breakdown

Grants Paid $0

Salaries & Benefits $155,228

Fundraising Expenses $0

Program Expenses $214,182

Other Expenses $165,016

TOTAL EXPENSES $320,244

Year-over-Year Comparison

	2024	2023	Change
Revenue	$430,246	$338,609	+0.3%
Expenses	$320,244	$252,630	+0.3%
Net Income	$110,002	$85,979	+0.3%

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
Dick DesRoches	President	5.00	Officer Director	$0	$0	$0
Jennifer Rich	Vice President	1.00	Officer Director	$0	$0	$0
Tom Cassidy	Treasurer	1.00	Officer Director	$0	$0	$0
Cathie Chasse	Secretary	5.00	Officer Director	$0	$0	$0
Julie Kessler	Trustee, Town of Wakefield	1.00	Officer Director	$0	$0	$0
Jan Ledbetter	Trustee, Town of Brookfield	1.00	Director	$0	$0	$0
Tom Lavender	Trustee	1.00	Director	$0	$0	$0
Heather Wilcauskas	Trustee	1.00	Director	$0	$0	$0
Meg Ingalls	Trustee	1.00	Director	$0	$0	$0
Titia Bozuwa	Trustee Emeritus	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	$430,246	$320,244	$2,026,879	$110,002
2023	$338,609	$252,630	$2,013,377	$85,979
2022	$414,593	$222,536	$2,027,400	$192,057
2021	$856,707	$203,073	$1,471,243	$653,634
2020	$525,371	$246,614	$817,609	$278,757
2019	$290,676	$239,637	$494,245	$51,039
2018	$209,158	$226,751	$292,891	$-17,593