FRIENDS OF THE IPSWICH PUBLIC LIBR… - Form 990 Financial Data

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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

1992

Legal Domicile

Principal Officer

MARY STACY

Phone

9783565190

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF THE IPSWICH PUBLIC LIBRARY INC, founded in 1992, is a micro nonprofit in the Education sector that reported $38K in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $46K exceeded revenue, resulting in a 23% operating deficit.

Mission

TO PROVIDE SUPPORT TO THE IPSWICH PUBLIC LIBRARY IN IPSWICH, MASSACHUSETTS.

Program Service Accomplishments

Program 1

Expenses: $34,328

SUPPORT OF THE IPSWICH PUBLIC LIBRARY BY PROVIDING TECHNOLOGY, CD'S, DVD'S AND CAPITAL WHICH ARE NOT FUNDED BY THE LIBRARY BUDGETS. ALL INDIVIDUALS WHO USE THE LIBRARY ARE BENEFITED.

Program 2

COLLEGE SCHOLARSHIPS FOR THREE IPSWICH HIGH SCHOOL GRADUATES.

Program 3

Expenses: $6,400

PROVIDING LOCAL MUSEUM PASSES FOR LIBRARY PATRONS.

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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 $23,841

Program Service Revenue $0

Investment Income $13,872

Other Revenue $0

TOTAL REVENUE $37,713

Expense Breakdown

Grants Paid $40,728

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $40,728

Other Expenses $5,655

TOTAL EXPENSES $46,383

Year-over-Year Comparison

	2023	2022	Change
Revenue	$37,713	$53,173	-0.3%
Expenses	$46,383	$48,214	0.0%
Net Income	$-8,670	$4,959	-2.7%

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
MARY STACY	PRESIDENT	1.00	Officer Director	$0	$0	$0
TERESA GALLO-TOTH	TREASURER	1.00	Officer Director	$0	$0	$0
SUZANNE BENFIELD	SECRETARY	1.00	Officer Director	$0	$0	$0
JENNIFER NORTON	DIRECTOR/MEMBER	0.50	Director	$0	$0	$0
ASHLEY KESACK	DIRECTOR/MEMBER	0.50	Director	$0	$0	$0
DARCY SCANLON MOULTON	DIRECTOR/MEMBER	0.50	Director	$0	$0	$0
MARY GRAVES	DIRECTOR/MEMBER	0.50	Director	$0	$0	$0
DOROTHY JOHNSON	DIRECTOR/MEMBER	0.50	Director	$0	$0	$0
PAM O 'BRIEN	DIRECTOR/MEMBER	0.50	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	No data	No data	No data	No data
2023	$37,713	$46,383	$553,398	$-8,670
2022	$53,173	$48,214	$562,068	$4,959
2021	$49,955	$38,820	$557,109	$11,135
2020	$42,023	$25,506	$545,974	$16,517

FRIENDS OF THE IPSWICH PUBLIC LIBRARY INC