WOBURN PUBLIC LIBRARY

EIN: 046047185 501(c)(3) Education

WOBURN, MA

Total Revenue
$2,055,721
Total Expenses
$2,153,837
Total Assets
$12,918,365
Net Assets
$12,918,365
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1890
Legal Domicile
MA
Principal Officer
HERMAYNE GORDON
Phone
7819330148
Tax Period
2023-07-01 to 2024-06-30

WOBURN PUBLIC LIBRARY, founded in 1890, is a community nonprofit in the Education sector that reported $2.1M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Net assets of $12.9M represent 75 months of operating reserves.

Mission

OPERATION OF THE WOBURN, MA MUNICIPAL PUBLIC LIBRARY SERVING THE GREATER PUBLIC OF THE CITY OF WOBURN, MA AND 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,866,825
Program Service Revenue $47,686
Investment Income $141,210
Other Revenue $0
TOTAL REVENUE $2,055,721

Expense Breakdown

Grants Paid $11,507
Salaries & Benefits $1,346,519
Fundraising Expenses $0
Program Expenses $1,988,713
Other Expenses $795,811
TOTAL EXPENSES $2,153,837

Year-over-Year Comparison

2023 2022 Change
Revenue $2,055,721 $2,445,764 -0.2%
Expenses $2,153,837 $2,127,590 +0.0%
Net Income $-98,116 $318,174 -1.3%
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

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Governance

Voting Members
7
Independent Members
7
Employees
20
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
1
$116,289
Total Directors
5
$0
Key Employees
1
$116,289
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD J MAHONEY DIRECTOR/PRESIDENT 002.00
Director
$0 $0 $0
EMILY LIPSETT DIRECTOR N/A
$0 $0 $0
TRACY JOLLY DIRECTOR 002.00
Director
$0 $0 $0
LARRY RIDEOUT DIRECTOR 002.00
Director
$0 $0 $0
MEG MEANEY DIRECTOR 002.00
Director
$0 $0 $0
SETH LIBERT DIRECTOR 002.00
Director
$0 $0 $0
MEG DUNN DIRECTOR 002.00
$0 $0 $0
CAROLYN PEARY DIRECTOR 002.00
$0 $0 $0
KATHLEEN LUCERO DIRECTOR 002.00
$0 $0 $0
HERMAYNE GORDON DIRECTOR 040.00
Officer Key Emp Highest
$116,289 $0 $116,289
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 $2,055,721 $2,153,837 $12,918,365 $-98,116
2023 $2,445,764 $2,127,590 $12,681,176 $318,174
2022 $1,942,223 $1,528,530 $12,733,236 $413,693
2021 $1,952,768 $1,736,135 $13,086,304 $216,633
2020 $1,887,470 $2,150,470 $12,303,652 $-263,000
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