HOPE 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

1966

Legal Domicile

Principal Officer

CAROL SWANSON

Tax Period

2022-07-01 to 2023-06-30

HOPE LIBRARY ASSOCIATION, founded in 1966, is a small nonprofit that reported $357K in total revenue in fiscal year 2022. Revenue surged 319% from the prior year, signaling strong growth momentum. Net assets of $767K represent 26 months of operating reserves.

Mission

THE LIBRARYS COLLECTION OFFERS A VARIETY OF FORMATS, INCLUDING PRINT NAD ELECTRONIC VERSIONS, AND EMPHASIZES RECREATIONAL AND LEISURE MATERIALS. HOPE LIBRARY IS COMMITTED TO MEETING THE NEEDS OF, AND PROVIDING EQUAL ACCESS TO ALL USERS, AND ENCOURAGES THE FREE FLOW OF IDEAS IN ORDER TO EDUCATE, ENTERTAIN, ENRICH AND INFORM OUR PATRONS. SPECIAL EMPHASIS IS PLACED ON STIMULATING CHILDRENS INTEREST AND APPRECIATION FOR READING AND LEARNING. HOPE LIBRARY IS COMMITTED TO EXCELLENCE IN SERVICE AND WILL MEET THE NEEDS OF THE PUBLIC. THE LIBRARY UPHOLDS THE PRINCIPALS OF INTELLECTUAL FREEDOM, THE CITIZENS RIGHT TO INFORMATION AND THE RIGHT TO CONFIDENTIALITY OF USERS RECORDS AND OPPOSES CENSORSHIP.

Program Service Accomplishments

Program 1

Expenses: $221,831

THE LIBRARY OFFERS A VARIETY OF PROGRAMS AND MATERIALS TO EDUCATE, ENTERTAIN, ENRICH AND INFORM OUR PATRONS. SPECIAL EMPHASIS IS PLACED ON STIMULATING CHILDRENS INTEREST AND APPRECIATION FOR READING AND LEARNING. HOPE LIBRARY OFFERS SEVERAL DAILY PROGRAMS, ACTIVITIES AND LIBRARY SUPPLIES FOR ALL AGES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $353,853

Program Service Revenue $0

Investment Income $2,421

Other Revenue $613

TOTAL REVENUE $356,887

Expense Breakdown

Grants Paid $0

Salaries & Benefits $223,530

Fundraising Expenses $9,514

Program Expenses $221,831

Other Expenses $127,232

TOTAL EXPENSES $350,762

Year-over-Year Comparison

	2022	2021	Change
Revenue	$356,887	$85,151	+3.2%
Expenses	$350,762	$83,120	+3.2%
Net Income	$6,125	$2,031	+2.0%

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

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

$51,965

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CORA MORRIGAN	DIRECTOR	035.00	Officer	$51,965	$0	$51,965
BRENDA GARDNER	PRESIDENT	000.50	Director	$0	$0	$0
CAROL SWANSON	TREASURER	000.50	Director	$0	$0	$0
CANDACE COLLINS	SECRETARY	000.50	Director	$0	$0	$0
MARY MORSE	VICE PRESIDENT	000.50	Director	$0	$0	$0
DONNA FARIA	TRUSTEE	000.50	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$356,887	$350,762	$766,652	$6,125
2022	$85,151	$83,120	$760,527	$2,031
2022	$386,453	$328,956	$758,496	$57,497
2021	$331,671	$319,913	$700,999	$11,758
2020	$310,741	$357,503	$682,133	$-46,762