Friends of the Narragansett Library (EIN 050486091) - Form 990 Financial Analysis & Trantor Score

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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

2008

Legal Domicile

Tax Period

2023-11-01 to 2024-10-31

Friends of the Narragansett Library, founded in 2008, is a small nonprofit in the Human Services sector that reported $310K in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $151K, a strong 49% operating margin.

Mission

To support library efforts, maintaining an association of persons interested in the library,promoting increased knowledge and understandingog library functions, resources, and services, stimulating increased financial support, and sponsoring programs to add to the local culture.

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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 $309,914

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $309,914

Expense Breakdown

Grants Paid $144,364

Salaries & Benefits $0

Fundraising Expenses $8,211

Program Expenses $149,601

Other Expenses $14,052

TOTAL EXPENSES $158,416

Year-over-Year Comparison

	2023	2022	Change
Revenue	$309,914	$500,127	-0.4%
Expenses	$158,416	$470,622	-0.7%
Net Income	$151,498	$29,505	+4.1%

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

100

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
Linda Hines	Corresponding Secretary	3.00	Officer	$0	$0	$0
Tracy Kubricky	Database Manager	1.00	Officer	$0	$0	$0
Maureen Barney	Co Recording Secretary	1.00	Officer	$0	$0	$0
Madge Mccarthy	Co Recording Secretary	1.00	Officer	$0	$0	$0
Jane Williams	Vice President	3.00	Officer	$0	$0	$0
Gina O Connell	President	8.00	Officer	$0	$0	$0
Mary Nadeau	Co Treasurer	10.00	Officer	$0	$0	$0
Martha Shults	Co Treasurer	3.00	Officer	$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	$309,914	$158,416	$220,372	$151,498
2023	$500,127	$470,622	$68,874	$29,505
2022	$684,991	$1,295,225	$39,369	$-610,234
2021	$369,537	$9,178	$649,603	$360,359
2020	$235,789	$11,068	$289,244	$224,721

Friends of the Narragansett Library