CORNWALL LIBRARY ASSOCIATION INC (EIN 060669590) - 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

2001

Legal Domicile

Phone

8606726874

Tax Period

2024-07-01 to 2025-06-30

CORNWALL LIBRARY ASSOCIATION INC, founded in 2001, is a small nonprofit that reported $287K in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring. Net assets of $2.7M represent 115 months of operating reserves.

Mission

TO PROVIDE THE COMMUNITY WITH A FREE PUBLIC LIBRARY

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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 $137,362

Program Service Revenue $12,279

Investment Income $72,007

Other Revenue $65,360

TOTAL REVENUE $287,008

Expense Breakdown

Grants Paid $0

Salaries & Benefits $157,281

Fundraising Expenses $14,870

Program Expenses $248,711

Other Expenses $157,839

TOTAL EXPENSES $315,120

Year-over-Year Comparison

	2024	2023	Change
Revenue	$287,008	$544,179	-0.5%
Expenses	$315,120	$278,543	+0.1%
Net Income	$-28,112	$265,636	-1.1%

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

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

$60,257

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARGARET HASKE	LIBRARY DIRECTOR	35.00	Key Emp	$60,257	$0	$60,257
GILLIAN BLAKE	TRUSTEE	1.00	Director	$0	$0	$0
ROXANA ROBINSON JR	TRUSTEE	1.00	Director	$0	$0	$0
JAIMEE LUNDERBORG	TRUSTEE	1.00	Director	$0	$0	$0
BLAKE HUBBARD	TRUSTEE	1.00	Director	$0	$0	$0
ANNE COFFIN	TRUSTEE	1.00	Director	$0	$0	$0
ROBINSON LACY	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT BECKER	TRUSTEE	1.00	Director	$0	$0	$0
JANE GARMEY	TRUSTEE	1.00	Director	$0	$0	$0
DOC SIMONT	TRUSTEE	1.00	Director	$0	$0	$0
OPAL CAVALIER	TRUSTEE	1.00	Director	$0	$0	$0
ANNE CHRISTENSEN	TRUSTEE	1.00	Director	$0	$0	$0
CARL DALVIA	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD GREENE	TRUSTEE	1.00	Director	$0	$0	$0
REBECCA HURLBURT	PRESIDENT	2.00	Officer Director	$0	$0	$0
ALISON SCHWEIZER	VP TREASURER	2.00	Officer Director	$0	$0	$0
MARY KAY ELWELL	SECRETARY	1.00	Officer 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	$287,008	$315,120	$2,743,953	$-28,112
2024	$544,179	$278,543	$2,656,394	$265,636
2023	$338,668	$260,374	$2,254,555	$78,294
2022	$273,180	$223,333	$2,155,382	$49,847
2021	$247,844	$212,356	$2,308,818	$35,488
2020	$279,647	$205,763	$2,050,281	$73,884
2019	$178,117	$190,600	$1,945,240	$-12,483
2018	$149,337	$182,970	$1,960,150	$-33,633

CORNWALL LIBRARY ASSOCIATION INC