FRIENDS OF WOOD MEMORIAL LIBRARY A… - 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

1971

Legal Domicile

Principal Officer

JULIE RUNKLE

Phone

8602891783

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF WOOD MEMORIAL LIBRARY AND MUSEUM INC, founded in 1971, is a small nonprofit that reported $208K in total revenue in fiscal year 2023. Revenue fell 69% from the prior year — a significant decline worth monitoring. Net assets of $621K represent 36 months of operating reserves.

Mission

TO PROVIDE LITERARY, HISTORICAL, EDUCATIONAL AND CULTURAL RESOURCES FOR THE GENERAL PUBLIC.

Program Service Accomplishments

Program 1

Expenses: $153,999 Revenue: $24,679

EDUCATION PROGRAMS FOR CHILDREN AND ADULTS RELATING TO THE HISTORY OF THE COMMUNITY, USUALLY CENTERED ON NATIVE AMERICAN LIFE, SHIPPING TRADE ON THE CONNECTICUT RIVER, AND EARLY AMERICAN ARCHITECTURE.

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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 $187,451

Program Service Revenue $24,679

Investment Income $6,227

Other Revenue $-10,348

TOTAL REVENUE $208,009

Expense Breakdown

Grants Paid $0

Salaries & Benefits $99,554

Fundraising Expenses $309

Program Expenses $153,999

Other Expenses $126,570

TOTAL EXPENSES $226,124

Year-over-Year Comparison

	2023	2022	Change
Revenue	$208,009	$668,553	-0.7%
Expenses	$226,124	$250,019	-0.1%
Net Income	$-18,115	$418,534	-1.0%

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

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

$35,100

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETH GRIGORIAN	VICE-PRESIDENT	15.00	Director	$0	$0	$0
JEFFREY CURREY	DIRECTOR	2.00	Director	$0	$0	$0
HENRY COTE	DIRECTOR	2.00	Director	$0	$0	$0
ANITHA ELANGO	CO-PRESIDENT	15.00	Officer Director	$0	$0	$0
CESAR LOPEZ	DIRECTOR	2.00	Director	$0	$0	$0
JANE ROBINSON	DIRECTOR	2.00	Director	$0	$0	$0
ANN-MARIE GERMANO	CO-PRESIDENT	15.00	Officer Director	$0	$0	$0
JAMIE HOWE	SECRETARY	8.00	Officer Director	$0	$0	$0
DEB COHEN	DIRECTOR	2.00	Director	$0	$0	$0
JULIE RUNKLE	TREASURER	8.00	Officer Director	$0	$0	$0
LILIANA SERRANO-ROJAS	DIRECTOR	2.00	Director	$0	$0	$0
MARK CABOT	DIRECTOR	2.00	Director	$0	$0	$0
SANDRA JESKI	DIRECTOR	2.00	Director	$0	$0	$0
NATALIE O'BRIEN	DIRECTOR	2.00	Director	$0	$0	$0
GLADYS ORTIZ	DIRECTOR	2.00	Director	$0	$0	$0
CAROLYN VENNE	EXECUTIVE DIRECTOR	24.00	Officer	$35,100	$0	$35,100

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	$208,009	$226,124	$627,551	$-18,115
2023	$668,553	$250,019	$628,283	$418,534
2022	$191,910	$194,941	$196,481	$-3,031
2021	$170,441	$162,118	$224,993	$8,323
2020	$184,457	$162,975	$203,233	$21,482
2019	$152,423	$180,983	$162,214	$-28,560

FRIENDS OF WOOD MEMORIAL LIBRARY AND MUSEUM INC