THE PERROT MEMORIAL LIBRARY ASSOCI… - 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

1905

Legal Domicile

Principal Officer

KATHY MCCORMACK

Phone

2036371066

Tax Period

2023-07-01 to 2024-06-30

THE PERROT MEMORIAL LIBRARY ASSOCIA OF OLD GREENWICHINC, founded in 1905, is a community nonprofit in the Education sector that reported $1.9M in total revenue in fiscal year 2023. Net assets of $7.6M represent 47 months of operating reserves.

Mission

OUR PROGRAM SERVICE IS THAT OF A FREE LIABRARY. ALL LIABRARY EXPENDITURES ARE FOR OPERATING THE LIABRARY FOR THE PUBLIC'S BENEFIT. READING AND AUDIO VISUAL MATERIALS, ONLINE SERVICES, PRESENTATIONS OF FILMS, SPEAKERS, ACTORS, INSTRUMENTALISTS AND STORYTELLERS, DURING THE YEAR WE ANSWERED INQUIRIESW RELATED TO THE JOB SEARHCING UTILIZING OUR PRINT AND ELECTRONIC RESOURSES AND DIRECTLY ASSISTING PATRONS WITH APPLYIONG ONLINE FOR A VARIETY OF JOBS. FOR THE YEAR ENDED JUNE 30, 2024 THE LIABRARY HAD 111,373 ENTRANTS, A COMBINED CIRCULATION OF 202,848, PATRONS REFERENCE QUESTIONS OF 29,446. PUBLIC INTERNET USE OF 43,218 AND PROGRAM ATTENDANCE OF 18,310.

Program Service Accomplishments

Program 1

Expenses: $1,459,023 Revenue: $5,840

OUR PROGRAM SERVICE IS THAT OF A FREE LIBRARY. ALL LIBRARY EXPENDITURES ARE FOR OPERATING THE LIBRARY FOR THE PUBLIC'S BENEFIT. READING AND AUDIO VISUAL MATERIALS, ONLINE SERVICES, PRESENTATIONS OF FILMS, SPEAKERS, ACTORS, INSTRUMENTALISTS AND STORYTELLERS, DURING THE YEAR WE ANSWERED INQUIRIES RELATED TO JOB SEARCHING UTILIZING OUR PRINT AND ELECTRONIC RESOURCES AND DIRECTLY ASSISTING PATRONS WITH APPLYING ONLINE FOR A VARIETY OF JOBS. FOR THE YEAR ENDED JUNE 30, 2024 THE LIBRARY HAD 111,373 ENTRANTS, A COMBINED CIRCULATION OF 202,848, PATRONS REFERENCE QUESTIONS OF 29,446. PUBLIC INTERNET USE OF 43,218 AND PROGRAM ATTENDANCE OF 18,310.

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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 $1,847,058

Program Service Revenue $0

Investment Income $89,902

Other Revenue $5,840

TOTAL REVENUE $1,942,800

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,289,656

Fundraising Expenses $12,896

Program Expenses $1,459,023

Other Expenses $617,988

TOTAL EXPENSES $1,907,644

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,942,800	$1,906,621	+0.0%
Expenses	$1,907,644	$1,888,620	+0.0%
Net Income	$35,156	$18,001	+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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN DLOBRANO	DIRECTOR	N/A	Director	$0	$0	$0
ALLISON EVERETT	DIRECTOR	N/A	Director	$0	$0	$0
DAVID FINN	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
PATRICIA FOX	DIRECTOR	N/A	Director	$0	$0	$0
HARRIET GILMER	DIRECTOR	N/A	Director	$0	$0	$0
SHEILA GOGGIN	DIRECTOR	N/A	Director	$0	$0	$0
LOUISA GREENE	DIRECTOR	N/A	Director	$0	$0	$0
ROB ROY BUCKINGHAM JR	DIRECTOR	N/A	Director	$0	$0	$0
KERRI KINSELLA	DIRECTOR	N/A	Director	$0	$0	$0
ASHISH KISHORE	TREASURER	N/A	Officer Director	$0	$0	$0
KIRSTEN LAMHAOUAR	DIRECTOR	N/A	Director	$0	$0	$0
KATHY MCCORMACK	PRESIDENT	N/A	Officer Director	$0	$0	$0
ROSANNA NISSEN	DIRECTOR	N/A	Director	$0	$0	$0
MICHAEL RUSSELL	DIRECTOR	N/A	Director	$0	$0	$0
MICHELLE SHIH	SECRETARY	N/A	Officer Director	$0	$0	$0
KELLY THOMPSON	DIRECTOR	N/A	Director	$0	$0	$0
EUCHUNG UNG	DIRECTOR	N/A	Director	$0	$0	$0
EMILY WEINSTEIN	DIRECTOR	N/A	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
2024	$1,942,800	$1,907,644	$7,621,855	$35,156
2023	$1,906,621	$1,888,620	$7,587,398	$18,001
2022	$1,949,573	$1,805,240	$7,567,258	$144,333
2021	$1,774,480	$1,737,141	$7,422,925	$37,339
2020	$1,813,026	$1,745,009	$7,385,586	$68,017

THE PERROT MEMORIAL LIBRARY ASSOCIA OF OLD GREENWICHINC