FRIENDS OF THE HAMDEN LIBRARY

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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

2009

Legal Domicile

Principal Officer

MICHELE HOFFNUNG

Phone

2032872680

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF THE HAMDEN LIBRARY, founded in 2009, is a small nonprofit that reported $978K in total revenue in fiscal year 2023. Revenue surged 4922% from the prior year, signaling strong growth momentum. The organization ran a surplus of $943K, a strong 96% operating margin.

Mission

TO PROMOTE AND SERVE THE HAMDEN PUBLIC LIBRARY SYSTEM; TO ENHANCE THE FACILITIES AND SERVICES OF THE HAMDEN PUBLIC LIBRARY THROUGH GIFTS, ENDOWMENTS, AND BEQUESTS; TO ENRICH THE CULTURAL OPPORTUNITIES AVAILABLE TO THE CITIZENS OF HAMDEN; AND TO SERVE AS A FORUM FOR PUBLIC UNDERSTANDING, PARTICIPATION, AND SUPPORT

Program Service Accomplishments

Program 1

Expenses: $24,756

PROVIDE GRANTS TO THE HAMDEN PUBLIC LIBRARY

Program 2

Revenue: $9,751

FREINDS BOOKSTORE - WE SELL QUALITY USED BOOKS AT REASONABLE PRICES TO HELP BENEFIT LIBRARY SERVICES AND PROGRAMS. LOCATED ON THE LOWER LEVEL AT MILLER MEMORIAL LIBRARY.

Program 3

Expenses: $1,800

THORNTON WILDER WRITING COMPETITION - NOW IN ITS THIRTY-EIGHTH YEAR, THE THORNTON WILDER WRITING COMPETITION WAS ESTABLISHED BY THE FRIENDS OF THE HAMDEN LIBRARY TO HONOR LONG-TIME HAMDEN RESIDENT...

THORNTON WILDER WRITING COMPETITION - NOW IN ITS THIRTY-EIGHTH YEAR, THE THORNTON WILDER WRITING COMPETITION WAS ESTABLISHED BY THE FRIENDS OF THE HAMDEN LIBRARY TO HONOR LONG-TIME HAMDEN RESIDENT AND PULITZER PRIZE WINNING AUTHOR AND PLAYWRIGHT, THORNTON WILDER. THE COMPETITION IS OPEN TO ALL NEW HAVEN COUNTY PUBLIC, PRIVATE AND PAROCHIAL HIGH SCHOOL STUDENTS. OVER THE YEARS WE HAVE AWARDED CASH PRIZES TO HUNDREDS OF STUDENTS FOR THEIR CREATIVE WRITING EFFORTS, AND WE ENCOURAGE STUDENTS TO TAKE ADVANTAGE OF THIS OPPORTUNITY.

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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 $963,030

Program Service Revenue $0

Investment Income $15,048

Other Revenue $0

TOTAL REVENUE $978,078

Expense Breakdown

Grants Paid $23,740

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $26,556

Other Expenses $11,632

TOTAL EXPENSES $35,372

Year-over-Year Comparison

	2023	2022	Change
Revenue	$978,078	$19,477	+49.2%
Expenses	$35,372	$19,488	+0.8%
Net Income	$942,706	$-11	-85701.5%

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
MICHELE HOFFNUNG	PRESIDENT	1.00	Officer Director	$0	$0	$0
ANITA BUCKMASTER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SHARON FOSTER	RECORDING SECRETARY	1.00	Officer Director	$0	$0	$0
SUZANNE MATHESON	TREASURER	1.00	Officer Director	$0	$0	$0
PAT SIRULNICK	CORRESPONDING SECRETARY	1.00	Director	$0	$0	$0
MARY ANN QUINN	PAST PRESIDENT	1.00	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	$978,078	$35,372	$1,090,667	$942,706