FRIENDS OF THE WATERTOWN LIBRARY ASSOCIATION INC

EIN: 061273426 501(c)(3)

WATERTOWN, CT

Total Revenue
$21,253
Total Expenses
$20,008
Total Assets
$16,944
Net Assets
$16,944
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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
1989
Legal Domicile
CT
Principal Officer
JAMES CZARZASTY
Phone
8609455360
Tax Period
2024-07-01 to 2025-06-30

FRIENDS OF THE WATERTOWN LIBRARY ASSOCIATION INC, founded in 1989, is a micro nonprofit that reported $21K in total revenue in fiscal year 2024. Expenses of $20K left a modest 6% surplus.

Mission

THE ORGANIZATION SHALL BE OPERATED EXCLUSIVELY FOR THE SUPPORT AND BENEFIT OF THE WATERTOWN LIBRARY ASSOCIATION.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,685
Program Service Revenue $12,041
Investment Income $0
Other Revenue $1,527
TOTAL REVENUE $21,253

Expense Breakdown

Grants Paid $8,575
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $20,008
Other Expenses $11,433
TOTAL EXPENSES $20,008

Year-over-Year Comparison

2024 2023 Change
Revenue $21,253 $20,178 +0.1%
Expenses $20,008 $16,878 +0.2%
Net Income $1,245 $3,300 -0.6%
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

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Governance

Voting Members
7
Independent Members
7
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
4
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES CZARZASTY TREASURER 20.00
Officer
$0 $0 $0
LYNN KARR-HASLER SECRETARY 20.00
Officer
$0 $0 $0
RITA WOLFE VICE PRESIDENT 20.00
Officer
$0 $0 $0
BARBARA KENNEDY PRESIDENT 20.00
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
2025 $21,253 $20,008 $16,944 $1,245
2024 $20,178 $16,878 $15,699 $3,300
2023 $18,275 $21,866 $12,399 $-3,591
2022 $16,500 $23,606 $15,990 $-7,106
2021 $10,169 $4,069 $23,096 $6,100
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