THE RUSSELL LIBRARY COMPANY

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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

1875

Legal Domicile

Principal Officer

RAMONA BURKEY

Phone

8603472528

Tax Period

2023-07-01 to 2024-06-30

THE RUSSELL LIBRARY COMPANY, founded in 1875, is a small nonprofit that reported $186K in total revenue in fiscal year 2023. The organization ran a surplus of $32K, a strong 17% operating margin.

Mission

TO OPERATE A FREE PUBLIC LIBRARY IN THE CITY OF MIDDLETOWN, CT; TO PROMOTE LITERACY AND EDUCATIONAL ACTIVITIES IN CONNECTION WITH THE LIBRARY FOR THE PERPETUAL BETTERMENT AND ENJOYMENT OF ITS INHABITANTS.

Program Service Accomplishments

Program 1

Expenses: $99,503 Revenue: $26,886

THE ORGANIZATION PROVIDES THE CITIZENS OF MIDDLETOWN, CT WITH ACCESS TO SERVICES WHICH INTEGRATE THEIR INFORMATIONAL AND RECREATIONAL NEEDS WITH THE TOTAL RESOURCES OF THE LIBRARY'S COLLECTION. THE CITY OF MIDDLETOWN PROVIDED $3,326,636 OF SUPPORT, WHICH IS APPROXIMATELY 98% OF THE TOTAL SUPPORT FOR THE 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 (2023)

Revenue Breakdown

Contributions & Grants $101,343

Program Service Revenue $13,336

Investment Income $57,556

Other Revenue $13,550

TOTAL REVENUE $185,785

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $99,503

Other Expenses $153,950

TOTAL EXPENSES $153,950

Year-over-Year Comparison

	2023	2022	Change
Revenue	$185,785	N/A	N/A
Expenses	$153,950	N/A	N/A
Net Income	$31,835	$0	N/A

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
A STEPHEN NELSON	TRUSTEE	0.50	Director	$0	$0	$0
EAMONN WISNESKI	PRESIDENT	0.50	Officer Director	$0	$0	$0
SARAH SCHULENBERG	SECRETARY	0.50	Officer Director	$0	$0	$0
ANDREW BECKER	TREASURER	0.50	Officer Director	$0	$0	$0
JENNIFER HADLEY	TRUSTEE	0.50	Director	$0	$0	$0
THOMAS RUSSELL IV	TRUSTEE	0.50	Director	$0	$0	$0
GREG HARRIS	TRUSTEE	0.50	Director	$0	$0	$0
KELLIN ATHERTON	TRUSTEE	0.50	Director	$0	$0	$0
RAMONA BURKEY	DIRECTOR	40.00	Officer Director	$0	$0	$0
SHANAY FULTON	VICE-PRESIDENT	0.50	Officer Director	$0	$0	$0
CINDY HARRISON	TRUSTEE	0.50	Director	$0	$0	$0
ANN PERCIVAL	TRUSTEE	0.50	Director	$0	$0	$0
ANDREW WHITE	TRUSTEE	0.50	Director	$0	$0	$0
LAURI DOUGLAS	TRUSTEE	0.50	Director	$0	$0	$0
JAMES BELIN	TRUSTEE	0.50	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	$185,785	$153,950	$1,734,987	$31,835
2023	$131,455	$212,394	$1,593,889	$-80,939
2022	$245,238	$226,150	$1,600,822	$19,088
2021	$202,070	$189,769	$1,876,967	$12,301
2020	$155,204	$155,227	$1,671,235	$-23