SMITHTOWN SPECIAL LIBRARY DISTRICT

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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

2002

Legal Domicile

Principal Officer

ANNETTE GALARZA

Phone

6312652072

Tax Period

2025-01-01 to 2025-12-31

SMITHTOWN SPECIAL LIBRARY DISTRICT, founded in 2002, is a mid-sized nonprofit that reported $18.1M in total revenue in fiscal year 2025. The organization ran a surplus of $4.0M, a strong 22% operating margin.

Mission

TO PROVIDE ACCESS TO DIVERSE INFORMATION, LIFELONG LEARNING AND ENTERTAINMENT RESOURCES IN THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $12,414,218

REFERENCE CENTER, THE LIBRARY ACTIVELY PROVIDES TIMELY, ACCURATE, AND USEFUL INFORMATION FOR RESIDENTS IN RESPONSE TO THEIR JOB RELATED AND PERSONAL NEEDS. IT PROVIDES COMPUTERS ONSITE AND WIRELESS ACCESS. THE LIBRARY'S FORMAL EDUCATION SUPPORT CENTER ASSISTS STUDENTS OF ALL AGES IN MEETING THE EDUCATIONAL REQUIREMENTS OF COURSES OF STUDY. THE POPULAR MATERIALS CENTER FEATURES CURRENT, HIGH DEMAND, HIGH INTEREST MATERIALS IN VARIOUS FORMATS FOR ALL AGES; IT ACTIVELY PROMOTES AND ENCOURAGES THE USE OF ITS COLLECTION. THE PRESCHOOLERS' DOOR TO LEARNING ENCOURAGES YOUNG CHILDREN TO DEVELOP AN INTEREST IN READING AND LEARNING THROUGH SERVICES FOR CHILDREN AND FOR PARENTS AND CHILDREN TOGETHER.

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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 (2025)

Revenue Breakdown

Contributions & Grants $17,500,379

Program Service Revenue $100,883

Investment Income $506,740

Other Revenue $0

TOTAL REVENUE $18,108,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,245,599

Fundraising Expenses $0

Program Expenses $12,414,218

Other Expenses $3,900,671

TOTAL EXPENSES $14,146,270

Year-over-Year Comparison

	2025	2024	Change
Revenue	$18,108,002	$17,232,056	+0.1%
Expenses	$14,146,270	$17,990,550	-0.2%
Net Income	$3,961,732	$-758,494	-6.2%

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

164

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT LUSAK	DIRECTOR	35.00		$267,018	$51,683	$318,701
PATRICIA THOMSON	ASSISTANT DIRECTOR	35.00		$152,341	$36,890	$189,231
EILEEN CAULFIELD	LIBRARIAN	35.00		$121,481	$51,716	$173,197
LAUREN GUNDERSON	LIBRARIAN	35.00		$117,342	$51,182	$168,524
JAMES BUCKMAN	LIBRARIAN	35.00		$115,232	$32,103	$147,335
MILDRED BERNSTEIN	Trustee	2.00	Director	$0	$0	$0
BARBARA DEAL	Trustee	2.00	Director	$0	$0	$0
HOWARD KNIPSEL	Vice President	2.00	Officer Director	$0	$0	$0
ANNETTE GALARZA	President	2.00	Officer Director	$0	$0	$0
THERESA STABILE	Trustee	2.00	Director	$0	$0	$0
CHRISTOPHER SARVIS	Trustee	2.00	Director	$0	$0	$0
BRIANNA BAKER-STINES	Trustee	2.00	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	$18,108,002	$14,146,270	$34,467,551	$3,961,732
2024	$17,232,056	$17,990,550	$35,967,734	$-758,494
2023	$16,825,154	$16,896,025	$40,433,764	$-70,871
2022	$15,922,701	$14,819,433	$41,688,499	$1,103,268
2021	$15,642,317	$14,709,782	$38,994,883	$932,535
2020	$15,497,844	$16,182,705	$39,028,022	$-684,861