NEW CITY FREE LIBRARY (EIN 131862482) - Form 990 Financial Analysis & Trantor Score

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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

1951

Legal Domicile

Principal Officer

ROBERT AXELROD

Phone

8456344997

Tax Period

2024-07-01 to 2025-06-30

NEW CITY FREE LIBRARY, founded in 1951, is a community nonprofit that reported $6.4M in total revenue in fiscal year 2024. Expenses of $5.7M left a modest 11% surplus.

Mission

TO PROVIDE FREE PUBLIC LIBRARY SERVICES TO COMMUNITIES OF NEW CITY, CONGERS AND BARDONIA, NEW YORK.

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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 (2024)

Revenue Breakdown

Contributions & Grants $6,024,982

Program Service Revenue $0

Investment Income $78,159

Other Revenue $253,150

TOTAL REVENUE $6,356,291

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,727,729

Fundraising Expenses $0

Program Expenses $4,791,640

Other Expenses $1,955,997

TOTAL EXPENSES $5,683,726

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,356,291	$6,189,980	+0.0%
Expenses	$5,683,726	$5,455,249	+0.0%
Net Income	$672,565	$734,731	-0.1%

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

Volunteers

322

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

$865,238

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
1 MARIENNE GALLAGHER	LIBRARY DIRECTOR	35.00	Officer	$161,715	$19,680	$181,395
2 BRIAN JENNINGS	HEAD OF ADULT SERVICES	35.00	Officer Highest	$121,842	$16,806	$138,648
3 JANET MAKOUJY	HEAD OF CHILDRENS SERVICE	35.00	Officer Highest	$148,178	$15,160	$163,338
4 SHIBU ABRAHAM	FINANCE MANAGER	35.00	Officer	$117,161	$10,165	$127,326
5 VERONICA REYNOLDS	HEAD OF COMMUNITY RELATIONS	35.00	Officer Highest	$138,086	$16,421	$154,507
6MARK GERVINO	Head of Support Services	35.00	Officer	$92,780	$7,244	$100,024
8 VICTOR BERGER	PRESIDENT/TRUSTEE	1.00	Officer Director	$0	$0	$0
9 PATRICIA VOCE	VICE-PRESIDENT/TRUSTEE	1.00	Officer Director	$0	$0	$0
10 ROBERT AXELROD	TREASURER/TRUSTEE	1.00	Officer Director	$0	$0	$0
11 LISA COUGHLIN	SECRETARY/TRUSTEE	0.50	Officer Director	$0	$0	$0
12 JAMES FERGUSON	TRUSTEE	0.50	Director	$0	$0	$0
13 NICHOLAS A LONGO JR	TRUSTEE	0.50	Director	$0	$0	$0
14 PHYLLIS MORENA	TRUSTEE	0.50	Director	$0	$0	$0
15 PATRICIA RANIERI	TRUSTEE	0.50	Director	$0	$0	$0
16 JEFFREY SASSON	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	$6,356,291	$5,683,726	$18,902,931	$672,565
2024	$6,189,980	$5,455,249	$19,169,374	$734,731
2023	$6,136,764	$4,647,192	$21,419,100	$1,489,572
2022	$6,151,626	$4,772,732	$17,574,056	$1,378,894
2021	$5,539,959	$4,434,050	$9,285,638	$1,105,909
2020	$5,464,903	$4,807,315	$8,112,463	$657,588
2019	$5,352,974	$4,553,047	$7,466,567	$799,927
2018	$5,277,162	$4,553,151	$6,611,344	$724,011

NEW CITY FREE LIBRARY