TAPPAN FREE 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

1967

Legal Domicile

Principal Officer

VICTORIA CARAMANTE

Phone

8453593877

Tax Period

2024-01-01 to 2024-12-31

TAPPAN FREE LIBRARY, founded in 1967, is a small nonprofit that reported $936K in total revenue in fiscal year 2024. Net assets of $3.8M represent 48 months of operating reserves.

Mission

The Tappan Free Library is a free association library, since 1958, The Library is a New York State Not-For-Profit corporation whose purpose is to provide library service to the community of Tappan. The Town of Orangetown provides approximately 92% of our annual financial support primarily through tax assessments. The remainder of our funding comes from a local school district referendum, grants, fines and private donations. Serving a community of 6,613 residents our mission is to offer our community a place to read, to learn, and to gather together. Professional and courteous staff members guide patrons to a wide variety of books and other relevant materials in printed, recorded and emergent technologies. The Library provides programs that will encourage children, interest young adults, and enrich our lives and community. The Library is housed in a building that preserves Tappanb

Program Service Accomplishments

Program 1

Expenses: $766,549

PRIMARY LIBRARY SERVICE ROLES Providing Current Topics and TitlesWe make materials available for patrons of all ages. We provide these materials in a wide range of formats including print, e-media...

PRIMARY LIBRARY SERVICE ROLES Providing Current Topics and TitlesWe make materials available for patrons of all ages. We provide these materials in a wide range of formats including print, e-media and audio visual material. Providing General InformationWe provide a profession staff to meet the needs of our patrons questions on broad array of topics related to work, school and personal life. We provide information answers to consumer information inquiries as well.Serving as a resource center for Lifelong Learning We provide opportunities for personal growth and development including various programs for children, teens and adults.Children ProgramsWe provide literacy programs for newborns to school-age students. Programs include storytime for babies and toddlers, crafts, literacy skills, educational presentations, movies, various performers and an annual summer reading program.Teen ProgramsWe provide programs from computer coding to preparing students for college entry testing to finding scholarship to movies to crafts. We also encourage students to read in our annual summer reading program.Adult programsWe offer informative and entertaining talks, book discussions, one-on-one computer skill sessions, movies, writing workshops, concerts and other special events ranging from cook book clubs to mah-jongg sessions. We work with the local historical societies to bring in special local history programs as well.

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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 $906,787

Program Service Revenue $0

Investment Income $23,841

Other Revenue $5,303

TOTAL REVENUE $935,931

Expense Breakdown

Grants Paid $0

Salaries & Benefits $566,841

Fundraising Expenses $0

Program Expenses $766,549

Other Expenses $386,943

TOTAL EXPENSES $953,784

Year-over-Year Comparison

	2024	2023	Change
Revenue	$935,931	$913,358	+0.0%
Expenses	$953,784	$869,311	+0.1%
Net Income	$-17,853	$44,047	-1.4%

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

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

$133,970

Total Directors