TAPPAN FREE LIBRARY (EIN 131974005) - 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

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.

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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

$133,970

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA NURGENT	Executive Dir.	40.00	Officer Director	$133,970	$0	$133,970
THANO SCHOPPEL	Vice President	1.00	Director	$0	$0	$0
TJ MIGNONE	Trustee	1.00	Officer Director	$0	$0	$0
GREG DECOLA	Trustee	1.00	Director	$0	$0	$0
VICTORIA CARAMANTE	Treasurer	1.00	Officer Director	$0	$0	$0
GINA HARRIS	Secretary	1.00	Director	$0	$0	$0
BEA SONNENSHEIN	Trustee	1.00	Director	$0	$0	$0
KATHLEEN KEEFE-COOPERMAN	President	1.00	Officer Director	$0	$0	$0
TJ Mignone	Trustee	1.00	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	No data	No data	No data	No data
2024	$935,931	$953,784	$3,828,809	$-17,853
2023	$913,358	$869,311	$3,833,715	$44,047
2022	$913,904	$853,906	$3,793,235	$59,998
2021	$849,875	$775,246	$3,727,151	$74,629
2020	$882,584	$714,254	$3,831,056	$168,330
2019	$860,452	$797,865	$3,750,367	$62,587
2018	$857,276	$765,639	$3,800,509	$91,637

TAPPAN FREE LIBRARY