THE LITERARY CLASSICS OF THE US INC D/B/A LIBRARY OF AMERICA (EIN 132986916) - 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

1979

Legal Domicile

Principal Officer

MAX RUDIN

Phone

2123083360

Tax Period

2023-07-01 to 2024-06-30

THE LITERARY CLASSICS OF THE US INC D/B/A LIBRARY OF AMERICA, founded in 1979, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.1M in total revenue in fiscal year 2023. Net assets of $32.9M represent 65 months of operating reserves.

Mission

THE LIBRARY OF AMERICA WAS FOUNDED IN 1979 TO UNDERTAKE A HISTORIC ENDEAVOR: TO HELP PRESERVE THE NATION'S CULTURAL HERITAGE BY PUBLISHING AMERICA'S BEST AND MOST SIGNIFICANT WRITING IN DURABLE AND AUTHORITATIVE EDITIONS.

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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 $2,881,421

Program Service Revenue $0

Investment Income $547,034

Other Revenue $2,649,419

TOTAL REVENUE $6,077,874

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,736,718

Fundraising Expenses $747,477

Program Expenses $4,648,333

Other Expenses $3,915,595

TOTAL EXPENSES $6,652,313

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,077,874	$5,975,822	+0.0%
Expenses	$6,652,313	$6,101,128	+0.1%
Net Income	$-574,439	$-125,306	+3.6%

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

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

$617,274

Total Directors

$18,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM GOPNIK	DIRECTOR	5.00	Director	$0	$0	$0
ALAN M KLEIN	DIRECTOR	5.00	Director	$0	$0	$0
AMOR TOWLES	DIRECTOR	5.00	Director	$0	$0	$0
AMY DAVIDSON SORKIN	DIRECTOR	5.00	Director	$0	$0	$0
BENITO CACHINERO-SANCHEZ	VICE CHAIR	5.00	Officer Director	$0	$0	$0
D RONALD DANIEL	DIRECTOR (OUTGOING)	5.00	Director	$0	$0	$0
DANIEL WEISS	VICE CHAIR	5.00	Officer Director	$0	$0	$0
ELIHU ROSE	DIRECTOR	5.00	Director	$0	$0	$0
ELIZABETH W SMITH	CHAIR	10.00	Officer Director	$0	$0	$0
FREDERICK W BEINECKE	DIRECTOR	5.00	Director	$0	$0	$0
G THOMAS TANSELLE	SECRETARY	10.00	Officer Director	$18,000	$0	$18,000
HENRY LOUIS GATES JR	DIRECTOR	5.00	Director	$0	$0	$0
JOANNE FREEMAN	DIRECTOR	5.00	Director	$0	$0	$0
KATHLEEN KENNEDY	DIRECTOR	5.00	Director	$0	$0	$0
MATTHEW MCLENNAN	TREASURER	10.00	Officer Director	$0	$0	$0
MICHAEL BIERUT	DIRECTOR	5.00	Director	$0	$0	$0
MONA SIMPSON	DIRECTOR	5.00	Director	$0	$0	$0
TONY KUSHNER	DIRECTOR	5.00	Director	$0	$0	$0
DANIEL BAKER	VICE PRESIDENT & CFO	50.00	Officer	$204,622	$69,653	$274,275
MAX RUDIN	PRESIDENT & PUBLISHER	50.00	Officer	$306,585	$18,414	$324,999
CAROL M EINHORN	DIR. OF INSTITUTIONAL ADV.	50.00	Highest	$147,063	$35,470	$182,533
DAVID CLOYCE SMITH	DIR. OF PROD. & CONSUMER	50.00	Highest	$121,087	$25,960	$147,047
JOHN KULKA	EDITORIAL DIRECTOR	50.00	Highest	$152,863	$39,186	$192,049
PATRICIA HOARD	MANAGING EDITOR	50.00	Highest	$110,194	$18,932	$129,126

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	$6,077,874	$6,652,313	$37,499,151	$-574,439
2023	$5,975,822	$6,101,128	$35,285,749	$-125,306
2022	$6,738,720	$6,182,123	$30,362,811	$556,597
2021	$7,761,557	$6,718,390	$32,475,122	$1,043,167
2020	$5,859,632	$5,805,040	$26,603,428	$54,592
2019	$6,011,599	$5,404,486	$25,593,448	$607,113
2018	$8,288,427	$5,601,153	$24,243,850	$2,687,274

THE LITERARY CLASSICS OF THE US INC D/B/A LIBRARY OF AMERICA