HUDSON AREA ASSOCIATION LIBRARY (EIN 141456213) - 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

1959

Legal Domicile

Principal Officer

MICHAEL GRISHAM

Phone

5188281792

Tax Period

2023-01-01 to 2023-12-31

HUDSON AREA ASSOCIATION LIBRARY, founded in 1959, is a small nonprofit in the Education sector that reported $810K in total revenue in fiscal year 2023. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $157K, a strong 19% operating margin.

Mission

THE HUDSON AREA LIBRARY ENRICHES THE QUALITY OF LIFE BY PROVIDING FREE AND EQUAL ACCESS TO PROGRAMS, SERVICES AAND RESOURCES, AND BY CREATING OPPORTUNITIES FOR ALL MEMBERS OF OUR COMMUNITY TO CONNECT, CREATE, LEARN AND GROW.

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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 $680,868

Program Service Revenue $5,706

Investment Income $642

Other Revenue $122,864

TOTAL REVENUE $810,080

Expense Breakdown

Grants Paid $0

Salaries & Benefits $403,821

Fundraising Expenses $29,526

Program Expenses $564,803

Other Expenses $249,282

TOTAL EXPENSES $653,103

Year-over-Year Comparison

	2023	2022	Change
Revenue	$810,080	$525,862	+0.5%
Expenses	$653,103	$621,997	+0.1%
Net Income	$156,977	$-96,135	-2.6%

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

$72,521

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAITIE HILVERMAN	PRESIDENT	8.00	Officer Director	$0	$0	$0
JULIA BLACK	VICE PRESIDENT	8.00	Officer Director	$0	$0	$0
DANI FRENCH	SECRETARY	5.00	Officer Director	$0	$0	$0
MICHAEL GRISHAM	TREASURER	5.00	Officer Director	$0	$0	$0
JESSICA ALMELEH-FRAZER	TRUSTEE	3.00	Director	$0	$0	$0
ELIZABETH DICKEY	TRUSTEE	5.00	Director	$0	$0	$0
LINDA FRIEDNER	TRUSTEE	5.00	Director	$0	$0	$0
RICHARD GARMISE	TRUSTEE	3.00	Director	$0	$0	$0
CRYSTAL JEFFS	TRUSTEE	5.00	Director	$0	$0	$0
MIRANDA BARRY	TRUSTEE	3.00	Director	$0	$0	$0
WESLEY BROWN	TRUSTEE	3.00	Director	$0	$0	$0
STEPHANIE A ROYAL	TRUSTEE	3.00	Director	$0	$0	$0
SJ WILLIAMS	TRUSTEE	5.00	Director	$0	$0	$0
RYAN KELLY	TRUSTEE	5.00	Director	$0	$0	$0
MADDIE MEEHAN	TRUSTEE	3.00	Director	$0	$0	$0
KIMBERLY ERWIN	TRUSTEE	3.00	Director	$0	$0	$0
EMILY CHAMEIDES	EXECUTIVE DIRECTOR	40.00	Officer	$72,521	$0	$72,521

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
2024	No data	No data	No data	No data
2023	$810,080	$653,103	$5,189,967	$156,977
2022	$525,862	$621,997	$6,077,934	$-96,135
2021	$634,014	$612,234	$978,272	$21,780
2020	$602,203	$557,247	$944,860	$44,956
2019	$627,640	$588,537	$898,467	$39,103
2018	$549,087	$546,256	$854,258	$2,831

HUDSON AREA ASSOCIATION LIBRARY