LaFayette Public 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

1936

Legal Domicile

Principal Officer

Jessica Rice

Phone

3156773782

Tax Period

2024-01-01 to 2024-12-31

LaFayette Public Library, founded in 1936, is a small nonprofit that reported $304K in total revenue in fiscal year 2024. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $55K, a strong 18% operating margin.

Mission

PROVIDES PUBLIC LIBRARY SERVICES AND PROMOTION OF LITERACY TO THE LAFAYETTE, NY COMMUNITY. OPERATES AS A BRANCH LIBRARY FOR THE ONONDAGA COUNTY LIBRARY SYSTEM.

Program Service Accomplishments

Program 1

Expenses: $220,624

PUBLIC LIBRARY FACILITIES ARE PROVIDED TO APPOXIMATELY 4900 RESIDENTS IN THE LAFAYETTE, N.Y. AREA. THE LIBRARY IS OPEN 1,972 HOURS IN 2024. PROGRAMS INCLUDE MOTHER GOOSE STORY TIME, PRE-SCHOOLER...

PUBLIC LIBRARY FACILITIES ARE PROVIDED TO APPOXIMATELY 4900 RESIDENTS IN THE LAFAYETTE, N.Y. AREA. THE LIBRARY IS OPEN 1,972 HOURS IN 2024. PROGRAMS INCLUDE MOTHER GOOSE STORY TIME, PRE-SCHOOLER STORY TIME, SUMMER READING PROGRAM, LITERACY TRAINING, AND INTERNET TRAINING AND ACCESS. 99 PROGRAMS WERE OFFERED. TOTAL CIRCULATION FOR 2024 OF CATALOGED BOOKS WAS 17,449 AND OTHER MATERIALS WAS 14,198, FOR A TOTAL OF 24,548. TOTAL ELECTRONIC MATERIALS CIRCULATED AMOUNTED TO 5,814. TOTAL HOLDINGS WERE 107,654. THE LIBRARY HAD OVER 7,000 VISITORS AND LOANED 39,000 ITEMS IN 2024.

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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 $289,796

Program Service Revenue $13,508

Investment Income $1,185

Other Revenue $0

TOTAL REVENUE $304,489

Expense Breakdown

Grants Paid $0

Salaries & Benefits $176,527

Fundraising Expenses $0

Program Expenses $220,624

Other Expenses $72,565

TOTAL EXPENSES $249,092

Year-over-Year Comparison

	2024	2023	Change
Revenue	$304,489	$211,026	+0.4%
Expenses	$249,092	$217,419	+0.1%
Net Income	$55,397	$-6,393	-9.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL FORCE	FINANCE OFFICER	002.00	Officer Director	$0	$0	$0
MICHELE COMBS	SECRETARY	002.00	Officer Director	$0	$0	$0
JENNIFER GATES	TRUSTEE	001.00	Director	$0	$0	$0
RUTH ANNE SHUTE	PRESIDENT	002.00	Officer Director	$0	$0	$0
JESSICA RICE	DIRECTOR	042.00	Director Key Emp Highest	$0	$0	$0
WENDY MOLTION	VICE PRESIDENT	001.00	Officer Director	$0	$0	$0
DAPHNE REYBURN	TRUSTEE	001.00	Director	$0	$0	$0
TRACEY GRAY	TRUSTEE	001.00	Director	$0	$0	$0
CLAIRE JONES	TRUSTEE	001.00	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
2024	$304,489	$249,092	$811,378	$55,397
2023	$211,026	$217,419	$755,981	$-6,393
2022	$210,892	$212,038	$762,374	$-1,146
2021	$186,917	$189,556	$763,520	$-2,639
2020	$188,083	$198,573	$766,159	$-10,490
2019	$185,924	$200,387	$776,649	$-14,463
2018	$185,981	$199,844	$791,112	$-13,863