GALWAY 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

2000

Legal Domicile

Principal Officer

CATE LABARRE

Phone

5188826385

Tax Period

2020-07-01 to 2021-06-30

GALWAY PUBLIC LIBRARY, founded in 2000, is a small nonprofit that reported $247K in total revenue in fiscal year 2020. Revenue fell 54% from the prior year — a significant decline worth monitoring. Expenses of $309K exceeded revenue, resulting in a 25% operating deficit.

Mission

THE MISSION OF THE GALWAY PUBLIC LIBRARY IS TO CONNECT THE COMMUNITY TO IDEAS, RESOURCES AND INFORMATION THAT WILL ENRICH, ENLIGHTEN AND ENTERTAIN.

Program Service Accomplishments

Program 1

Expenses: $251,747 Revenue: $187,706

A LIBRARY SERVING GALWAY CENTRAL SCHOOL DISTRICT. THE LIBRARY CONTINUES TO OFFER INFORMATION RESOURCES REGARDLESS OF FORMAT AND ENGAGES WITH THE COMMUNITY TO ENSURE THE LIFELONG PURSUIT OF LEARNING.

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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 (2020)

Revenue Breakdown

Contributions & Grants $58,205

Program Service Revenue $187,706

Investment Income $643

Other Revenue $0

TOTAL REVENUE $246,554

Expense Breakdown

Grants Paid $0

Salaries & Benefits $117,695

Fundraising Expenses $0

Program Expenses $251,747

Other Expenses $191,711

TOTAL EXPENSES $309,406

Year-over-Year Comparison

	2020	2019	Change
Revenue	$246,554	$536,887	-0.5%
Expenses	$309,406	$254,446	+0.2%
Net Income	$-62,852	$282,441	-1.2%

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

Total Directors

$54,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATE LABARRE	PRESIDENT	1.00	Officer	$0	$0	$0
FREDRICK G BAILY	VICE PRESIDENT	1.00	Officer	$0	$0	$0
SANTINA FLORIO	SECRETARY	1.00	Officer	$0	$0	$0
JANE BEHRENS	TRUSTEE	1.00	Director	$0	$0	$0
JAMES HODSOLL	TRUSTEE	1.00	Director	$0	$0	$0
ARLENE RHODES	TRUSTEE	1.00	Director	$0	$0	$0
SUE WEMPLE	TRUSTEE	1.00	Director	$0	$0	$0
DEBRA RICHARDS-FLINT	DIRECTOR	35.00	Director	$46,511	$7,889	$54,400

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
2021	$246,554	$309,406	$3,560,621	$-62,852
2020	$536,887	$254,446	$3,604,106	$282,441