NEWMAN RIGA 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

1952

Legal Domicile

Principal Officer

JOAN HAWTHORNE

Phone

5852932009

Tax Period

2024-01-01 to 2024-12-31

NEWMAN RIGA LIBRARY, founded in 1952, is a small nonprofit in the Education sector that reported $826K in total revenue in fiscal year 2024. Revenue surged 158% from the prior year, signaling strong growth momentum. The organization ran a surplus of $601K, a strong 73% operating margin.

Mission

OPERATION AND MAINTENANCE OF A PUBLIC LIBRARY ASSOCIATION SERVING PRIMARILY THE RESIDENTS OF THE TOWN OF RIGA, NY

Program Service Accomplishments

Program 1

Expenses: $121,021

CIRCULATION OF 24,743 BOOKS AND OTHER MEDIA

Program 2

Expenses: $25,671

923 NEW TITLES WERE ADDED TO THE LIBRARY COLLECTION

Program 3

Expenses: $40,280

LIBRARY EVENT PROGRAMMING TO PROMOTE THE USE OF THE LIBRARY AND ENCOURAGE LITERACY; 59 SESSIONS WITH 794 PARTICIPANTS

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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 $200,228

Program Service Revenue $0

Investment Income $621,514

Other Revenue $3,905

TOTAL REVENUE $825,647

Expense Breakdown

Grants Paid $0

Salaries & Benefits $151,552

Fundraising Expenses $0

Program Expenses $186,972

Other Expenses $72,620

TOTAL EXPENSES $224,172

Year-over-Year Comparison

	2024	2023	Change
Revenue	$825,647	$320,390	+1.6%
Expenses	$224,172	$211,453	+0.1%
Net Income	$601,475	$108,937	+4.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MONICA BLANK	PRESIDENT	1.00	Officer Director	$0	$0	$0
SANDRA WILSON	BOARD MEMBER	0.50	Director	$0	$0	$0
DEBRA LANDERS	SECRETARY	0.50	Officer Director	$0	$0	$0
KARI CAMERON	BOARD MEMBER	0.50	Director	$0	$0	$0
LINDA BRANCH	BOARD MEMBER	0.50	Director	$0	$0	$0
PAMELA KISSEL	BOARD MEMBER	0.50	Director	$0	$0	$0
ANN-MARIE DEAN	VICE PRESIDENT	0.50	Director	$0	$0	$0
MARY CHRISTINA JONES	BOARD MEMBER	0.50	Director	$0	$0	$0
JOAN HAWTHORNE	TREASURER	0.50	Officer Director	$0	$0	$0
MARTIN ZESS	ASSISTANT-TREASURER	0.50	Officer Director	$0	$0	$0
FRANCIS SCHWALM	BOARD MEMBER	0.50	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	$825,647	$224,172	$2,025,165	$601,475
2023	$320,390	$211,453	$1,818,205	$108,937
2022	$279,151	$204,537	$1,653,638	$74,614
2021	$267,487	$206,218	$1,916,978	$61,269
2020	$318,612	$196,833	$1,728,210	$121,779
2019	$300,066	$193,336	$1,683,010	$106,730