GLOVERSVILLE 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

2005

Legal Domicile

Principal Officer

CHARLES W REED

Phone

5187252819

Tax Period

2023-07-01 to 2024-06-30

GLOVERSVILLE PUBLIC LIBRARY, founded in 2005, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 28% operating deficit.

Mission

PUBLIC LIBRARY - LIBRARY SERVICES PROVIDED TO RESIDENTS OF THE GLOVERSVILLE ENLARGED SCHOOL DISTRICT AND THE SURROUNDING AREA

Program Service Accomplishments

Program 1

Expenses: $1,169,325

PROVIDING PUBLIC LIBRARY SERVICES TO THE RESIDENTS OF THE GLOVERSVILLE ENLARGED SCHOOL DISTRICT AND THE SURROUNDING AREA

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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 $1,004,770

Program Service Revenue $3,607

Investment Income $58,651

Other Revenue $487

TOTAL REVENUE $1,067,515

Expense Breakdown

Grants Paid $0

Salaries & Benefits $726,535

Fundraising Expenses $0

Program Expenses $1,169,325

Other Expenses $640,572

TOTAL EXPENSES $1,367,107

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,067,515	$1,259,986	-0.2%
Expenses	$1,367,107	$1,547,303	-0.1%
Net Income	$-299,592	$-287,317	+0.0%

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
Jonathan Federman	Trustee	005.00	Director	$0	$0	$0
Charlotte Will	Trustee	005.00	Director	$0	$0	$0
Greg Niforos	Trustee -President	005.00	Officer Director	$0	$0	$0
Susan Shrader	Trustee - Secretary	005.00	Officer Director	$0	$0	$0
Merry Dunn Brown	Trustee - Vice Pres.	005.00	Officer Director	$0	$0	$0
Caren Pepper	Trustee	005.00	Director	$0	$0	$0
Richard Carlson	Trustee	005.00	Director	$0	$0	$0
Charles W Reed	Trustee - VP of Finance	005.00	Officer Director	$0	$0	$0
John Mazur	Trustee	005.00	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
2025	No data	No data	No data	No data
2024	$1,067,515	$1,367,107	$9,009,859	$-299,592
2023	$1,259,986	$1,547,303	$9,202,651	$-287,317
2022	$730,268	$1,157,540	$9,301,416	$-427,272
2021	$847,751	$1,073,927	$9,710,207	$-226,176
2020	$621,698	$1,149,558	$10,171,192	$-527,860
2019	$5,266,159	$860,642	$10,612,135	$4,405,517