FRIENDS OF THE PEAPACK-GLADSTONE LIBRARY INC (EIN 222569825) - 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

2003

Legal Domicile

Principal Officer

CAROL LANE

Phone

9082340598

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF THE PEAPACK-GLADSTONE LIBRARY INC, founded in 2003, is a micro nonprofit that reported $56K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $363K exceeded revenue, resulting in a 549% operating deficit.

Mission

TO PROVIDE FUNDS TO HELP IMPROVE THE QUALITY OF THE LIBRARY FOR THE BOROUGH OF PEAPACK GLADSTONE.

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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 $44,721

Program Service Revenue $0

Investment Income $11,224

Other Revenue $0

TOTAL REVENUE $55,945

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $359,175

Other Expenses $362,881

TOTAL EXPENSES $362,881

Year-over-Year Comparison

	2024	2023	Change
Revenue	$55,945	$70,822	-0.2%
Expenses	$362,881	$4,333	+82.7%
Net Income	$-306,936	$66,489	-5.6%

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

N/A

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
SUSAN KENNEDY	TREASURER	1.00	Officer	$0	$0	$0
CAROL LANE	PRESIDENT	1.00	Officer	$0	$0	$0
MARGARET WALTERS	VICE PRESIDE	1.00	Officer	$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	$55,945	$362,881	$69,927	$-306,936
2023	$70,822	$4,333	$704,074	$66,489
2022	$4,581	$3,785	$637,585	$796
2021	$3,780	$4,095	$636,789	$-315
2020	$3,264	$3,972	$637,004	$-708
2019	$8,375	$5,402	$637,862	$2,973

FRIENDS OF THE PEAPACK-GLADSTONE LIBRARY INC