TRUSTEES OF THE FREE PUBLIC LIBRARY OF PENNINGTON

EIN: 223106791 501(c)(3)

Pennington, NJ

Total Revenue
$259,138
Total Expenses
$240,274
Total Assets
$211,363
Net Assets
$150,884
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
NJ
Phone
6097370404
Tax Period
2024-01-01 to 2024-12-31

TRUSTEES OF THE FREE PUBLIC LIBRARY OF PENNINGTON, founded in 2016, is a small nonprofit that reported $259K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $240K left a modest 7% surplus.

Mission

TO PROVIDE PUBLIC LIBRARY SERVICES TO THE RESIDENTS OF THE BOROUGH OF PENNINGTON NJ

Program Service Accomplishments

Program 1
Expenses: $183,350 Revenue: $9,120

PROVIDE FREE EDUCATIONAL AND LITERARY RESOURCES TO THE RESIDENTS OF THE BOROUGH OF PENNINGTON NJ

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $250,018
Program Service Revenue $1,552
Investment Income $7,568
Other Revenue $0
TOTAL REVENUE $259,138

Expense Breakdown

Grants Paid $0
Salaries & Benefits $122,578
Fundraising Expenses $0
Program Expenses $183,350
Other Expenses $117,696
TOTAL EXPENSES $240,274

Year-over-Year Comparison

2024 2023 Change
Revenue $259,138 $232,315 +0.1%
Expenses $240,274 $207,567 +0.2%
Net Income $18,864 $24,748 -0.2%
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

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Governance

Voting Members
8
Independent Members
8
Employees
5
Volunteers
19

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
5
$57,000
Total Directors
8
$57,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KIM HA DIRECTOR 30.00
Officer Director
$57,000 $0 $57,000
AMY SULLIVAN TRUSTEE 0.00
Director
$0 $0 $0
MEREDITH MOORE TRUSTEE 0.00
Director
$0 $0 $0
DAVID DREWBERRY TRUSTEE 0.00
Director
$0 $0 $0
JULIE ABERGER VICE PRESIDENT 0.00
Officer Director
$0 $0 $0
HILARY BURKE PRESIDENT 0.00
Officer Director
$0 $0 $0
JOSEPH BIELAMOWICZ TREASURER 0.00
Officer Director
$0 $0 $0
CAROL OLSEN SECRETARY 0.00
Officer 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 $259,138 $240,274 $211,363 $18,864
2023 $232,315 $207,567 $211,934 $24,748
2022 $204,005 $194,822 $148,464 $9,183
2021 $184,013 $181,841 $101,673 $2,172
2020 $187,712 $174,773 $97,847 $12,939
2019 $227,133 $196,626 $89,018 $30,507
2018 $183,718 $189,703 $62,203 $-5,985
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