WELLES-TURNER MEMORIAL LIBRARY SEC… - Form 990 Financial Data

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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

1992

Legal Domicile

Principal Officer

VIRGINIA ROSCOE

Phone

8606331546

Tax Period

2024-01-01 to 2024-12-31

WELLES-TURNER MEMORIAL LIBRARY SECOND CE, founded in 1992, is a small nonprofit in the Education sector that reported $106K in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $73K, a strong 69% operating margin.

Mission

A PUBLICLY SUPPORTED, NOT-FOR-PROFIT ORGANIZATION WHOSE CHARITABLE AND EDUCATIONAL MISSION IS TO HELP MEET THE LONG-TERM AND LARGE-SCALE NEEDS OF GLASTONBURY'S WELLES-TURNER MEMORIAL LIBRARY.

Program Service Accomplishments

Program 1

Expenses: $28,086

PROMOTE AWARENESS OF THE LIBRARY THROUGH CULTURAL, EDUCATIONAL AND OUTREACH PROGRAMS

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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 $22,042

Program Service Revenue $0

Investment Income $84,317

Other Revenue $0

TOTAL REVENUE $106,359

Expense Breakdown

Grants Paid $22,000

Salaries & Benefits $0

Fundraising Expenses $313

Program Expenses $28,086

Other Expenses $11,499

TOTAL EXPENSES $33,499

Year-over-Year Comparison

	2024	2023	Change
Revenue	$106,359	$64,172	+0.7%
Expenses	$33,499	$9,214	+2.6%
Net Income	$72,860	$54,958	+0.3%

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

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
VIRGINIA ROSCOE	PRESIDENT	15.00	Officer Director	$0	$0	$0
DR BERNARD CLARK	CO-VP	10.00	Officer Director	$0	$0	$0
KENNEDY HUDNER	CO-VP	10.00	Officer Director	$0	$0	$0
KYLE SCHOFFELMEER	TREASURER	5.00	Officer Director	$0	$0	$0
JANE GRAVES	SECRETARY	5.00	Officer Director	$0	$0	$0
LEN BOYLE	TRUSTEE	5.00	Director	$0	$0	$0
MATT CANDILORO	TRUSTEE	5.00	Director	$0	$0	$0
MATT CAREY	TRUSTEE	5.00	Director	$0	$0	$0
BRIAN DAVIS	TRUSTEE	5.00	Director	$0	$0	$0
KAREN FECKO	TRUSTEE	5.00	Director	$0	$0	$0
PAMELA GAMBAROTTA	TRUSTEE	5.00	Director	$0	$0	$0
MARTHA POOLE	TRUSTEE	5.00	Director	$0	$0	$0
DIANNE HEMLOCK	TRUSTEE	5.00	Director	$0	$0	$0
ZACHARY ROSENSOHN	TRUSTEE	5.00	Director	$0	$0	$0
BOB ZANLUNGO	TRUSTEE	5.00	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
2024	$106,359	$33,499	$1,170,933	$72,860
2023	$64,172	$9,214	$1,098,073	$54,958

WELLES-TURNER MEMORIAL LIBRARY SECOND CE