MIDDLETOWN FREE LIBRARY ASSOCIATIO… - 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

1957

Legal Domicile

Principal Officer

ROBERT FYFE

Phone

6105667828

Tax Period

2024-01-01 to 2024-12-31

MIDDLETOWN FREE LIBRARY ASSOCIATION INC, founded in 1957, is a small nonprofit that reported $542K in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $503K left a modest 7% surplus.

Mission

TO HELP THE PEOPLE OF OUR COMMUNITY ACHIEVE THEIR FULL POTENTIAL THROUGH THE TRANSFORMATIVE POWER OF INFORMATION, IMAGINATION AND IDEAS.

Program Service Accomplishments

Program 1

Expenses: $330,580 Revenue: $7,640

PROGRAMS INCLUDE EARLY CHILDHOOD, FAMILY, AND ADULT LITERACY, TEEN AND ADULT VOLUNTEER SERVICES, ADULT NEURODIVERSE ACTIVITIES, LECTURE SERIES, SUMMER READING AND SCIENCE PROGRAMS, CULTURAL...

PROGRAMS INCLUDE EARLY CHILDHOOD, FAMILY, AND ADULT LITERACY, TEEN AND ADULT VOLUNTEER SERVICES, ADULT NEURODIVERSE ACTIVITIES, LECTURE SERIES, SUMMER READING AND SCIENCE PROGRAMS, CULTURAL PERFORMANCES, AND VARIOUS TECHNOLOGY 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 $417,974

Program Service Revenue $7,640

Investment Income $55,069

Other Revenue $61,530

TOTAL REVENUE $542,213

Expense Breakdown

Grants Paid $0

Salaries & Benefits $316,008

Fundraising Expenses $12,190

Program Expenses $330,580

Other Expenses $186,958

TOTAL EXPENSES $502,966

Year-over-Year Comparison

	2024	2023	Change
Revenue	$542,213	$693,229	-0.2%
Expenses	$502,966	$513,951	0.0%
Net Income	$39,247	$179,278	-0.8%

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

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

$57,560

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT FYFE	PRESIDENT	1.00	Officer Director	$0	$0	$0
PARAG DALAL	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MARK BORDA	TREASURER	1.00	Officer Director	$0	$0	$0
DONALD MELNICK	SECRETARY	1.00	Officer Director	$0	$0	$0
PATRICIA FINEGAN	TRUSTEE	1.00	Director	$0	$0	$0
DAN WASHBURN	TRUSTEE	1.00	Director	$0	$0	$0
PERRY KOTSIOPOULOS	TRUSTEE	1.00	Director	$0	$0	$0
DAVE IRVING	TRUSTEE EMERITUS	0.00	Director	$0	$0	$0
DEREK LLOYD	LIBRARY DIRECTOR	50.00	Officer	$57,560	$0	$57,560

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	$542,213	$502,966	$1,519,792	$39,247
2023	$693,229	$513,951	$1,404,871	$179,278
2022	$1,043,578	$509,182	$1,157,707	$534,396
2021	$1,188,114	$1,087,020	$638,456	$101,094
2020	$622,115	$465,278	$587,836	$156,837
2019	$668,595	$506,740	$371,803	$161,855
2018	$537,846	$475,386	$202,253	$62,460

MIDDLETOWN FREE LIBRARY ASSOCIATION INC