OLIVE FREE LIBRARY ASSOCIATION (EIN 237209065) - 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

1958

Legal Domicile

Phone

8456572482

Tax Period

2024-01-01 to 2024-12-31

OLIVE FREE LIBRARY ASSOCIATION, founded in 1958, is a small nonprofit in the Education sector that reported $339K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $373K exceeded revenue, resulting in a 10% operating deficit.

Mission

PUBLIC LIBRARY FOR THE TOWN OF OLIVE NEW YORK AND SURROUNDING COMMUNITIES

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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 $310,659

Program Service Revenue $19,097

Investment Income $8,634

Other Revenue $475

TOTAL REVENUE $338,865

Expense Breakdown

Grants Paid $0

Salaries & Benefits $217,997

Fundraising Expenses $0

Program Expenses $111,991

Other Expenses $154,931

TOTAL EXPENSES $372,928

Year-over-Year Comparison

	2024	2023	Change
Revenue	$338,865	$361,270	-0.1%
Expenses	$372,928	$361,080	+0.0%
Net Income	$-34,063	$190	-180.3%

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

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

$61,741

Total Directors

$61,741

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Melissa McHugh	Director	40.00	Officer Director	$61,741	$0	$61,741
Margaret Soltis	Trustee	2.00	Director	$0	$0	$0
Susan York	Trustee	2.00	Director	$0	$0	$0
Thomas Hammang	Trustee	2.00	Director	$0	$0	$0
Donna Elberg	Trustee	2.00	Director	$0	$0	$0
Karen Heusel	Trustee	2.00	Director	$0	$0	$0
Fara Warner	Vice President	3.00	Officer	$0	$0	$0
Nathalie Andrews	Treasurer	4.00	Officer	$0	$0	$0
Kimberley Daley	Secretary	2.00	Officer	$0	$0	$0
David Edinger	President	2.00	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	$338,865	$372,928	$623,378	$-34,063
2023	$361,270	$361,080	$658,670	$190
2022	$326,698	$303,554	$654,536	$23,144
2021	$351,304	$272,200	$632,000	$79,104
2020	$237,047	$248,179	$600,738	$-11,132
2019	$338,299	$245,862	$584,183	$92,437
2018	$270,524	$254,198	$475,534	$16,326

OLIVE FREE LIBRARY ASSOCIATION