FRIENDS OF THE LARCHMONT PUBLIC LI… - 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

1972

Legal Domicile

Principal Officer

RACHEL HAZEN

Phone

9148342281

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF THE LARCHMONT PUBLIC LIBRARY INC, founded in 1972, is a small nonprofit that reported $406K in total revenue in fiscal year 2024. Revenue surged 441% from the prior year, signaling strong growth momentum. The organization ran a surplus of $261K, a strong 64% operating margin.

Mission

THE ORGANIZATION PROVIDE FINANCIAL SUPPORT TO LARCHMONT PUBLIC LIBRARY FOR EQUIPMENT, SERVICES AND PROGRAM NOT COVERED BY FUNDING FROM THE VILLAGE AND TOWN.

Program Service Accomplishments

Program 1

Expenses: $142,491 Revenue: $405,544

E-MEDIA APPLICATION, EQUIPMENTS, MAGZINE SUBCRIPTIONS AND OTHER PROGRAM NOT FUNDED BY VILLAGE TAX

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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 $399,073

Program Service Revenue $0

Investment Income $4,671

Other Revenue $1,800

TOTAL REVENUE $405,544

Expense Breakdown

Grants Paid $123,318

Salaries & Benefits $0

Fundraising Expenses $682

Program Expenses $142,491

Other Expenses $21,287

TOTAL EXPENSES $144,605

Year-over-Year Comparison

	2024	2023	Change
Revenue	$405,544	$74,985	+4.4%
Expenses	$144,605	$79,258	+0.8%
Net Income	$260,939	$-4,273	-62.1%

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

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
RACHEL HAZEN	PRESIDENT	4.00	Director	$0	$0	$0
LEIGH MARCHANT	EXECUTIVE VP	2.00	Director	$0	$0	$0
SEDONA GASPARD	VP-MEMBERSHIP	2.00	Director	$0	$0	$0
JACLYN PARE	VP-PROGRAMMING	3.00	Director	$0	$0	$0
MICHAEL BLOOM	TREASURER	4.00	Director	$0	$0	$0
RONALD MEISTER	SECRETARY	2.00	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	$405,544	$144,605	$405,432	$260,939

FRIENDS OF THE LARCHMONT PUBLIC LIBRARY INC