NORFOLK LIBRARY ASSOCIATION

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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

1971

Legal Domicile

Principal Officer

SUSAN WARNEKE

Phone

4023718928

Tax Period

2024-01-01 to 2024-12-31

NORFOLK LIBRARY ASSOCIATION, founded in 1971, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $653K in total revenue in fiscal year 2024. Revenue surged 812% from the prior year, signaling strong growth momentum. The organization ran a surplus of $627K, a strong 96% operating margin.

Mission

PROVIDE LITERATURE FOR THE PUBLIC

Program Service Accomplishments

Program 1

Expenses: $25,815 Revenue: $653,058

THE NORFOLK LIBRARY FOUNDATION PROVIDES LITERATURE FOR THE PUBLIC. IT CAN BE FOR THE FURTHERANCE OF EDUCATION OR THE ENTERTAINMENT OF THE GENERAL PUBLIC. IT ALSO PURCHASES SUPPLIES AND BOOKS FOR THE...

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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 $531,326

Program Service Revenue $0

Investment Income $121,732

Other Revenue $0

TOTAL REVENUE $653,058

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $25,815

Other Expenses $25,815

TOTAL EXPENSES $25,815

Year-over-Year Comparison

	2024	2023	Change
Revenue	$653,058	$71,585	+8.1%
Expenses	$25,815	$20,353	+0.3%
Net Income	$627,243	$51,232	+11.2%

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

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
SUSAN WARNEKE	PRESIDENT	0.50	Officer Director	$0	$0	$0
TOM DOVER JR	VICE PRESIDE	0.50	Officer Director	$0	$0	$0
LYNN HANS	SECRETARY	0.50	Officer Director	$0	$0	$0
GINA LINDSAY	TREASURER	0.50	Officer Director	$0	$0	$0
JESSICA CHAMBERLAIN	DIRECTOR	0.50	Director	$0	$0	$0
JERRY GUENTHER	DIRECTOR	0.50	Director	$0	$0	$0
MARK HALL	DIRECTOR	0.50	Director	$0	$0	$0
DON POLODNA	DIRECTOR	0.50	Director	$0	$0	$0
SUE BURNS	DIRECTOR	0.50	Director	$0	$0	$0
DEBBIE DEMING	DIRECTOR	0.50	Director	$0	$0	$0
SHERRY JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
WHITNEY SUNDERMAN	DIRECTOR	0.50	Director	$0	$0	$0
JAZMIN GOEDEN	DIRECTOR	0.50	Director	$0	$0	$0
MELISSA FIGUEROA	DIRECTOR	0.50	Director	$0	$0	$0
RUT GONZALEZ	DIRECTOR	0.50	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	$653,058	$25,815	$1,637,548	$627,243
2023	$71,585	$20,353	$1,010,305	$51,232
2022	$49,134	$15,097	$959,073	$34,037
2021	$122,621	$25,724	$925,036	$96,897
2020	$57,487	$5,172	$828,139	$52,315
2019	$41,272	$14,562	$775,824	$26,710
2018	$34,782	$34,808	$749,114	$-26