MIDWEST COLLABORATIVE FOR LIBRARY … - 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

1974

Legal Domicile

Principal Officer

SCOTT GARRISON

Phone

5173942420

Tax Period

2024-07-01 to 2025-06-30

MIDWEST COLLABORATIVE FOR LIBRARY SERVICES, founded in 1974, is a mid-sized nonprofit in the Education sector that reported $24.9M in total revenue in fiscal year 2024.

Mission

TO FACILITATE THE SHARING OF INFORMATION RESOURCES AMONG THE LIBRARIES OF MICHIGAN AND INDIANA; ENHANCING THE AVAILABILITY OF INFORMATION RESOURCES TO THE CITIZENS OF MICHIGAN AND INDIANA; ENCOURAGING THE LIBRARIES OF MICHIGAN AND INDIANA TO INSTITUTE SUCH COST-EFFECTIVE PRACTICES AND PROCEDURES AS MAY BE POSSIBLE THROUGH STATEWIDE INTER-LIBRARY COOPERATION; ENABLING THE LIBRARIES OF MICHIGAN AND INDIANA TO CONNECT AND INTERACT WITH REGIONAL AND NATIONAL ELECTRONIC BIBLIOGRAPHICAL COMMUNICATION SYSTEMS.

Program Service Accomplishments

Program 1

Expenses: $23,620,534 Revenue: $23,709,907

PROVIDED AUTOMATED SERVICES (ACCESS TO COMPUTER NETWORKS) AND COOPERATIVE PURCHASING SERVICES WHICH ALLOWED MEMBERS TO OPERATE COST EFFECTIVELY AND OFFER EXPANDED SERVICES TO 639 MEMBERS.

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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 $0

Program Service Revenue $23,709,735

Investment Income $1,192,729

Other Revenue $172

TOTAL REVENUE $24,902,636

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,391,597

Fundraising Expenses $0

Program Expenses $23,620,534

Other Expenses $22,176,733

TOTAL EXPENSES $24,568,330

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,902,636	$25,412,972	0.0%
Expenses	$24,568,330	$25,631,412	0.0%
Net Income	$334,306	$-218,440	-2.5%

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

$173,471

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT GARRISON	EXECUTIVE DIRECTOR	45.00	Officer	$154,828	$18,643	$173,471
BETH MCNEIL	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA MERIDA	DIRECTOR	1.00	Director	$0	$0	$0
JOSH PETRUSA	DIRECTOR	1.00	Director	$0	$0	$0
KENDRA LAKE	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH MARTIN	DIRECTOR (ENDED 07/24/24)	1.00	Director	$0	$0	$0
PAULINA POPLAWSKA	DIRECTOR (ENDED 03/05/25)	1.00	Director	$0	$0	$0
JAKE SPEER	DIRECTOR	1.00	Director	$0	$0	$0
RIMA ZALGHOUT	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN KING	DIRECTOR (ENDED 6/26/25)	1.00	Director	$0	$0	$0
ANN WEST LAPRISE	DIRECTOR	1.00	Director	$0	$0	$0
RANDY RILEY	DIRECTOR	1.00	Director	$0	$0	$0
RAIN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN PATTON	DIRECTOR	1.00	Director	$0	$0	$0
TRISTA SMITH	DIRECTOR	1.00	Director	$0	$0	$0
BRENNA TUITE	SECRETARY	1.00	Officer Director	$0	$0	$0
MIKE HAWTHORNE	TREASURER	1.00	Officer Director	$0	$0	$0
POLLY BORUFF-JONES	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LISA WASKIN	PRESIDENT	1.00	Officer 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
2025	$24,902,636	$24,568,330	$18,980,084	$334,306
2024	$25,412,972	$25,631,412	$17,160,718	$-218,440
2023	$26,726,131	$27,088,714	$16,242,908	$-362,583
2022	$26,325,710	$26,201,211	$17,419,233	$124,499
2021	$26,161,639	$25,780,497	$15,149,263	$381,142
2020	$28,431,158	$28,231,501	$17,213,441	$199,657
2019	$27,697,289	$27,872,973	$15,009,349	$-175,684
2018	$29,114,653	$29,039,257	$14,602,173	$75,396

MIDWEST COLLABORATIVE FOR LIBRARY SERVICES