SPALDING MEMORIAL LIBRARY BUILDING… - 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

1901

Legal Domicile

Principal Officer

KATIE JONES

Phone

5708887117

Tax Period

2024-01-01 to 2024-12-31

SPALDING MEMORIAL LIBRARY BUILDING ASSOCIATION, founded in 1901, is a small nonprofit that reported $213K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $345K exceeded revenue, resulting in a 62% operating deficit.

Mission

THE SPALDING MEMORIAL LIBRARY BUILDING ASSOCIATION IS A NON-PROFIT ORGANIZATION WHOSE GOAL IS TO PROVIDE THE SERVICE OF LENDING BOOKS AND OTHER INFORMATION AVAILABLE TO THE GENERAL PUBLIC FREE OF CHARGE.

Program Service Accomplishments

Program 1

Expenses: $309,538

THE SPALDING MEMORIAL LIBRARY BUILDING ASSOCIATION PROVIDES THE SERVICE OF LENDING BOOKS AND OTHER INFORMATION AVAILABLE TO THE GENERAL PUBLIC FREE OF CHARGE. SERVICE REVENUES ARE GENERATED IF THE...

THE SPALDING MEMORIAL LIBRARY BUILDING ASSOCIATION PROVIDES THE SERVICE OF LENDING BOOKS AND OTHER INFORMATION AVAILABLE TO THE GENERAL PUBLIC FREE OF CHARGE. SERVICE REVENUES ARE GENERATED IF THE MATERIALS ARE NOT RETURNED OR RENEWED ON TIME, THE FORM OF FINES, A SMALL FEE IS CHARGED FOR ANY COPIES THAT ARE MADE USING LIBRARY RESOURCES, AND THERE ARE A FEW OTHER AMOUNTS THAT ARE CLASSIFIED AS SERVICE REVENUES THAT ARE VERY MINIMAL. THE TOTAL AMOUNT OF FINES DURING 2022 AMOUNTED TO 1,812 AND THE REVENUE RECEIVED FROM COPIES WAS 895.

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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 $122,177

Program Service Revenue $9,764

Investment Income $81,045

Other Revenue $0

TOTAL REVENUE $212,986

Expense Breakdown

Grants Paid $0

Salaries & Benefits $206,294

Fundraising Expenses $1,673

Program Expenses $309,538

Other Expenses $139,005

TOTAL EXPENSES $345,299

Year-over-Year Comparison

	2024	2023	Change
Revenue	$212,986	$188,165	+0.1%
Expenses	$345,299	$312,994	+0.1%
Net Income	$-132,313	$-124,829	+0.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD BABCOCK	TRUSTEE	N/A	Director	$0	$0	$0
BART CALLEAR	TRUSTEE	N/A	Director	$0	$0	$0
BRUCE CARPENTER	TRUSTEE	N/A	Director	$0	$0	$0
KELLY FRIEND	TRUSTEE	N/A	Director	$0	$0	$0
LISA GRAZUL	TRUSTEE	N/A	Director	$0	$0	$0
TIFFANY ROBBINS	DIRECTOR	N/A	Director	$0	$0	$0
SHIRLEY BLAKEMAN	SECRETARY	N/A	Officer	$0	$0	$0
KATIE JONES	PRESIDENT	N/A	Officer	$0	$0	$0
LORI PRUYNE	VICE PRESIDE	N/A	Officer	$0	$0	$0
NINA SEEBECK	TREASURER	N/A	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	$212,986	$345,299	$3,797,132	$-132,313
2023	$188,165	$312,994	$3,661,444	$-124,829
2022	$272,348	$297,562	$3,449,437	$-25,214
2021	$308,111	$282,025	$4,093,473	$26,086
2020	$396,156	$263,457	$3,920,843	$132,699
2019	$250,022	$248,878	$3,522,451	$1,144
2018	$240,880	$247,301	$3,170,270	$-6,421

SPALDING MEMORIAL LIBRARY BUILDING ASSOCIATION