MEMORIAL LIBRARY OF NAZARETH & VIC… - 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

1950

Legal Domicile

Principal Officer

HOLLY BENNETT

Phone

6107594932

Tax Period

2024-01-01 to 2024-12-31

MEMORIAL LIBRARY OF NAZARETH & VICINITY, founded in 1950, is a small nonprofit in the Education sector that reported $940K in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $252K, a strong 27% operating margin.

Mission

TO INSPIRE AND ENRICH THE LIVES OF THE RESIDENTS IN OUR SUPPORTING MUNICIPALITIES BY OFFERING VALUABLE LIFETIME LITERACIES AND A COMMUNITY OF CENTRIC SERVICE APPROACH.

Program Service Accomplishments

Program 1

Expenses: $472,020 Revenue: $5,343

THE PRIMARY PURPOSE OF THE LIBRARY IS TO MAINTAIN A FREE PUBLIC LIBRARY IN THE BOROUGH OF NAZARETH, NORTHAMPTON COUNTY, PENNSYLVANIA. THE VISION: "THE LIBRARY WILL BE THE COMMUNITY CENTER OF THE...

THE PRIMARY PURPOSE OF THE LIBRARY IS TO MAINTAIN A FREE PUBLIC LIBRARY IN THE BOROUGH OF NAZARETH, NORTHAMPTON COUNTY, PENNSYLVANIA. THE VISION: "THE LIBRARY WILL BE THE COMMUNITY CENTER OF THE MUNICIPALITIES WE SERVE, WHERE MEMBERS OF THE COMMUNITY SHARE EXPERIENCES, INFORMATION AND CULTIVATE RELATIONSHIPS" IS AN EXAMPLE OF ASPIRATIONAL THINKING ABOUT THE FUTURE AND NOT AN OVER-INFLATED VIEW OF THE LIBRARY. THE VISION IS BASED ON THE PROCESS OF MAKING A PERSONAL CONNECTION WITH PEOPLE THROUGH CONNECTING, DISCOVERING, EDUCATING AND RESPONDING TO THEIR NEEDS. THE LIBRARY IS COMMITTED TO PROVIDING OUTSTANDING SERVICE TO ALL PATRONS IN A COURTEOUS AND CONFIDENTIAL MANNER. THE LIBRARY PROMOTES THE LOVE OF BOOKS AND THE IMPORTANCE OF READING. THE LIBRARY VALUES READING AND INFORMATION LITERACY FOR THE KNOWLEDGE, POWER, AND RECREATION THEY BRING. IT RECOGNIZED THAT READING AND INFORMATION LITERACY PROVIDE A FOUNDATION FOR LIFELONG LEARNING, OPENING DOORS, AND EXPANDING HORIZONS. THE LIBRARY IS COMMITTED TO INTELLECTUAL FREEDOM AND TO PROVIDING CONVENIENT, EQUITABLE AND OPEN ACCESS TO THE RESOURCES AND SERVICES IT PROVIDES. THE LIBRARY EXTENDS ITS REACH AND IMPACT IN THE COMMUNITY THROUGH PARTNERSHIPS WITH INDIVIDUALS, PUBLIC AND NON-PROFIT ORGANIZATIONS, COMMUNITY GROUPS, EDUCATORS, AND BUSINESSES.

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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 $861,865

Program Service Revenue $0

Investment Income $45,546

Other Revenue $33,025

TOTAL REVENUE $940,436

Expense Breakdown

Grants Paid $0

Salaries & Benefits $406,768

Fundraising Expenses $51,910

Program Expenses $472,020

Other Expenses $281,731

TOTAL EXPENSES $688,499

Year-over-Year Comparison

	2024	2023	Change
Revenue	$940,436	$772,655	+0.2%
Expenses	$688,499	$661,073	+0.0%
Net Income	$251,937	$111,582	+1.3%

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

$86,285

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOLLY BENNETT	EXECUTIVE DIRECTOR	40.00	Officer	$71,539	$14,746	$86,285
CHRISTOPHER CROOK	PRESIDENT	0.00	Officer Director	$0	$0	$0
NATE GOLUB	VICE PRESIDENT	0.00	Officer Director	$0	$0	$0
LEONARD FODERA	TREASURER	0.00	Officer Director	$0	$0	$0
BECKY BARTLETT	SECRETARY	0.00	Officer Director	$0	$0	$0
JARRED BEDOYA	BOARD MEMBER	0.00	Director	$0	$0	$0
JULIE BENDER	BOARD MEMBER	0.00	Director	$0	$0	$0
CINDY CORPORA	BOARD MEMBER	0.00	Director	$0	$0	$0
EVAN DAVIS	BOARD MEMBER	0.00	Director	$0	$0	$0
KEITH MCKEON	BOARD MEMBER	0.00	Director	$0	$0	$0
DAVENE PERRUSO	BOARD MEMBER	0.00	Director	$0	$0	$0
MARY REICHEL-KNECHT	BOARD MEMBER	0.00	Director	$0	$0	$0
NANCY TEAGUE	BOARD MEMBER	0.00	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
2025	No data	No data	No data	No data
2024	$940,436	$688,499	$1,163,755	$251,937
2023	$772,655	$661,073	$899,633	$111,582
2022	$714,688	$756,317	$750,040	$-41,629
2021	$634,090	$594,557	$902,252	$39,533
2020	$539,149	$501,133	$891,105	$38,016
2019	$646,124	$648,734	$790,771	$-2,610
2018	$735,022	$552,389	$791,532	$182,633

MEMORIAL LIBRARY OF NAZARETH & VICINITY