ANDREW CARNEGIE FREE LIBRARY

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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

MARGARET FORBES

Tax Period

2023-01-01 to 2023-12-31

ANDREW CARNEGIE FREE LIBRARY, founded in 1901, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $1.0M left a modest 5% surplus.

Mission

OPERATION OF PUBLIC LIBRARY AND MUSIC HALL

Program Service Accomplishments

Program 1

Expenses: $531,049

LIBRARY SERVICES - LENDS BOOKS, CDS, DVDS AND OTHER MATERIAL TO THE GENERAL PULIC. PROVIDES COMPUTER SERVICES, COPYING AND FAXING CAPABILITIES TO THE GENERAL PUBLIC. PROVIDES AN HISTORIC FACILITY FOR READING AND RESEARCH, AND PROFESSIONAL ASSISTANCE WITH REFERENCE AND RESEARCH QUESTIONS. OFFERS A VARIETY OF CHILDRENS AND ADULT PROGRAMMING TO THE GENERAL PUBLIC AND PARTNERS WITH OTHER NON-PROFITS, ARTISTS, AND BUSINESSES TO PROVIDE THE SAME.

Program 2

Expenses: $258,376

MUSIC HALL - PROVIDES AN ACOUSTICALLY EXCELLENT PERFORMANCE VENUE TO A WIDE VARIETY OF PERFORMING ARTS GROUPS. PERFORMANCES RANGING FROM FULLY STAGED MOZART OPERAS TO BELLY DANCE PERFORMANCES...

MUSIC HALL - PROVIDES AN ACOUSTICALLY EXCELLENT PERFORMANCE VENUE TO A WIDE VARIETY OF PERFORMING ARTS GROUPS. PERFORMANCES RANGING FROM FULLY STAGED MOZART OPERAS TO BELLY DANCE PERFORMANCES. PRESENTS AND PRODUCES ITS OWN PERFORMANCES, AND HOSTS COMMUNITY AND CIVIC PROGRAMMING AS A PUBLIC SERVICE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $866,857

Program Service Revenue $108,019

Investment Income $35,674

Other Revenue $76,039

TOTAL REVENUE $1,086,589

Expense Breakdown

Grants Paid $0

Salaries & Benefits $401,967

Fundraising Expenses $46,676

Program Expenses $789,425

Other Expenses $629,709

TOTAL EXPENSES $1,031,676

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,086,589	$1,592,212	-0.3%
Expenses	$1,031,676	$952,688	+0.1%
Net Income	$54,913	$639,524	-0.9%

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

$69,963

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARGARET FORBES	EXECUTIVE DIRECTOR	40.00	Officer	$69,963	$0	$69,963
ALEX POPICHAK	TRUSTEE	1.00	Director	$0	$0	$0
PHIL BOYD	EX-OFFICIO	1.00	Director	$0	$0	$0
REMA ABDIN	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD DLOSS	EX-OFFICIO	1.00	Director	$0	$0	$0
DON ALEXANDER	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER GREEN	TRUSTEE	1.00	Director	$0	$0	$0
TOM DIPIETRO	EX-OFFICIO	1.00	Director	$0	$0	$0
VASHISHTA BHASKAR	VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
RACHEL ENCK	SECRETARY	2.00	Officer Director	$0	$0	$0
JOAN MASSELLA	PRESIDENT	2.00	Officer Director	$0	$0	$0
MICHAEL J HATCHER	TREASURER	2.00	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
2024	No data	No data	No data	No data
2023	$1,086,589	$1,031,676	$8,031,736	$54,913
2022	$1,592,212	$952,688	$8,090,741	$639,524
2021	$1,423,432	$862,328	$7,732,037	$561,104
2020	$743,895	$832,299	$6,815,112	$-88,404
2019	$868,203	$861,818	$6,765,892	$6,385
2018	$1,481,808	$812,787	$6,843,965	$669,021