PEOPLES 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

1946

Legal Domicile

Principal Officer

DR MICHAEL REED

Phone

7243391021

Tax Period

2024-01-01 to 2024-12-31

PEOPLES LIBRARY, founded in 1946, is a small nonprofit in the Education sector that reported $356K in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $315K left a modest 11% surplus.

Mission

OPERATION OF A PUBLIC LIBRARY

Program Service Accomplishments

Program 1

Expenses: $243,548

PROGRAM EXPENSES FOR OPERATING A PUBLIC LIRARY BENEFITING THE GENERAL PUBLIC FROM TWO (2) LOCATIONS IN THE SERVICE AREA. LIBRARY PROVIDES A PLACE FOR THE GENERAL PUBLIC TO READ, STUDY AND RESEARCH...

PROGRAM EXPENSES FOR OPERATING A PUBLIC LIRARY BENEFITING THE GENERAL PUBLIC FROM TWO (2) LOCATIONS IN THE SERVICE AREA. LIBRARY PROVIDES A PLACE FOR THE GENERAL PUBLIC TO READ, STUDY AND RESEARCH, AND OFFERS READING AND LITERACY PROGRAMS TO THE RESIDENTS FOR THE LIBRARYS AREA. THE LIBRARY PERFORMS A VARIETY OF TUTORING AND LITERACY PROGRAMS TARGETING THE RESIDENTS OF THE LOCAL SURROUNDING COMMUNITIES DESIGNED TO INCREASE LITERACY AMONG CHILDREN AND INCREASING QUALITY OF DAILY LIFE FUNCTIONS. IN ADDITION, THE LIBRARY FOLDS SUMMER READING AND OTHER LIBRARY PROGRAMS DESIGNED TO INCREASE READING PROFICIENCY AMONG THE YOUTH IN THE SURROUNDING COMMUNITIES.

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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 $223,122

Program Service Revenue $2,583

Investment Income $49,939

Other Revenue $80,098

TOTAL REVENUE $355,742

Expense Breakdown

Grants Paid $0

Salaries & Benefits $196,415

Fundraising Expenses $14,344

Program Expenses $243,548

Other Expenses $118,859

TOTAL EXPENSES $315,274

Year-over-Year Comparison

	2024	2023	Change
Revenue	$355,742	$299,890	+0.2%
Expenses	$315,274	$334,718	-0.1%
Net Income	$40,468	$-34,828	-2.2%

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

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

$74,071

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID HRIVNAK	EXECUTIVE DIRECTOR	40.00	Key Emp	$61,409	$12,662	$74,071
DEBORA DUNCAN	SECRETATY	1.00	Officer Director	$0	$0	$0
DIANE HIGHTOWER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LINDSAY SMART	TREASURER	1.00	Officer Director	$0	$0	$0
DR MICHAEL REED	PRESIDENT	1.00	Officer Director	$0	$0	$0
CHRISTINE CANCRO	BOARD MEMBER	1.00	Director	$0	$0	$0
DESIREE CHRONICK	BOARD MEMBER	1.00	Director	$0	$0	$0
DR MIMI KELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
SUSAN LUTMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
VALARIE MOSES	BOARD MEMBER	1.00	Director	$0	$0	$0
THERESA BONK	BOARD MEMBER	1.00	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
2024	$355,742	$315,274	$2,946,517	$40,468
2023	$299,890	$334,718	$2,902,482	$-34,828
2022	$267,436	$297,010	$2,810,774	$-29,574
2021	$400,477	$289,859	$3,034,630	$110,618
2020	$363,369	$305,317	$2,899,896	$58,052
2019	$307,905	$305,005	$2,782,835	$2,900
2018	$323,554	$307,028	$2,657,276	$16,526