THE HERITAGE PUBLIC LIBRARY (EIN 251048764) - Form 990 Financial Analysis & Trantor Score

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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

1978

Legal Domicile

Principal Officer

KATHLEEN FARNER

Phone

7243567812

Tax Period

2024-01-01 to 2024-12-31

THE HERITAGE PUBLIC LIBRARY, founded in 1978, is a small nonprofit in the Education sector that reported $139K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $158K exceeded revenue, resulting in a 13% operating deficit.

Mission

PROVIDING A FREE PUBLIC LIBRARY TO RESIDENTS OF FOUR (4) MUNICIPLAITIES IN WASHINGTON COUNTY. TO ENCOURAGE READING BY MORE RESIDENTS, AND TO PROVIDE REFERENCE SERVICES AND OTHER

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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 $124,561

Program Service Revenue $3,734

Investment Income $2,702

Other Revenue $8,273

TOTAL REVENUE $139,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $83,929

Fundraising Expenses $4,946

Program Expenses $129,786

Other Expenses $73,148

TOTAL EXPENSES $157,507

Year-over-Year Comparison

	2024	2023	Change
Revenue	$139,270	$182,257	-0.2%
Expenses	$157,507	$142,350	+0.1%
Net Income	$-18,237	$39,907	-1.5%

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

Total Directors

$38,094

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICOLE SARCHET	LIBRARY DIRE	30.00	Director	$38,094	$0	$38,094
KATHLEEN FARNER	PRESIDENT	10.00	Officer Director	$0	$0	$0
CINDY HUGHES	SECRETARY	1.00	Officer Director	$0	$0	$0
MARY SKOFF	TREASURER	1.00	Officer Director	$0	$0	$0
LYNETTE TALPAS	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	$139,270	$157,507	$191,872	$-18,237
2023	$182,257	$142,350	$227,742	$39,907

THE HERITAGE PUBLIC LIBRARY