Lafayette Library and Learning Cen… - 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

2007

Legal Domicile

Principal Officer

Karen Evans

Phone

9252836513

Tax Period

2024-07-01 to 2025-06-30

Lafayette Library and Learning Center Foundation, founded in 2007, is a community nonprofit in the Education sector that reported $3.4M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 46% operating margin.

Mission

The Lafayette Library and Learning Center Foundation raises funds for valuable library resources, offers engaging programming, and fosters community building to amplify the Lafayette Library and Learning Center's visibility, reach, and impact.

Program Service Accomplishments

Program 1

Expenses: $1,338,299 Revenue: $250,075

The Lafayette Library and Learning Center Foundation is the primary source of funding for the Lafayette Library and Learning Center. Funded exclusively by private donations from individuals...

The Lafayette Library and Learning Center Foundation is the primary source of funding for the Lafayette Library and Learning Center. Funded exclusively by private donations from individuals, foundations and businesses/corporations, as well as earned income, the Foundation provides funding for the City of Lafayette for all of the library building's operations. The Foundation's sources of earned income are public programs offered annually, as well as rental of spaces throughout the Library and Learning Center's building. The Foundation also operates its own programs in response to community needs and interests, including series focused on authors; health, wellness and aging; Culinary Arts and Sciences; and Civic Conversations. These public programs help to animate the lifelong learning of all audience members while also funding the Library and Learning Center.

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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 $585,482

Program Service Revenue $280,075

Investment Income $2,519,432

Other Revenue $-11,903

TOTAL REVENUE $3,373,086

Expense Breakdown

Grants Paid $0

Salaries & Benefits $436,111

Fundraising Expenses $199,754

Program Expenses $1,338,299

Other Expenses $1,379,590

TOTAL EXPENSES $1,815,701

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,373,086	$2,794,960	+0.2%
Expenses	$1,815,701	$1,634,994	+0.1%
Net Income	$1,557,385	$1,159,966	+0.3%

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

$140,516

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Carol Varney	Executive Dir.	40.00	Officer	$131,315	$9,201	$140,516
Karen Evans	Chair	4.00	Officer Director	$0	$0	$0
Laney Whitcanack	Vice Chair	2.00	Officer Director	$0	$0	$0
Lisa Spiegler	Past Chair	2.00	Officer Director	$0	$0	$0
Rita Iorfida	Treasuer	2.00	Officer Director	$0	$0	$0
Judy Kirkpatrick	Secretary	2.00	Officer Director	$0	$0	$0
Mike Roumbanis	Trustee	2.00	Director	$0	$0	$0
Jennifer George Birdseye	Trustee	2.00	Director	$0	$0	$0
Steven Bliss	Director	2.00	Director	$0	$0	$0
Adenna Davis	Trustee	2.00	Director	$0	$0	$0
Adam Lyon	Director	2.00	Director	$0	$0	$0
Rupy Krishnan	Trustee	2.00	Director	$0	$0	$0
Meghvi Roig	Trustee	2.00	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	$3,373,086	$1,815,701	$31,543,398	$1,557,385
2024	No data	No data	No data	No data
2023	$3,011,050	$1,831,650	$27,136,209	$1,179,400
2022	$2,565,872	$1,258,123	$24,906,214	$1,307,749
2021	$2,073,300	$1,570,165	$28,882,741	$503,135
2020	$1,516,041	$1,369,876	$23,525,858	$146,165
2019	$2,143,113	$1,299,900	$24,337,932	$843,213
2018	$1,731,588	$1,153,382	$23,230,412	$578,206

Lafayette Library and Learning Center Foundation