SLOVER LIBRARY FOUNDATION

EIN: 263772819 501(c)(3) Education

NORFOLK, VA

Total Revenue
$342,172
Total Expenses
$679,074
Total Assets
$12,220,120
Net Assets
$12,220,120
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
VA
Principal Officer
PAUL D FRAIM
Phone
7576644320
Tax Period
2024-07-01 to 2025-06-30

SLOVER LIBRARY FOUNDATION, founded in 2008, is a small nonprofit in the Education sector that reported $791K in total revenue in fiscal year 2017. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $144K, a strong 18% operating margin.

Mission

SUPPORT FOR A CENTRAL LIBRARY FOR THE CITY OF NORFOLK.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $118,682
Program Service Revenue $0
Investment Income $223,490
Other Revenue $0
TOTAL REVENUE $342,172

Expense Breakdown

Grants Paid $0
Salaries & Benefits $241,136
Fundraising Expenses $0
Program Expenses $533,877
Other Expenses $437,938
TOTAL EXPENSES $679,074

Year-over-Year Comparison

2024 2023 Change
Revenue $342,172 $291,505 +0.2%
Expenses $679,074 $433,888 +0.6%
Net Income $-336,902 $-142,383 +1.4%
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

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Governance

Voting Members
16
Independent Members
15
Employees
2
Volunteers
N/A

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
3
$153,000
Total Directors
16
$153,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL D FRAIM CHAIRMAN & PRESIDENT 40.00
Officer Director
$153,000 $0 $153,000
BLYTHE A SCOTT DIRECTOR 5.00
Director
$0 $0 $0
VINCENT J MASTRACCO JR SECRETARY & TREASURER 5.00
Officer Director
$0 $0 $0
YVONNE T ALLMOND DIRECTOR 0.50
Director
$0 $0 $0
JANE P BATTEN DIRECTOR 0.50
Director
$0 $0 $0
FRANK BATTEN JR DIRECTOR 0.50
Director
$0 $0 $0
JORDAN E SLONE DIRECTOR 0.50
Director
$0 $0 $0
WAYNE WILBANKS VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
DAVID L BERND DIRECTOR 0.50
Director
$0 $0 $0
DEBORAH BUTLER PAINTER DIRECTOR 0.50
Director
$0 $0 $0
FRANK T GADAMS DIRECTOR 0.50
Director
$0 $0 $0
CONRAD M HALL DIRECTOR 0.50
Director
$0 $0 $0
LISA F CHANDLER DIRECTOR 0.50
Director
$0 $0 $0
REV HAROLD J COBB DIRECTOR 0.50
Director
$0 $0 $0
AMANDA TURNER CHENEY DIRECTOR 0.50
Director
$0 $0 $0
RICHARD F BARRY III DIRECTOR 0.50
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 $342,172 $679,074 $12,220,120 $-336,902
2024 No data No data No data No data
2023 $28,481 $505,727 $10,476,167 $-477,246
2022 $614,841 $548,417 $9,941,575 $66,424
2021 $2,154,646 $450,527 $11,008,810 $1,704,119
2020 $660,719 $735,957 $9,043,797 $-75,238
2019 $510,054 $689,970 $9,069,006 $-179,916
2018 $790,968 $647,356 $8,892,931 $143,612
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