MILLSBORO PUBLIC LIBRARY INC

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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

1973

Legal Domicile

Principal Officer

Tamara Toomey

Phone

3029348743

Tax Period

2023-07-01 to 2024-06-30

MILLSBORO PUBLIC LIBRARY INC, founded in 1973, is a small nonprofit in the Education sector that reported $353K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $331K left a modest 6% surplus.

Mission

THE MILLSBORO PUBLIC LIBRARY PROVIDES FREE ACCESS TO INFORMATION AND MATERIALS TO THE RESIDENTS OF SUSSEX COUNTY, DELAWARE

Program Service Accomplishments

Program 1

Expenses: $138,428 Revenue: $138,428

WAGES PAID TO EMPLOYEES

Program 2

Expenses: $88,167 Revenue: $88,167

UTILITIES, MAINTENANCE, CONTRACTED SERVICES,OTHER MISCELLANEOUS EXPENSES

Program 3

Expenses: $45,549 Revenue: $45,549

BOOKS, DVDS, VIDEOS & PERIODICALS FOR ACCESS TO RESIDENTS OF SUSSEX COUNTY, DELAWARE

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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 $347,078

Program Service Revenue $6,109

Investment Income $22

Other Revenue $0

TOTAL REVENUE $353,209

Expense Breakdown

Grants Paid $0

Salaries & Benefits $193,967

Fundraising Expenses $0

Program Expenses $272,144

Other Expenses $137,222

TOTAL EXPENSES $331,189

Year-over-Year Comparison

	2023	2022	Change
Revenue	$353,209	$325,800	+0.1%
Expenses	$331,189	$329,113	+0.0%
Net Income	$22,020	$-3,313	-7.6%

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAMARA TOOMEY	PRESIDENT	10.00	Officer	$0	$0	$0
DARWIN HALL	VICE PRESIDENT	2.00		$0	$0	$0
W RYAN PUSEY	TREASURER	1.00	Officer	$0	$0	$0
LISA WHARTON	MEMBER	1.00	Director	$0	$0	$0
BEVERLY MITCHELL	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
2025	No data	No data	No data	No data
2024	$353,209	$331,189	$336,172	$22,020
2019	$282,626	$262,448	$534,620	$20,178
2018	$316,554	$290,628	$514,337	$25,926