Galesburg Public Library Foundation (EIN 320233242) - 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

2009

Legal Domicile

Phone

3093436118

Tax Period

2024-01-01 to 2024-12-31

Galesburg Public Library Foundation, founded in 2009, is a small nonprofit in the Education sector that reported $868K in total revenue in fiscal year 2024. Net assets of $3.8M represent 53 months of operating reserves.

Mission

To Enhance Library Resources and Services

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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 $779,891

Program Service Revenue $0

Investment Income $88,355

Other Revenue $0

TOTAL REVENUE $868,246

Expense Breakdown

Grants Paid $0

Salaries & Benefits $40,453

Fundraising Expenses $10,325

Program Expenses $801,028

Other Expenses $873,472

TOTAL EXPENSES $913,925

Year-over-Year Comparison

	2024	2023	Change
Revenue	$868,246	$857,296	+0.0%
Expenses	$913,925	$833,293	+0.1%
Net Income	$-45,679	$24,003	-2.9%

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

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

$36,700

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
Heather Sipes	Executive Director	Officer	$36,700	$0	$36,700
Sue Lyon	Trustee	Director	$0	$0	$0
Leann Morgan	Trustee	Director	$0	$0	$0
Mark Stegall	Trustee	Director	$0	$0	$0
Kirk Watson	Trustee	Director	$0	$0	$0
Naomi Law	Trustee	Director	$0	$0	$0
Abby Colvin	Trustee	Director	$0	$0	$0
Semenya McCord	Trustee	Director	$0	$0	$0
Sue Dutell	Trustee	Director	$0	$0	$0
Steve Bailey	Vice President	Officer Director	$0	$0	$0
Stuart Allison	President	Officer Director	$0	$0	$0
Michelle Kroll	Secretary	Officer Director	$0	$0	$0
Martin Reichel	Treasurer	Officer 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	$868,246	$913,925	$3,839,972	$-45,679
2023	$857,296	$833,293	$3,722,339	$24,003
2022	$1,452,495	$2,726,577	$3,521,615	$-1,274,082
2021	$748,769	$247,926	$8,330,164	$500,843
2020	$243,239	$199,899	$7,614,755	$43,340

Galesburg Public Library Foundation