MORRISON WILEY LIBRARY

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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

1923

Legal Domicile

Principal Officer

STEPHANIE COLGAN

Phone

3097422431

Tax Period

2024-01-01 to 2024-12-31

MORRISON WILEY LIBRARY, founded in 1923, is a small nonprofit in the Education sector that reported $154K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $131K left a modest 15% surplus.

Mission

TO PROVIDE LIBRARY SERVICES TO THE COMMUNITY OF ELMWOOD, ILLINOIS AND THE SURROUNDING AREA

Program Service Accomplishments

Program 1

Expenses: $126,352

TO PROVIDE LIBRARY SERVICES TO THE COMMUNITY OF ELMWOOD, ILLINOIS AND THE SURROUNDING AREA.

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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 $4,055

Program Service Revenue $0

Investment Income $21,867

Other Revenue $127,867

TOTAL REVENUE $153,789

Expense Breakdown

Grants Paid $0

Salaries & Benefits $70,240

Fundraising Expenses $0

Program Expenses $128,152

Other Expenses $60,761

TOTAL EXPENSES $131,001

Year-over-Year Comparison

	2024	2023	Change
Revenue	$153,789	$185,956	-0.2%
Expenses	$131,001	$148,567	-0.1%
Net Income	$22,788	$37,389	-0.4%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHANIE COLGAN	PRESIDENT	0.50	Officer Director	$0	$0	$0
HAROLD JEHLE	TREASURER	0.50	Officer Director	$0	$0	$0
RUSTY KOLL	TRUSTEE	0.30	Director	$0	$0	$0
JANELLE MEYERS	SECRETARY	0.30	Director	$0	$0	$0
PAIM PAIGE	VICE PRESIDE	0.30	Director	$0	$0	$0
DOUG SEELEY	TRUSTEE	0.30	Director	$0	$0	$0
DOUG WHITNEY	TRUSTEE	0.30	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	$153,789	$131,001	$852,225	$22,788
2023	$185,956	$148,567	$827,013	$37,389
2022	$218,497	$139,292	$784,911	$79,205
2021	$130,198	$138,996	$728,485	$-8,798
2020	$138,645	$135,398	$737,282	$3,247
2019	$128,949	$131,501	$734,035	$-2,552