LIBRARY OF MICHIGAN FOUNDATION (EIN 382611742) - 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

1985

Legal Domicile

Principal Officer

BRIAN HARE

Phone

5173731297

Tax Period

2023-10-01 to 2024-09-30

LIBRARY OF MICHIGAN FOUNDATION, founded in 1985, is a small nonprofit in the Education sector that reported $213K in total revenue in fiscal year 2023. Net assets of $2.7M represent 152 months of operating reserves.

Mission

TO SUPPORT SPECIAL LIBRARY PROGRAMS AND SERVICES TO THE STATE OF MICHIGAN AND ITS RESIDENTS.

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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 $125,238

Program Service Revenue $0

Investment Income $87,647

Other Revenue $0

TOTAL REVENUE $212,885

Expense Breakdown

Grants Paid $5,000

Salaries & Benefits $91,042

Fundraising Expenses $0

Program Expenses $106,239

Other Expenses $112,813

TOTAL EXPENSES $208,855

Year-over-Year Comparison

	2023	2022	Change
Revenue	$212,885	$203,483	+0.0%
Expenses	$208,855	$314,198	-0.3%
Net Income	$4,030	$-110,715	-1.0%

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

N/A

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

$99,591

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICIA HEADLEY	EXECUTIVE DIRECTOR/CHIEF DEVELOPMENT	24.00	Officer	$99,591	$0	$99,591
ROGER MENDEL	DIRECTOR	1.00	Director	$0	$0	$0
LISA FARNUM	DIRECTOR	1.00	Director	$0	$0	$0
DONNA LASINSKI	DIRECTOR	1.00	Director	$0	$0	$0
KRISTIE REYNOLDS	DIRECTOR	1.00	Director	$0	$0	$0
ANNE SEURYNCK	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE CHROME	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE UTTER	DIRECTOR	1.00	Director	$0	$0	$0
ANNE E HARCUS	SECRETARY	1.00	Officer Director	$0	$0	$0
NICOLE DILTS	TREASURER	1.00	Officer Director	$0	$0	$0
KATHY IRWIN	VICE CHAIRPERSON	1.00	Officer Director	$0	$0	$0
BRIAN A HARE CPA	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
DAN ARBOUR	PAST CHAIRPERSON	1.00	Officer Director	$0	$0	$0
RANDY RILEY	STATE LIBRARIAN	1.00	Officer	$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	$212,885	$208,855	$2,694,995	$4,030
2023	$203,483	$314,198	$2,233,347	$-110,715
2022	$276,103	$321,179	$2,117,434	$-45,076
2021	$433,871	$249,247	$2,762,556	$184,624
2020	$286,538	$220,945	$2,272,017	$65,593
2019	$207,796	$197,960	$2,169,092	$9,836
2018	$179,590	$325,952	$2,164,532	$-146,362

LIBRARY OF MICHIGAN FOUNDATION