DULUTH LIBRARY FOUNDATION

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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

1990

Legal Domicile

Principal Officer

ERIN KREEGER

Phone

2187304262

Tax Period

2024-01-01 to 2024-12-31

DULUTH LIBRARY FOUNDATION, founded in 1990, is a small nonprofit in the Education sector that reported $619K in total revenue in fiscal year 2024. Revenue surged 84% from the prior year, signaling strong growth momentum. The organization ran a surplus of $339K, a strong 55% operating margin.

Mission

THE DULUTH LIBRARY FOUNDATION CHAMPIONS THE DULUTH PUBLIC LIBRARY AND WORKS TO INCREASE ITS CAPACITY TO SERVE THE REGION.

Program Service Accomplishments

Program 1

Expenses: $163,895 Revenue: $0

THE DULUTH LIBRARY FOUNDATION STRENGTHENS THE DULUTH PUBLIC LIBRARY THROUGH CHARITABLE CONTRIBUTIONS AND COMMUNITY ENGAGEMENT, EXPANDING ITS CAPACITY TO INSPIRE A LOVE OF LEARNING, FOSTER COMMUNITY CONNECTIONS, AND SUPPORT ECONOMIC OPPORTUNITY IN AN INCLUSIVE AND WELCOMING SPACE. THROUGH FINANCIAL SUPPORT, THE FOUNDATION HELPS THE LIBRARY ADDRESS EMERGING COMMUNITY NEEDS AND SUSTAIN ESSENTIAL SERVICES. BY ENGAGING LIBRARY SUPPORTERS, COMMUNITY LEADERS, AND PARTNER ORGANIZATIONS, THE FOUNDATION BUILDS LASTING SUPPORT THAT BENEFITS BOTH LIBRARY STAFF AND PATRONS.INVESTMENTS FROM DONORS BRIDGE FUNDING GAPS AND ENABLE CRITICAL INITIATIVES THAT WOULD OTHERWISE GO UNFUNDED. IN THE PAST YEAR, THE FOUNDATION CONTRIBUTED $88,472 TO THE DULUTH PUBLIC LIBRARY, SUPPORTING ESSENTIAL PROGRAMS AND SERVICES, INCLUDING YOUTH PROGRAMMING, DIGITAL SERVICES, THE EVALUATION OF THE EVERY CHILD READY DULUTH INITIATIVE, PUBLIC RELATIONS EFFORTS, STAFF DEVELOPMENT, AND OTHER VITAL LIBRARY NEEDS.

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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 $270,400

Program Service Revenue $0

Investment Income $349,605

Other Revenue $-640

TOTAL REVENUE $619,365

Expense Breakdown

Grants Paid $88,472

Salaries & Benefits $123,093

Fundraising Expenses $26,502

Program Expenses $163,895

Other Expenses $68,984

TOTAL EXPENSES $280,549

Year-over-Year Comparison

	2024	2023	Change
Revenue	$619,365	$337,252	+0.8%
Expenses	$280,549	$452,938	-0.4%
Net Income	$338,816	$-115,686	-3.9%

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

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

$77,692

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT ROSENDAHL	PRESIDENT	1.50	Officer Director	$0	$0	$0
JENNIFER BERGES	VICE PRESIDENT	1.50	Officer Director	$0	$0	$0
DOUGLAS BREMER	TREASURER	0.50	Officer Director	$0	$0	$0
DAVID MOELLER	PAST PRESDIENT	0.50	Officer Director	$0	$0	$0
AZRIN AWAL	DIRECTOR	5.00	Director	$0	$0	$0
CRAIG CHILCOTE	DIRECTOR	0.50	Director	$0	$0	$0
LEAH FISHER	DIRECTOR	0.50	Director	$0	$0	$0
GREG FOX	DIRECTOR	0.50	Director	$0	$0	$0
SUSAN GOLTZ	DIRECTOR	0.50	Director	$0	$0	$0
INGRID JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
SHERRY HALL	DIRECTOR (THRU 03/24)	1.00	Director	$0	$0	$0
ANDREW KEENAN	DIRECTOR	0.50	Director	$0	$0	$0
JOHN MAGAS	DIRECTOR	0.50	Director	$0	$0	$0
COLE MAKI	DIRECTOR	0.50	Director	$0	$0	$0
THERESA O'GARA	DIRECTOR	0.80	Director	$0	$0	$0
CARLA POWERS	MEMBER EX OFFICO	1.00	Director	$0	$0	$0
ERIN KREEGER	EXECUTIVE DIRECTOR	40.00	Officer	$77,692	$0	$77,692

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	$619,365	$280,549	$2,535,522	$338,816
2023	$337,252	$452,938	$1,914,280	$-115,686
2022	$417,028	$304,000	$2,033,164	$113,028
2021	$685,085	$340,076	$1,948,980	$345,009
2020	$391,571	$242,960	$1,603,086	$148,611
2019	$410,721	$215,200	$1,482,974	$195,521
2018	$245,292	$174,953	$1,368,783	$70,339