IOWA MASONIC LIBRARY ASSOCIATION (EIN 421334638) - 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

1924

Legal Domicile

Principal Officer

CRAIG DAVIS

Phone

3193651438

Tax Period

2023-09-01 to 2024-08-31

IOWA MASONIC LIBRARY ASSOCIATION, founded in 1924, is a micro nonprofit that reported $47K in total revenue in fiscal year 2023. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $95K exceeded revenue, resulting in a 100% operating deficit.

Mission

MAINTAIN MASONIC LIBRARY AND LIBRARY SERVICES FOR GRAND LODGE MEMBERS AND THE GENERAL PUBLIC

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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 $14,165

Program Service Revenue $0

Investment Income $33,197

Other Revenue $0

TOTAL REVENUE $47,362

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $94,533

Other Expenses $94,533

TOTAL EXPENSES $94,533

Year-over-Year Comparison

	2023	2022	Change
Revenue	$47,362	$129,515	-0.6%
Expenses	$94,533	$138,865	-0.3%
Net Income	$-47,171	$-9,350	+4.0%

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

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
RICHARD L BOWERSOX	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN M KLAUS	PRESIDENT	1.00	Officer Director	$0	$0	$0
DENNIS M ZAHRT	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG L DAVIS	SECRETARY	1.00	Officer Director	$0	$0	$0
ERIC A ROZEBOOM	DIRECTOR	1.00	Director	$0	$0	$0
ART CRANDON	DIRECTOR	1.00	Director	$0	$0	$0
BILL PAISLEY	DIRECTOR	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
2024	$47,362	$94,533	$1,496,496	$-47,171
2023	$129,515	$138,865	$1,362,655	$-9,350
2022	$419,791	$67,977	$1,312,866	$351,814
2021	$25,059	$9,500	$1,113,017	$15,559
2019	$95,445	$56,528	$909,772	$38,917
2018	$24,162	$64,873	$764,267	$-40,711

IOWA MASONIC LIBRARY ASSOCIATION