LAKE CITY 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

1999

Legal Domicile

Principal Officer

PETER FARLEY

Phone

7124648756

Tax Period

2024-01-01 to 2024-12-31

LAKE CITY LIBRARY FOUNDATION, founded in 1999, is a small nonprofit in the Education sector that reported $593K in total revenue in fiscal year 2024. Revenue surged 472% from the prior year, signaling strong growth momentum. The organization ran a surplus of $593K, a strong 100% operating margin.

Mission

RAISING MONEY TO SUPPORT, ENHANCE AND PRESERVE THE LAKE CITY PUBLIC LIBRARY PROGRAMS AND SERVICES.

Program Service Accomplishments

Program 1

Expenses: $0

THE FOUNDATION RECEIVES DONATIONS FROM THE PUBLIC AND WILL USE THESE FUNDS TO SUPPORT THE LAKE CITY PUBLIC LIBRARY AS NECESSARY.

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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 $590,203

Program Service Revenue $0

Investment Income $3,133

Other Revenue $0

TOTAL REVENUE $593,336

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $20

TOTAL EXPENSES $20

Year-over-Year Comparison

	2024	2023	Change
Revenue	$593,336	$103,725	+4.7%
Expenses	$20	$20	N/A
Net Income	$593,316	$103,705	+4.7%

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
BECKY DAVIS	PRESIDENT	0.10	Officer Director	$0	$0	$0
MICHAEL RICHARDSON	VICE PRESIDENT	0.10	Officer Director	$0	$0	$0
DR JANE COLLISON DVM	SECRETARY	0.10	Officer Director	$0	$0	$0
PETER FARLEY	TREASURER	0.10	Officer Director	$0	$0	$0
DR LINDA ILER MD	DIRECTOR	0.10	Director	$0	$0	$0
DENNIS JOHNSON	DIRECTOR	0.10	Director	$0	$0	$0
LEISA MAYER	DIRECTOR	0.10	Director	$0	$0	$0
MARY REITER	DIRECTOR	0.10	Director	$0	$0	$0
MARIETA SMITH	DIRECTOR	0.10	Director	$0	$0	$0
MAURENE THIESZEN	DIRECTOR	0.10	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	$593,336	$20	$881,174	$593,316