FORSYTH LIBRARY FRIENDS INC

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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

1970

Legal Domicile

Principal Officer

JANET HUTCHINSON

Tax Period

2023-09-01 to 2024-08-31

FORSYTH LIBRARY FRIENDS INC, founded in 1970, is a micro nonprofit in the Education sector that reported $69K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Net assets of $405K represent 70 months of operating reserves.

Mission

TO PROVIDE AND MAINTAIN LIBRARY AND THRIFT SHOP FACILITIES AND SERVICES TO THE RESIDENTS OF THE COMMUNITY

Program Service Accomplishments

Program 1

Expenses: $16,397

OCCUPANCY EXPENSES WERE INCURRED TO PROVIDE LIBRARY SERVICES TO THE

Program 2

Expenses: $3,214

DEPRECIATION WAS INCURRED TO ANTICIPATE THE REPLACEMENT OF DEPRECIABLE

Program 3

Expenses: $4,402

INSURANCE EXPENSES WERE INCURRED TO REPLACE THE FIXED ASSETS IN THE

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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 $65,296

Program Service Revenue $1,877

Investment Income $0

Other Revenue $2,296

TOTAL REVENUE $69,469

Expense Breakdown

Grants Paid $0

Salaries & Benefits $30,832

Fundraising Expenses $10,383

Program Expenses $24,013

Other Expenses $40,869

TOTAL EXPENSES $71,701

Year-over-Year Comparison

	2023	2022	Change
Revenue	$69,469	$64,082	+0.1%
Expenses	$71,701	$78,070	-0.1%
Net Income	$-2,232	$-13,988	-0.8%

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

180

Independent Members

180

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
DAISY MADSEN	PRESIDENT	20	Officer	$0	$0	$0
MARY WOLF	VICE PRERSIDEN	20	Officer	$0	$0	$0
MARYLOU DREW	SECRETARY	20	Officer	$0	$0	$0
JANET HUTCHINS	TREASURER	20	Officer	$0	$0	$0
KAREN SMITH	FUND RAISING	20	Officer	$0	$0	$0
JENNIFER JETT	MEMBERSHIP	20	Officer	$0	$0	$0
SUE ALGOOD	ENDOWMENT	20	Officer	$0	$0	$0
ETHEL SODERQUI	GENEOLOGY	20	Officer	$0	$0	$0
ETHEL WEST	THRIFT SHOP	20	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
2025	No data	No data	No data	No data
2024	$69,469	$71,701	$404,773	$-2,232
2023	$64,082	$78,070	$380,047	$-13,988
2022	$70,468	$76,062	$242,854	$-5,594
2021	$46,320	$63,876	$244,789	$-17,556
2020	$51,598	$65,262	$250,670	$-13,664