THE ASSOCIATION FOR RURAL AND SMAL… - Form 990 Financial Data

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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

1984

Legal Domicile

Principal Officer

KATE LAUGHLIN

Phone

2064533579

Tax Period

2024-01-01 to 2024-12-31

THE ASSOCIATION FOR RURAL AND SMALL LIBRARIES, founded in 1984, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 160% from the prior year, signaling strong growth momentum. Expenses of $1.5M exceeded revenue, resulting in a 12% operating deficit.

Mission

ARSL BUILDS STRONG COMMUNITIES THROUGH ADVOCACY, PROFESSIONAL DEVELOPMENT, AND ELEVATING THE IMPACT OF RURAL AND SMALL LIBRARIES.

Program Service Accomplishments

Program 1

Expenses: $1,126,875 Revenue: $315,590

ARSL SUCCESSFULLY HELD ITS ANNUAL CONFERENCE, BOTH IN-PERSON AND ONLINE. MORE THAN 700 ATTENDEES PARTICIPATED IN THIS FOUR-DAY PROFESSIONAL DEVELOPMENT EVENT. ARSL LEADERSHIP INSTITUTE PROVIDED...

ARSL SUCCESSFULLY HELD ITS ANNUAL CONFERENCE, BOTH IN-PERSON AND ONLINE. MORE THAN 700 ATTENDEES PARTICIPATED IN THIS FOUR-DAY PROFESSIONAL DEVELOPMENT EVENT. ARSL LEADERSHIP INSTITUTE PROVIDED LEADERSHIP DEVELOPMENT EDUCATION FOR 30 LIBRARIANS SERVING SMALL, RURAL LIBRARIES. THE INSTITUTE WAS INITIALLY SUPPORTED BY A FEDERAL IMLS GRANT OF APPROXIMATELY $250K OVER A 3-YEAR PERIOD (2020-2023). A SECOND ROUND OF FUNDING WAS AWARDED TO EDUCATE AN ADDITIONAL 30-PERSON COHORT (2023-2026). ARSL MONTHLY TRAINING AND NETWORKING SERIES, THE ARSL TRAIN. HELD VIRTUALLY OVER ZOOM THIS SERIES PROVIDES PROFESSIONAL DEVELOPMENT AND NETWORKING OPPORTUNITIES FOR ARSLS 2000 MEMBERS, AS WELL AS NONMEMBERS NATIONWIDE.

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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 $1,057,996

Program Service Revenue $315,590

Investment Income $1,329

Other Revenue $675

TOTAL REVENUE $1,375,590

Expense Breakdown

Grants Paid $724,688

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,126,875

Other Expenses $811,990

TOTAL EXPENSES $1,536,678

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,375,590	$528,935	+1.6%
Expenses	$1,536,678	$610,187	+1.5%
Net Income	$-161,088	$-81,252	+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

150

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
PATRICK BODILY	PRESIDENT	10.00	Officer Director	$0	$0	$0
SARAH VANTREASE	REGIONAL REPRESENTATIVE	2.00	Director	$0	$0	$0
PHILLIP CARTER	REGIONAL REPRESENTATIVE	2.00	Director	$0	$0	$0
JOHN CLEXTON	VICE PRESIDENTPRESIDENT-ELECT	2.00	Officer Director	$0	$0	$0
TYLER HAHN	REGIONAL REPRESENTATIVE	2.00	Director	$0	$0	$0
JENNIE GARNER	PAST PRESIDENT	2.00	Director	$0	$0	$0
ERIN BUSBEA	TREASURER	2.00	Officer Director	$0	$0	$0
MICHELLE UNDERHILL	COSLA REP	2.00	Director	$0	$0	$0
AMY STONE	REGIONAL REPRESENTATIVE	2.00	Director	$0	$0	$0
AMANDA DOHERTY	SECRETARY	2.00	Officer Director	$0	$0	$0
KATE LAUGHLIN	EXECUTIVE DIRECTOR	40.00	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	$1,375,590	$1,536,678	$355,147	$-161,088
2023	$528,935	$610,187	$1,211,105	$-81,252
2022	$1,145,132	$1,064,204	$594,148	$80,928
2021	$727,881	$723,210	$577,773	$4,671
2020	$189,524	$196,766	$491,877	$-7,242
2019	$325,023	$228,695	$469,370	$96,328
2018	$288,064	$182,254	$371,652	$105,810

THE ASSOCIATION FOR RURAL AND SMALL LIBRARIES