ESSEX PUBLIC LIBRARY 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

1979

Legal Domicile

Principal Officer

REV CORNELIUS HOLMES

Phone

8044434945

Tax Period

2024-07-01 to 2025-06-30

ESSEX PUBLIC LIBRARY INC, founded in 1979, is a small nonprofit that reported $218K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $68K, a strong 31% operating margin.

Mission

TO PROVIDE LIBRARY AND SERVICES TO THE RESIDENTS OF THE COUNTY OF ESSEX AND TOWN OF TAPPAHANNOCK.

Program Service Accomplishments

Program 1

Expenses: $128,790 Revenue: $15,803

TO PROVIDE LIBRARY AND SERVICES TO THE RESIDENTS OF THE COUNTY OF ESSEX AND TOWN OF TAPPAHANNOCK.

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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 $125,316

Program Service Revenue $15,803

Investment Income $77,223

Other Revenue $0

TOTAL REVENUE $218,342

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $128,790

Other Expenses $150,138

TOTAL EXPENSES $150,138

Year-over-Year Comparison

	2024	2023	Change
Revenue	$218,342	$174,679	+0.2%
Expenses	$150,138	$149,646	+0.0%
Net Income	$68,204	$25,033	+1.7%

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

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
CHRIS BOWDEN	TREASURER	1.00	Officer Director	$0	$0	$0
ELIZABETH FOWLER	SECRETARY	1.00	Officer Director	$0	$0	$0
REV CORNELIUS HOLMES	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DR GENE QUARLES	BOARD MEMBER	1.00	Director	$0	$0	$0
BLAKE SLUSSER	BOARD MEMBER	1.00	Director	$0	$0	$0
LATANYA WEEDEN	BOARD MEMBER	1.00	Director	$0	$0	$0
DANA WELLS	BOARD MEMBER	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
2025	$218,342	$150,138	$1,105,509	$68,204
2024	$174,679	$149,646	$969,102	$25,033
2023	$146,437	$141,010	$793,457	$5,427
2022	$156,993	$111,230	$752,639	$45,763
2021	$167,432	$124,123	$813,346	$43,309
2020	$118,477	$85,213	$633,289	$33,264
2019	$142,616	$131,014	$627,872	$11,602