Friends of the Library Virginia Beach Inc (EIN 541064465) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Phone

7574969586

Tax Period

2024-04-01 to 2025-03-31

FRIENDS OF THE LIBRARY VIRGINIA BEACH INC, founded in 1969, is a small nonprofit in the Education sector that reported $117K in total revenue in fiscal year 2019. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $57K, a strong 49% operating margin.

Mission

To promote the mission and services of the Virginia Beach Public Library through advocacy and programming support, and to support similar related activities.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,567

Program Service Revenue $0

Investment Income $12,751

Other Revenue $78,694

TOTAL REVENUE $99,012

Expense Breakdown

Grants Paid $64,369

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $64,369

Other Expenses $7,030

TOTAL EXPENSES $71,399

Year-over-Year Comparison

	2024	2023	Change
Revenue	$99,012	$104,439	-0.1%
Expenses	$71,399	$92,040	-0.2%
Net Income	$27,613	$12,399	+1.2%

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	Role	Reportable Comp	Other Comp	Total
Anne T Jordan	Treasurer	Officer Director	$0	$0	$0
Pam Levinson	President	Officer Director	$0	$0	$0
Mary Jane Morewitz	Vice President	Officer Director	$0	$0	$0
Vicki Devine	Secretary	Officer Director	$0	$0	$0
Nancy Parker	Immediate Past President	Officer Director	$0	$0	$0
Judy Bandy	Director	Director	$0	$0	$0
Annette Davis	Director	Director	$0	$0	$0
Bob Gilson	Director	Director	$0	$0	$0
Judy Harbison	Director	Director	$0	$0	$0
Barbara Wyckoff	Director	Director	$0	$0	$0
Nancy Bouissey	Director	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	$99,012	$71,399	$402,866	$27,613
2024	$104,439	$92,040	$370,020	$12,399
2023	$93,517	$86,564	$325,568	$6,953
2022	$71,626	$38,136	$342,175	$33,490
2021	$24,107	$36,838	$306,978	$-12,731
2020	$116,794	$59,524	$259,852	$57,270

Friends of the Library Virginia Beach Inc