Norfolk Law Library

EIN: 541434848 501(c)(3) Education

Norfolk, VA

Total Revenue
$158,193
Total Expenses
$287,238
Total Assets
$1,822,645
Net Assets
$1,816,686
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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
1987
Legal Domicile
VA
Principal Officer
RACHEL VANHORN
Phone
7576222910
Tax Period
2024-07-01 to 2025-06-30

Norfolk Law Library, founded in 1987, is a small nonprofit in the Education sector that reported $158K in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $287K exceeded revenue, resulting in a 82% operating deficit.

Mission

OPERATION OF A PUBLIC LAW LIBRARY TO SERVE THE LEGAL RESEARCH NEEDS OF THE GENERAL PUBLIC, LAWYERS, AND THE COURTS.

Program Service Accomplishments

Program 1
Expenses: $257,388 Revenue: $0

OPERATION AND MANAGEMENT OF LAW LIBRARY, SERVING GENERAL PUBLIC, LOCAL JUDGES AND LAW CLERKS, MEMBERS OF NORFOLK AND PORTSMOUTH BAR ASSOCIATION, PROVIDING ACCESS TO EXTENSIVE COLLECTION OF LEGAL...

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OPERATION AND MANAGEMENT OF LAW LIBRARY, SERVING GENERAL PUBLIC, LOCAL JUDGES AND LAW CLERKS, MEMBERS OF NORFOLK AND PORTSMOUTH BAR ASSOCIATION, PROVIDING ACCESS TO EXTENSIVE COLLECTION OF LEGAL RESEARCH MATERIAL.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $158,144
Program Service Revenue $0
Investment Income $0
Other Revenue $49
TOTAL REVENUE $158,193

Expense Breakdown

Grants Paid $0
Salaries & Benefits $107,611
Fundraising Expenses $0
Program Expenses $257,388
Other Expenses $179,627
TOTAL EXPENSES $287,238

Year-over-Year Comparison

2024 2023 Change
Revenue $158,193 $213,408 -0.3%
Expenses $287,238 $200,153 +0.4%
Net Income $-129,045 $13,255 -10.7%
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

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Governance

Voting Members
6
Independent Members
6
Employees
2
Volunteers
6

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
2
$56,500
Total Directors
7
$56,500
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ASHLEY REED LAW LIBRARIAN 40.0
Officer Director
$56,500 $0 $56,500
RACHEL E VANHORN ESQ PRESIDENT 0.2
Officer Director
$0 $0 $0
LAURIE A CLAYWELL DIRECTOR 0.2
Director
$0 $0 $0
JENNIFER L EATON ESQ DIRECTOR 0.2
Director
$0 $0 $0
NANCY LOEWENBERG DIRECTOR 0.2
Director
$0 $0 $0
BONNIE LANE ESQ DIRECTOR 0.2
Director
$0 $0 $0
GEORGE E SCHAEFER III ESQ DIRECTOR 0.2
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 $158,193 $287,238 $1,822,645 $-129,045
2024 No data No data No data No data
2023 $206,174 $189,596 $1,933,379 $16,578
2022 $137,528 $149,308 $1,921,700 $-11,780
2021 $222,674 $179,680 $1,927,678 $42,994
2020 $196,589 $191,868 $1,903,784 $4,721
2019 $215,632 $207,787 $1,879,963 $7,845
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