Norfolk Law Library (EIN 541434848) - 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

1987

Legal Domicile

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 $216K in total revenue in fiscal year 2018. Revenue decreased 6% compared to the prior year. Expenses of $208K left a modest 4% surplus.

Mission

TO SERVE THE LEGAL RESEARCH NEEDS OF THE PUBLIC, LAWYERS, AND THE COURTS

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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 $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

Governance

Voting Members

Independent Members

Employees

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

$56,500

Total Directors

$56,500

Key Employees

Highest Compensated

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

Norfolk Law Library