CHINCOTEAGUE ISLAND LIBRARY INC

EIN: 541641227 501(c)(3) Education

CHINCOTEAGUE, VA

Total Revenue
$104,407
Total Expenses
$58,500
Total Assets
$985,495
Net Assets
$985,469
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
VA
Principal Officer
PAUL J MILLER
Phone
7573363460
Tax Period
2024-01-01 to 2024-12-31

CHINCOTEAGUE ISLAND LIBRARY INC, founded in 1991, is a small nonprofit in the Education sector that reported $120K in total revenue in fiscal year 2020. Revenue surged 181% from the prior year, signaling strong growth momentum. The organization ran a surplus of $92K, a strong 77% operating margin.

Mission

FREE LIBRARY AND INFORMATION SERVICES INCLUDING INTERNET ACCESS FOR THE LOCAL COMMUNITY WITH EMPHASIS ON LITERACY AND CHILDREN'S READING PROGRAMS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $76,615
Program Service Revenue $3,553
Investment Income $28,626
Other Revenue $-4,387
TOTAL REVENUE $104,407

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $58,500
Other Expenses $58,500
TOTAL EXPENSES $58,500

Year-over-Year Comparison

2024 2023 Change
Revenue $104,407 $70,944 +0.5%
Expenses $58,500 $41,452 +0.4%
Net Income $45,907 $29,492 +0.6%
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

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
13

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
4
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL J MILLER PRESIDENT N/A
Officer Director
$0 $0 $0
LISA REED VICE PRESIDE N/A
Officer Director
$0 $0 $0
DAVID INGOLD SECRETARY N/A
Officer Director
$0 $0 $0
CYNTHIA WILDER TREASURER N/A
Officer Director
$0 $0 $0
LOU BENDER BOARD MEMBER N/A
Director
$0 $0 $0
NANCY CONKLIN BOARD MEMBER N/A
Director
$0 $0 $0
NANCY CUNNINGHAM BOARD MEMBER N/A
Director
$0 $0 $0
DIANE FISHER BOARD MEMBER N/A
Director
$0 $0 $0
HARRIET LONERGAN BOARD MEMBER N/A
Director
$0 $0 $0
BARBARA MASON BOARD MEMBER N/A
Director
$0 $0 $0
KATHY MICHAELIAN BOARD MEMBER N/A
Director
$0 $0 $0
SUSAN BIRCH PERSTCH BOARD MEMBER N/A
Director
$0 $0 $0
BRYCE VANSTAVERN BOARD MEMBER N/A
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 No data No data No data No data
2024 $104,407 $58,500 $985,495 $45,907
2023 $70,944 $41,452 $941,293 $29,492
2022 $69,699 $38,679 $911,291 $31,020
2021 $87,581 $38,734 $897,567 $48,847
2020 $119,937 $28,067 $701,346 $91,870
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