NORFOLK PUBLIC LIBRARY FOUNDATION

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1995

Principal Officer

THOMAS H JONES III

Phone

7576647328

Tax Period

2022-07-01 to 2023-06-30

NORFOLK PUBLIC LIBRARY FOUNDATION, founded in 1995, is a micro nonprofit in the Education sector that reported $27K in total revenue in fiscal year 2022. Revenue fell 90% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $23K, a strong 87% operating margin.

Mission

THE ASSETS OF THE FOUNDATION SHALL BE USED FOR THE ACQUISTION OF LIBRARY MATERIAL FOR THE NORFOLK PUBLIC LIBRARY SYSTEM, INCLUDING ANY METHODS OF DATA RECEPTION, TRANSMISSION, OR STORAGE. IN ADDITION THE FUNDS CAN BE USED FOR CONSTRUCTION OR MAINTENANCE FOR THE NORFOLK PUBLIC LIBRARY BUILDINGS.

Program Service Accomplishments

Program 1

SUPPORT OF REFURBISHMENT OF PUBLIC LIBRARY'S BOOKMOBILE.

Program 2

Expenses: $1,750

GRANTS TO THE PUBLIC LIBRARY.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $19,837

Program Service Revenue $0

Investment Income $4,650

Other Revenue $2,309

TOTAL REVENUE $26,796

Expense Breakdown

Grants Paid $1,750

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,750

Other Expenses $1,600

TOTAL EXPENSES $3,350

Year-over-Year Comparison

	2022	2021	Change
Revenue	$26,796	$276,130	-0.9%
Expenses	$3,350	$50,000	-0.9%
Net Income	$23,446	$226,130	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

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
THOMAS H JONES III	PRESIDENT	N/A	Officer	$0	$0	$0
SONAL RASTOGI	SECRETARY	N/A	Officer	$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
2023	$26,796	$3,350	$534,004	$23,446
2022	$276,130	$50,000	$510,558	$226,130
2021	$351,423	$200,700	$284,428	$150,723