FRIENDS OF THE BUCHANAN COUNTY LIBR

EIN: 541839915 501(c)(3) Education

GRUNDY, VA

Total Revenue
$61,791
Total Expenses
$25,586
Total Assets
$655,902
Net Assets
$655,902
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Principal Officer
MARGARET WAKELAND
Phone
2769355721
Tax Period
2024-01-01 to 2024-12-31

FRIENDS OF THE BUCHANAN COUNTY LIBR, founded in 2000, is a small nonprofit in the Education sector that reported $128K in total revenue in fiscal year 2022. The organization ran a surplus of $72K, a strong 56% operating margin.

Mission

THE FRIENDS ARE A WONDERFUL GROUP OF LIBRARY VOLUNTEERS AND SUPPORTERS WHO SPONSOR AUTHOR VISITS AND BOOK SIGNINGS, TAKE ON PROJECTS SUCH AS LANDSCAPING THE LIBRARY, SERVE AS PROGRAM VOLUNTEERS, AND RAISE FUNDS FOR THE LIBRARY.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $34,883
Program Service Revenue $0
Investment Income $26,908
Other Revenue $0
TOTAL REVENUE $61,791

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $21,902
Other Expenses $25,586
TOTAL EXPENSES $25,586

Year-over-Year Comparison

2024 2023 Change
Revenue $61,791 $80,204 -0.2%
Expenses $25,586 $40,817 -0.4%
Net Income $36,205 $39,387 -0.1%
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
9
Independent Members
9
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
3
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRITTANY CLEVINGER DIRECTOR N/A
Director
$0 $0 $0
MAE BROYLES SECRETARY N/A
Officer
$0 $0 $0
PHILLIP JUSTICE VICE CHAIR N/A
Officer
$0 $0 $0
MARGARET WAKELAND CHAIR 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
2024 $61,791 $25,586 $655,902 $36,205
2023 $80,204 $40,817 $619,566 $39,387
2022 $127,774 $55,946 $580,048 $71,828
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