GLOVERSVILLE LIBRARY FOUNDATION INC

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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

2005

Legal Domicile

Principal Officer

JEREMIAH WOOD

Phone

5187250653

Tax Period

2025-01-01 to 2025-12-31

GLOVERSVILLE LIBRARY FOUNDATION INC, founded in 2005, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $269K in total revenue in fiscal year 2025. Revenue fell 48% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $54K, a strong 20% operating margin.

Mission

THE FOUNDATIONS SOLE PURPOSE IS TO RAISE FUNDS IN SUPPORT OF THE GLOVERSVILLE PUBLIC LIBRARY IN GLOVERSVILLE NEW YORK.

Program Service Accomplishments

Program 1

Expenses: $203,964

PROVIDING FINANCIAL SUPPORT FOR THE GLOVERSVILLE PUBLIC LIBRARY

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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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $108,722

Program Service Revenue $0

Investment Income $160,396

Other Revenue $0

TOTAL REVENUE $269,118

Expense Breakdown

Grants Paid $196,464

Salaries & Benefits $1,260

Fundraising Expenses $3,974

Program Expenses $203,964

Other Expenses $17,058

TOTAL EXPENSES $214,782

Year-over-Year Comparison

	2025	2024	Change
Revenue	$269,118	$521,830	-0.5%
Expenses	$214,782	$222,442	0.0%
Net Income	$54,336	$299,388	-0.8%

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

$17,100

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL J FRANK	TREASURER REC SEC	005.00	Officer	$7,500	$0	$17,100
JEREMIAH WOOD	PRESIDENT - CHAIRMAN	002.00	Officer Director	$0	$0	$0
CAROLE GOTTUNG	DIRECTOR	001.00	Officer Director	$0	$0	$0
GREG NIFOROS	DIRECTOR	001.00	Director	$0	$0	$0
DAVID R FISHER	DIRECTOR	001.00	Director	$0	$0	$0
CRAIG CLARK	DIRECTOR	001.00	Director	$0	$0	$0
MICHAEL PONTICELLO	DIRECTOR	001.00	Director	$0	$0	$0
JILL THAISZ	VICE CHAIRMAN	001.00	Officer Director	$0	$0	$0
CHRISTINE PESSES	DIRECTOR	001.00	Director	$0	$0	$0
CAREN PEPPER	DIRECTOR	001.00	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	$269,118	$214,782	$5,415,967	$54,336
2024	$521,830	$222,442	$4,809,029	$299,388
2023	$173,113	$157,250	$4,551,489	$15,863
2022	$170,096	$137,812	$4,328,697	$32,284
2021	$588,015	$37,023	$4,644,177	$550,992
2020	$274,225	$77,334	$4,504,529	$196,891
2019	$292,455	$175,292	$5,064,774	$117,163
2018	$905,985	$3,923,500	$5,688,687	$-3,017,515