Bassett Public Library Assoc Inc (EIN 546019269) - 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

1946

Legal Domicile

Principal Officer

Betty Turner

Phone

2766299191

Tax Period

2024-10-01 to 2025-09-30

Bassett Public Library Assoc Inc, founded in 1946, is a small nonprofit that reported $157K in total revenue in fiscal year 2018. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $174K exceeded revenue, resulting in a 10% operating deficit.

Mission

Maintains historical records and geneology records and other historical artifacts and art.

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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 $140,358

Program Service Revenue $1,387

Investment Income $31,992

Other Revenue $0

TOTAL REVENUE $173,737

Expense Breakdown

Grants Paid $0

Salaries & Benefits $114,687

Fundraising Expenses $0

Program Expenses $166,822

Other Expenses $80,205

TOTAL EXPENSES $194,892

Year-over-Year Comparison

	2024	2023	Change
Revenue	$173,737	$192,727	-0.1%
Expenses	$194,892	$190,093	+0.0%
Net Income	$-21,155	$2,634	-9.0%

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

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
Betty Turner	Chairman	2.00	Officer Director	$0	$0	$0
L Wesley Wells	Vice Chairman	2.00	Officer Director	$0	$0	$0
Lizz Stanley	Secretary	2.00	Officer Director	$0	$0	$0
Robert Clark	Treasurer	2.00	Officer Director	$0	$0	$0
Ruby Dillon Davis	Director	2.00	Director	$0	$0	$0
Spencer Morten III	Director	2.00	Director	$0	$0	$0
Ann Hudson	Treasurer	2.00	Officer Director	$0	$0	$0
Fran Snead	Executive Director	40.00		$50,554	$0	$50,554
Bradley Draper	Director	2.00	Director	$0	$0	$0
Paul Kennedy	Director	2.00	Director	$0	$0	$0
John McGhee	Director	2.00	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	$173,737	$194,892	$1,538,364	$-21,155
2024	$192,727	$190,093	$1,510,819	$2,634
2023	$162,761	$190,168	$1,508,206	$-27,407
2022	$220,791	$186,512	$1,535,717	$34,279
2021	$138,667	$198,852	$1,501,512	$-60,185
2020	$167,809	$174,407	$1,561,247	$-6,598
2019	$157,256	$173,538	$1,567,824	$-16,282

Bassett Public Library Assoc Inc