BLACKWATER REGIONAL LIBRARY

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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

2001

Legal Domicile

Principal Officer

BENJAMIN E NEAL

Phone

7576530298

Tax Period

2023-07-01 to 2024-06-30

BLACKWATER REGIONAL LIBRARY, founded in 2001, is a community nonprofit in the Education sector that reported $2.9M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $2.7M left a modest 6% surplus.

Mission

REGIONAL PUBLIC LIBRARY

Program Service Accomplishments

Program 1

Expenses: $2,278,465

THE BLACKWATER REGIONAL LIBRARY PROVIDES A VARIETY OF LIBRARY RESOURCES, ACCESS TO INNOVATIVE TECHNOLOGIES, AND A WELL-TRAINED AND MOTIVATED STAFF TO IMPROVE THE QUALITY OF LIFE AND MEET THE...

THE BLACKWATER REGIONAL LIBRARY PROVIDES A VARIETY OF LIBRARY RESOURCES, ACCESS TO INNOVATIVE TECHNOLOGIES, AND A WELL-TRAINED AND MOTIVATED STAFF TO IMPROVE THE QUALITY OF LIFE AND MEET THE INFORMATIONAL, EDUCATIONAL, AND CULTURAL INTERESTS OF THE REGION. WITH AN EMPHASIS ON EXCELLENCE, OUR STAFF CONSISTENTLY DELIVERS HIGH-QUALITY SERVICE TO MAKE EVERYONE'S EXPERIENCE WITH THE LIBRARY AS EASY, PLEASANT, AND COMFORTABLE AS POSSIBLE. WE CREATE AN ENVIRONMENT THAT ENCOURAGES READING AND LEARNING WHILE WE PROMOTE AND EXPAND LIBRARY USE TO ALL PATRONS IN OUR SERVICE AREA. THE LIBRARY SERVES 5 MUNICIPALITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,709,128

Program Service Revenue $35,580

Investment Income $191,441

Other Revenue $625

TOTAL REVENUE $2,936,774

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,713,913

Fundraising Expenses $0

Program Expenses $2,278,465

Other Expenses $1,033,612

TOTAL EXPENSES $2,747,525

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,936,774	$2,623,425	+0.1%
Expenses	$2,747,525	$2,600,797	+0.1%
Net Income	$189,249	$22,628	+7.4%

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

103

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

$95,882

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BENJAMIN E NEAL	DIRECTOR	40.00	Director	$75,293	$20,589	$95,882
MECHELLE BLUNT	TRUSTEE	2.00	Director	$0	$0	$0
ORA BRIGGS	TRUSTEE	2.00	Director	$0	$0	$0
SYLVIA CLAGGETT	SECRETARY	2.00	Officer Director	$0	$0	$0
JENNIFER CUTHBERTSON	TRUSTEE	2.00	Director	$0	$0	$0
DEBORAH DAWSON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
TERRI HEDGEPETH	TRUSTEE	2.00	Director	$0	$0	$0
CONWAY HENDERSON	TRUSTEE	2.00	Director	$0	$0	$0
PAMELA LEASE	TRUSTEE	2.00	Director	$0	$0	$0
MICHELLE MANFRED	TRUSTEE	2.00	Director	$0	$0	$0
JESSICA MOORE	TRUSTEE	2.00	Director	$0	$0	$0
DENISE TYNES	TRUSTEE	2.00	Director	$0	$0	$0
PAMELA VAUGHAN	TRUSTEE	2.00	Director	$0	$0	$0
WILLIAM A WORSHAM	CHAIR	4.00	Officer 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	$2,936,774	$2,747,525	$3,448,192	$189,249
2023	$2,623,425	$2,600,797	$3,111,518	$22,628
2022	$2,595,036	$2,480,086	$2,907,987	$114,950
2021	$2,528,815	$2,375,362	$3,311,775	$153,453
2020	$2,334,497	$2,235,276	$2,737,280	$99,221
2019	$2,350,881	$2,262,359	$2,617,313	$88,522