PUBLIC LIBRARY OF JOHNSTON COUNTY … - Form 990 Financial Data

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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

1967

Legal Domicile

Principal Officer

JANE SHIPMAN

Phone

9199348146

Tax Period

2024-07-01 to 2025-06-30

PUBLIC LIBRARY OF JOHNSTON COUNTY & SMITHFIELD, founded in 1967, is a community nonprofit in the Education sector that reported $2.4M in total revenue in fiscal year 2024.

Mission

OUR MISSION IS TO ENHANCE THE OVERALL QUALITY OF LIFE IN OUR COMMUNITIES BY PROMOTING AND DEVELOPING READERS OF ALL AGES AND CULTIVATING IN THEM A PASSION FOR LIFELONG READING AND LEARNING.

Program Service Accomplishments

Program 1

Expenses: $2,379,228 Revenue: $78,560

TO PROVIDE A LIBRARY, BOOK SERVICE AND OTHER PROGRAMS TO THE PUBLIC OF JOHNSTON COUNTY, NC AND THE TOWN OF SMITHFIELD, NC AND ITS SURROUNDING AREAS.

Program 2

N/A

Program 3

N/A

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,268,049

Program Service Revenue $18,751

Investment Income $85,998

Other Revenue $9,918

TOTAL REVENUE $2,382,716

Expense Breakdown

Grants Paid $0

Salaries & Benefits $966,404

Fundraising Expenses $0

Program Expenses $2,379,228

Other Expenses $1,436,942

TOTAL EXPENSES $2,403,346

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,382,716	$2,212,414	+0.1%
Expenses	$2,403,346	$2,064,881	+0.2%
Net Income	$-20,630	$147,533	-1.1%

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

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
MARY AKER	TRUSTEE	0.00	Director	$0	$0	$0
CONNIE BARBOUR	TRUSTEE	0.00	Director	$0	$0	$0
RICK CHILDREY	TRUSTEE	0.00	Director	$0	$0	$0
KAREN COLLINS	TRUSTEE	0.00	Director	$0	$0	$0
DONNA DAUGHTRY	TRUSTEE	0.00	Director	$0	$0	$0
HEIDI HARRIS	TRUSTEE	0.00	Director	$0	$0	$0
MARTHA MILLS	TRUSTEE	0.00	Director	$0	$0	$0
KATHRYN NICOLAI	TRUSTEE	0.00	Director	$0	$0	$0
MEGAN PARRISH	TRUSTEE	0.00	Director	$0	$0	$0
AMY STANLEY	TRUSTEE	0.00	Director	$0	$0	$0
GARY UNDERWOOD	VICE-CHAIR	0.00	Officer	$0	$0	$0
JANE SHIPMAN	CHAIRPERSON	2.00	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
2025	$2,382,716	$2,403,346	$2,438,749	$-20,630
2024	$2,212,414	$2,064,881	$2,459,264	$147,533
2023	$2,153,006	$1,893,006	$2,262,615	$260,000
2022	$1,465,964	$1,470,013	$1,928,759	$-4,049
2021	$1,346,641	$1,370,898	$1,908,964	$-24,257
2020	$1,335,539	$1,437,097	$1,696,661	$-101,558
2019	$1,226,956	$1,434,427	$1,763,290	$-207,471
2018	$1,232,307	$1,262,300	$1,925,823	$-29,993

PUBLIC LIBRARY OF JOHNSTON COUNTY & SMITHFIELD