Durham Colored Library Inc (EIN 566001420) - Form 990 Financial Analysis & Trantor Score

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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

1918

Legal Domicile

Phone

9196410030

Tax Period

2024-01-01 to 2024-12-31

Durham Colored Library Inc, founded in 1918, is a small nonprofit in the Education sector that reported $172K in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $74K, a strong 43% operating margin.

Mission

To lift up stories of African American figures, both current and historical, to create a more comprehensive picture of the American experience.

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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 $135,798

Program Service Revenue $21,029

Investment Income $15,111

Other Revenue $0

TOTAL REVENUE $171,938

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,800

Fundraising Expenses $610

Program Expenses $73,532

Other Expenses $80,996

TOTAL EXPENSES $98,406

Year-over-Year Comparison

	2024	2023	Change
Revenue	$171,938	$229,578	-0.3%
Expenses	$98,406	$77,878	+0.3%
Net Income	$73,532	$151,700	-0.5%

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

N/A

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Edward H Gomes JR	Board Member	2.00	Director	$0	$0	$0
Cecile A Chadwick	Board Member	2.00	Director	$0	$0	$0
Eleanore Mcconnell	Board Member	2.00	Director	$0	$0	$0
Christine E McLeod	Board Member	2.00	Director	$0	$0	$0
Babu G Welch	Board Member	2.00	Director	$0	$0	$0
Deborah Thompson	Board Member	2.00	Director	$0	$0	$0
C Eileen Watts Welch	Chair	20.00	Officer	$0	$0	$0
James A Welch	Treasurer	10.00	Officer	$0	$0	$0
H Eugene Tatum III	Secretary	2.00	Officer	$0	$0	$0
Brandi S Glover	Editor & Communication Coordinator	2.00	Officer	$0	$0	$0
Elaine B Curry	Finance Committee 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
2024	$171,938	$98,406	$761,942	$73,532
2023	$229,578	$77,878	$689,111	$151,700
2022	$224,774	$151,719	$546,789	$73,055

Durham Colored Library Inc