Transylvania County Library Foundation

EIN: 566011584 501(c)(3)

Brevard, NC

Total Revenue
$84,913
Total Expenses
$180,042
Total Assets
$5,243,666
Net Assets
$4,885,685
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1945
Legal Domicile
NC
Principal Officer
Larry Sitton
Phone
8288843151
Tax Period
2023-07-01 to 2024-06-30

Transylvania County Library Foundation, founded in 1945, is a micro nonprofit that reported $85K in total revenue in fiscal year 2023. Revenue fell 74% from the prior year — a significant decline worth monitoring. Expenses of $180K exceeded revenue, resulting in a 112% operating deficit.

Mission

To obtain and manage funds and memorials and to receive gifts, grants and bequests for the use of the Transylvania County Library; to promote and support library services in Transylvania County.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $11,607
Program Service Revenue $0
Investment Income $73,306
Other Revenue $0
TOTAL REVENUE $84,913

Expense Breakdown

Grants Paid $18,023
Salaries & Benefits $0
Fundraising Expenses $1,941
Program Expenses $138,723
Other Expenses $162,019
TOTAL EXPENSES $180,042

Year-over-Year Comparison

2023 2022 Change
Revenue $84,913 $328,227 -0.7%
Expenses $180,042 $247,472 -0.3%
Net Income $-95,129 $80,755 -2.2%
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

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
13

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
4
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David Watkins Board Chair 4.00
Officer Director
$0 $0 $0
John Welch Vice-Chair 2.00
Officer Director
$0 $0 $0
Larry Sitton Treasurer 4.00
Officer Director
$0 $0 $0
Rishara Finsel Secretary 4.00
Officer Director
$0 $0 $0
Hannah Camenzind Board Member 1.00
Director
$0 $0 $0
Morris Jenkins Board Member 1.00
Director
$0 $0 $0
Alice Hardy Board Member 1.00
Director
$0 $0 $0
Michael Baker Board Member 1.00
Director
$0 $0 $0
Elizabeth Jordan Board Member 1.00
Director
$0 $0 $0
Sarah Justice Board Member 1.00
Director
$0 $0 $0
Karen Cole Board Member 1.00
Director
$0 $0 $0
Sheila Mooney Board Member 1.00
Director
$0 $0 $0
Alice Wellborn Board Member 1.00
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 No data No data No data No data
2024 $84,913 $180,042 $5,243,666 $-95,129
2023 $328,227 $247,472 $4,425,931 $80,755
2022 $189,992 $155,620 $3,868,360 $34,372
2021 $507,931 $96,020 $4,887,168 $411,911
2020 $143,067 $132,700 $3,832,845 $10,367
2019 $271,765 $177,185 $3,909,180 $94,580
2018 $231,770 $141,125 $3,557,449 $90,645
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