Transylvania County Library Founda… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1945

Legal Domicile

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.

Program Service Accomplishments

Program 1

Expenses: $138,723 Revenue: $0

The Looking Glass Rock Writers Conference is a partnership between the Transylvania County Library Foundation and Brevard College to encourage all genres of creative writing around a common theme of a sense of place through readings, workshops and hands- on engagement with writers of regional and national renown. The Conference serves as a catalyst for further recognition of Transylvania County as a distinguished community rich in culture and learning opportunities for people of all ages.

Program 2

J.R. MCDOWELL SPEAKER SERIES: The series is designed to present a wide array of viewpoints on challenging and thought-provoking topics and to bring renowned speakers to our community. In September...

J.R. MCDOWELL SPEAKER SERIES: The series is designed to present a wide array of viewpoints on challenging and thought-provoking topics and to bring renowned speakers to our community. In September 2023, the Foundation presented a talk by historial Annette Gorden Reed, and in April 2024, presented a talk by the scientist and writer Drew Lanham. In addition to the public event, McDowell speakers meet with local students.

Program 3

LIBRARY SUPPORT: The Transylvania County Library Foundation provided funding to enhance the services and spaces offered by the Transylvania County Library. This allowed the librarys services for the public to surpass what would be possible with the librarys regular operational budget. Examples of library offerings made possible by the Library Foundations financial support include access to the streaming Kanopy video database, archival preservation of local history materials, childrens books given out at a school readiness event, and new outdoor seating on the librarys patio.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

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
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

Transylvania County Library Foundation