NORTH CAROLINA LIBRARY ASSOCIATION… - 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

1904

Legal Domicile

Principal Officer

LIBBY STONE

Phone

3362870587

Tax Period

2023-01-01 to 2023-12-31

NORTH CAROLINA LIBRARY ASSOCIATION INC, founded in 1904, is a small nonprofit that reported $161K in total revenue in fiscal year 2023. Revenue surged 108% from the prior year, signaling strong growth momentum. Net assets of $550K represent 41 months of operating reserves.

Mission

TO PROMOTE LIBRARIES, LIBRARY AND INFORMATION SERVICES, AND LIBRARIANSHIP; AND TO CHAMPION INTELLECTUAL FREEDOM AND LITERACY PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $164,433 Revenue: $153,984

WORKSHOPS, PROGRAMS AND MEETINGS ARE HELD TO PROVIDE CONTINUING EDUCATION FOR PUBLIC, ACADEMIC AND SPECIAL LIBRARIANS, AND TO ADVOCATE FOR LIBRARIANS AND LIBRARIES.

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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 $2,915

Program Service Revenue $151,609

Investment Income $3,708

Other Revenue $2,375

TOTAL REVENUE $160,607

Expense Breakdown

Grants Paid $18,720

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $164,433

Other Expenses $149,143

TOTAL EXPENSES $167,863

Year-over-Year Comparison

	2023	2022	Change
Revenue	$160,607	$77,360	+1.1%
Expenses	$167,863	$80,431	+1.1%
Net Income	$-7,256	$-3,071	+1.4%

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

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
LORRIE RUSSELL	PAST PRESIDENT	6.00	Officer Director	$0	$0	$0
LIBBY STONE	PRESIDENT	6.00	Officer Director	$0	$0	$0
LARA LUCK	TREASURER	6.00	Officer Director	$0	$0	$0
KATE ENGELBRECHT	TREASURER ELECT	1.00	Officer Director	$0	$0	$0
DAWN BEHREND	VICE PRESIDENT/PRES. ELECT	1.00	Officer Director	$0	$0	$0
JENNEFFER SIXKILLER	SECRETARY	6.00	Officer Director	$0	$0	$0
JENNIFER DAUGHERTY	DIRECTOR	1.00	Director	$0	$0	$0
WANDA BROWN	DIRECTOR	1.00	Director	$0	$0	$0
JULI MOORE	DIRECTOR	1.00	Director	$0	$0	$0
ALAN UNSWORTH	DIRECTOR	1.00	Director	$0	$0	$0
SIOBHAN LOENDORF	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE UNDERHILL	DIRECTOR - NONVOTING	1.00	Director	$0	$0	$0
MEGAN MEAD	DIRECTOR - NONVOTING	1.00	Director	$0	$0	$0
VELAPPAN VELAPPAN	DIRECTOR	1.00	Director	$0	$0	$0
MORGAN RITCHIE-BAUM	DIRECTOR	1.00	Director	$0	$0	$0
TIM HUNTER	DIRECTOR	1.00	Director	$0	$0	$0
MOLLIE PEULER	DIRECTOR	1.00	Director	$0	$0	$0
ELISABETH GARNER	DIRECTOR	1.00	Director	$0	$0	$0
BRANDY HAMILTON	DIRECTOR	1.00	Director	$0	$0	$0
LAJUAN PRINGLE	DIRECTOR	1.00	Director	$0	$0	$0
SARAH MILLER	DIRECTOR	1.00	Director	$0	$0	$0
RONALD HEADEN	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL OLSEN	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA LOVELY	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE OSBORNE	DIRECTOR	1.00	Director	$0	$0	$0
TIFFANY HENRY	DIRECTOR	1.00	Director	$0	$0	$0
BRITTANY CHAMPION	DIRECTOR	1.00	Director	$0	$0	$0
JESSICA JANECKI	DIRECTOR	1.00	Director	$0	$0	$0
DENICE LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
KATE HILL	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE HILDRETH	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$160,607	$167,863	$550,154	$-7,256
2022	$77,360	$80,431	$535,722	$-3,071
2021	$181,871	$89,955	$561,950	$91,916
2020	$57,469	$38,852	$493,681	$18,617
2019	$296,345	$231,166	$452,588	$65,179
2018	$130,438	$106,687	$366,650	$23,751

NORTH CAROLINA LIBRARY ASSOCIATION INC