The Library Foundation of Hancock County Inc (EIN 582111069) - 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

1993

Legal Domicile

Principal Officer

Marykay Wicks

Phone

2288630677

Tax Period

2023-01-01 to 2023-12-31

The Library Foundation of Hancock County Inc, founded in 1993, is a small nonprofit that reported $354K in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. Net assets of $2.1M represent 71 months of operating reserves.

Mission

The mission of The Library Foundation is to strengthen the Hancock County Library Systems value to the community, to fund special projects and endowments, and to inspire community interest and involvement.

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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 $367,958

Program Service Revenue $0

Investment Income $19,959

Other Revenue $-34,336

TOTAL REVENUE $353,581

Expense Breakdown

Grants Paid $313,245

Salaries & Benefits $0

Fundraising Expenses $276

Program Expenses $341,718

Other Expenses $63,979

TOTAL EXPENSES $377,224

Year-over-Year Comparison

	2023	2022	Change
Revenue	$353,581	$473,141	-0.3%
Expenses	$377,224	$193,207	+1.0%
Net Income	$-23,643	$279,934	-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

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
None	None	N/A		$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	$353,581	$377,224	$2,169,759	$-23,643
2022	$473,141	$193,207	$2,066,591	$279,934
2021	$544,370	$128,541	$1,491,513	$415,829
2020	$222,794	$154,488	$990,515	$68,306
2019	$251,558	$152,699	$922,209	$98,859
2018	$344,812	$147,557	$823,350	$197,255

The Library Foundation of Hancock County Inc