Friends of the Venice Public Libra… - 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

1962

Legal Domicile

Phone

9418611351

Tax Period

2024-10-01 to 2025-09-30

Friends of the Venice Public Library Inc, founded in 1962, is a small nonprofit in the Arts, Culture & Humanities sector that reported $234K in total revenue in fiscal year 2024. Revenue fell 83% from the prior year — a significant decline worth monitoring. Expenses of $215K left a modest 8% surplus.

Mission

The organization enhances the community through its library. The Friends sustain vital programs, services and resources provided by the William H Jervey Jr Venice Public Library, guaranteeing our Librarys enduring role as the heart of our community for years to come.

Program Service Accomplishments

Program 1

Expenses: $192,750 Revenue: $125,128

Provided financial support for books, materials, programs, services, resources, and other non-budgeted expenses for the William H Jervey Jr Venice Public Library.

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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 $108,812

Program Service Revenue $42,314

Investment Income $82,814

Other Revenue $0

TOTAL REVENUE $233,940

Expense Breakdown

Grants Paid $164,033

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $192,750

Other Expenses $41,137

TOTAL EXPENSES $214,975

Year-over-Year Comparison

	2024	2023	Change
Revenue	$233,940	$1,416,204	-0.8%
Expenses	$214,975	$206,182	+0.0%
Net Income	$18,965	$1,210,022	-1.0%

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

N/A

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
Tobe Cookingham	Director	1.00	Director	$0	$0	$0
Janet Knudsen	President	1.00	Director	$0	$0	$0
Donna Pachota	Director	1.00	Director	$0	$0	$0
Laura Jo	Director	1.00	Director	$0	$0	$0
Lynn Gelzheiser	Director	1.00	Director	$0	$0	$0
Heather Shirley	Secretary	1.00	Director	$0	$0	$0
Karen Murphy	Treasury	5.00	Director	$0	$0	$0
Deborah Kostroun	Director	20.00	Director	$0	$0	$0
Charlene Romano	Director	1.00	Director	$0	$0	$0
Margaret Stalford	Vice President	1.00	Director	$0	$0	$0
Michael Rank	Director	1.00	Director	$0	$0	$0
Dennis Backens	Director	1.00	Director	$0	$0	$0
Betty Wolfe	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
2025	$233,940	$214,975	$3,121,698	$18,965
2024	$1,416,204	$206,182	$2,858,608	$1,210,022
2018	$531,117	$586,148	$844,590	$-55,031

Friends of the Venice Public Library Inc