LAKE MEMORIAL LIBRARY FUND

EIN: 646020755 501(c)(3) Education

RIDGELAND, MS

Total Revenue
$144,434
Total Expenses
$31,853
Total Assets
$2,408,601
Net Assets
$2,408,601
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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
MS
Principal Officer
LINDA LOCKWOOD
Phone
6017908048
Tax Period
2024-07-01 to 2025-06-30

LAKE MEMORIAL LIBRARY FUND, founded in 1962, is a small nonprofit in the Education sector that reported $144K in total revenue in fiscal year 2024. Revenue surged 67% from the prior year, signaling strong growth momentum. The organization ran a surplus of $113K, a strong 78% operating margin.

Mission

SUPPORT OF CITY OF JACKSON PUBLIC SCHOOL 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $143,889
Other Revenue $545
TOTAL REVENUE $144,434

Expense Breakdown

Grants Paid $0
Salaries & Benefits $19,547
Fundraising Expenses $0
Other Expenses $12,306
TOTAL EXPENSES $31,853

Year-over-Year Comparison

2024 2023 Change
Revenue $144,434 $86,722 +0.7%
Expenses $31,853 $71,327 -0.6%
Net Income $112,581 $15,395 +6.3%
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
N/A
Independent Members
N/A
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
0
$0
Total Directors
1
$19,547
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REGIONS BANK TRUSTEE 2.00
Director
$0 $19,547 $19,547
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 $144,434 $31,853 $2,408,601 $112,581
2024 $86,722 $71,327 $2,296,020 $15,395
2023 $98,828 $75,135 $2,280,625 $23,693
2022 $121,138 $78,348 $2,256,932 $42,790
2021 $139,122 $79,848 $2,214,142 $59,274
2020 $80,080 $72,095 $2,154,868 $7,985
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