Library Foundation of Martin County (EIN 650315112) - 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

1992

Legal Domicile

Principal Officer

MICHAEL KENNY

Tax Period

2022-10-01 to 2023-09-30

Library Foundation of Martin County, founded in 1992, is a small nonprofit in the Education sector that reported $575K in total revenue in fiscal year 2022. Revenue fell 60% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $86K, a strong 15% operating margin.

Mission

FOUNDED IN 1992, THE LIBRARY FOUNDATION OF MARTIN COUNTY IS A MEMBERSHIP-BASED ORGANIZATION THAT SOLICITS DONATIONS FROM INDIVIDUALS, BUSINESSES AND FOUNDATIONS TO SUPPORT AND ADVANCE THE PROGRAMS, SERVICES AND FACILITIES OF THE MARTIN COUNTY LIBRARY SYSTEM.

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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 (2022)

Revenue Breakdown

Contributions & Grants $343,072

Program Service Revenue $0

Investment Income $235,041

Other Revenue $-3,082

TOTAL REVENUE $575,031

Expense Breakdown

Grants Paid $0

Salaries & Benefits $170,966

Fundraising Expenses $45,289

Program Expenses $396,107

Other Expenses $317,810

TOTAL EXPENSES $488,776

Year-over-Year Comparison

	2022	2021	Change
Revenue	$575,031	$1,448,095	-0.6%
Expenses	$488,776	$418,070	+0.2%
Net Income	$86,255	$1,030,025	-0.9%

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

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

$103,791

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL KENNY	CHIEF EXECUTIVE OFFICER	40.00	Officer	$103,791	$0	$103,791
KHERRI ANDERSON	DIRECTOR	0.20	Director	$0	$0	$0
PREETHI SEKHARAN	DIRECTOR	0.20	Director	$0	$0	$0
KEITH GARDERE	TREASURER	2.10	Officer Director	$0	$0	$0
PATRICIA DITMARS	SECRETARY	2.10	Officer Director	$0	$0	$0
KAREN JOHNSON	CHAIR	2.10	Officer 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	$575,031	$488,776	$3,818,243	$86,255
2022	$1,448,095	$418,070	$3,622,151	$1,030,025
2021	$466,064	$363,427	$3,292,166	$102,637
2020	$405,855	$344,564	$2,847,668	$61,291
2019	$426,364	$381,962	$2,618,301	$44,402
2018	$412,173	$373,327	$2,513,629	$38,846

Library Foundation of Martin County