The Petersburg Library Foundation … - 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

2002

Legal Domicile

Phone

8047332387

Tax Period

2023-01-01 to 2023-12-31

The Petersburg Library Foundation Inc, founded in 2002, is a small nonprofit in the Education sector that reported $417K in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $81K, a strong 19% operating margin.

Mission

THE MISSION OF THE PETERSBURG LIBRARY FOUNDATION IS TO ENSURE THAT THE CITY OF PETERSBURG HAS A SUPERIOR LIBRARY SYSTEM HAVING EXCELLENT FACILITIES AND PROVIDING QUALITY RESOURCES AND INNOVATIVE SOURCES TO ENHANCE EDUCATIONAL AND CULTURAL OPPORTUNITIES FOR ITS CITIZENS.

Program Service Accomplishments

Program 1

Expenses: $137,000 Revenue: $140,000

This program includes contributions made to PPL, Development Co, Inc. for library Construction Expenditures. This includes Construction Administration Expenditures to the various service providers...

This program includes contributions made to PPL, Development Co, Inc. for library Construction Expenditures. This includes Construction Administration Expenditures to the various service providers. Also, the lease payments for the library building are included in this program expenditure. The annual lease payments total $ 137,000 per year and are paid to PPL Development Co. Inc.

Program 2

Expenses: $136,188

This program includes Petersburg library support programs. This category includes primarily the salary and benefits of an individual who will develop various programs for the libary to offer to the general public. The goal of these programs is to get the community of Petersburg more involved with using the library. Other expenditures for library support programs include items needed for the library such as Christmas decorations, lights, Playstation, Wheelchairs for disabled individuals.

Program 3

Expenses: $31,117 Revenue: $77,526

This program includes the Conference Room and Event Center built for community use. The facility provides space for educational and cultural opportunities for the citizens of Petersburg and the...

This program includes the Conference Room and Event Center built for community use. The facility provides space for educational and cultural opportunities for the citizens of Petersburg and the surrounding area.

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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 $167,113

Program Service Revenue $248,252

Investment Income $0

Other Revenue $1,220

TOTAL REVENUE $416,585

Expense Breakdown

Grants Paid $0

Salaries & Benefits $93,702

Fundraising Expenses $5,502

Program Expenses $304,305

Other Expenses $242,017

TOTAL EXPENSES $335,719

Year-over-Year Comparison

	2023	2022	Change
Revenue	$416,585	$562,325	-0.3%
Expenses	$335,719	$538,254	-0.4%
Net Income	$80,866	$24,071	+2.4%

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

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
Robert C Walker	Chairman	15.00	Officer Director	$0	$0	$0
Ann C Taylor	Vice Chairwoman	5.00	Officer Director	$0	$0	$0
Neila L Gunter	Director	1.00	Director	$0	$0	$0
Wayne M Crocker	Secretary	5.00	Officer Director	$0	$0	$0
Brian A Moore	Chair Emeritus	1.00	Director	$0	$0	$0
Muriel Hawkins	Director	1.00	Director	$0	$0	$0
Willis W Walter	Director	1.00	Director	$0	$0	$0
F Heath Myers Jr	Director	10.00	Director	$0	$0	$0
Anita Wynn	Director	1.00	Director	$0	$0	$0
Joy Burroughs	Treasurer	1.00	Officer Director	$0	$0	$0
Belinda S Piercy	Director	0.00	Director	$0	$0	$0
Kipton Currier	Director	1.00	Director	$0	$0	$0
Yvette G Robinson	Director	1.00	Director	$0	$0	$0
Brittani C Edwards	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	$416,585	$335,719	$263,936	$80,866
2022	$562,325	$538,254	$186,458	$24,071
2021	$1,622,780	$2,327,709	$154,347	$-704,929
2020	$583,776	$9,240,695	$855,421	$-8,656,919
2019	$807,888	$377,426	$9,512,641	$430,462
2018	$295,347	$282,224	$9,135,595	$13,123

The Petersburg Library Foundation Inc