FRIENDS OF THE PALACIOS LIBRARY INC

EIN: 760268882 501(c)(3)

PALACIOS, TX

Total Revenue
$250,543
Total Expenses
$232,455
Total Assets
$32,689
Net Assets
$32,689
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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
1989
Legal Domicile
TX
Phone
6319723234
Tax Period
2023-01-01 to 2023-12-31

FRIENDS OF THE PALACIOS LIBRARY INC, founded in 1989, is a small nonprofit that reported $251K in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $232K left a modest 7% surplus.

Mission

SUPPORT THE PALACIOS LIBRARY AND THEIR SCHOOL RELATED ACTIVITIES

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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 (2023)

Revenue Breakdown

Contributions & Grants $162,000
Program Service Revenue $0
Investment Income $4,010
Other Revenue $84,533
TOTAL REVENUE $250,543

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $231,411
Other Expenses $232,455
TOTAL EXPENSES $232,455

Year-over-Year Comparison

2023 2022 Change
Revenue $250,543 $183,410 +0.4%
Expenses $232,455 $33,000 +6.0%
Net Income $18,088 $150,410 -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

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Governance

Voting Members
4
Independent Members
4
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
4
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANA CARTWRIGHT PRESIDENT 1.00
Officer
$0 $0 $0
JIM MEYN VICE-PRESIDENT 0.25
Officer
$0 $0 $0
KAREN LAWS TREASURER 1.00
Officer
$0 $0 $0
KARA TIPS SECRETARY 0.25
Officer
$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
2023 $250,543 $232,455 $32,689 $18,088
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