GROSSE POINTE LIBRARY FOUNDATION

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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

2003

Legal Domicile

Principal Officer

ANDREW SPEARMAN

Phone

3136404683

Tax Period

2024-07-01 to 2025-06-30

GROSSE POINTE LIBRARY FOUNDATION, founded in 2003, is a small nonprofit in the Education sector that reported $386K in total revenue in fiscal year 2024. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $358K left a modest 7% surplus.

Mission

TO PROMOTE EDUCATIONAL AND LITERACY PURPOSES OF THE GROSSE POINTE PUBLIC LIBRARY BY SOLICITING AND ADMINISTERING FUNDS.

Program Service Accomplishments

Program 1

TO PROMOTE EDUCATIONAL AND LITERACY PURPOSES OF THE GROSSE POINTE PUBLIC PUBLIC LIBRARY BY SOLICITING AND ADMINISTERING FUNDS.

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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 $206,348

Program Service Revenue $0

Investment Income $33,098

Other Revenue $146,577

TOTAL REVENUE $386,023

Expense Breakdown

Grants Paid $0

Salaries & Benefits $33,326

Fundraising Expenses $23,131

Program Expenses $299,492

Other Expenses $324,966

TOTAL EXPENSES $358,292

Year-over-Year Comparison

	2024	2023	Change
Revenue	$386,023	$850,800	-0.5%
Expenses	$358,292	$186,655	+0.9%
Net Income	$27,731	$664,145	-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

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
MINDY BARRY	DIRECTOR	N/A	Director	$0	$0	$0
GREG BOWENS	DIRECTOR	N/A	Director	$0	$0	$0
ANNETTE CATALDI	SECRETARY	N/A	Officer Director	$0	$0	$0
NANCY GANDELOT	DIRECTOR	N/A	Director	$0	$0	$0
NORAH LAPOLLA	DIRECTOR	N/A	Director	$0	$0	$0
SUSAN LARSEN	DIRECTOR	N/A	Director	$0	$0	$0
SANDY MACMECHAN	DIRECTOR	N/A	Director	$0	$0	$0
LAUREN MCGREGOR	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
JENI NAZARKO	DIRECTOR	N/A	Director	$0	$0	$0
PAUL RENTENBACH	DIRECTOR	N/A	Director	$0	$0	$0
CARLY RUSSELL	DIRECTOR	N/A	Director	$0	$0	$0
ANDREW SPEARMAN	PRESIDENT	N/A	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
2025	$386,023	$358,292	$1,756,277	$27,731
2024	$850,800	$186,655	$1,726,200	$664,145
2023	$228,294	$162,976	$1,061,331	$65,318
2022	$67,668	$469,112	$999,478	$-401,444
2021	$390,912	$125,517	$1,396,336	$265,395
2020	$168,742	$128,831	$1,131,859	$39,911