Latta Library Foundation Inc

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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

2021

Legal Domicile

Principal Officer

Harold Kornblut

Phone

8437525901

Tax Period

2025-01-01 to 2025-12-31

Latta Library Foundation Inc, founded in 2021, is a small nonprofit in the Education sector that reported $139K in total revenue in fiscal year 2025. The organization ran a surplus of $113K, a strong 81% operating margin.

Mission

Construct Reading Room and Renovate Historic Carnegie Library utw of Frank M McMillian deceased.

Program Service Accomplishments

Program 1

Expenses: $565 Revenue: $138,951

Construct Child and Adolescent readng room at historic Latta Library - one of the last Carnigie Libraries Built in US as directed under the will of Francis Marion McMillian deceased and Wells Fargo Trust as administrator. The project is complete and awaiting certificate of occupancy from Dillon County code enforcement. Expected in Quarter 1 2026

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $138,952

Other Revenue $0

TOTAL REVENUE $138,952

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $565

Other Expenses $26,381

TOTAL EXPENSES $26,381

Year-over-Year Comparison

	2025	2024	Change
Revenue	$138,952	$137,399	+0.0%
Expenses	$26,381	$33,674	-0.2%
Net Income	$112,571	$103,725	+0.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
Gayle Coleman	Board Member	Director	$0	$0	$0
Vickie Graham	Board Member	Director	$0	$0	$0
LaaFon Legette	Board Member	Director	$0	$0	$0
Dewitt Coleman	Board Member	Director	$0	$0	$0
Fred Ellis	President	Officer	$0	$0	$0
Harold Kornblut	Treasurer	Officer	$0	$0	$0
Dorothy Gaddy	Secretary	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
2025	$138,952	$26,381	$2,800,608	$112,571
2024	$234,071	$28,387	$2,679,341	$205,684
2023	$137,699	$33,674	$2,432,150	$104,025
2022	$74,187	$60,601	$2,353,809	$13,586
2021	No data	$74,939	$2,744,976	No data