LITCHFIELD PARK LIBRARY ASSOCIATIO… - 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

1969

Legal Domicile

Phone

6239355053

Tax Period

2020-01-01 to 2020-12-31

LITCHFIELD PARK LIBRARY ASSOCIATION INC, founded in 1969, is a micro nonprofit that reported $14K in total revenue in fiscal year 2020. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $138K exceeded revenue, resulting in a 855% operating deficit.

Mission

TO OWN AND MAINTAIN THE FLORENCE BRINTON LITCHFIELD LIBRARY BUILDING AND EQUIPMENT.

Program Service Accomplishments

Program 1

Expenses: $103,327

TO MAINTAIN THE FLORENCE BRINON LITCHFIELD LIBRARY BUILDING AND EQUIPMENT USED BY APPROXIMATELY 28,500 REGISTERED LIBRARY CARDHOLDERS FROM AT LEAST 10 COMMUNITIES. MONTHLY VISITS AVERAGE 19,600...

TO MAINTAIN THE FLORENCE BRINON LITCHFIELD LIBRARY BUILDING AND EQUIPMENT USED BY APPROXIMATELY 28,500 REGISTERED LIBRARY CARDHOLDERS FROM AT LEAST 10 COMMUNITIES. MONTHLY VISITS AVERAGE 19,600 PATRONS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $2,590

Program Service Revenue $0

Investment Income $11,841

Other Revenue $0

TOTAL REVENUE $14,431

Expense Breakdown

Grants Paid $0

Salaries & Benefits $74,072

Fundraising Expenses $0

Program Expenses $103,327

Other Expenses $63,693

TOTAL EXPENSES $137,765

Year-over-Year Comparison

	2020	2019	Change
Revenue	$14,431	$57,163	-0.7%
Expenses	$137,765	$163,127	-0.2%
Net Income	$-123,334	$-105,964	+0.2%

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
WILLIAM SPROULL	Director	0.00	Director	$0	$0	$0
RICHARD HUGHES	President	5.00	Officer	$0	$0	$0
JASON SLADE	Vice President	0.00	Officer	$0	$0	$0
NONA LADRA	Secretary	0.00	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
2020	$14,431	$137,765	$587,067	$-123,334

LITCHFIELD PARK LIBRARY ASSOCIATION INC