FRIENDS OF THE CORONA PUBLIC LIBRA… - 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

1995

Legal Domicile

Principal Officer

GRETCHEN DOUGHTY

Phone

9518082119

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF THE CORONA PUBLIC LIBRARY, founded in 1995, is a small nonprofit in the Education sector that reported $140K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $134K left a modest 4% surplus.

Mission

The organization's purpose is to promote reading and literacy through its support of the Corona Public Library.

Program Service Accomplishments

Program 1

Expenses: $9,098

The organization maintains exhibits at the Corona Public Library.

Program 2

Expenses: $81,797 Revenue: $7,257

The organization sponsors various programs to promote literacy and reading.

Program 3

Expenses: $36,531

The organization supports the Corona Public Library Children's Reading Program.

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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 $74,076

Program Service Revenue $7,257

Investment Income $2,752

Other Revenue $55,481

TOTAL REVENUE $139,566

Expense Breakdown

Grants Paid $19,468

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $128,146

Other Expenses $114,998

TOTAL EXPENSES $134,466

Year-over-Year Comparison

	2023	2022	Change
Revenue	$139,566	$128,774	+0.1%
Expenses	$134,466	$52,471	+1.6%
Net Income	$5,100	$76,303	-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

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
GRETCHEN DOUGHTY	PRESIDENT	5.00	Officer Director	$0	$0	$0
TERRI S JAGGERS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ROBIN HOKLOTUBBE	SECRETARY	1.00	Officer Director	$0	$0	$0
CHERISE LEONARD	TREASURER	5.00	Officer Director	$0	$0	$0
JAN ARMIJO	MEMBER AT LARGE	1.00	Director	$0	$0	$0
RUTH HEINEMAN	MEMBER AT LARGE	1.00	Director	$0	$0	$0
DOTTIE LAIRD	MEMBER AT LARGE	1.00	Director	$0	$0	$0
JACQUELYN YOUNG	MEMBER AT LARGE	1.00	Director	$0	$0	$0
KATHY WRIGHT	MEMBER AT LARGE	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
2025	No data	No data	No data	No data
2024	$139,566	$134,466	$561,868	$5,100
2023	$128,774	$52,471	$556,768	$76,303
2022	$160,098	$56,738	$480,465	$103,360
2021	$44,619	$74,464	$377,105	$-29,845
2020	$102,672	$62,529	$406,950	$40,143
2019	$157,071	$128,060	$366,807	$29,011

FRIENDS OF THE CORONA PUBLIC LIBRARY