MEMORIAL AND LIBRARY ASSOCIATION OF WESTERLY (EIN 050259005) - Form 990 Financial Analysis & Trantor Score

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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

1892

Legal Domicile

Principal Officer

BRIGITTE HOPKINS

Phone

4015962877

Tax Period

2024-07-01 to 2025-06-30

MEMORIAL AND LIBRARY ASSOCIATION OF WESTERLY, founded in 1892, is a community nonprofit in the Education sector that reported $2.7M in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $3.3M exceeded revenue, resulting in a 22% operating deficit.

Mission

TO MAINTAIN THE WESTERLY LIBRARY, HOXIE GALLERY AND WILCOX PARK, A 15 ACRE ARBORETUM.

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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 $1,588,401

Program Service Revenue $10,760

Investment Income $1,059,976

Other Revenue $74,884

TOTAL REVENUE $2,734,021

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,925,619

Fundraising Expenses $322,311

Program Expenses $2,486,989

Other Expenses $1,412,654

TOTAL EXPENSES $3,338,273

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,734,021	$3,978,420	-0.3%
Expenses	$3,338,273	$3,216,196	+0.0%
Net Income	$-604,252	$762,224	-1.8%

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
DEBORAH BELL	TRUSTEE	0.50	Director	$0	$0	$0
THOMAS F BOLL	TRUSTEE	1.00	Director	$0	$0	$0
PEGGY MURPHY-BRIGHT	EX-OFFICIO	0.50	Director	$0	$0	$0
BETTY-JO CUGINI	TRUSTEE	0.50	Director	$0	$0	$0
PETER B ROBINSON	TREASURER	2.00	Officer Director	$0	$0	$0
JENNIFER OBREY	TRUSTEE	0.75	Director	$0	$0	$0
MOJIE F FRIEL	TRUSTEE	0.50	Director	$0	$0	$0
ANN LAIN	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
COLLEEN SULLIVAN	TRUSTEE	0.50	Director	$0	$0	$0
MARIA BERNIER	SECRETARY	1.00	Officer Director	$0	$0	$0
MARY CAROL KENDZIA	PRESIDENT	1.50	Officer Director	$0	$0	$0
WILLIAM MILLER	TRUSTEE	0.50	Director	$0	$0	$0
MARY SCIALABBA	EX-OFFICIO	0.50	Director	$0	$0	$0
LOUIS TOSCANO	TRUSTEE	0.50	Director	$0	$0	$0
ROBERT GERVASINI	TRUSTEE	1.00	Director	$0	$0	$0
MARY JO GIRARD	TRUSTEE	0.50	Director	$0	$0	$0
DEBORAH HAROLD	TRUSTEE	0.50	Director	$0	$0	$0
GARA LAMARCHE	TRUSTEE	0.50	Director	$0	$0	$0
BEN TAMSKY	EX-OFFICIO	0.50	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	$2,734,021	$3,338,273	$46,850,168	$-604,252
2024	$3,978,420	$3,216,196	$44,405,100	$762,224
2023	$2,135,182	$2,974,378	$40,823,245	$-839,196
2022	$3,083,300	$2,974,224	$38,501,613	$109,076
2021	$2,353,119	$2,926,348	$45,284,648	$-573,229
2020	$2,752,570	$2,860,809	$38,334,448	$-108,239
2019	$9,076,223	$2,863,391	$38,658,782	$6,212,832
2018	$5,578,143	$2,747,864	$33,240,746	$2,830,279

MEMORIAL AND LIBRARY ASSOCIATION OF WESTERLY