EAST SMITHFIELD PUBLIC LIBRARY

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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

1958

Legal Domicile

Principal Officer

WARD HARRISON

Phone

4012315150

Tax Period

2022-07-01 to 2023-06-30

EAST SMITHFIELD PUBLIC LIBRARY, founded in 1958, is a small nonprofit that reported $780K in total revenue in fiscal year 2022. Revenue decreased 6% compared to the prior year.

Mission

PROVIDE LIBRARY SERVICES FOR THE TOWN OF EAST SMITHFIELD BASED ON APPROVED TOWN BUDGET

Program Service Accomplishments

Program 1

Expenses: $840,396 Revenue: $769,245

PROVIDE LIBRARY SERVICES FOR THE TOWN OF EAST SMITHFIELD AND SMITHFIELD AREA BASED ON AN APPROVED BUDGET TOWN OF SMITHFIELD APPROPRIATION $587,365; STATE OF RI $176,528 DONATIONS AND FEES $5,352

Program 2

Expenses: $6,510 Revenue: $6,510

ANNUAL WALCOTT OPERATION ENDOWMENT TO BE USED FOR GENERAL LIBRARY DISBURSEMENTS

Program 3

Expenses: $4,278 Revenue: $4,278

FEDERAL GOVERNMENT AMERICAN RESCUE PLAN

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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 (2022)

Revenue Breakdown

Contributions & Grants $778,159

Program Service Revenue $1,814

Investment Income $60

Other Revenue $0

TOTAL REVENUE $780,033

Expense Breakdown

Grants Paid $0

Salaries & Benefits $571,756

Fundraising Expenses $0

Program Expenses $851,184

Other Expenses $279,428

TOTAL EXPENSES $851,184

Year-over-Year Comparison

	2022	2021	Change
Revenue	$780,033	$826,034	-0.1%
Expenses	$851,184	$772,409	+0.1%
Net Income	$-71,151	$53,625	-2.3%

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
WARD HARRISON SR	PRESIDENT	1.00	Officer	$0	$0	$0
MS LUIGIA SOLDA	SECRETARY	1.00	Officer	$0	$0	$0
BARBARA BOURGERY	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH MEADE	DIRECTOR	1.00	Director	$0	$0	$0
CASSANDRA MACDONALD	DIRECTOR	1.00	Director	$0	$0	$0
SHANE GARE	TREASURER	1.00	Officer	$0	$0	$0
KAT JEFFERSON	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA MORONI	VICE PRESIDENT	1.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$780,033	$851,184	$1,004,228	$-71,151
2022	$826,034	$772,409	$1,073,935	$53,625
2021	$878,678	$727,435	$1,101,490	$151,243
2020	$780,905	$690,810	$866,732	$90,095
2019	$732,019	$738,073	$757,189	$-6,054
2018	$683,538	$682,518	$754,878	$1,020