JESSE M SMITH MEMORIAL 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

1934

Legal Domicile

Principal Officer

BETH ULLUCCI

Phone

4017107800

Tax Period

2024-07-01 to 2025-06-30

JESSE M SMITH MEMORIAL LIBRARY, founded in 1934, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.1M left a modest 9% surplus.

Mission

TO SERVE AS A FULL SERVICE PUBLIC LIBRARY.

Program Service Accomplishments

Program 1

Expenses: $977,498 Revenue: $8,301

TO PROVIDE FREE LIBRARY SERVICES TO RESIDENTS OF BURRILLVILLE, RI AND THE GREATER RHODE ISLAND COMMUNITY INCLUDING BUT NOT LIMITED TO CIRCULATION OF MATERIALS, REFERENCE SERVICES, COMPUTER/INTERNET ACCESS, NETWORKING WITH OTHER LIBRARIES FOR INTER-LIBRARY LOANS, PROGRAMMING AND EDUCATIONAL DISPLAYS FOR CHILDREN, YOUNG ADULTS, ADULTS AND SENIORS.

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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 $1,233,379

Program Service Revenue $8,301

Investment Income $259

Other Revenue $0

TOTAL REVENUE $1,241,939

Expense Breakdown

Grants Paid $0

Salaries & Benefits $835,862

Fundraising Expenses $0

Program Expenses $977,498

Other Expenses $297,320

TOTAL EXPENSES $1,133,182

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,241,939	$1,137,913	+0.1%
Expenses	$1,133,182	$1,057,826	+0.1%
Net Income	$108,757	$80,087	+0.4%

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

$116,285

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANGELA KNAPP-LEVESQUE	PRESIDENT	2.00	Director	$0	$0	$0
BETHANY LAMBERT	TREASURER	2.00	Director	$0	$0	$0
MELANIE PAGE	SECRETARY	2.00	Director	$0	$0	$0
DAWN WILLIAMS	TRUSTEE	2.00	Director	$0	$0	$0
LYNN FOURNIER	TRUSTEE	2.00	Director	$0	$0	$0
BETH ULLUCCI	LIBRARY DIRECTOR	35.00	Director	$85,253	$31,032	$116,285

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	$1,241,939	$1,133,182	$803,794	$108,757
2024	No data	No data	No data	No data
2023	$1,104,561	$1,060,155	$627,934	$44,406
2022	$1,042,707	$982,333	$583,559	$60,374
2021	$1,030,009	$901,444	$516,322	$128,565
2020	$995,203	$933,399	$415,658	$61,804
2019	$965,128	$935,441	$355,572	$29,687
2018	$947,342	$897,192	$290,270	$50,150