WESTPORT LIBRARY ASSOCIATION INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1907

Legal Domicile

Principal Officer

WILLIAM HARMER

Phone

2032914801

Tax Period

2024-07-01 to 2025-06-30

WESTPORT LIBRARY ASSOCIATION INC, founded in 1907, is a community nonprofit in the Education sector that reported $8.4M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Net assets of $29.0M represent 41 months of operating reserves.

Mission

THE WESTPORT LIBRARY WAS ESTABLISHED FOR THE PURPOSE OF MAINTAINING A PUBLIC LIBRARY IN THE TOWN OF WESTPORT, CONNECTICUT. THE LIBRARY IS COMMITTED TO EMPOWERING THE INDIVIDUAL AND STRENGTHENING THE COMMUNITY THROUGH DYNAMIC INTERACTION AND THE LIVELY EXCHANGE OF IDEAS.

Program Service Accomplishments

Program 1

Expenses: $6,566,477 Revenue: $666,721

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,941,078

Program Service Revenue $623,504

Investment Income $390,749

Other Revenue $449,914

TOTAL REVENUE $8,405,245

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,050,625

Fundraising Expenses $408,040

Program Expenses $6,566,477

Other Expenses $3,292,027

TOTAL EXPENSES $8,342,652

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,405,245	$7,761,969	+0.1%
Expenses	$8,342,652	$7,961,369	+0.0%
Net Income	$62,593	$-199,400	-1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

129

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

$426,434

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAT WIESER	PRESIDENT	4.00	Officer Director	$0	$0	$0
ROBERT BOROUJERDI	SENIOR VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
SHERI GORDON	SECRETARY (AS OF 11/24)	4.00	Officer Director	$0	$0	$0
MELISSA BANKS	SECRETARY (UNTIL 11/24)	4.00	Officer Director	$0	$0	$0
BEN CHAN	TREASURER (AS OF 07/24)	4.00	Officer Director	$0	$0	$0
PETER ZAKOWICH	BOARD MEMBER	4.00	Director	$0	$0	$0
ANNA ALEMANI	BOARD MEMBER	4.00	Director	$0	$0	$0
SCOTT BENNEWITZ	BOARD MEMBER	4.00	Director	$0	$0	$0
ANDREA BERKLEY	BOARD MEMBER	4.00	Director	$0	$0	$0
DAVE BRIGGS	BOARD MEMBER	4.00	Director	$0	$0	$0
BRUCE GAYLORD	BOARD MEMBER	4.00	Director	$0	$0	$0
KATHLEEN GUION	BOARD MEMBER	4.00	Director	$0	$0	$0
RANDY HERBERTSON	BOARD MEMBER	4.00	Director	$0	$0	$0
CELESTE LACROIX	BOARD MEMBER	4.00	Director	$0	$0	$0
JAY NORRIS	BOARD MEMBER	4.00	Director	$0	$0	$0
KRISHNA PATEL	BOARD MEMBER	4.00	Director	$0	$0	$0
JEREMY PRICE	BOARD MEMBER	4.00	Director	$0	$0	$0
MARK SILVERSTEIN	BOARD MEMBER	4.00	Director	$0	$0	$0
MARTINA SZE	BOARD MEMBER	4.00	Director	$0	$0	$0
LIZA VAN GUNDY	BOARD MEMBER	4.00	Director	$0	$0	$0
ANDREW WILK	BOARD MEMBER (UNTIL 01/25)	4.00	Director	$0	$0	$0
WILLIAM HARMER	EXECUTIVE DIRECTOR	35.00	Officer	$227,019	$43,461	$270,480
MERYL KAPLAN	DIRECTOR OF FINANCE & HR ADMINISTRATION	35.00	Officer	$125,108	$30,846	$155,954
EDWARD CRAWFORD	DIRECTOR OF MARKETING	35.00	Highest	$129,323	$38,564	$167,887
ALEX GIANNINI	DIRECTOR OF PROGRAMS	35.00	Highest	$115,336	$30,267	$145,603
MELANIE MYERS	CHIEF OF STAFF	35.00	Highest	$149,685	$39,620	$189,305
MARY PARMELEE	DIRECTOR OF YOUTH SERVICES	35.00	Highest	$116,717	$30,736	$147,453
LYNN PERRIGO	LIBRARIAN	35.00	Highest	$113,615	$18,973	$132,588

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	$8,405,245	$8,342,652	$29,622,550	$62,593
2024	$7,761,969	$7,961,369	$29,363,625	$-199,400
2023	$8,374,532	$7,985,538	$26,449,784	$388,994
2022	$6,108,239	$6,955,577	$25,355,675	$-847,338
2021	$7,094,016	$6,870,381	$27,522,269	$223,635
2020	$6,212,242	$7,300,393	$27,558,117	$-1,088,151
2019	$11,636,570	$6,179,686	$29,084,318	$5,456,884