KENT LIBRARY ASSOCIATION INC (EIN 060787760) - 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

1914

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

KENT LIBRARY ASSOCIATION INC, founded in 1914, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 227% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 75% operating margin.

Mission

THE PURPOSE OF THE KENT LIBRARY ASSOCIATION IS TO PROVIDE THE RESOURCES NEEDED TO ENSURE THAT THE KENT MEMORIAL LIBRARY ACCOMPLISHES AND ADHERES TO ITS MISSION OF ENRICHING THE COMMUNITY BY PROVIDING MATERIALS, PROGRAMS AND SERVICES TO ENCOURAGE READING, LEARNING AND IMAGINATION

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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 $1,455,920

Program Service Revenue $7,930

Investment Income $53,635

Other Revenue $98,184

TOTAL REVENUE $1,615,669

Expense Breakdown

Grants Paid $0

Salaries & Benefits $255,280

Fundraising Expenses $62,127

Program Expenses $281,746

Other Expenses $153,554

TOTAL EXPENSES $408,834

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,615,669	$494,020	+2.3%
Expenses	$408,834	$364,587	+0.1%
Net Income	$1,206,835	$129,433	+8.3%

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

125

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
SHARON NORTON	DIRECTOR	0.50	Director	$0	$0	$0
RUTH OMEARA	DIRECTOR	0.50	Director	$0	$0	$0
RUDY MOLHO	DIRECTOR	0.50	Director	$0	$0	$0
YUJUNG KIM	DIRECTOR	0.50	Director	$0	$0	$0
MICHAELA LAWRENCE	DIRECTOR	0.50	Director	$0	$0	$0
RICK VIZZARI	DIRECTOR	0.50	Director	$0	$0	$0
JOHN YOUNGBLOOD	DIRECTOR	0.50	Director	$0	$0	$0
DANA SLAUGHTER	DIRECTOR	0.50	Director	$0	$0	$0
ERIC ROPER	DIRECTOR	0.50	Director	$0	$0	$0
JULIE SAXTON	DIRECTOR	0.50	Director	$0	$0	$0
JEE MEE KIM	DIRECTOR	0.50	Director	$0	$0	$0
JANETTE BORNN	DIRECTOR	0.50	Director	$0	$0	$0
JIM BLACKKETTER	DIRECTOR	0.50	Director	$0	$0	$0
SAMUEL CALLAWAY	DIRECTOR	0.50	Director	$0	$0	$0
ELLEN HOROVITZ	DIRECTOR	0.50	Director	$0	$0	$0
ELLEN GUTIERREZ	DIRECTOR	0.50	Director	$0	$0	$0
JANET RIVKIN	CO-VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
SHARON HARTWICK	CO-VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
SARAH MARSHALL	LIBRARY DIRECTOR	40.00	Officer Director	$0	$0	$0
JOHN WALKER	TREASURER	10.00	Officer Director	$0	$0	$0
SANDRA EDELMAN	PRESIDENT	10.00	Officer Director	$0	$0	$0
CAROL LINN	SECRETARY	5.00	Officer 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
2024	No data	No data	No data	No data
2023	$1,615,669	$408,834	$2,823,413	$1,206,835
2022	$494,020	$364,587	$1,545,952	$129,433
2021	$677,404	$370,327	$1,571,649	$307,077
2020	$405,931	$386,544	$1,286,220	$19,387
2019	$498,724	$364,999	$1,130,365	$133,725
2018	$377,099	$340,263	$919,080	$36,836

KENT LIBRARY ASSOCIATION INC