Watch Hill Memorial Library and Improvement Society

EIN: 237258669 501(c)(3) Arts, Culture & Humanities

Westerly, RI

Total Revenue
$82,153
Total Expenses
$58,274
Total Assets
$1,134,531
Net Assets
$1,134,531
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1889
Legal Domicile
RI
Principal Officer
Kathleen Whittemore
Phone
4013485089
Tax Period
2024-05-01 to 2025-04-30

Watch Hill Memorial Library and Improvement Society, founded in 1889, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $82K in total revenue in fiscal year 2024. Revenue surged 134% from the prior year, signaling strong growth momentum. The organization ran a surplus of $24K, a strong 29% operating margin.

Mission

To develop, improve and beautify the Village of Watch Hill, to secure public health and cultivate public spirit as well as to quicken the social and intellectual life of the people. To lessen the burden of government in preserving Watch Hill history, as well as to better the general condition and appearance of the Village, along with maintaining the Library in the Memorial Building.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $59,321
Program Service Revenue $0
Investment Income $0
Other Revenue $22,832
TOTAL REVENUE $82,153

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $305
Program Expenses $56,850
Other Expenses $58,274
TOTAL EXPENSES $58,274

Year-over-Year Comparison

2024 2023 Change
Revenue $82,153 $35,149 +1.3%
Expenses $58,274 $54,680 +0.1%
Net Income $23,879 $-19,531 -2.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
40

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
4
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Moya Saunders Vice President 2.00
Officer Director
$0 $0 $0
Kathleen Whittemore President 3.00
Officer Director
$0 $0 $0
Gail Reynolds Vice President 1.00
Officer Director
$0 $0 $0
Susan Burke O'Neal Director 1.00
Director
$0 $0 $0
Lauren Corrinet Treasurer 2.00
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
2025 $82,153 $58,274 $1,134,531 $23,879
2024 $35,149 $54,680 $1,110,652 $-19,531
2023 $97,567 $89,315 $1,130,183 $8,252
2022 $31,610 $83,163 $1,121,931 $-51,553
2021 $11,370 $30,236 $1,173,484 $-18,866
2020 $57,028 $65,674 $1,192,350 $-8,646
2019 $74,458 $68,407 $1,200,996 $6,051
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