MOUNT VERNON LIBRARY FOUNDATION

EIN: 273319412 501(c)(3) Education

MOUNT VERNON, WA

Total Revenue
$317,532
Total Expenses
$132,767
Total Assets
$258,439
Net Assets
$258,179
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
WA
Principal Officer
SUZANNE BUTLER
Phone
3603360163
Tax Period
2023-01-01 to 2023-12-31

MOUNT VERNON LIBRARY FOUNDATION, founded in 2022, is a small nonprofit in the Education sector that reported $318K in total revenue in fiscal year 2023. The organization ran a surplus of $185K, a strong 58% operating margin.

Mission

THE MOUNT VERNON LIBRARY FOUNDATIONS PRINCIPAL MISSION IS TO FOSTER COMMUNITY SUPPORT FOR THE LIBRARY, ITS BOARD, AND ITS STAFF.

Program Service Accomplishments

Program 1
Expenses: $126,535 Revenue: $0

2023 WAS A YEAR OF PLANNING AND FUNDRAISING. THE CITY HIRED A PROFESSIONAL FUND RAISER THE FIRST PART OF THE YEAR WHO HELPED US ORGANIZE AND CARRY OUT FUND RAISING PROJECTS. SHE ORGANIZED A CAPITOL...

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2023 WAS A YEAR OF PLANNING AND FUNDRAISING. THE CITY HIRED A PROFESSIONAL FUND RAISER THE FIRST PART OF THE YEAR WHO HELPED US ORGANIZE AND CARRY OUT FUND RAISING PROJECTS. SHE ORGANIZED A CAPITOL CAMPAIGN COMMITTEE TO HELP ASK FOR FUNDS. WE FOUND DONORS WHO WOULD MATCH LIBRARY GIVING DAY CAMPAIGNS WHICH GARNERED ABOUT $24,000 IN THE SPRING AND $16,000 AT THE END OF THE YEAR. FOUNDATION BOARD MEMBERS HELPED WRITE AND EDIT GRANTS SEVERAL OF WHICH WERE VERY SUCCESSFUL. WE PUBLISHED NEW BROCHURES TO SHOW OFF PLANS FOR THE NEW BUILDING TO ENCOURAGE EXCITEMENT ABOUT THE PROJECT. TO ESTABLISH GOOD WILL IN THE COMMUNITY, WE HELPED SUPPORT A DONOR WALL PROJECT GIVING MANY INDIVIDUALS, FAMILIES, BUSINESS, AND ORGANIZATIONS AN OPPORTUNITY TO ADD THEIR NAMES TO THIS ONE-OF-A-KIND PROJECT. A CAMPAIGN TO HONOR A BELOVED FORMER MAYOR BROUGHT IN OVER $25,000. WE STARTED TO MAKE PLANS FOR AN AUTHOR EVENT TO BE HELD NEXT YEAR. THE LOCAL MEDICAL COMMUNITY WAS INVITED TO A SUMMER AFTERNOON EVENT WHICH RAISED $33,000. OUR ANNUAL MEETING, WHICH WAS OPEN TO THE PUBLIC, FEATURED A PROGRAM ABOUT THE MOUNT VERNON LIBRARY COMMONS PROJECT. IT OPENED OUR COMMUNITYS EYES TO THE EMORMITY OF THE UNDERTAKING. THE MOUNT VERNON LIBRARY FOUNDATION CONTINUED TO SUPPORT LIBRARY STAFF TO CREATE PROGRAMS FOR ALL AGES THAT LAY OUTSIDE THEIR ANNUAL BUDGET. THEY CAME UP WITH A FESTIVAL FOR CHILDREN AND THEIR FAMILIES, DIA, IN A LOCAL PARK AND A SPANISH LANGUAGE BOOK CLUB TO WHICH WE GAVE MONEY. WE WERE GENEROUS WITH MONEY FOR BOOK GIVEAWAYS AND PRIZES FOR DIFFERENT PROJECTS DURING THE YEAR. KIDS RECEIVED FREE BOOKS AT DIA AND THE SUMMER READING PROGRAMS. WE SUBSIDIZED MANY PROGRAMS FOR ALL AGES THAT FEATURED GUEST SPEAKERS FROM OUR COMMUNITY FROM FARTHER AWAY.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $317,532
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $317,532

Expense Breakdown

Grants Paid $120,428
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $126,535
Other Expenses $12,339
TOTAL EXPENSES $132,767

Year-over-Year Comparison

2023 2022 Change
Revenue $317,532 $318,462 0.0%
Expenses $132,767 $267,485 -0.5%
Net Income $184,765 $50,977 +2.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
7
Employees
N/A
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
4
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUZANNE BUTLER PRESIDENT 2.00
Officer Director
$0 $0 $0
CYRENE WELLS VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
CATHY PFAHL SECRETARY 1.50
Officer Director
$0 $0 $0
MARIJA ANDERSON TREASURER 2.00
Officer Director
$0 $0 $0
MARYANNE WARD DIRECTOR 1.00
Director
$0 $0 $0
KATY ARMAGOST DIRECTOR 1.00
Director
$0 $0 $0
LYN BISHOP DIRECTOR 1.00
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 $317,532 $132,767 $258,439 $184,765
2022 $318,462 $267,485 No data $50,977
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