PENINSULA LIBRARY FOUNDATION

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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

1993

Legal Domicile

Principal Officer

STEVE BACKHURST

Phone

3306572291

Tax Period

2023-01-01 to 2023-12-31

PENINSULA LIBRARY FOUNDATION, founded in 1993, is a small nonprofit that reported $292K in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $239K, a strong 82% operating margin.

Mission

THE PENINSULA LIBRARY FOUNDATION, A FUNCTIONALLY INTEGRATED BUT INDEPENDENTLY ORGANIZED ENTITY OPERATED BY VOLUNTEERS SERVING AS ITS BOARD OF TRUSTEEES, EXITS SOLELY TO SUPPORT THE PENINSULA LIBRARY HISTORICAL SOCIETY PLHS, THROUGH A MANAGED ENDOWMENT FUND.

Program Service Accomplishments

Program 1

Expenses: $27,756

THE PENINSULA LIBRARY FOUNDATION SOLICITED AND ACCEPTED DONATIONS TO BUILD ITS ENDOWMENT FND WHICH DIRECTLY SUPPORTS THE PENINSULA LIBRARY FOUNDATION, AS RESPONSIBLE STEWARDS OF THE FOUNDATIONS...

THE PENINSULA LIBRARY FOUNDATION SOLICITED AND ACCEPTED DONATIONS TO BUILD ITS ENDOWMENT FND WHICH DIRECTLY SUPPORTS THE PENINSULA LIBRARY FOUNDATION, AS RESPONSIBLE STEWARDS OF THE FOUNDATIONS RESOURCES AND TO FULFILL ITS MISSION, THE FOUNDATION BOARD REGULARLY REVIEWED INVESTMENT PERFORMANCE AND MET WITH INVESTMENT ADVISORS. FOLLOWING A BOARD-APPROVED DISTRIBUTION POLICY, THE FOUNDATION BOARD PROVIDED SUPPORT FOR THE PENINSULA LIBRARY HISTORICAL SOCIETY. SINCE 2010 THE FOUNDATION HAS PROVIDED 204,862.20 TO THE PENINSULA LIBRARY HISOTRICAL SOCIETY IN TEN ANNUAL DISBURSEMENTS. THIS YEAR, THE FOUNDATION AGREED TO SUPPORT THE PENINSULA LIBRARY HISTORICAL SOCIETYS CAPITAL IMPROVEMENTS PROJECT AND ENCOURAGED MEMBERS OF THE COMMUNITY TO DONATE DIRECTLY TO THIS MUCH NEEDED LIBRARY RENOVATION.

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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 $210,581

Program Service Revenue $0

Investment Income $81,806

Other Revenue $0

TOTAL REVENUE $292,387

Expense Breakdown

Grants Paid $25,956

Salaries & Benefits $0

Fundraising Expenses $1,800

Program Expenses $27,756

Other Expenses $27,571

TOTAL EXPENSES $53,527

Year-over-Year Comparison

	2023	2022	Change
Revenue	$292,387	$203,677	+0.4%
Expenses	$53,527	$47,470	+0.1%
Net Income	$238,860	$156,207	+0.5%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHERINE TIMKO	VICE PRESIDENT	001.00	Officer Director	$0	$0	$0
MICHAEL DUFF	DIRECTOR	001.00	Officer Director	$0	$0	$0
STEVE BACKHURST	DIRECTOR	001.00	Officer Director	$0	$0	$0
DAWN CANDA	SECRETARY	001.00	Officer Director	$0	$0	$0
DELORES QUINN	TREASURER	001.00	Officer Director	$0	$0	$0
NICHOLAS BELLUARDO	PRESIDENT	001.00	Officer Director	$0	$0	$0
TARA SCHULTZ	DIRECTOR	001.00	Officer Director	$0	$0	$0
PENINSULA LIBRARY HISTORICAL SOCIET	INSTITUTIONAL TRUSTEE	N/A		$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
2023	$292,387	$53,527	$2,468,040	$238,860
2022	$203,677	$47,470	$1,975,778	$156,207
2021	$247,267	$46,120	$2,231,249	$201,147
2020	$229,829	$41,182	$1,885,268	$188,647
2019	$195,968	$32,017	$1,597,734	$163,951
2018	$226,481	$35,666	$1,284,661	$190,815