PROVIDENCE PUBLIC LIBRARY FOUNDATION

EIN: 342052912 501(c)(3) Education

PROVIDENCE, RI

Total Revenue
$2,877,997
Total Expenses
$4,036,129
Total Assets
$29,913,990
Net Assets
$29,782,153
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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
2005
Legal Domicile
RI
Principal Officer
AARON PETERMAN
Phone
4014558079
Tax Period
2024-07-01 to 2025-06-30

PROVIDENCE PUBLIC LIBRARY FOUNDATION, founded in 2005, is a community nonprofit in the Education sector that reported $2.9M in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $4.0M exceeded revenue, resulting in a 40% operating deficit.

Mission

TO ENSURE CONTINUED EXCELLENCE IN LIBRARY SERVICES FOR THE PROVIDENCE PUBLIC LIBRARY COMMUNITY BY PROVIDING PRIVATE FUNDING TO ENHANCE PROGRAMS AND SERVICES.

Program Service Accomplishments

Program 1
Expenses: $3,825,428

MANAGED THE INVESTMENTS OF THE ENDOWMENT AND PROVIDED FINANCIAL SUPPORT FOR THE PROVIDENCE PUBLIC LIBRARY.

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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 $1,167
Program Service Revenue $0
Investment Income $2,876,830
Other Revenue $0
TOTAL REVENUE $2,877,997

Expense Breakdown

Grants Paid $3,825,428
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,825,428
Other Expenses $210,701
TOTAL EXPENSES $4,036,129

Year-over-Year Comparison

2024 2023 Change
Revenue $2,877,997 $2,395,473 +0.2%
Expenses $4,036,129 $4,178,292 0.0%
Net Income $-1,158,132 $-1,782,819 -0.4%
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

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Governance

Voting Members
6
Independent Members
6
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
7
$425,592
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTOPHER M STEVENS CHAIR 2.00
Officer Director
$0 $0 $0
RODNEY E LOPEZ VICE CHAIR 2.00
Officer Director
$0 $0 $0
DEREK FARIAS TREASURER 2.00
Officer Director
$0 $0 $0
JUAN WILSON SECRETARY 2.00
Officer Director
$0 $0 $0
KATHLEEN HITTNER MD TRUSTEE 2.00
Director
$0 $0 $0
SALLY P MCDONALD TRUSTEE 2.00
Director
$0 $0 $0
HILLIAS J MARTIN JR EXECUTIVE DIRECTOR 2.50
Officer
$0 $33,648 $188,493
AARON PETERMAN CHIEF OPERATING OFFICER 2.50
Officer
$0 $22,563 $139,561
SHIRLEY FUERTES CONTROLLER 2.50
Officer
$0 $19,237 $97,538
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 $2,877,997 $4,036,129 $29,913,990 $-1,158,132
2024 $2,395,473 $4,178,292 $30,962,785 $-1,782,819
2023 $1,605,588 $3,296,772 $31,738,917 $-1,691,184
2022 $3,076,683 $2,726,618 $32,290,022 $350,065
2021 $2,771,524 $3,843,750 $38,016,143 $-1,072,226
2020 $242,601 $2,850,441 $33,366,961 $-2,607,840
2019 $2,603,067 $2,490,035 $34,877,258 $113,032
2018 $2,209,151 $2,304,249 $35,857,974 $-95,098
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