CLEVELAND PUBLIC LIBRARY FOUNDATION (EIN 346565428) - 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

1957

Legal Domicile

Principal Officer

SAMUEL WRIGHT III

Phone

2166232821

Tax Period

2024-01-01 to 2024-12-31

CLEVELAND PUBLIC LIBRARY FOUNDATION, founded in 1957, is a small nonprofit in the Education sector that reported $594K in total revenue in fiscal year 2024. Revenue fell 70% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 222% operating deficit.

Mission

CLEVELAND PUBLIC LIBRARY FOUNDATION'S MISSION IS TO RAISE PHILANTHROPIC AND ADVOCACY SUPPORT FOR THE CLEVELAND 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $506,561

Program Service Revenue $50,766

Investment Income $36,945

Other Revenue $0

TOTAL REVENUE $594,272

Expense Breakdown

Grants Paid $1,741,967

Salaries & Benefits $0

Fundraising Expenses $19,973

Program Expenses $1,835,083

Other Expenses $168,893

TOTAL EXPENSES $1,910,860

Year-over-Year Comparison

	2024	2023	Change
Revenue	$594,272	$1,993,829	-0.7%
Expenses	$1,910,860	$409,740	+3.7%
Net Income	$-1,316,588	$1,584,089	-1.8%

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
LARESE PURNELL	PRESIDENT	0.50	Officer Director	$0	$0	$0
DOROTHY BAUNACH	VICE PRESIDE	0.30	Officer Director	$0	$0	$0
SAMUEL WRIGHT III	TREASURER	0.30	Officer Director	$0	$0	$0
ERIN DEIMLING	SECRETARY	0.30	Officer Director	$0	$0	$0
ADAM GIMBEL	DIRECTOR	0.20	Director	$0	$0	$0
ALLEN DENGLER	DIRECTOR	0.20	Director	$0	$0	$0
BRIAN BROADUS	DIRECTOR	0.20	Director	$0	$0	$0
CECIL LIPSCOMB	DIRECTOR	0.20	Director	$0	$0	$0
CHRIS KAISER	DIRECTOR	0.20	Director	$0	$0	$0
CHRISTINE MILLEN	DIRECTOR	0.20	Director	$0	$0	$0
CRAIG MARTIN	DIRECTOR	0.20	Director	$0	$0	$0
DONNA FLYNT	DIRECTOR	0.20	Director	$0	$0	$0
ERIC GORDON	DIRECTOR	0.20	Director	$0	$0	$0
FELTON THOMAS	DIRECTOR	0.20	Director	$0	$0	$0
GREG HARRIS	DIRECTOR	0.20	Director	$0	$0	$0
GREGORY STEFANI	DIRECTOR	0.20	Director	$0	$0	$0
JEFFERY PATTERSON	DIRECTOR	0.20	Director	$0	$0	$0
JOSEPH COMPTON	DIRECTOR	0.20	Director	$0	$0	$0
KATHRYN HEIDEMANN	DIRECTOR	0.20	Director	$0	$0	$0
KATIE COLLIN	DIRECTOR	0.20	Director	$0	$0	$0
MANICKA COLLINS-BRYANT	DIRECTOR	0.20	Director	$0	$0	$0
MARGARET CANNON	DIRECTOR	0.20	Director	$0	$0	$0
NANCY BOSTWICK	DIRECTOR	0.20	Director	$0	$0	$0
MARK ROSS	DIRECTOR	0.20	Director	$0	$0	$0
MICHELE UNGER	DIRECTOR	0.20	Director	$0	$0	$0
MOLLY MCNALLY	DIRECTOR	0.20	Director	$0	$0	$0
NANCY BOSTWICK	DIRECTOR	0.20	Director	$0	$0	$0
PAUL PUTMAN	DIRECTOR	0.20	Director	$0	$0	$0
ROBERT PINCUS	DIRECTOR	0.20	Director	$0	$0	$0
RON JOHNSON	DIRECTOR	0.20	Director	$0	$0	$0
RONNA MCNAIR	DIRECTOR	0.20	Director	$0	$0	$0
YVETTTE ITTU	DIRECTOR	0.20	Director	$0	$0	$0
THOMAS CORRIGAN	DIRECTOR	0.20	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	$594,272	$1,910,860	$1,697,365	$-1,316,588
2023	$1,993,829	$409,740	$2,496,453	$1,584,089
2022	$702,110	$489,778	$818,405	$212,332
2021	$436,979	$396,491	$692,602	$40,488
2020	$268,682	$204,048	$613,070	$64,634
2019	$459,958	$351,016	$518,114	$108,942
2018	$250,376	$408,737	$395,497	$-158,361
2018	$267,683	$391,871	$415,048	$-124,188

CLEVELAND PUBLIC LIBRARY FOUNDATION