CLEVELAND, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)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.
CLEVELAND PUBLIC LIBRARY FOUNDATION'S MISSION IS TO RAISE PHILANTHROPIC AND ADVOCACY SUPPORT FOR THE CLEVELAND PUBLIC LIBRARY.
THE CLEVELAND PUBLIC LIBRARY FOUNDATION EXISTS TO RAISE PHILANTHROPIC SUPPORT FOR CLEVELAND PUBLIC LIBRARY. THE FOUNDATION ALLOWS THE LIBRARY TO DO MORE FOR THE PEOPLE OF THIS COMMUNITY GIVEN THE...
THE CLEVELAND PUBLIC LIBRARY FOUNDATION EXISTS TO RAISE PHILANTHROPIC SUPPORT FOR CLEVELAND PUBLIC LIBRARY. THE FOUNDATION ALLOWS THE LIBRARY TO DO MORE FOR THE PEOPLE OF THIS COMMUNITY GIVEN THE WORK OUTSIDE THE SCOPE OF TRADITIONAL LIBRARY SERVICES IS NOT FUNDED BY THE STATE AND LOCAL TAX DOLLARS RECEIVED BY THE LIBRARY. WHEN YOU INVEST IN THE WORK OF THE CLEVELAND PUBLIC LIBRARY THROUGH THE FOUNDATION, YOU INVEST IN THE CITY OF CLEVELAND. YOUR INVESTMENT IMPACTS THE FOLLOWING AREAS: FOUNDATION GOALS GOAL 1 ACHIEVE FINANCIAL TARGETS IMPLEMENT FMP (FACILITIES MASTER PLAN) CAPITAL ENHANCEMENTS TO AUGMENT THE CLEVELAND PUBLIC LIBRARY TEN-YEAR CAPITAL PLAN TO IMPROVE ALL 27 OF ITS NEIGHBORHOOD BRANCHES, THE FOUNDATION WILL LEAD FUNDRAISING EFFORTS FOR FMP CAPITAL ENHANCEMENTS TO ACTIVATE THE SYSTEM'S OUTDOOR SPACES AT EACH BRANCH INCLUSIVE OF NAMING OPPORTUNITIES. THE GOAL IS TO CREATE OUTDOOR ENVIRONMENTS TO SERVE AS WELCOMING AND INCLUSIVE SPACES THAT BRING LIBRARY PROGRAMS AND SERVICES DIRECTLY INTO THE COMMUNITIES THEY SERVE. EACH SPACE WILL BE DEVELOPED IN TANDEM WITH THE LIBRARY'S CAPITAL PROJECTS TEAM AND WILL REFLECT THE DIVERSE AND DISTINCT NEIGHBORHOODS IN WHICH THEY RESIDE. FMP CAPITAL ENHANCEMENTS WILL ADDRESS THE LIBRARY'S BROADER STRATEGIC GOALS IN THE FOLLOWING WAYS: GOAL 2 ENSURE THE LONG-TERM FINANCIAL SUSTAINABILITY OF THE FOUNDATION BUILD THE OPERATING RESERVES OF THE FOUNDATION AND DEVELOP RESERVE FUNDING POLICY. GOAL 3 RAISE FUNDING TO SUPPORT READING LITERACY & DIGITAL EQUITY PROGRAMS THE FOUNDATION WILL RAISE FUNDING FOR LIBRARY READING AND DIGITAL EQUITY PROGRAMS TO HELP THE LIBRARY ADDRESS THESE ISSUES. FUNDING FOR PROGRAMS IN THESE AREAS WILL ALLOW THE LIBRARY TO SERVE MORE AUDIENCES IN THE CITY OF CLEVELAND AND BEYOND. GOAL 4 PROVIDE FINANCIAL SUPPORT FOR LIBRARY PROGRAMS THAT ADDRESS REAL- TIME COMMUNITY NEEDS THE FOUNDATION WILL PROVIDE FUNDRAISING DOLLARS TO THE LIBRARY TO SUPPORT OTHER AREAS OF ITS STRATEGIC PLAN THAT ADDRESS REAL-TIME COMMUNITY NEEDS. GOAL 5 BOLSTER THE FOUNDATION'S REPUTATION IN THE REGION THROUGH ENHANCING BOARD INFRASTRUCTURE TO ENGAGE NEW AUDIENCES BUILD THE REPUTATION OF THE ORGANIZATION BY ENGAGING NEW AUDIENCES. THIS WILL BE ACHIEVED THROUGH THE LENS OF PAR: - PHILANTHROPY: GIVE OR GET NEW FUNDRAISING DOLLARS - ADVOCACY: PARTICIPATE IN ADVOCACY EFFORTS THAT YIELD FINANCIAL, LEGISLATIVE, AND/OR POLICY RESOURCES FOR THE LIBRARY AND ITS MISSION - RELATIONSHIPS: IDENTIFY NEW AUDIENCES TO INTRODUCE THE WORK OF THE LIBRARY & FOUNDATION ENSURE EVERY CHILD READS: CLEVELAND PUBLIC LIBRARY PRIORITIZES ITS YOUTH LITERACY EFFORTS. FROM STORY TIME, TUTORING, AND HOMEWORK HELP TO RESOURCES FOR PARENTS AND EDUCATORS, OUR ROLE IS TO ENSURE CHILDREN HAVE THE TOOLS THEY NEED TO BE SUCCESSFUL READERS. COMMUNITY CONNECTOR: THE LIBRARY SERVES AS A CONNECTOR FOR SOCIAL SERVICES AND OTHER BASIC NEED RESOURCES FOR THE COMMUNITY. WHETHER ADULT PATRONS NEED ACCESS TO EDUCATION SERVICES OR CHILDREN NEED ACCESS TO HEALTHY FOOD OPTIONS, YOU CAN FIND IT AT CLEVELAND PUBLIC LIBRARY. WORKFORCE READY: THROUGH PROGRAMS, SERVICES, AND COMMUNITY PARTNERSHIPS CLEVELAND PUBLIC LIBRARY ENSURES CLEVELANDERS HAVE THE SKILLS AND RESOURCES THEY NEED TO BE SUCCESSFUL IN THE WORKFORCE. BRIDGE THE CULTURAL DIVIDE: THE LIBRARY OFFERS PEOPLE A PLATFORM TO LEARN FIRST HAND FROM EACH OTHER AND COME TO APPRECIATE THE VARIETY AND RICHNESS OF THE WORLDS CULTURES. EMERGING TECHNOLOGY, OUR FEATURED EXHIBITIONS, AND COLLECTIONS PRESENTS OPPORTUNITIES TO BROADEN THE AVENUES FOR INTERCULTURAL ENGAGEMENT.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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
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$0 | $0 | $0 |
| CRAIG MARTIN | DIRECTOR | 0.20 |
Director
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$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
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$0 | $0 | $0 |
| NANCY BOSTWICK | DIRECTOR | 0.20 |
Director
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$0 | $0 | $0 |
| MARK ROSS | DIRECTOR | 0.20 |
Director
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$0 | $0 | $0 |
| MICHELE UNGER | DIRECTOR | 0.20 |
Director
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$0 | $0 | $0 |
| MOLLY MCNALLY | DIRECTOR | 0.20 |
Director
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$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
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$0 | $0 | $0 |
| RON JOHNSON | DIRECTOR | 0.20 |
Director
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$0 | $0 | $0 |
| RONNA MCNAIR | DIRECTOR | 0.20 |
Director
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$0 | $0 | $0 |
| YVETTTE ITTU | DIRECTOR | 0.20 |
Director
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$0 | $0 | $0 |
| THOMAS CORRIGAN | DIRECTOR | 0.20 |
Director
|
$0 | $0 | $0 |
| 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 |
Compare CLEVELAND PUBLIC LIBRARY FOUNDATION with other nonprofits in Ohio and across the country.