GRAND RAPIDS PUBLIC LIBRARY FNDN

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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

1991

Legal Domicile

Principal Officer

DANIEL J POORTENGA

Phone

6169885400

Tax Period

2024-07-01 to 2025-06-30

GRAND RAPIDS PUBLIC LIBRARY FNDN, founded in 1991, is a small nonprofit in the Education sector that reported $938K in total revenue in fiscal year 2024. Revenue fell 61% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $605K, a strong 65% operating margin.

Mission

THE MISSION OF THE GRAND RAPIDS PUBLIC LIBRARY FOUNDATION IS TO PROVIDE FUND RAISING AND ADVOCACY SUPPORT FOR THE GRAND RAPIDS PUBLIC LIBRARY. THE FOUNDATION ASSISTS THE BOARD OF LIBRARY COMMISSIONERS IN PROVIDING QUALITY SERVICES TO THE CITIZENS OF THE GREATER GRAND RAPIDS AREA.

Program Service Accomplishments

Program 1

Expenses: $308,903

GRANTS TO THE GRAND RAPIDS PUBLIC LIBRARY FOR VARIOUS PROGRAMS NOT COVERED UNDER THE BUDGET. THESE PROGRAMS INCLUDE ACTIVITIES FOCUSED ON YOUTH LITERACY (SUMMER READING PROGRAM), COMMUNITY ENRICHMENT (CENTER FOR THE BOOK, DIVERSITY PROGRAMMING, BUSINESS REFERENCE DATABASES), STEM TRAINING (YOUTH TECHNOLOGY CAMP) AND PRESERVATION OF RARE AND HISTORIC LIBRARY MATERIALS.

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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 $195,505

Program Service Revenue $8,680

Investment Income $731,903

Other Revenue $1,733

TOTAL REVENUE $937,821

Expense Breakdown

Grants Paid $0

Salaries & Benefits $67,291

Fundraising Expenses $0

Program Expenses $308,903

Other Expenses $99,689

TOTAL EXPENSES $332,894

Year-over-Year Comparison

	2024	2023	Change
Revenue	$937,821	$2,422,044	-0.6%
Expenses	$332,894	$714,923	-0.5%
Net Income	$604,927	$1,707,121	-0.6%

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

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
DANIEL J POORTENGA	CHAIR	2.00	Officer Director	$0	$0	$0
AMY FREEBURG	VICE CHAIR	2.00	Officer Director	$0	$0	$0
LAURIE SCHUTTER	TREASURER	2.00	Officer Director	$0	$0	$0
DEBRA A BATES	SECRETARY	2.00	Officer Director	$0	$0	$0
STEPHANIE GERLING-SCHULTZ	DIRECTOR	2.00	Director	$0	$0	$0
KATE AVERY	DIRECTOR	2.00	Director	$0	$0	$0
AMARI FULLER	DIRECTOR	2.00	Director	$0	$0	$0
MARISA FAHNENSTIEL	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT DEVILBISS	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL SCANTLEBURY PHD	DIRECTOR	2.00	Director	$0	$0	$0
GAYLE KESSEL	DIRECTOR	2.00	Director	$0	$0	$0
MICHELLE MISSAD	DIRECTOR	2.00	Director	$0	$0	$0
DERETHER GREER	DIRECTOR	2.00	Director	$0	$0	$0
JONATHAN F COMBS	DIRECTOR	2.00	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
2025	$937,821	$332,894	$8,970,210	$604,927
2024	$2,422,044	$714,923	$8,092,027	$1,707,121
2023	$550,689	$364,868	$5,691,515	$185,821
2022	$504,023	$369,335	$5,261,818	$134,688
2021	$901,306	$287,781	$5,963,728	$613,525
2020	$434,836	$281,804	$4,849,160	$153,032
2019	$268,517	$273,035	$4,621,092	$-4,518
2018	$292,118	$244,465	$4,390,047	$47,653