THE 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

1982

Legal Domicile

Principal Officer

KIM PATTON

Phone

7855804493

Tax Period

2023-01-01 to 2023-12-31

THE LIBRARY FOUNDATION, founded in 1982, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $664K, a strong 60% operating margin.

Mission

TO PROMOTE THE CONTINUED GROWTH, ENHANCEMENT AND DEVELOPMENT OF LIBRARY COLLECTIONS, PROGRAMS,SERVICES,TECHNOLOGY AND PHYSICAL FACILITIES BY ENCOURAGING AND SOLICITING PRIVATE PHILANTHROPIC SUPPORT.

Program Service Accomplishments

Program 1

Expenses: $218,380

THE TOPEKA AND SHAWNEE COUNTY PUBLIC LIBRARY IS THE SOLE BENEFICIARY OF THE ASSETS OF THE FUNDRAISING EFFORTS CONDUCTED BY THE LIBRARY FOUNDATION. AN ANNUAL DISTRIBUTION TO THE LIBRARY RESULTS IN THE TRANSFER OF FUNDS, ACCORDING TO ESTABLISHED POLICY, THAT ARE USED TO PROMOTE THE CONTINUED GROWTH, ENHANCEMENT, AND DEVELOPMENT OF COLLECTIONS, PROGRAMS, SERVICES, TECHNOLOGY, AND PHYSICAL FACILITIES.

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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 $615,901

Program Service Revenue $0

Investment Income $477,269

Other Revenue $8,279

TOTAL REVENUE $1,101,449

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $96,396

Program Expenses $218,380

Other Expenses $437,090

TOTAL EXPENSES $437,090

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,101,449	$1,184,042	-0.1%
Expenses	$437,090	$550,147	-0.2%
Net Income	$664,359	$633,895	+0.0%

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

$110,065

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MUNSON	TRUSTEE	0.00	Director	$0	$0	$0
MARY KATHERINE KATIE KOUPAL	TRUSTEE	0.00	Director	$0	$0	$0
KIM PATTON	CHAIR	0.00	Officer Director	$0	$0	$0
CLINT DEVOE	SECRETARY/TREASURER	0.00	Officer Director	$0	$0	$0
HALEY DAVEE	VICE-CHAIR/CHAIR ELECT	0.00	Officer Director	$0	$0	$0
KEEGAN MCELROY	TRUSTEE	0.00	Director	$0	$0	$0
ROBERT MAXWELL	TRUSTEE	0.00	Director	$0	$0	$0
RALPH HOYOS	TRUSTEE	0.00	Director	$0	$0	$0
JERI HANSEN	TRUSTEE	0.00	Director	$0	$0	$0
CAROL WHEELER	TRUSTEE	0.00	Director	$0	$0	$0
BRUCE BURNS	TRUSTEE	0.00	Director	$0	$0	$0
GEORGE VEGA	TRUSTEE	0.00	Director	$0	$0	$0
ALAN CONROY	TRUSTEE	0.00	Director	$0	$0	$0
BRANDON HENRY	TRUSTEE	0.00	Director	$0	$0	$0
CYNTHIA SHEPPEARD	TRUSTEE	0.00	Director	$0	$0	$0
ERIC PURCELL	TRUSTEE	0.00	Director	$0	$0	$0
CARRIE RIORDAN	TRUSTEE	0.00	Director	$0	$0	$0
ASHLEY CHAREST	EXECUTIVE DIRECTOR	20.00	Officer	$0	$30,249	$110,065

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	No data	No data	No data	No data
2023	$1,101,449	$437,090	$11,555,898	$664,359
2022	$1,184,042	$550,147	$9,891,043	$633,895
2021	$2,072,490	$448,343	$10,955,345	$1,624,147
2020	$623,308	$904,108	$8,420,019	$-280,800
2019	$541,810	$1,560,411	$8,461,346	$-1,018,601
2018	$834,180	$883,915	$8,402,787	$-49,735