WASHINGTON COUNTY FREE LIBRARY

EIN: 526001038 501(c)(3) Education

HAGERSTOWN, MD

Total Revenue
$8,412,751
Total Expenses
$7,676,507
Total Assets
$18,684,377
Net Assets
$17,822,649
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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
1898
Legal Domicile
MD
Principal Officer
JENNY L BAKOS
Phone
3017393250
Tax Period
2022-07-01 to 2023-06-30

WASHINGTON COUNTY FREE LIBRARY, founded in 1898, is a community nonprofit in the Education sector that reported $8.4M in total revenue in fiscal year 2022. Expenses of $7.7M left a modest 9% surplus.

Mission

THE WASHINGTON COUNTY FREE LIBRARY ENGAGES AND STRENGTHENS OUR COMMUNITY BY BRINGING PEOPLE, INFORMATION, AND IDEAS TOGETHER.

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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 (2022)

Revenue Breakdown

Contributions & Grants $8,051,963
Program Service Revenue $87,109
Investment Income $273,679
Other Revenue $0
TOTAL REVENUE $8,412,751

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,464,930
Fundraising Expenses $0
Program Expenses $5,069,895
Other Expenses $3,211,577
TOTAL EXPENSES $7,676,507

Year-over-Year Comparison

2022 2021 Change
Revenue $8,412,751 $8,756,633 0.0%
Expenses $7,676,507 $7,734,957 0.0%
Net Income $736,244 $1,021,676 -0.3%
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
7
Independent Members
7
Employees
118
Volunteers
63

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
6
$353,062
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNY L BAKOS EXEC. DIR./S 40.00
Officer
$120,694 $656 $121,350
KATHLEEN M O'CONNELL DIR. OF PUBL 40.00
Officer
$101,642 $11,203 $112,845
ELIZABETH HULETT DIRECTOR WMR 40.00
Officer
$97,596 $21,271 $118,867
IAN SEIBERT CHIEF TECH. 40.00
Highest
$102,019 $0 $102,019
STEPHEN SCHUTTE PRESIDENT 1.00
Officer Director
$0 $0 $0
KIMBERLY HALSEY VICE PRESIDE 1.00
Officer Director
$0 $0 $0
ALFRED E MARTIN TREASURER 1.00
Officer Director
$0 $0 $0
KATHERINE OLIVER TRUSTEE 1.00
Director
$0 $0 $0
AARON PETERANECZ TRUSTEE 1.00
Director
$0 $0 $0
LAURIE BENDER TRUSTEE 1.00
Director
$0 $0 $0
KRISTINE MCGEE TRUSTEE 1.00
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 No data No data No data No data
2024 No data No data No data No data
2023 $8,412,751 $7,676,507 $18,684,377 $736,244
2022 $8,756,633 $7,734,957 $16,301,833 $1,021,676
2021 $8,989,975 $7,111,714 $15,931,235 $1,878,261
2020 $8,573,856 $7,737,840 $14,084,942 $836,016
2019 $8,916,673 $8,339,860 $12,213,404 $576,813
2018 $9,001,073 $8,460,433 $11,322,736 $540,640
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