Pinellas Public Library Cooperativ… - Form 990 Financial Data

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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

1989

Legal Domicile

Principal Officer

Cheryl Morales

Phone

7274418408

Tax Period

2023-10-01 to 2024-09-30

Pinellas Public Library Cooperative Inc, founded in 1989, is a community nonprofit in the Community Improvement sector that reported $9.1M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

The Pinellas Public Library Cooperative, Inc. serves the communities in Pinellas County with the Administrative Office located in Clearwater. The Cooperative office provides coordination of activities, funding, and marketing services for member libraries. Special services offered by the Cooperative include the Pinellas Talking Book Library and the Deaf Literacy Center.

Program Service Accomplishments

Program 1

Expenses: $7,157,367 Revenue: $7,157,367

The Pinellas Public Library Cooperative, Inc. receives and disburses funds from county, local sources, and from governmental units to local libraries. Support to the participating libraries is made...

Program 2

Expenses: $89,117 Revenue: $114,181

The Pinellas Talking Book Library's (PTBL) mission is to encourage and support reading by providing free library services to residents for whom conventional print is a barrier. The PTBL is...

The Pinellas Talking Book Library's (PTBL) mission is to encourage and support reading by providing free library services to residents for whom conventional print is a barrier. The PTBL is administered locally through the Pinellas Public Library Cooperative, Inc. It is a free service to residents of all ages who are unable to read standard print material due to visual, physical or learning disabilities whether permanent or temporary. The PTBL provides recorded, Braille and large-print books and magazines as well as a collection of descriptive videos and players.

Program 3

Expenses: $137,265 Revenue: $119,873

The Deaf Literacy Center (DLC) is a countywide library-based adult literacy program for deaf and hard-of-hearing. This community program is a service of the Pinellas Public Library Cooperative, Inc. which serves the communities in Pinellas County, Florida by providing coordinated services for member libraries. The DLC program began as a response to the need to provide quality library services to the local Deaf community. The program is a countywide program with multiple sites that provide basic literacy and computer literacy, signed storytimes, special workshops, sign language classes, and book discussions for the Deaf.

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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 $31,930

Program Service Revenue $8,673,961

Investment Income $35,887

Other Revenue $398,734

TOTAL REVENUE $9,140,512

Expense Breakdown

Grants Paid $124,964

Salaries & Benefits $584,538

Fundraising Expenses $0

Program Expenses $8,571,587

Other Expenses $8,486,503

TOTAL EXPENSES $9,196,005

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,140,512	$8,272,098	+0.1%
Expenses	$9,196,005	$8,205,733	+0.1%
Net Income	$-55,493	$66,365	-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

Volunteers

N/A

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

$127,904

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Karen L Roth	Chair	1.00	Officer Director	$0	$0	$0
Michael Jefferis	Vice Chair	1.00	Officer Director	$0	$0	$0
Jeffrey Gellermann	Secretary/Treasurer	1.00	Officer Director	$0	$0	$0
Michael Delk	Director	1.00	Director	$0	$0	$0
Angela Pietras	Director	1.00	Director	$0	$0	$0
Brian Lowack	Director	1.00	Director	$0	$0	$0
Lisa Kothe	LDAC Representative	1.00	Director	$0	$0	$0
Karen LaCorte-Neis	Vice Chair	1.00	Officer Director	$0	$0	$0
Nancy McKibben	Director	1.00	Director	$0	$0	$0
Maggie Paluch	Director	1.00	Director	$0	$0	$0
Cheryl Morales	Executive Director	40.00	Officer	$127,904	$0	$127,904

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	$9,140,512	$9,196,005	$3,482,572	$-55,493
2023	$8,272,098	$8,205,733	$3,439,390	$66,365
2022	$8,019,492	$7,949,905	$3,396,221	$69,587
2021	$7,355,806	$7,512,787	$3,405,069	$-156,981
2020	$6,996,872	$7,428,243	$3,611,118	$-431,371
2019	$6,911,534	$6,707,366	$3,984,601	$204,168
2018	$6,602,956	$6,398,537	$3,771,119	$204,419

Pinellas Public Library Cooperative Inc