BAINBRIDGE PUBLIC LIBRARY

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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

1960

Legal Domicile

Principal Officer

WALTER YUND

Phone

2064515050

Tax Period

2023-01-01 to 2023-12-31

BAINBRIDGE PUBLIC LIBRARY, founded in 1960, is a small nonprofit in the Education sector that reported $548K in total revenue in fiscal year 2023. Revenue fell 50% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $188K, a strong 34% operating margin.

Mission

THE ORGANIZATION'S PRIMARY MISSION IS TO ENSURE A VIBRANT COMMUNITY SPACE DEDICATED TO THE JOY OF READING, THE DISCOVERY OF IDEAS, AND THE POWER OF INFORMATION BY OWNING, OPERATING, AND MAINTAINING THE LIBRARY BUILDING AND GROUNDS.

Program Service Accomplishments

Program 1

Expenses: $318,717

THROUGHOUT 2023 BAINBRIDGE PUBLIC LIBRARY (BPL) COVERED THE OPERATING COSTS OF THE BUILDING AND GROUNDS IT OWNS, WHICH ARE OPERATED AS THE BAINBRIDGE BRANCH OF THE KITSAP PUBLIC LIBRARY SYSTEM. A BPL VOLUNTEER GROUP KNOWN AS THE "FRIDAY TIDIES" CONTINUED TO MAINTAIN THE EXTENSIVE GARDEN AND GROUNDS OF THE PROPERTY, WITH THE ASSISTANCE OF A LANDSCAPE MAINTENANCE COMPANY, WITH COSTS PAID BY BPL. IN ADDITION TO NORMAL EXPENSES OF UTILITIES, MAINTENANCE, AND REPAIRS, BPL HIRED CONTRACTORS AND COMPLETED THE FOLLOWING PROJECTS: COMPLETED A MAJOR UPGRADE AND REPLACEMENT OF THE ELEVATOR CONTROL SYSTEM WITH DIGITAL CONTROLS CONSISTENT WITH CURRENT STANDARDS TOGETHER WITH A NEW FIRE AND SMOKE ALARM PANEL; INSTALLED EXTERIOR LIGHTING IMPROVEMENTS FOR SAFETY AND AESTHETICS; INSTALLED A NEW ART HANGING SYSTEM IN CONNECTION WITH THE REFRESH OF THE LARGE MEETING ROOM; INSTALLED A MAJOR PIECE OF ARTWORK ON THE GROUNDS TO RECOGNIZE CONTRIBUTORS TO THE GARDEN FUND; PRESENTED A ROTATING MONTHLY ART SHOW IN ITS LARGE MEETING ROOM, TOGETHER WITH A HOSTED FIRST FRIDAY CELEBRATION; PUBLISHED A MONTHLY ENEWS LETTER HIGHLIGHTING LOCAL ARTISTS AND PUBLISHED LOCAL AUTHORS. BAINBRIDGE PUBLIC LIBRARY PARTNERED WITH LIBRARY U TO PRESENT A WELL ATTENDED FOUR-PART GREAT DECISIONS SERIES WHICH INCLUDED PRESENTATIONS ON THE US AND CHINA, ENERGY GEOPOLITICS, IRAN, AND ARTIFICIAL INTELLIGENCE WITHOUT CHARGE.

Program 2

Revenue: $122,205

IHLAND WAY BUILDINGS WERE MAINTAINED AND FULLY TENANTED.

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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 $381,304

Program Service Revenue $0

Investment Income $138,881

Other Revenue $27,337

TOTAL REVENUE $547,522

Expense Breakdown

Grants Paid $3,500

Salaries & Benefits $0

Fundraising Expenses $22,622

Program Expenses $318,717

Other Expenses $356,347

TOTAL EXPENSES $359,847

Year-over-Year Comparison

	2023	2022	Change
Revenue	$547,522	$1,085,996	-0.5%
Expenses	$359,847	$327,040	+0.1%
Net Income	$187,675	$758,956	-0.8%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM FOX	BOARD MEMBER	3.00	Director	$0	$0	$0
KATHERINE BOLLES	PRESIDENT	5.00	Officer Director	$0	$0	$0
CHARLES BROWNE	ARCHIVIST	4.00	Officer Director	$0	$0	$0
MERRY PALMER	BOARD MEMBER	1.00	Director	$0	$0	$0
WALTER YUND	TREASURER	7.00	Officer Director	$0	$0	$0
KIP BANKHART	BOARD MEMBER	6.00	Director	$0	$0	$0
DENTON KIEHLE	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
JAMES MCKEEVER	BOARD MEMBER	3.00	Director	$0	$0	$0
RACHELLE CASTLEBERRY	BOARD MEMBER	3.00	Director	$0	$0	$0
TRESE WILLIAMSON	BOARD MEMBER	2.50	Director	$0	$0	$0
JUDY HARTSTONE	BOARD MEMBER	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
2024	No data	No data	No data	No data
2023	$547,522	$359,847	$7,335,954	$187,675
2022	$1,085,996	$327,040	$6,794,785	$758,956
2021	$569,196	$252,982	$6,679,181	$316,214
2020	$388,495	$315,585	$6,117,018	$72,910
2019	$360,255	$393,502	$5,869,239	$-33,247
2018	$379,557	$338,734	$5,635,496	$40,823