PIERCE COUNTY RURAL LIBRARY DISTRI… - 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

1946

Legal Domicile

Principal Officer

GRETCHEN CASEROTTI

Phone

2535366500

Tax Period

2023-01-01 to 2023-12-31

PIERCE COUNTY RURAL LIBRARY DISTRICT, founded in 1946, is a mid-sized nonprofit in the Education sector that reported $47.5M in total revenue in fiscal year 2023. Expenses of $45.0M left a modest 5% surplus.

Mission

TO BRING THE WORLD OF INFORMATION AND IMAGINATION TO ALL PEOPLE OF OUR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $40,242,454 Revenue: $45,238,703

IN 2023, PEOPLE MADE 2,276,655 VISITS TO PIERCE COUNTY LIBRARIES, WITH 1,270,740 TO 19 LIBRARIES, 996,361 TO THE WEBSITE, AND 9,554 TO CURBSIDE PICKUPS, AND THEY CHECKED OUT 4,966,541 BOOKS AND...

IN 2023, PEOPLE MADE 2,276,655 VISITS TO PIERCE COUNTY LIBRARIES, WITH 1,270,740 TO 19 LIBRARIES, 996,361 TO THE WEBSITE, AND 9,554 TO CURBSIDE PICKUPS, AND THEY CHECKED OUT 4,966,541 BOOKS AND MATERIALS, WITH 2,621,339 FROM SHELVES AND 2,345,202 FROM ONLINE E-BOOKS AND AUDIOBOOKS.

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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 $409,204

Program Service Revenue $45,180,274

Investment Income $1,803,997

Other Revenue $58,429

TOTAL REVENUE $47,451,904

Expense Breakdown

Grants Paid $0

Salaries & Benefits $28,371,500

Fundraising Expenses $599,181

Program Expenses $40,242,454

Other Expenses $16,678,304

TOTAL EXPENSES $45,049,804

Year-over-Year Comparison

	2023	2022	Change
Revenue	$47,451,904	$45,137,134	+0.1%
Expenses	$45,049,804	$39,900,606	+0.1%
Net Income	$2,402,100	$5,236,528	-0.5%

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

371

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

$419,440

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAT JENKINS	TRUSTEE/CHAIR	2.00	Officer Director	$0	$0	$0
JAMILYN PENN	TRUSTEE/VICE CHAIR	2.00	Officer Director	$0	$0	$0
PAMELA DUNCAN	TRUSTEE/MEMBER	2.00	Director	$0	$0	$0
NEESHA PATEL	TRUSTEE/MEMBER	2.00	Director	$0	$0	$0
ABBY SLOAN	TRUSTEE/MEMBER	2.00	Director	$0	$0	$0
GRETCHEN CASEROTTI	EXECUTIVE DIRECTOR	40.00	Officer	$167,816	$39,367	$207,183
CLIFFORD JO	BUSINESS/COMPLIANCE DIRECTOR	40.00	Officer	$183,041	$29,216	$212,257
MELINDA CHESBRO	DEPUTY DIRECTOR	40.00	Highest	$158,217	$31,051	$189,268
CHEREE GREEN	STAFF EXPERIENCE DIRECTOR	40.00	Highest	$181,791	$18,493	$200,284
MARY GETCHELL	MARKETING & COMMUNICATIONS	40.00	Highest	$178,314	$18,598	$196,912
KAYCE HALL	CUSTOMER EXPERIENCE DIRECTOR	40.00	Highest	$147,348	$25,133	$172,481
DEAN CARRELL	FOUNDATION DIRECTOR	40.00	Highest	$158,964	$31,066	$190,030

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	$47,451,904	$45,049,804	$50,932,459	$2,402,100
2022	$45,137,134	$39,900,606	$48,389,599	$5,236,528
2021	$43,083,150	$37,521,666	$42,910,876	$5,561,484
2020	$41,958,625	$36,161,672	$37,583,831	$5,796,953
2019	$41,141,264	$33,656,493	$31,718,906	$7,484,771
2018	$32,280,003	$31,327,762	$24,653,752	$952,241

PIERCE COUNTY RURAL LIBRARY DISTRICT