FRIENDS OF THE PORT ANGELES 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

1981

Legal Domicile

Phone

3604527266

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF THE PORT ANGELES LIBRARY, founded in 1981, is a micro nonprofit that reported $63K in total revenue in fiscal year 2024. Revenue surged 1696% from the prior year, signaling strong growth momentum. The organization ran a surplus of $27K, a strong 43% operating margin.

Mission

SUPPORT THE PROGRAMS AND NEEDS OF THE PORT ANGELES LIBRARY

Program Service Accomplishments

Program 1

Expenses: $35,922

SUPPORT OF LIBRARY FUNCTIONS AND MAINTENANCE INCLUDING FIXTURES AND PROGRAM EXPENSES NOT FUNDED WITH PUBLIC FUNDS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $6,252

Program Service Revenue $0

Investment Income $28,114

Other Revenue $28,684

TOTAL REVENUE $63,050

Expense Breakdown

Grants Paid $24,716

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $35,922

Other Expenses $11,206

TOTAL EXPENSES $35,922

Year-over-Year Comparison

	2024	2023	Change
Revenue	$63,050	$3,511	+17.0%
Expenses	$35,922	$27,440	+0.3%
Net Income	$27,128	$-23,929	-2.1%

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

N/A

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
MYRNA SCHAAF	President	5.00	Officer Director	$0	$0	$0
PATTY HANNAH	Vice President	4.00	Officer Director	$0	$0	$0
TINA SMITH	Treasurer	4.00	Officer Director	$0	$0	$0
ROB VANDEWEGHE	Director	1.00	Director	$0	$0	$0
RITA BERSON	BOOKSTORE MGR	15.00	Director	$0	$0	$0
KATHY DOBBINS	Director	10.00	Director	$0	$0	$0
TRACY FITZWATER	Director	1.00	Director	$0	$0	$0
STEPHEN DOIG	Secretary	4.00	Officer Director	$0	$0	$0
MARIAN BIRCH	Director	4.00	Director	$0	$0	$0
LUCILLE CELESTINO	Director	2.00	Director	$0	$0	$0
YVONNE MCMILLAN	Director	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
2024	$63,050	$35,922	$1,141,511	$27,128
2023	$3,511	$27,440	$1,064,742	$-23,929
2022	$61,792	$60,340	$937,990	$1,452
2021	$136,772	$29,054	$1,116,670	$107,718
2020	$99,133	$44,904	$1,008,952	$54,229
2019	$103,479	$78,148	$954,723	$25,331
2018	$87,945	$59,809	$803,664	$28,136