KITSAP REGIONAL LIBRARY FOUNDATION

EIN: 911605136 501(c)(3) Education

BREMERTON, WA

Total Revenue
$902,728
Total Expenses
$1,261,273
Total Assets
$2,082,922
Net Assets
$2,081,845
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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
1991
Legal Domicile
WA
Principal Officer
WENDY KILE
Phone
3604759039
Tax Period
2024-01-01 to 2024-12-31

KITSAP REGIONAL LIBRARY FOUNDATION, founded in 1991, is a small nonprofit in the Education sector that reported $903K in total revenue in fiscal year 2024. Revenue surged 93% from the prior year, signaling strong growth momentum. Expenses of $1.3M exceeded revenue, resulting in a 40% operating deficit.

Mission

THE FOUNDATION WAS ESTABLISHED TO PROMOTE AND RECEIVE PHILANTHROPIC GIFTS FOR THE BENEFIT OF THE KITSAP REGIONAL LIBRARY BEYOND THE LEVEL ALLOWED BY TAX SUPPORT. THE FOUNDATION SEEKS TO PROVIDE FUNDING FOR PROGRAM ENHANCEMENTS, CAPITAL PROJECTS

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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 (2024)

Revenue Breakdown

Contributions & Grants $817,177
Program Service Revenue $0
Investment Income $85,551
Other Revenue $0
TOTAL REVENUE $902,728

Expense Breakdown

Grants Paid $771,482
Salaries & Benefits $342,279
Fundraising Expenses $282,792
Program Expenses $771,482
Other Expenses $147,512
TOTAL EXPENSES $1,261,273

Year-over-Year Comparison

2024 2023 Change
Revenue $902,728 $468,762 +0.9%
Expenses $1,261,273 $817,836 +0.5%
Net Income $-358,545 $-349,074 +0.0%
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
10
Independent Members
10
Employees
N/A
Volunteers
10

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
1
$160,174
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WENDY KILE EXECUTIVE DIRECTOR 24.00
Officer
$82,270 $23,056 $160,174
KARI C DRISKELL ASSISTANT DIRECTOR 40.00
Highest
$119,587 $20,426 $140,013
CATHY HARVEY SECRETARY 1.00
Director
$0 $0 $0
SARAH BUTLER BOARD MEMBER 1.00
Director
$0 $0 $0
CARRIE EASTMAN PRESIDENT 1.00
Director
$0 $0 $0
GINGER VAUGHAN VICE PRESIDENT 1.00
Director
$0 $0 $0
WENDIE JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
ERIK FONG IMMEDIATE PAST PRESIDENT 1.00
Director
$0 $0 $0
ANDREA SANCHEZ-WILLIAMS TREASURER 1.00
Director
$0 $0 $0
JENNIFER YEAMAN BOARD MEMBER 1.00
Director
$0 $0 $0
RUCHI CHRISTENSEN BOARD MEMBER 1.00
Director
$0 $0 $0
KRISTANN ORTON BOARD MEMBER 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 $902,728 $1,261,273 $2,082,922 $-358,545
2023 $468,762 $817,836 $3,087,431 $-349,074
2022 $1,641,872 $940,098 $3,205,467 $701,774
2021 $938,219 $2,299,689 $1,516,969 $-1,361,470
2020 $3,029,237 $2,891,317 $3,212,916 $137,920
2019 $541,561 $474,311 $2,201,229 $67,250
2018 $974,453 $430,186 $1,869,067 $544,267
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