SNO-ISLE LIBRARIES FOUNDATION

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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

2000

Legal Domicile

Principal Officer

LUKE DISTELHORST

Phone

3606517000

Tax Period

2023-01-01 to 2023-12-31

SNO-ISLE LIBRARIES FOUNDATION, founded in 2000, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 698% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.3M, a strong 86% operating margin.

Mission

THE SNO-ISLE LIBRARIES FOUNDATION MOBILIZES PEOPLE AND RESOURCES TO EXPAND THE REACH OF LIBRARY SERVICES, PROMOTE CIVIC ENGAGEMENT, AND FOSTER A LIFETIME OF LEARNING.

Program Service Accomplishments

Program 1

Expenses: $171,938 Revenue: $5,876

GENERAL EXPENSES INCLUDE SUPPORT OF PROGRAMS AND LIBRARIES THROUGHOUT THE SNO-ISLE LIBRARIES DISTRICT, INCLUDING LEASE EXPENSES FOR THE MARINER AND LAKEWOOD/SMOKEY POINT DEMONSTRATION LIBRARIES...

GENERAL EXPENSES INCLUDE SUPPORT OF PROGRAMS AND LIBRARIES THROUGHOUT THE SNO-ISLE LIBRARIES DISTRICT, INCLUDING LEASE EXPENSES FOR THE MARINER AND LAKEWOOD/SMOKEY POINT DEMONSTRATION LIBRARIES, SUPPORT FOR FACILITY UPGRADES, AND MORE.

Program 2

Expenses: $18,731

SNO-ISLE LIBRARIES' THIRD GRADERS READ TOGETHER PROGRAM PROMOTES LITERACY, READING PROFICIENCY, LIFELONG LEARNING, AND TEAMWORK SKILLS, WHICH ENCOURAGE FUTURE ACADEMIC SUCCESS FOR 3RD GRADE STUDENTS. 4,200 STUDENTS FROM 65 SCHOOLS IN SNOHOMISH AND ISLAND COUNTIES PARTICIPATED IN THE PROGRAM.

Program 3

Expenses: $20,145

SNO-ISLE LIBRARIES SUMMER READING PROGRAM ENCOURAGES STUDENT LITERACY AND ACADEMIC SUCCESS WHILE HELPING STUDENTS AVOID DECLINING EDUCATIONAL ABILITY DURING THE SUMMER VACATION. IN 2023, WE HAD 6,477 SUMMER READING FINISHERS, WHO READ OVER 2.4 MILLION MINUTES IN TOTAL. SUPPORT FROM THE FOUNDATION PROVIDED PRIZE BOOKS FOR PROGRAM FINISHERS AT THE MARINER, LAKEWOOD/SMOKEY POINT, MONROE, MOUNTLAKE TERRACE, AND STANWOOD LIBRARIES AS WELL AS 1,800 PRIZE BOOKS TO PROGRAM PARTICIPANTS AT 15 BOYS & GIRLS CLUBS.

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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 $2,534,848

Program Service Revenue $5,876

Investment Income $85,532

Other Revenue $-7,978

TOTAL REVENUE $2,618,278

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $276,443

Other Expenses $364,357

TOTAL EXPENSES $364,357

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,618,278	$328,024	+7.0%
Expenses	$364,357	$255,487	+0.4%
Net Income	$2,253,921	$72,537	+30.1%

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

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
LUKE DISTELHORST	PRESIDENT	2.00	Officer Director	$0	$0	$0
JEANNE THORSEN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
SAMI POSTMA	SECRETARY	2.00	Officer Director	$0	$0	$0
SUSAN KOSTICK	BOARD OF TRUSTEES LIAISON	2.00	Director	$0	$0	$0
RIM BENOUD-SCHMITZ	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER CROTEAU	DIRECTOR	2.00	Director	$0	$0	$0
CURTIS DECLUE	DIRECTOR	2.00	Director	$0	$0	$0
NICK HAMDEN	DIRECTOR	2.00	Director	$0	$0	$0
NICOLAS KADIR JENSEN	DIRECTOR	2.00	Director	$0	$0	$0
ELEANOR HOWELL-SHRYOCK	DIRECTOR	2.00	Director	$0	$0	$0
NAOMI JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
FRANK KWAN	DIRECTOR	2.00	Director	$0	$0	$0
BRIANNE NEVILL	DIRECTOR	2.00	Director	$0	$0	$0
JOYCE ZHOU	DIRECTOR	2.00	Director	$0	$0	$0
SONIA SIEGEL VEXLER	DIRECTOR	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	$2,618,278	$364,357	$4,634,585	$2,253,921
2022	$328,024	$255,487	$2,267,762	$72,537
2021	$1,057,295	$217,489	$2,307,983	$839,806
2020	$501,572	$293,153	$1,353,315	$208,419
2019	$146,809	$167,663	$1,047,239	$-20,854
2018	$116,672	$199,435	$941,864	$-82,763