Civic Intelligence

Pierce County Rural Library District

990 • Fiscal year 2022 • EIN 91-1098071

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

3005 112th St ETacoma, WA 98446-2215

(253) 536-6500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

16th percentile

0.02x

Higher debt load relative to assets than 16% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

9th percentile

0.02x

Higher debt load relative to revenue than 9% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

61st percentile

12%

Higher net margin than 61% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

37th percentile

$206,830

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

75th percentile

13%

Faster asset growth than 75% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

51st percentile

4.8%

Faster revenue growth than 51% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Up

$48,389,599

Up $5,478,723 (+13%) from 2021

Net Assets

Up

$47,417,531

Up $5,214,577 (+12%) from 2021

Liabilities

Up

$972,068

Up $264,146 (+37%) from 2021

Revenue

Up

$45,137,134

Up $2,053,984 (+4.8%) from 2021

Expenses

Up

$39,900,606

Up $2,378,940 (+6.3%) from 2021

Net Income

Down

$5,236,528

Down $324,956 (-5.8%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $72,365,600Liabilities 2010: $3,217,466Net Assets 2010: $69,148,1342010Assets 2011: $71,292,519Liabilities 2011: $3,409,214Net Assets 2011: $67,883,3052011Assets 2012: $25,140,934Liabilities 2012: $4,134,356Net Assets 2012: $21,006,5782012Assets 2013: $21,217,397Liabilities 2013: $1,120,521Net Assets 2013: $20,096,8762013Assets 2014: $19,869,642Liabilities 2014: $781,288Net Assets 2014: $19,088,3542014Assets 2015: $18,525,058Liabilities 2015: $1,112,621Net Assets 2015: $17,412,4372015Assets 2016: $18,450,648Liabilities 2016: $961,362Net Assets 2016: $17,489,2862016Assets 2017: $24,463,157Liabilities 2017: $2,055,652Net Assets 2017: $22,407,5052017Assets 2018: $24,653,752Liabilities 2018: $1,294,006Net Assets 2018: $23,359,7462018Assets 2019: $31,718,906Liabilities 2019: $874,389Net Assets 2019: $30,844,5172019Assets 2020: $37,583,831Liabilities 2020: $942,361Net Assets 2020: $36,641,4702020Assets 2021: $42,910,876Liabilities 2021: $707,922Net Assets 2021: $42,202,9542021Assets 2022: $48,389,599Liabilities 2022: $972,068Net Assets 2022: $47,417,5312022Assets 2023: $50,932,459Liabilities 2023: $1,112,828Net Assets 2023: $49,819,6312023Assets 2024: $52,979,474Liabilities 2024: $1,198,121Net Assets 2024: $51,781,3532024

Highlighted filing

2022

Assets$48,389,599
Liabilities$972,068
Net Assets$47,417,531

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $29,389,2172010Expenses 2011: $30,572,4612011Expenses 2012: $28,470,1912012Revenue 2013: $25,244,982Expenses 2013: $27,515,023Net Income 2013: -$2,270,0412013Revenue 2014: $26,499,903Expenses 2014: $27,508,425Net Income 2014: -$1,008,5222014Revenue 2015: $28,626,367Expenses 2015: $30,302,284Net Income 2015: -$1,675,9172015Revenue 2016: $30,378,631Expenses 2016: $30,301,782Net Income 2016: $76,8492016Revenue 2017: $30,877,279Expenses 2017: $32,168,086Net Income 2017: -$1,290,8072017Revenue 2018: $32,280,003Expenses 2018: $31,327,762Net Income 2018: $952,2412018Revenue 2019: $41,141,264Expenses 2019: $33,656,493Net Income 2019: $7,484,7712019Revenue 2020: $41,958,625Expenses 2020: $36,161,672Net Income 2020: $5,796,9532020Revenue 2021: $43,083,150Expenses 2021: $37,521,666Net Income 2021: $5,561,4842021Revenue 2022: $45,137,134Expenses 2022: $39,900,606Net Income 2022: $5,236,5282022Revenue 2023: $47,451,904Expenses 2023: $45,049,804Net Income 2023: $2,402,1002023Revenue 2024: $48,234,968Expenses 2024: $46,273,246Net Income 2024: $1,961,7222024

Highlighted filing

2022

Revenue$45,137,134
Expenses$39,900,606
Net Income$5,236,528
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$45,137,134
Mission and Program Overview

Mission

To bring the world of information and imagination to all people of our community

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$31,750,863$37,574,651▲ $5,823,788
Savings and Temporary Cash Investments$30,468,538$36,739,026▲ $6,270,488
Land, Buildings, and Equipment, Net$10,452,091$9,842,880▼ $609,211
Pd in Cap Srpls Land Bldg Eqp Fund$10,452,091$9,842,880▼ $609,211
Cash and Non-Interest-Bearing Accounts$1,990,247$1,807,693▼ $182,554
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$42,910,876$48,389,599▲ $5,478,723
Liabilities
Accounts Payable and Accrued Expenses$707,922$972,068▲ $264,146
Total Liabilities$707,922$972,068▲ $264,146
Net Assets / Fund Balance
Total Net Assets Fund Balance$42,202,954$47,417,531▲ $5,214,577
Total Liabilities and Net Assets / Fund Balance$42,910,876$48,389,599▲ $5,478,723

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,068,786$18,962,874$25,031,660
Land$3,774,094-$3,774,094
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Clifford JoBusiness/compliance DirectorFT$177,501$29,329$206,830
Cheree GreenStaff Experience DirectorFT$174,132$19,893$194,025
Mary GetchellMarketing & CommunicationsFT$166,028$18,622$184,650
Melinda ChesbroDeputy DirectorFT$156,103$28,425$184,528
Stephanie RatkoIt ManagerFT$161,736$18,206$179,942
Dean CarrellFoundation DirectorFT$151,023$28,743$179,766
Gretchen CaserottiExecutive DirectorFT$109,804$19,773$129,577

Board Members and Trustees

NameTitle
Pat JenkinsTrustee/chair
Jamilyn PennTrustee/vice Chair
Abby SloanTrustee/member
Neesha PatelTrustee/member
Pamela DuncanTrustee/member
Revenue and Support

Revenue Composition

Contributions and Grants
$453,685
Program Service Revenue
$44,078,585
Investment Income
$520,605
Other Revenue
$84,259
All Other Contributions
$293,372
Change in Net Assets
$5,236,528

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,762,116
Other Expenses$13,138,490
Total Fundraising Expense$604,032
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$17,823,533$1,597,733$465,040$19,886,306
Other Employee Benefits$2,765,384$212,222$55,379$3,032,985
Information Technology$2,909,521$4,828-$2,914,349
Pension Plan Contributions$1,777,289$188,601$47,695$2,013,585
Occupancy$1,584,814$46,635-$1,631,449
Payroll Taxes$1,321,527$137,170$34,135$1,492,832
Fees for Services Management$897,197$281,389-$1,178,586
Office Expenses$662,652$35,791$296$698,739
Depreciation Depletion-$609,211-$609,211
Insurance-$357,022-$357,022
Current Officers, Directors, Trustees, and Key Employees-$336,408-$336,408
Fees for Services Other$310,226--$310,226
Fees for Services Legal$29,798$109,392-$139,190
Advertising$115,142$18,466-$133,608
Travel$103,151$12,243$335$115,729
Conferences and Meetings$19,321$20,828$1,152$41,301
Other Expenses$39,932$512-$39,932
All Other Expenses$5,141$26,005-$31,146
Total Functional Expenses$35,302,118$3,994,456$604,032$39,900,606
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Each member of the board of directors is provided with a copy of the form 990 before it is filed. When each board member completes their review of the form 990 they sign and date a document stating they have completed their review. The signed document is retained with a copy of the form 990.

Form 990, Part VI, Section B, Line 12C

If a possible conflict of interest occurs, each board member is required to disclose the possible conflict at the next meeting of the board of trustees. The board of trustees will then discuss the best resolution of the conflict.

Form 990, Part VI, Section B, Line 15

Compensation is based on a review that is compiled and distributed to the board members. The board members conduct an annual performance review of the executive director, during which time the salary is negotiated.

Form 990, Part VI, Section C, Line 18

Copies of form 990 and form 1023 are provided to anyone who requests a copy.

Form 990, Part VI, Section C, Line 19

Copies of conflict of interest policy are provided to anyone who requests a copy.

Filing and Contact Details

Filer

Filer Name
Pierce County Rural Library District
EIN
91-1098071
Phone
2535366500
Address
3005 112TH ST E, TACOMA, WA 98446-2215

Signing Officer

Name
Gretchen Caserotti
Title
Executive Director
Phone
2535366500
Signed
2023-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gretchen Caserotti
Formed
1946
Legal Domicile
Wa
Voting Board Members
5
Independent Board Members
5
Employees
393
Volunteers
50

Preparer

Firm
Dp&c
Address
PO BOX 1614, TACOMA, WA 98401-1614
Preparer
Ed E Ramos CPA
Phone
2535729922
Supplemental Narrative

Additional Explanations

Form 990 Part XII, Line 1

The financial statements are on a cash basis that includes certain receivables, unearned assessement revenue, and accrued benefits.

FORM 990, PART XI, LINE 8 CHANGES IN NET ASSETS:

The library implemented a new accounting software in 2022. As part of the migration process, it was noted that 2021 ending balance was overstated by $21,951. The beginning balance on january 2022 balance was adjusted to unassigned fund balance to correct the overstatement.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.0$1.20$51.8$48.2$46.3$1.96
2023Detailed filing. Detailed filing data is available for this year.$50.9$1.11$49.8$47.5$45.0$2.40
2022Detailed filing. Detailed filing data is available for this year.$48.4$0.97$47.4$45.1$39.9$5.24
2021Detailed filing. Detailed filing data is available for this year.$42.9$0.71$42.2$43.1$37.5$5.56
2020Detailed filing. Detailed filing data is available for this year.$37.6$0.94$36.6$42.0$36.2$5.80
2019Detailed filing. Detailed filing data is available for this year.$31.7$0.87$30.8$41.1$33.7$7.48
2018Detailed filing. Detailed filing data is available for this year.$24.7$1.29$23.4$32.3$31.3$0.95
2017Detailed filing. Detailed filing data is available for this year.$24.5$2.06$22.4$30.9$32.2$1.29
2016Detailed filing. Detailed filing data is available for this year.$18.5$0.96$17.5$30.4$30.3$0.08
2015Detailed filing. Detailed filing data is available for this year.$18.5$1.11$17.4$28.6$30.3$1.68
2014Detailed filing. Detailed filing data is available for this year.$19.9$0.78$19.1$26.5$27.5$1.01
2013Detailed filing. Detailed filing data is available for this year.$21.2$1.12$20.1$25.2$27.5$2.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.1$4.13$21.0$28.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.3$3.41$67.9$30.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.4$3.22$69.1$29.4