Civic Intelligence

Reading Power Inc.

990 • Fiscal year 2017 • EIN 20-2916846

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 16, 2017

Organization ProfileREADINGPOWERINC.ORG
736 North Western AveLake Forest, IL 60045

(312) 288-8237

Siviq Scores

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

Liabilities / Assets

61st percentile

0.01x

Higher debt load relative to assets than 61% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

61st percentile

0.01x

Higher debt load relative to revenue than 61% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

65th percentile

11%

Higher net margin than 65% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

67th percentile

14%

Faster asset growth than 67% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

64th percentile

11%

Faster revenue growth than 64% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$434,100

Up $54,292 (+14%) from 2016

Net Assets

Up

$431,342

Up $51,534 (+14%) from 2016

Liabilities

Up

$2,758

Up $2,758 from 2016

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin65th percentile

Revenue

Up

$457,054

Up $46,346 (+11%) from 2016

Expenses

Up

$405,520

Up $38,004 (+10%) from 2016

Net Income

Up

$51,534

Up $8,342 (+19%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $340,739Liabilities 2011: $22,539Net Assets 2011: $318,2002011Assets 2012: $389,840Liabilities 2012: $22,754Net Assets 2012: $367,0862012Assets 2013: $415,303Liabilities 2013: $4,615Net Assets 2013: $410,6882013Assets 2014: $441,333Liabilities 2014: $19,725Net Assets 2014: $421,6082014Assets 2015: $336,616Liabilities 2015: $0Net Assets 2015: $336,6162015Assets 2016: $379,808Liabilities 2016: $0Net Assets 2016: $379,8082016Assets 2017: $434,100Liabilities 2017: $2,758Net Assets 2017: $431,3422017Assets 2018: $568,924Liabilities 2018: $430Net Assets 2018: $568,4942018Assets 2019: $809,758Liabilities 2019: $1,730Net Assets 2019: $808,0282019Assets 2020: $907,456Liabilities 2020: $94,201Net Assets 2020: $813,2552020Assets 2021: $927,019Liabilities 2021: $7,237Net Assets 2021: $919,7822021Assets 2022: $984,195Liabilities 2022: $53,572Net Assets 2022: $930,6232022Assets 2023: $1,182,434Liabilities 2023: $404,941Net Assets 2023: $777,4932023Assets 2024: $1,359,797Liabilities 2024: $313,063Net Assets 2024: $1,046,7342024

Highlighted filing

2017

Assets$434,100
Liabilities$2,758
Net Assets$431,342
Open 2017 Filing

Operations Trend

Revenue Growth64th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $241,214Expenses 2011: $216,085Net Income 2011: $25,1292011Revenue 2012: $315,447Expenses 2012: $266,561Net Income 2012: $48,8862012Revenue 2013: $368,798Expenses 2013: $325,196Net Income 2013: $43,6022013Revenue 2014: $326,111Expenses 2014: $315,191Net Income 2014: $10,9202014Revenue 2015: $287,943Expenses 2015: $372,935Net Income 2015: -$84,9922015Revenue 2016: $410,708Expenses 2016: $367,516Net Income 2016: $43,1922016Revenue 2017: $457,054Expenses 2017: $405,520Net Income 2017: $51,5342017Revenue 2018: $631,100Expenses 2018: $493,948Net Income 2018: $137,1522018Revenue 2019: $840,216Expenses 2019: $600,682Net Income 2019: $239,5342019Revenue 2020: $652,171Expenses 2020: $646,944Net Income 2020: $5,2272020Revenue 2021: $863,663Expenses 2021: $757,136Net Income 2021: $106,5272021Revenue 2022: $1,035,570Expenses 2022: $1,024,729Net Income 2022: $10,8412022Revenue 2023: $1,242,929Expenses 2023: $1,396,059Net Income 2023: -$153,1302023Revenue 2024: $1,917,784Expenses 2024: $1,597,424Net Income 2024: $320,3602024

Highlighted filing

2017

Revenue$457,054
Expenses$405,520
Net Income$51,534
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 16, 2017
Return Version
2016v3.0
Gross Receipts
$457,054
Mission and Program Overview

Mission

Reading power, inc is a not for profit literacy tutoring program serving low-achieving children attending elementary schools. Their mission is to accelerate children's literacy learning and to develop in them a love of reading and writing. This goal is accomplished through an independent tutoring program working in partnership with the schools. The belief is that all children deserve to reach their academic potential.

Reading power, inc is a not for profit literacy tutoring program serving low-achieving children attending elementary schools. Their mission is to accelerate children's literacy learning and to develop in them a love of reading and writing. This goal is accomplished through an independent tutoring program workin in partnership with the schools. The belief is that all children deserve to reach their academic potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$372,308$429,100▲ $56,792
Accounts Receivable$7,500$5,000▼ $2,500
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$379,808$434,100▲ $54,292
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$2,758-
Total Liabilities$0$2,758▲ $2,758
Net Assets / Fund Balance
Unrestricted Net Assets$379,808$431,342▲ $51,534
Total Net Assets Fund Balance$379,808$431,342▲ $51,534
Total Liabilities and Net Assets / Fund Balance$379,808$434,100▲ $54,292
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Kathy McfarlandChairman
Beverly RaudabaughVice Chairman
Ann BatesDirector
Betsy RosenfieldDirector
Frank SibleyDirector
Germaine ArnsonDirector
Jim ChomkoDirector
John DavidsonDirector
Mark GoodmanDirector
Mary Jane HenderDirector
Mary WeberDirector
Melinda MooneyDirector
Tad Walgreen IiDirector
Thomas WoodDirector
Todd LitzsingerDirector
Kathleen CowieSecretary
Nancy SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$456,806
Program Service Revenue
$0
Investment Income
$248
Other Revenue
$0
All Other Contributions
$456,806
Change in Net Assets
$51,534

Audited Revenue Reconciliation

Revenue per Audited Statements
$457,054
Revenue Not Reported on Form 990
$221,314
Total Revenue per Audited Statements
$678,368
Total Revenue per Form 990
$457,054
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$321,840
Other Expenses$83,680
Total Fundraising Expense$71,122
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$181,876-$27,406$209,282
Current Officers, Directors, Trustees, and Key Employees$78,572-$3,446$82,018
Payroll Taxes$21,970-$1,570$23,540
All Other Expenses$9,187-$3,887$13,074
Other Employee Benefits$6,708-$292$7,000
Other Expenses$5,526-$2,193$5,526
Fees for Services Accounting-$5,500-$5,500
Insurance$3,260$860-$4,120
Advertising--$2,963$2,963
Conferences and Meetings$2,931--$2,931
Occupancy-$2,400-$2,400
Total Functional Expenses$325,638$8,760$71,122$405,520

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$626,834
Expenses per Audited Statements$405,520
Total Expenses per Form 990$405,520
Expenses Not Reported on Form 990$221,314
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“A nominating committe suggests a slate of officers which is subsequently voted on by the board of directors”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Motions are approved at board meetings”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The form 990 is presented to the president and treasurer of the board for their review before filing. They discuss items of concern, if any, with the other members of the board.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation discussed at board meetings and approved.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Employee compensation is discussed at board meetings and approved as part of annual budgeting process as well as part of any new hire proposal.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Govening documents, internal policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Reading Power Inc
EIN
20-2916846
Phone
3122888237
Address
736 NORTH WESTERN AVE, LAKE FOREST, IL 60045

Signing Officer

Name
Kathy Mcfarland
Title
CEO
Signed
2017-11-16
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Il
Voting Board Members
17
Independent Board Members
17
Employees
10
Volunteers
186

Preparer

Firm
Schneiderman Kohn Winston Ltd
Address
6035 N Northwest Hwy Ste301, Chicago, IL 60631
Preparer
Neal Winston
Phone
7736313055
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IRS990/Form990PartVIISectionAGrp/TitleTxt11Treasurer
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IRS990/OnBehalfOfIssuerInd0false
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IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt06708
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IRS990/OtherExpensesGrp/TotalAmt35526
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0181876
IRS990/OtherSalariesAndWagesGrp/TotalAmt0209282
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
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IRS990/PayrollTaxesGrp/TotalAmt023540
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IRS990/ProfessionalFundraisingInd0false
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IRS990/PYSalariesCompEmpBnftPaidAmt0301536
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$434,100
Liabilities
$2,758
Net assets
$431,342
Revenue
$457,054
Expenses
$405,520
Net income
$51,534
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.31$1.05$1.92$1.60$0.32
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.40$0.78$1.24$1.40$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.05$0.93$1.04$1.02$0.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.01$0.92$0.86$0.76$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.09$0.81$0.65$0.65$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.81$0.00$0.81$0.84$0.60$0.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.00$0.57$0.63$0.49$0.14
2017Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.43$0.46$0.41$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.38$0.41$0.37$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$0.29$0.37$0.08
2014Summary only. Only limited summary data is available for this year.$0.44$0.02$0.42$0.33$0.32$0.01
2013Summary only. Only limited summary data is available for this year.$0.42$0.00$0.41$0.37$0.33$0.04
2012Summary only. Only limited summary data is available for this year.$0.39$0.02$0.37$0.32$0.27$0.05
2011Summary only. Only limited summary data is available for this year.$0.34$0.02$0.32$0.24$0.22$0.03