Civic Intelligence

Reading Power Inc.

990 • Fiscal year 2018 • EIN 20-2916846

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 03, 2018

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

29th percentile

0.00x

Higher debt load relative to assets than 29% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

28th percentile

0.00x

Higher debt load relative to revenue than 28% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

79th percentile

22%

Higher net margin than 79% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

84th percentile

31%

Faster asset growth than 84% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

83rd percentile

38%

Faster revenue growth than 83% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$568,924

Up $134,824 (+31%) from 2017

Net Assets

Up

$568,494

Up $137,152 (+32%) from 2017

Liabilities

Down

$430

Down $2,328 (-84%) from 2017

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin79th percentile

Revenue

Up

$631,100

Up $174,046 (+38%) from 2017

Expenses

Up

$493,948

Up $88,428 (+22%) from 2017

Net Income

Up

$137,152

Up $85,618 (+166%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2018

Assets$568,924
Liabilities$430
Net Assets$568,494
Open 2018 Filing

Operations Trend

Revenue Growth83rd 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

2018

Revenue$631,100
Expenses$493,948
Net Income$137,152
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 3, 2018
Return Version
2017v2.2
Gross Receipts
$631,100
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$429,100$566,424▲ $137,324
Accounts Receivable$5,000$2,500▼ $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$434,100$568,924▲ $134,824
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$2,758$430▼ $2,328
Total Liabilities$2,758$430▼ $2,328
Net Assets / Fund Balance
Unrestricted Net Assets$431,342$563,090▲ $131,748
Temporarily Rstr Net Assets-$5,404-
Total Net Assets Fund Balance$431,342$568,494▲ $137,152
Total Liabilities and Net Assets / Fund Balance$434,100$568,924▲ $134,824
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$629,695
Program Service Revenue
$0
Investment Income
$1,405
Other Revenue
$0
All Other Contributions
$629,695
Change in Net Assets
$137,152

Audited Revenue Reconciliation

Revenue per Audited Statements
$631,100
Revenue Not Reported on Form 990
$247,068
Total Revenue per Audited Statements
$878,168
Total Revenue per Form 990
$631,100
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$358,459
Other Expenses$135,489
Total Fundraising Expense$100,906
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$192,610-$25,334$217,944
Current Officers, Directors, Trustees, and Key Employees$104,804--$104,804
Payroll Taxes$24,221-$4,865$29,086
Advertising--$27,714$27,714
All Other Expenses$12,950-$1,512$14,462
Other Employee Benefits$5,482-$1,143$6,625
Fees for Services Accounting-$6,175-$6,175
Other Expenses$2,458-$2,021$4,479
Insurance$3,442$860-$4,302
Conferences and Meetings$3,766--$3,766
Occupancy-$2,400-$2,400
Total Functional Expenses$383,607$9,435$100,906$493,948

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$741,016
Expenses per Audited Statements$493,948
Total Expenses per Form 990$493,948
Expenses Not Reported on Form 990$247,068
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
2018-12-03
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
16
Employees
12
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/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0READING 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.
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IRS990/OperateHospitalInd0false
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IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01143
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt05482
IRS990/OtherEmployeeBenefitsGrp/TotalAmt06625
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IRS990/OtherExpensesGrp/Desc2COMMUNICATION
IRS990/OtherExpensesGrp/Desc3TRAINING MATERIALS
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IRS990/OtherExpensesGrp/FundraisingAmt11650
IRS990/OtherExpensesGrp/FundraisingAmt22021
IRS990/OtherExpensesGrp/ProgramServicesAmt028454
IRS990/OtherExpensesGrp/ProgramServicesAmt15420
IRS990/OtherExpensesGrp/ProgramServicesAmt22458
IRS990/OtherExpensesGrp/TotalAmt036667
IRS990/OtherExpensesGrp/TotalAmt128454
IRS990/OtherExpensesGrp/TotalAmt27070
IRS990/OtherExpensesGrp/TotalAmt34479
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt025334
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0192610
IRS990/OtherSalariesAndWagesGrp/TotalAmt0217944
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt04865
IRS990/PayrollTaxesGrp/ProgramServicesAmt024221
IRS990/PayrollTaxesGrp/TotalAmt029086
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0456806
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0248
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt083680
IRS990/PYRevenuesLessExpensesAmt051534
IRS990/PYSalariesCompEmpBnftPaidAmt0321840
IRS990/PYTotalExpensesAmt0405520
IRS990/PYTotalRevenueAmt0457054
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0137152
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt058000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt040000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0358000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0629695
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt020
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0629695
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0410678

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$568,924
Liabilities
$430
Net assets
$568,494
Revenue
$631,100
Expenses
$493,948
Net income
$137,152
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
2018Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.63$0.49$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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