Civic Intelligence

Reading Power Inc.

990 • Fiscal year 2019 • EIN 20-2916846

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 15, 2020

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

32nd percentile

0.00x

Higher debt load relative to assets than 32% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

31st percentile

0.00x

Higher debt load relative to revenue than 31% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

83rd percentile

29%

Higher net margin than 83% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

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.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

87th percentile

42%

Faster asset growth than 87% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

80th percentile

33%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Up

$809,758

Up $240,834 (+42%) from 2018

Net Assets

Up

$808,028

Up $239,534 (+42%) from 2018

Liabilities

Up

$1,730

Up $1,300 (+302%) from 2018

Revenue

Up

$840,216

Up $209,116 (+33%) from 2018

Expenses

Up

$600,682

Up $106,734 (+22%) from 2018

Net Income

Up

$239,534

Up $102,382 (+75%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$809,758
Liabilities$1,730
Net Assets$808,028

Operations Trend

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

2019

Revenue$840,216
Expenses$600,682
Net Income$239,534
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 15, 2020
Return Version
2018v3.1
Gross Receipts
$840,216
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$566,424$809,758▲ $243,334
Accounts Receivable$2,500$0▼ $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$568,924$809,758▲ $240,834
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$430$1,730▲ $1,300
Total Liabilities$430$1,730▲ $1,300
Net Assets / Fund Balance
Unrestricted Net Assets$563,090$794,288▲ $231,198
Temporarily Rstr Net Assets$5,404$13,740▲ $8,336
Total Net Assets Fund Balance$568,494$808,028▲ $239,534
Total Liabilities and Net Assets / Fund Balance$568,924$809,758▲ $240,834
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$834,846
Program Service Revenue
$0
Investment Income
$5,370
Other Revenue
$0
All Other Contributions
$834,846
Change in Net Assets
$239,534

Audited Revenue Reconciliation

Revenue per Audited Statements
$840,216
Revenue Not Reported on Form 990
$295,016
Total Revenue per Audited Statements
$1,135,232
Total Revenue per Form 990
$840,216
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$425,606
Other Expenses$175,076
Total Fundraising Expense$94,354
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$263,604-$31,842$295,446
Current Officers, Directors, Trustees, and Key Employees$93,000--$93,000
Advertising--$45,339$45,339
Payroll Taxes$29,018-$3,142$32,160
All Other Expenses$21,126-$3,782$24,908
Other Expenses$9,179-$9,229$9,179
Insurance$7,640$991-$8,631
Fees for Services Accounting-$7,050-$7,050
Conferences and Meetings$5,516--$5,516
Other Employee Benefits$4,100-$900$5,000
Occupancy-$3,600-$3,600
Total Functional Expenses$494,687$11,641$94,354$600,682

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$895,698
Expenses per Audited Statements$600,682
Total Expenses per Form 990$600,682
Expenses Not Reported on Form 990$295,016
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
2020-01-15
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
16
Employees
15
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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Filings

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
2019Detailed filing. Detailed filing data is available for this year.$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
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