Civic Intelligence

Reading Power Inc.

990 • Fiscal year 2022 • EIN 20-2916846

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 28, 2023

Organization ProfileREADINGPOWERINC.ORG
736 North Western Ave 226Lake Forest, IL 60045

(847) 436-8060

Siviq Scores

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

Liabilities / Assets

48th percentile

0.05x

Higher debt load relative to assets than 48% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

42nd percentile

0.05x

Higher debt load relative to revenue than 42% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

38th percentile

1.0%

Higher net margin than 38% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

77th percentile

$122,750

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

61st percentile

6.2%

Faster asset growth than 61% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

66th percentile

20%

Faster revenue growth than 66% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$984,195

Up $57,176 (+6.2%) from 2021

Net Assets

Up

$930,623

Up $10,841 (+1.2%) from 2021

Liabilities

Up

$53,572

Up $46,335 (+640%) from 2021

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin38th percentile

Revenue

Up

$1,035,570

Up $171,907 (+20%) from 2021

Expenses

Up

$1,024,729

Up $267,593 (+35%) from 2021

Net Income

Down

$10,841

Down $95,686 (-90%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth61st 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

2022

Assets$984,195
Liabilities$53,572
Net Assets$930,623
Open 2022 Filing

Operations Trend

Revenue Growth66th 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

2022

Revenue$1,035,570
Expenses$1,024,729
Net Income$10,841
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 28, 2023
Return Version
2021v4.1
Gross Receipts
$1,086,813
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$896,898$946,682▲ $49,784
Land, Buildings, and Equipment, Net$28,942$35,813▲ $6,871
Prepaid Expenses and Deferred Charges$1,179$1,700▲ $521
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$927,019$984,195▲ $57,176
Other Assets Total-$0-
Liabilities
Other Liabilities-$40,880-
Accounts Payable and Accrued Expenses$7,237$12,692▲ $5,455
Total Liabilities$7,237$53,572▲ $46,335
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$884,904$905,865▲ $20,961
Net Assets With Donor Restrictions$34,878$24,758▼ $10,120
Total Net Assets Fund Balance$919,782$930,623▲ $10,841
Total Liabilities and Net Assets / Fund Balance$927,019$984,195▲ $57,176

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$35,813$12,953$48,766
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lisa BulzoniCEOFT$122,750$122,750
Kathy McfarlandChairman-$91,667$91,667
Kristin FineDirector of ProgramsFT$72,750$72,750

Board Members and Trustees

NameTitle
Marra LochiattoVice Chairman
Ann BatesDirector
Beverly RaudabaughDirector
Frank SibleyDirector
Jacalyn Ramdin-johnsonDirector
John DavidsonDirector
Mary Jane HenderDirector
Mary WeberDirector
Melinda MooneyDirector
Rahul MalhotraDirector
Rob DavisDirector
Tad TurnerDirector
Thomas WoodDirector
Todd LitzsingerDirector
Kathleen CowieSecretary
James YoungTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$856,062
Program Service Revenue
$0
Investment Income
$828
Other Revenue
$178,680
All Other Contributions
$856,062
Change in Net Assets
$10,841

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,035,570
Revenue Not Reported on Form 990
$188,055
Total Revenue per Audited Statements
$1,223,625
Total Revenue per Form 990
$1,035,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$754,909
Other Expenses$269,820
Total Fundraising Expense$166,209
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$309,639-$88,930$398,569
Current Officers, Directors, Trustees, and Key Employees$263,534$5,908$17,725$287,167
Payroll Taxes$46,146-$8,790$54,936
Advertising$4,359-$33,215$37,574
Occupancy$16,320-$4,080$20,400
All Other Expenses$7,019$204$9,684$16,907
Information Technology$13,358-$1,410$14,768
Fees for Services Accounting$10,785$3,369$368$14,522
Other Employee Benefits$14,237--$14,237
Office Expenses$4,888$6,484$991$12,363
Conferences and Meetings$11,680--$11,680
Other Expenses$9,033$13,888-$9,033
Depreciation Depletion$8,705--$8,705
Insurance$5,337$1,068$1,016$7,421
Total Functional Expenses$827,599$30,921$166,209$1,024,729

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,212,784
Expenses per Audited Statements$1,024,729
Total Expenses per Form 990$1,024,729
Expenses Not Reported on Form 990$188,055
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$229,923
Fundraising Direct Expenses$51,243
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Events Income$229,923$229,923$51,243$178,680
Total Events$229,923$229,923$51,243$178,680
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advances$40,880
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
8474368060
Address
736 NORTH WESTERN AVE 226, LAKE FOREST, IL 60045

Signing Officer

Name
Lisa Bulzoni
Title
CEO
Signed
2023-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Bulzoni
Formed
2005
Legal Domicile
Il
Voting Board Members
17
Independent Board Members
16
Employees
23
Volunteers
208

Preparer

Firm
PBG Financial Services PLLC
Address
666 Dundee Rd Ste 401, Northbrook, IL 60062
Preparer
Neal Winston
Phone
8472911400
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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$984,195
Liabilities
$53,572
Net assets
$930,623
Revenue
$1,035,570
Expenses
$1,024,729
Net income
$10,841
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
2022Detailed filing. Detailed filing data is available for this year.$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
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