Civic Intelligence

Freedom to Read Foundation

990 • Fiscal year 2015 • EIN 23-7102086

Sep 01, 2014 to Aug 31, 2015 • Filed on Nov 16, 2015

50 East Huron StreetChicago, IL 60611

(312) 944-6780

Siviq Scores

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

Liabilities / Assets

55th percentile

0.14x

Higher debt load relative to assets than 55% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

0.74x

Higher debt load relative to revenue than 81% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

8th percentile

-37%

Higher net margin than 8% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

72nd percentile

$106,080

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 48.4% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

14th percentile

-8.5%

Faster asset growth than 14% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

9th percentile

-33%

Faster revenue growth than 9% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,123,216

Down $104,698 (-8.5%) from 2014

Net Assets

Down

$962,078

Down $150,538 (-14%) from 2014

Liabilities

Up

$161,138

Up $45,840 (+40%) from 2014

Revenue

Down

$219,020

Down $108,579 (-33%) from 2014

Expenses

Up

$300,812

Up $42,699 (+17%) from 2014

Net Income

Down

-$81,792

Down $151,278 (-218%) from 2014

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2014: $1,227,914Liabilities 2014: $115,298Net Assets 2014: $1,112,6162014Assets 2015: $1,123,216Liabilities 2015: $161,138Net Assets 2015: $962,0782015Assets 2016: $1,119,975Liabilities 2016: $187,189Net Assets 2016: $932,7862016Assets 2019: $1,383,530Liabilities 2019: $95,842Net Assets 2019: $1,287,6882019Assets 2020: $2,071,080Liabilities 2020: $73,588Net Assets 2020: $1,997,4922020Assets 2021: $2,379,346Liabilities 2021: $86,985Net Assets 2021: $2,292,3612021Assets 2022: $2,059,511Liabilities 2022: $114,215Net Assets 2022: $1,945,2962022Assets 2023: $2,190,407Liabilities 2023: $118,797Net Assets 2023: $2,071,6102023Assets 2024: $2,588,477Liabilities 2024: $150,546Net Assets 2024: $2,437,9312024

Highlighted filing

2015

Assets$1,123,216
Liabilities$161,138
Net Assets$962,078

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $327,599Expenses 2014: $258,113Net Income 2014: $69,4862014Revenue 2015: $219,020Expenses 2015: $300,812Net Income 2015: -$81,7922015Revenue 2016: $199,987Expenses 2016: $250,471Net Income 2016: -$50,4842016Revenue 2019: $491,117Expenses 2019: $258,041Net Income 2019: $233,0762019Revenue 2020: $1,017,433Expenses 2020: $324,276Net Income 2020: $693,1572020Revenue 2021: $272,000Expenses 2021: $250,583Net Income 2021: $21,4172021Revenue 2022: $283,365Expenses 2022: $394,635Net Income 2022: -$111,2702022Revenue 2023: $400,005Expenses 2023: $390,688Net Income 2023: $9,3172023Revenue 2024: $570,518Expenses 2024: $441,498Net Income 2024: $129,0202024

Highlighted filing

2015

Revenue$219,020
Expenses$300,812
Net Income-$81,792
Jump To
Filing Snapshot
Filing Period
Sep 1, 2014 to Aug 31, 2015
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$233,914
Mission and Program Overview

Mission

Promote and protect the freedom of speech and the press and protect the public's right of access to information and materials stored in the nation's libraries.

Promote freedom of speech and the press

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,066,321$1,052,919▼ $13,402
Savings and Temporary Cash Investments$53,540$43,948▼ $9,592
Cash and Non-Interest-Bearing Accounts$101,720$23,253▼ $78,467
Land, Buildings, and Equipment, Net$3,237$0▼ $3,237
Prepaid Expenses and Deferred Charges$3,096$3,096→ $0
Total Assets$1,227,914$1,123,216▼ $104,698
Liabilities
Accounts Payable and Accrued Expenses$115,298$161,138▲ $45,840
Total Liabilities$115,298$161,138▲ $45,840
Net Assets / Fund Balance
Unrestricted Net Assets$1,085,474$935,866▼ $149,608
Temporarily Rstr Net Assets$27,142$26,212▼ $930
Total Net Assets Fund Balance$1,112,616$962,078▼ $150,538
Total Liabilities and Net Assets / Fund Balance$1,227,914$1,123,216▼ $104,698

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$12,290$12,290
Compensation and Service Providers

Employees

NameTitleOtherTotal
Barbara M JonesExcutive Director and Secr$106,080$106,080

Board Members and Trustees

NameTitle
J Douglas ArcherAla Ifc Chair
Courtney YoungAla President Elect
Sari FeldmanAla President Elect
Julius C Jefferson JrPresident
Robert P DoyleVice President
Keith Michael FieldsAla Executive Director
Chris FinanDirector
Em Clare KnowlesDirector
Eva PooleDirector
Gretchen MccordDirector
Helen AdamsDirector
Herbert KrugDirector
Kathy IshizukaDirector
Martin GarnarDirector
James G NealTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$184,562
Program Service Revenue
$0
Investment Income
$45,753
Other Revenue
$-11,295
All Other Contributions
$28,072
Change in Net Assets
$-81,792

Audited Revenue Reconciliation

Revenue per Audited Statements
$233,914
Revenue Not Reported on Financial Statements
$-14,894
Revenue Not Reported on Form 990
$-68,747
Other Revenue Adjustments
$-14,894
Total Revenue per Audited Statements
$165,167
Total Revenue per Form 990
$219,020
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$126,052
Other Expenses$124,915
Grants and Similar Amounts Paid$49,845
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$107,202$18,850-$126,052
Grants to Domestic Orgs$49,845--$49,845
Advertising$16,289$6,471-$22,760
Conferences and Meetings$19,874--$19,874
Fees for Services Accounting-$17,630-$17,630
Office Expenses$1,825$5,474-$7,299
Depreciation Depletion-$3,237-$3,237
Other Expenses$4,115$3,134-$3,134
All Other Expenses$270$809-$1,079
Total Functional Expenses$245,207$55,605$0$300,812

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$315,706
Expenses per Audited Statements$300,812
Total Expenses per Form 990$300,812
Expenses Not Reported on Form 990$14,894
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Media CoalitionNew York, NY-To Promote and Protect the Freedon of Speech and of the Press.$33,845
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$14,894
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$9,525-$2,940-
Total Events$9,525-$14,894$-14,894
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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 11

The executive director and program coordinator review the form 990 in detail and then it is discussed with the entire board of directors before finalizing and filing.

Form 990, Part VI, Section C, Line 19

Organization makes its governing documents and financial statements available to the public via the internet and upon request.

Filing and Contact Details

Filer

Filer Name
Freedom to Read Foundation
EIN
23-7102086
Phone
3129446780
Address
50 EAST HURON STREET, CHICAGO, IL 60611

Signing Officer

Name
Barbara M Jones
Title
Executive Director
Phone
3129446780
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara M Jones
Formed
1969
Legal Domicile
Il
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
0

Preparer

Firm
Steinberg Advisors Ltd
Address
5 REVERE DRIVE, NORTHBROOK, IL 60062
Preparer
Richard D Spiegel CPA
Phone
8472054700
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Unrealized loss on investments -68,746.

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Fundraising expenses allocated to revenue

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses allocated to revenue

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IRS990/OtherExpensesGrp/Desc3BANK FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03134
IRS990/OtherExpensesGrp/ProgramServicesAmt034592
IRS990/OtherExpensesGrp/ProgramServicesAmt111195
IRS990/OtherExpensesGrp/ProgramServicesAmt24115
IRS990/OtherExpensesGrp/TotalAmt034592
IRS990/OtherExpensesGrp/TotalAmt111195
IRS990/OtherExpensesGrp/TotalAmt24115
IRS990/OtherExpensesGrp/TotalAmt33134
IRS990/OtherRevenueMiscGrp/BusinessCd0451211
IRS990/OtherRevenueMiscGrp/Desc0BOOK SALES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03599
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03599
IRS990/OtherRevenueTotalAmt03599
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03096
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03096
IRS990/PrincipalOfficerNm0BARBARA M JONES
IRS990/ProfessionalFundraisingInd01
IRS990/ProgSrvcAccomActy2Grp/Desc0LEGAL CHALLENGES
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0184167
IRS990/ProgSrvcAccomActy3Grp/Desc0AWARDS. SERVED TWO INDIVIDUALS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt011195
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0262341
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt050924
IRS990/PYInvestmentIncomeAmt063030
IRS990/PYOtherExpensesAmt0119345
IRS990/PYOtherRevenueAmt02228
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt069486
IRS990/PYSalariesCompEmpBnftPaidAmt087844
IRS990/PYTotalExpensesAmt0258113
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0327599
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-81792
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt053540
IRS990/SavingsAndTempCashInvstGrp/EOYAmt043948
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0184562
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0262341
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0155175
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0180134
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0180579
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0962791
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt044829
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt057586
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt042408
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt032485
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt017400
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0194708
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt03599
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02228
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt04487
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt04477
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt014119
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt028910
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt044829
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt057586
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt042408
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt032485
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt017400
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0194708
IRS990ScheduleA/InvestmentIncomeCYPct00.16410
IRS990ScheduleA/InvestmentIncomePYPct00.15030
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.83590
IRS990ScheduleA/PublicSupportPY509Pct00.84970
IRS990ScheduleA/PublicSupportTotal509Amt0991701
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0188161
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0264569
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0159662
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0184611
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0194698
IRS990ScheduleA/Total509Grp/TotalAmt0991701
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0232990
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0322155
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0202070
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0217096
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0212098
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01186409
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt014894
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0300812
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-68747
IRS990ScheduleD/OtherExpensesIncludedAmt014894
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012290
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012290
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-14894
IRS990ScheduleD/RevenueNotReportedAmt0-68747
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-14894
IRS990ScheduleD/RevenueSubtotalAmt0233914
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES ALLOCATED TO REVENUE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES ALLOCATED TO REVENUE
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0300812
IRS990ScheduleD/TotalRevenuePerForm990Amt0219020
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0165167
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0315706
IRS990ScheduleG/AgrmtProfFundraisingActyInd00
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt09525
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt09525
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt014894
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt09525
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt09525
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-14894
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt02940
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02940
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt011954
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt011954
IRS990ScheduleG/LicensedStatesCd0IL
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt033845
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PROMOTE AND PROTECT THE FREEDON OF SPEECH AND OF THE PRESS.

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