Civic Intelligence

Freedom Readers Inc.

990 • Fiscal year 2020 • EIN 27-2517686

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 05, 2021

Organization ProfileWWW.FREEDOMREADERS.ORG
1012 16th Avenue NWSurfside Beach, SC 29575

(843) 331-8562

Siviq Scores

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

Liabilities / Assets

81st percentile

0.21x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

80th percentile

0.15x

Higher debt load relative to revenue than 80% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

66th percentile

17%

Higher net margin than 66% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$54,226

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 27.9% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

85th percentile

80%

Faster asset growth than 85% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

53rd percentile

-11%

Faster revenue growth than 53% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$139,003

Up $61,900 (+80%) from 2019

Net Assets

Up

$109,888

Up $32,785 (+43%) from 2019

Liabilities

Up

$29,115

Up $29,115 from 2019

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin66th percentile

Revenue

Down

$194,132

Down $23,431 (-11%) from 2019

Expenses

Down

$161,347

Down $30,959 (-16%) from 2019

Net Income

Up

$32,785

Up $7,528 (+30%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$400K$300K$200K$100K$0Assets 2014: $29,558Liabilities 2014: $1,237Net Assets 2014: $28,3212014Assets 2015: $68,394Liabilities 2015: $2,933Net Assets 2015: $65,4612015Assets 2016: $74,685Liabilities 2016: $4,110Net Assets 2016: $70,5752016Assets 2017: $53,786Liabilities 2017: $1,997Net Assets 2017: $51,7892017Assets 2018: $53,969Liabilities 2018: $2,125Net Assets 2018: $51,8442018Assets 2019: $77,103Liabilities 2019: $0Net Assets 2019: $77,1032019Assets 2020: $139,003Liabilities 2020: $29,115Net Assets 2020: $109,8882020Assets 2021: $256,809Liabilities 2021: $116Net Assets 2021: $256,6932021Assets 2022: $305,575Liabilities 2022: $3,956Net Assets 2022: $301,6192022Assets 2023: $258,515Liabilities 2023: $4,482Net Assets 2023: $254,0332023Assets 2024: $230,917Liabilities 2024: $4,983Net Assets 2024: $225,9342024

Highlighted filing

2020

Assets$139,003
Liabilities$29,115
Net Assets$109,888
Open 2020 Filing

Operations Trend

Revenue Growth53rd percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2014: $55,464Expenses 2014: $48,634Net Income 2014: $6,8302014Revenue 2015: $96,205Expenses 2015: $59,066Net Income 2015: $37,1392015Revenue 2016: $98,959Expenses 2016: $93,844Net Income 2016: $5,1152016Revenue 2017: $117,677Expenses 2017: $136,462Net Income 2017: -$18,7852017Revenue 2018: $176,667Expenses 2018: $176,612Net Income 2018: $552018Revenue 2019: $217,563Expenses 2019: $192,306Net Income 2019: $25,2572019Revenue 2020: $194,132Expenses 2020: $161,347Net Income 2020: $32,7852020Revenue 2021: $306,625Expenses 2021: $159,820Net Income 2021: $146,8052021Revenue 2022: $293,433Expenses 2022: $248,507Net Income 2022: $44,9262022Revenue 2023: $185,335Expenses 2023: $232,921Net Income 2023: -$47,5862023Revenue 2024: $241,642Expenses 2024: $269,741Net Income 2024: -$28,0992024

Highlighted filing

2020

Revenue$194,132
Expenses$161,347
Net Income$32,785
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 5, 2021
Return Version
2020v4.0
Gross Receipts
$206,630
Mission and Program Overview

Mission

To improve reading skills in low-income communities by providing one-to-one literacy tutoring, free books for home libraries, and an inspiring, high- energy learning environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$71,478$134,352▲ $62,874
Cash and Non-Interest-Bearing Accounts$5,325$4,351▼ $974
Total Assets$77,103$139,003▲ $61,900
Other Assets Total$300$300→ $0
Liabilities
Unsecured Notes Loans Payable-$26,717-
Other Liabilities-$2,398-
Total Liabilities$0$29,115▲ $29,115
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$77,103$109,888▲ $32,785
Total Net Assets Fund Balance$77,103$109,888▲ $32,785
Total Liabilities and Net Assets / Fund Balance$77,103$139,003▲ $61,900
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tracy BaileyCEOPT$54,226$54,226

Board Members and Trustees

NameTitle
Jamia RichmondChair
Gloria Robinson-cooperVice Chair
Carolyn EllisBoard Member
Cassandra JacksonBoard Member
Dr Nicholas SchlerethBoard Member
Ginny KintzBoard Member
Hala SadlekBoard Member
Amy StackSecretary
Jon GreenleeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$198,159
Program Service Revenue
$0
Investment Income
$207
Other Revenue
$-4,234
All Other Contributions
$107,288
Change in Net Assets
$32,785
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$127,407
Other Expenses$33,940
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,062--$66,062
Current Officers, Directors, Trustees, and Key Employees$34,226$20,000-$54,226
Occupancy-$8,712-$8,712
Office Expenses$1,355$7,202-$8,557
Payroll Taxes$5,589$1,530-$7,119
Insurance-$4,042-$4,042
Fees for Services Accounting-$3,000-$3,000
Advertising-$2,839-$2,839
All Other Expenses$1,014$43-$1,057
Conferences and Meetings-$708-$708
Other Expenses$389--$389
Total Functional Expenses$113,271$48,076$0$161,347
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$12,498
Fundraising Gross Income$8,264
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Books and Boogi$23,321---
Palmetto Giving$48,264$8,264-$8,264
Total Events$71,585$8,264$12,085$-3,821
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fica Payable$1,978
State Withholding$420
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
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, Page 6, Part VI, Line 11B

“The board of directors recives a copy of the form 990 to prior to being filed. The board votes and approves the 990 prior to tracy signing the efile authorization.”

Form 990, Page 6, Part VI, Line 19

“Requestes for governing documents need to be in writing directed to [email protected]”

Filing and Contact Details

Filer

Filer Name
Freedom Readers Inc
EIN
27-2517686
Phone
8433318562
Address
1012 16TH AVENUE NW, SURFSIDE BEACH, SC 29575

Signing Officer

Name
Tracy Bailey
Title
CEO
Phone
8433318562
Signed
2021-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tracy Bailey
Formed
2010
Legal Domicile
Sc
Voting Board Members
10
Independent Board Members
9
Employees
8
Volunteers
50

Preparer

Firm
Bartlett Buie CPA Pa
Address
PO BOX 7770, MYRTLE BEACH, SC 29572
Preparer
Bartlett Buie
Phone
8434494765
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt063321
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt040000
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt023321
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt012085
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0PALMETTO GIVING
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BOOKS AND BOOGI
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt09326
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt09326
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt048264
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt023321
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt071585
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt08264
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt08264
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-3821
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent2Amt02759
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt02759
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS RECIVES A COPY OF THE FORM 990 TO PRIOR TO BEING FILED. THE BOARD VOTES AND APPROVES THE 990 PRIOR TO TRACY SIGNING THE EFILE AUTHORIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REQUESTES FOR GOVERNING DOCUMENTS NEED TO BE IN WRITING DIRECTED TO [email protected]
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt077103
IRS990/TotalAssetsEOYAmt0139003
IRS990/TotalAssetsGrp/BOYAmt077103
IRS990/TotalAssetsGrp/EOYAmt0139003
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0198159
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt048076
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0113271
IRS990/TotalFunctionalExpensesGrp/TotalAmt0161347
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt029115
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt029115
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt077103
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0109888
IRS990/TotalProgramServiceExpensesAmt0113271
IRS990/TotalReportableCompFromOrgAmt054226
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0207
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0194132
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt077103
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0139003
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt026717
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0381 WINSLOW AVENUE
IRS990/USAddress/CityNm0MYRTLE BEACH
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029588
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.FREEDOMREADERS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TRACY BAILEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum08433318562
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREEDOM READERS INC
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0272517686
ReturnHeader/Filer/PhoneNum08433318562
ReturnHeader/Filer/USAddress/AddressLine1Txt01012 16TH AVENUE NW
ReturnHeader/Filer/USAddress/CityNm0SURFSIDE BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029575
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570700091
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BARTLETT BUIE CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 7770
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MYRTLE BEACH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029572
ReturnHeader/PreparerPersonGrp/PhoneNum08434494765
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BARTLETT BUIE
ReturnHeader/ReturnTs02021-11-11T07:15:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TRACY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BAILEY
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$139,003
Liabilities
$29,115
Net assets
$109,888
Revenue
$194,132
Expenses
$161,347
Net income
$32,785
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.31$0.05$2.26$2.42$2.70$0.28
2023Detailed filing. Detailed filing data is available for this year.$2.59$0.04$2.54$1.85$2.33$0.48
2022Detailed filing. Detailed filing data is available for this year.$3.06$0.04$3.02$2.93$2.49$0.45
2021Detailed filing. Detailed filing data is available for this year.$2.57$0.00$2.57$3.07$1.60$1.47
2020Detailed filing. Detailed filing data is available for this year.$1.39$0.29$1.10$1.94$1.61$0.33
2019Detailed filing. Detailed filing data is available for this year.$0.77$0.00$0.77$2.18$1.92$0.25
2018Detailed filing. Detailed filing data is available for this year.$0.54$0.02$0.52$1.77$1.77$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.54$0.02$0.52$1.18$1.36$0.19
2016Detailed filing. Detailed filing data is available for this year.$0.75$0.04$0.71$0.99$0.94$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.68$0.03$0.65$0.96$0.59$0.37
2014Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.28$0.55$0.49$0.07