Civic Intelligence

Allen County Education Partnership D/B/A Project Reads

990 • Fiscal year 2015 • EIN 35-1823402

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 28, 2015

709 Clay Street Suite 101Fort Wayne, IN 46802

(260) 423-6447

Siviq Scores

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

Liabilities / Assets

87th percentile

0.37x

Higher debt load relative to assets than 87% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

88th percentile

0.24x

Higher debt load relative to revenue than 88% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

58th percentile

7.1%

Higher net margin than 58% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

97th percentile

$77,330

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 22.9% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

84th percentile

50%

Faster asset growth than 84% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

84th percentile

42%

Faster revenue growth than 84% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Up

$214,242

Up $71,485 (+50%) from 2014

Net Assets

Up

$134,507

Up $17,160 (+15%) from 2014

Liabilities

Up

$79,735

Up $54,325 (+214%) from 2014

Revenue

Up

$338,230

Up $100,125 (+42%) from 2014

Expenses

Down

$314,201

Down $17,982 (-5.4%) from 2014

Net Income

Up

$24,029

Up $118,107 (+126%) from 2014

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $282,857Liabilities 2011: $36,076Net Assets 2011: $246,7812011Assets 2012: $443,714Liabilities 2012: $89,892Net Assets 2012: $353,8222012Assets 2013: $284,560Liabilities 2013: $73,284Net Assets 2013: $211,2762013Assets 2014: $142,757Liabilities 2014: $25,410Net Assets 2014: $117,3472014Assets 2015: $214,242Liabilities 2015: $79,735Net Assets 2015: $134,5072015Assets 2016: $93,465Liabilities 2016: $15,398Net Assets 2016: $78,0672016Assets 2017: $108,936Liabilities 2017: $9,184Net Assets 2017: $99,7522017Assets 2018: $127,365Liabilities 2018: $49,392Net Assets 2018: $77,9732018Assets 2019: $87,615Liabilities 2019: $7,008Net Assets 2019: $80,6072019Assets 2020: $112,452Liabilities 2020: $25,480Net Assets 2020: $86,9722020Assets 2021: $153,840Liabilities 2021: $7,461Net Assets 2021: $146,3792021

Highlighted filing

2015

Assets$214,242
Liabilities$79,735
Net Assets$134,507

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $566,5792011Expenses 2012: $494,5302012Expenses 2013: $396,1052013Revenue 2014: $238,105Expenses 2014: $332,183Net Income 2014: -$94,0782014Revenue 2015: $338,230Expenses 2015: $314,201Net Income 2015: $24,0292015Revenue 2016: $173,341Expenses 2016: $229,239Net Income 2016: -$55,8982016Revenue 2017: $193,189Expenses 2017: $172,631Net Income 2017: $20,5582017Revenue 2018: $168,824Expenses 2018: $191,639Net Income 2018: -$22,8152018Revenue 2019: $184,431Expenses 2019: $181,797Net Income 2019: $2,6342019Revenue 2020: $165,397Expenses 2020: $159,032Net Income 2020: $6,3652020Revenue 2021: $217,435Expenses 2021: $164,630Net Income 2021: $52,8052021

Highlighted filing

2015

Revenue$338,230
Expenses$314,201
Net Income$24,029
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 28, 2015
Return Version
2014v5.0
Gross Receipts
$341,865
Mission and Program Overview

Mission

Project reads helps students in first to third grade make progress to achieve grade level reading.

Project reads is an organization dedicated to helping k-3 students achieve grade-level reading goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$85,500$150,000▲ $64,500
Investments Other Securities$22,473$20,932▼ $1,541
Savings and Temporary Cash Investments$7,323$20,449▲ $13,126
Inventories for Sale or Use$16,960$15,082▼ $1,878
Cash and Non-Interest-Bearing Accounts$4,258$4,026▼ $232
Land, Buildings, and Equipment, Net$6,023$2,944▼ $3,079
Accounts Receivable-$575-
Prepaid Expenses and Deferred Charges$220$234▲ $14
Total Assets$142,757$214,242▲ $71,485
Liabilities
Other Liabilities-$49,026-
Accounts Payable and Accrued Expenses$25,410$30,709▲ $5,299
Total Liabilities$25,410$79,735▲ $54,325
Net Assets / Fund Balance
Temporarily Rstr Net Assets$144,653$198,851▲ $54,198
Permanently Rstr Net Assets$15,070$15,070→ $0
Unrestricted Net Assets$-42,376$-79,414▼ $37,038
Total Net Assets Fund Balance$117,347$134,507▲ $17,160
Total Liabilities and Net Assets / Fund Balance$142,757$214,242▲ $71,485

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,944$39,347$42,291
Other Securities$20,932--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$34,945-▼ $442$1,432$32,904
2013$32,651-▲ $3,342$893$34,945
2012$31,178-▲ $2,363$757$32,651
2011$32,263-▼ $235$706$31,178
2010$20,671$8,704▲ $4,236$1,200$32,263
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian WhiteExecutive DiFT$58,137$19,193$77,330

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$335,312
Program Service Revenue
$0
Investment Income
$654
Other Revenue
$2,264
All Other Contributions
$325,317
Change in Net Assets
$24,029

Audited Revenue Reconciliation

Revenue per Audited Statements
$338,057
Revenue Not Reported on Financial Statements
$173
Other Revenue Adjustments
$173
Total Revenue per Audited Statements
$338,057
Total Revenue per Form 990
$338,230
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$246,811
Other Expenses$67,390
Total Fundraising Expense$61,780
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$97,050$21,474$20,969$139,493
Current Officers, Directors, Trustees, and Key Employees$10,095$45,978$26,736$82,809
Payroll Taxes$9,129$4,526$3,638$17,293
Office Expenses$5,347$8,683$1,213$15,243
Occupancy$11,990$3,006-$14,996
Fees for Services Accounting-$7,660-$7,660
Other Employee Benefits$5,259$1,957-$7,216
Insurance$2,371$3,915-$6,286
Travel$3,414-$183$3,597
Depreciation Depletion$1,540$1,539-$3,079
Fees for Services Other$453$584$1,972$3,009
Interest-$1,495-$1,495
Advertising$193$85$542$820
Other Expenses$6$8$3$14
Total Functional Expenses$151,503$100,918$61,780$314,201

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$315,288
Expenses per Audited Statements$314,201
Total Expenses per Form 990$314,201
Expenses Not Reported on Form 990$1,087
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,899
Fundraising Direct Expenses$3,635
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Breakfast$11,980$1,985-$1,985
Total Events$11,980$1,985$3,635$-1,650
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$49,026
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Conflict-of-interest policy
Yes
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

Depending on the timing of the meetings and the receipt of form 990, it is either reviewed by the finance committee and/or the executive committee.

Form 990, Page 6, Part VI, Line 12C

A copy of the conflict of interest policy is given to all board members, employees and volunteers or other key stakeholders upon commencement of such person's relationship with acep or at the official adoption of such policy. Each board member, officer, employee, and volunteer shall sign and date a disclosure form at the beginning of his/her term of service or employment and each year thereafter. Failure of anyone to sign does not nullify the policy. Following full disclosure of a possible conflict of interest, the board of directors shall determine whether a conflict of interest exists and, if so the board shall vote to authorize or reject the transaction or take other action deemed necessary to address the conflict and protect the acep's best interest. Both votes shall be by a majority vote without counting the vote of any interested director, even if the disinterested directors are less than a quorum provided that at least one consenting director is disinterested.

Form 990, Page 6, Part VI, Line 15A

The executive director's salary is reviewed and determined by the hr committee and/or executive committee.

Form 990, Page 6, Part VI, Line 18

The organization's irs form 990 for the past three years is available at www.guidestar.org.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Allen County Education Partnership
EIN
35-1823402
Phone
2604236447
Address
709 CLAY STREET SUITE 101, FORT WAYNE, IN 46802

Signing Officer

Name
Brian White
Title
Executive Director
Phone
2604236447
Signed
2015-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian White
Formed
1991
Legal Domicile
In
Voting Board Members
12
Independent Board Members
12
Employees
6
Volunteers
157

Preparer

Firm
Dulin Ward & Dewald Inc
Address
9921 DUPONT CIRCLE DR W 300, FORT WAYNE, IN 46825-1610
Preparer
Susan a Berghoff CPA
Phone
2604232414
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Playing educational games to keep minds engaged while having fun. Reading and comprehension assessments were conducted at the beginning and end of the program year to track improvement and growth. Student participants received incentive prizes such as new books each month and graduation gifts, including a small trophy at the end of the year, if applicable. For the 2014-2015 program year we had 145 volunteers who stayed active throughout the program year with a 50% volunteer retention rate. There were 152 students that remained active during the program year. 95% of project reads students showed improvement in their reading/skill level with 80% of the students improving four or more reading levels. Project reads graduated 67 (or 44%) of its students at grade level or above.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Promote the mission of the project reads.

Schedule D, Page 3, Part X

The organization is exempt from income tax under section 501(c)(3) of the internal revenue code, and qualifies for the 50% charitable contributions deduction limitation. The organization has been classified as an organization that is not a private foundation under section 509(a) of the internal revenue code. The organization's income tax filings are subject to audit by various taxing authorities. The organization is no longer subject to income tax examinations by taxing authorities for tax years ending on or before june 30, 2011.

Schedule D, Page 4, Part XI, Line 4B

GAIN ON INVESTMENTS 173

Schedule D, Page 4, Part XII, Line 2D

Loss on investments 1,087

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROMOTE THE MISSION OF THE PROJECT READS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND QUALIFIES FOR THE 50% CHARITABLE CONTRIBUTIONS DEDUCTION LIMITATION. THE ORGANIZATION HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR TAX YEARS ENDING ON OR BEFORE JUNE 30, 2011.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2GAIN ON INVESTMENTS 173
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3LOSS ON INVESTMENTS 1,087
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 2D
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