Civic Intelligence

Allen County Education Partnership D/B/A Project Reads

990 • Fiscal year 2016 • EIN 35-1823402

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 14, 2016

1005 W Rudisill Blvd Suite 308Fort Wayne, IN 46807

(260) 423-6447

Siviq Scores

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

Liabilities / Assets

81st percentile

0.16x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

81st percentile

0.09x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

11th percentile

-32%

Higher net margin than 11% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

95th percentile

$63,523

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 36.6% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

7th percentile

-56%

Faster asset growth than 7% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

10th percentile

-49%

Faster revenue growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$93,465

Down $120,777 (-56%) from 2015

Net Assets

Down

$78,067

Down $56,440 (-42%) from 2015

Liabilities

Down

$15,398

Down $64,337 (-81%) from 2015

Revenue

Down

$173,341

Down $164,889 (-49%) from 2015

Expenses

Down

$229,239

Down $84,962 (-27%) from 2015

Net Income

Down

-$55,898

Down $79,927 (-333%) from 2015

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

2016

Assets$93,465
Liabilities$15,398
Net Assets$78,067

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

2016

Revenue$173,341
Expenses$229,239
Net Income-$55,898
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 14, 2016
Return Version
2015v2.1
Gross Receipts
$174,327
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$150,000--
Savings and Temporary Cash Investments$20,449$56,405▲ $35,956
Investments Other Securities$20,932$18,880▼ $2,052
Inventories for Sale or Use$15,082$14,308▼ $774
Land, Buildings, and Equipment, Net$2,944$3,487▲ $543
Accounts Receivable$575--
Prepaid Expenses and Deferred Charges$234$222▼ $12
Cash and Non-Interest-Bearing Accounts$4,026$163▼ $3,863
Total Assets$214,242$93,465▼ $120,777
Liabilities
Accounts Payable and Accrued Expenses$30,709$12,983▼ $17,726
Other Liabilities$49,026$2,415▼ $46,611
Total Liabilities$79,735$15,398▼ $64,337
Net Assets / Fund Balance
Unrestricted Net Assets$-79,414$59,687▲ $139,101
Permanently Rstr Net Assets$15,070$15,070→ $0
Temporarily Rstr Net Assets$198,851$3,310▼ $195,541
Total Net Assets Fund Balance$134,507$78,067▼ $56,440
Total Liabilities and Net Assets / Fund Balance$214,242$93,465▼ $120,777

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,487$41,674$45,161
Other Securities$18,880--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$32,904-▼ $935$952$30,852
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian WhiteExecutive DiFT$52,923$10,600$63,523

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$173,895
Program Service Revenue
$0
Investment Income
$-554
Other Revenue
$0
All Other Contributions
$173,895
Change in Net Assets
$-55,898

Audited Revenue Reconciliation

Revenue per Audited Statements
$173,341
Revenue Not Reported on Form 990
$986
Total Revenue per Audited Statements
$174,327
Total Revenue per Form 990
$173,341
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$175,654
Other Expenses$53,585
Total Fundraising Expense$19,684
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$80,695$16,862$1,982$99,539
Current Officers, Directors, Trustees, and Key Employees$20,001$25,559$11,966$57,526
Occupancy$11,338$3,024-$14,362
Payroll Taxes$9,230$2,549$1,372$13,151
Office Expenses$4,668$4,245$474$9,387
Fees for Services Accounting-$7,777-$7,777
Insurance$4,901$1,652-$6,553
Other Employee Benefits$884$4,554-$5,438
Travel$3,346--$3,346
Fees for Services Other$434$599$1,712$2,745
Depreciation Depletion$1,187$1,139-$2,326
Advertising$80-$1,344$1,424
Interest$30$839-$869
Other Expenses$112$520$92$724
Total Functional Expenses$140,056$69,499$19,684$229,239

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$230,767
Expenses per Audited Statements$229,239
Total Expenses per Form 990$229,239
Expenses Not Reported on Form 990$1,528
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Payable$2,415
Line of Credit-
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
1005 W RUDISILL BLVD SUITE 308, FORT WAYNE, IN 46807

Signing Officer

Name
Shawn Sollenberger
Title
Treasurer
Phone
2604236447
Signed
2016-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shawn Sollenberger
Formed
1991
Legal Domicile
In
Voting Board Members
12
Independent Board Members
12
Employees
6
Volunteers
174

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 are 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 ribbon medallion at the end of the year, if applicable. For the 2015-2016 program year we had 156 volunteers who stayed active throughout the program year with a 37% return retention rate. There were 174 students that remained active during the program year. 99% of project reads students showed improvement in their reading/skill level with 81% of the students improving four or more reading levels. 49% of third grade students reached benchmark reading levels. Project reads graduated 63 (or 36%) of its students at grade level or above.

Form 990, Part XI, Line 9

Unrealized loss 986 loss on investments -1,528 total -542

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Promote the mission of the project reads.

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

UNREALIZED LOSS 986

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

Loss on investments 1,528

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IRS990/SavingsAndTempCashInvstGrp/BOYAmt020449
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LINE OF CREDIT
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0BENEFICIAL INTEREST
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IRS990ScheduleD/RevenueNotReportedAmt0986
IRS990ScheduleD/RevenueSubtotalAmt0173341
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROMOTE THE MISSION OF THE PROJECT READS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1UNREALIZED LOSS 986
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LOSS ON INVESTMENTS 1,528
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt03487
IRS990ScheduleD/TotalBookValueSecuritiesAmt018880

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