Civic Intelligence

Allen County Education Partnership D/B/A Project Reads

990 • Fiscal year 2020 • EIN 35-1823402

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 14, 2020

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

0.23x

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

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

Liabilities / Revenue

81st percentile

0.15x

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

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

Net Margin

48th percentile

3.8%

Higher net margin than 48% of similar nonprofits.

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

Top Officer Pay

86th percentile

$28,298

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 17.1% of source-year revenue.

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

Asset Growth

72nd percentile

28%

Faster asset growth than 72% of similar nonprofits.

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

Revenue Growth

53rd percentile

-10%

Faster revenue growth than 53% of similar nonprofits.

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

Assets

Up

$112,452

Up $24,837 (+28%) from 2019

Net Assets

Up

$86,972

Up $6,365 (+7.9%) from 2019

Liabilities

Up

$25,480

Up $18,472 (+264%) from 2019

Revenue

Down

$165,397

Down $19,034 (-10%) from 2019

Expenses

Down

$159,032

Down $22,765 (-13%) from 2019

Net Income

Up

$6,365

Up $3,731 (+142%) from 2019

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

2020

Assets$112,452
Liabilities$25,480
Net Assets$86,972

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

2020

Revenue$165,397
Expenses$159,032
Net Income$6,365
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 14, 2020
Return Version
2019v5.0
Gross Receipts
$168,659
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$997$55,738▲ $54,741
Investments Other Securities$20,306$18,905▼ $1,401
Inventories for Sale or Use$11,462$15,247▲ $3,785
Land, Buildings, and Equipment, Net$15,035$11,279▼ $3,756
Savings and Temporary Cash Investments$38,819$9,811▼ $29,008
Prepaid Expenses and Deferred Charges$996$1,002▲ $6
Accounts Receivable-$470-
Total Assets$87,615$112,452▲ $24,837
Liabilities
Accounts Payable and Accrued Expenses$7,008$25,480▲ $18,472
Total Liabilities$7,008$25,480▲ $18,472
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,801$63,214▲ $2,413
Net Assets With Donor Restrictions$19,806$23,758▲ $3,952
Total Net Assets Fund Balance$80,607$86,972▲ $6,365
Total Liabilities and Net Assets / Fund Balance$87,615$112,452▲ $24,837

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,279$49,791$61,070
Other Securities$18,905--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$32,777-▼ $377$905$31,376
2018$32,684-▲ $652$921$32,278
2017$31,651-▲ $2,093$924$32,684
2016$30,852-▲ $1,875$925$31,651
2015$32,904-▼ $935$952$30,852
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Deshawn WertExecutive DiPT$28,298$28,298

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$163,663
Program Service Revenue
$0
Investment Income
$-374
Other Revenue
$2,108
All Other Contributions
$147,779
Change in Net Assets
$6,365

Audited Revenue Reconciliation

Revenue per Audited Statements
$165,278
Revenue Not Reported on Financial Statements
$119
Revenue Not Reported on Form 990
$990
Total Revenue per Audited Statements
$166,268
Total Revenue per Form 990
$165,397
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$101,807
Other Expenses$57,225
Total Fundraising Expense$19,444
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$52,144$12,269$1,067$65,480
Current Officers, Directors, Trustees, and Key Employees$13,300$5,377$9,621$28,298
Occupancy$13,412$3,551-$16,963
Fees for Services Accounting-$8,300-$8,300
Fees for Services Other$671$796$6,557$8,024
Payroll Taxes$4,016$2,542$764$7,322
Insurance$5,161$2,034-$7,195
Office Expenses$1,691$1,863$1,435$4,989
Depreciation Depletion$1,878$1,878-$3,756
Travel$969--$969
Other Employee Benefits$547$160-$707
Conferences and Meetings$616--$616
Interest-$533-$533
Other Expenses$148$221-$148
Fees for Service Investment Mgmnt Fees-$119-$119
Total Functional Expenses$99,945$39,643$19,444$159,032

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$159,903
Total Expenses per Form 990$159,032
Expenses per Audited Statements$158,913
Expenses Not Reported on Form 990$990
Expenses Not Reported on Financial Statements$119
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,380
Fundraising Direct Expenses$2,272
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Silent Auction$20,264$4,380-$4,380
Total Events$20,264$4,380$2,272$2,108
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
Annual disclosure for covered persons
Yes
Audit committee
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
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
Deshawn Wert
Title
Executive Director
Phone
2604236447
Signed
2020-09-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deshawn Wert
Formed
1991
Legal Domicile
In
Voting Board Members
12
Independent Board Members
12
Employees
7
Volunteers
97

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

According to local studies, functional illiteracy in the adult population of allen county results in the community having an insufficient pool of skilled workers. Project reads hopes to help program participants attain a quality of life in which they are self-sufficient in the economic world and active in their communities. Thus, by promoting literacy, project reads' programs help participants grow as individuals, thereby fostering a stronger, more educated, and more productive community. Due to the coronavirus and school closures, project reads does not have a full school year of statistics to share at this time although we are working with our district partners to gather them. Once project reads' staff realized school sites were closed, we quickly switched gears and created a reading challenge for project reads participants which ran march-may and also a june challenge in 2020. Again, we are compiling data on the reading challenge successes. Long term successes over the last five years indicate that 595 out of 763 or 78% of the students enrolled and active in project reads program have increased their reading skill level by four or more reading levels. Additionally, over the last five years 732 of the 763 or 95% of the students demonstrated reading improvement and growth in reading levels from the beginning of the year. The following highlights our recent accomplishments for the 2019-20 year: 116 students and 97 volunteers participated until the sites closed mid- march. 28% of students participated in both reading challenges offered march-may and june. It is important to note that a core feature of project reads is the economic impact made by our volunteer mentors. Each mentor meets with each program participant for one hour per week over the course of the school year, totaling approximately 30 tutoring sessions. A for-profit tutor with similar literacy training would cost a family about 25 per hour or 750 for the school year. The 150+ project reads trained mentors provide over 100,000 in no-cost literacy training to allen county children. That's 100,000 that stays in the pockets of area families which can then be used for school supplies, food, shelter and other necessities of family life. We are proud of this contribution to our local economy and immensely grateful to our generous volunteers.

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

Loss on beneficial interest 990

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

Loss on beneficial interest 990

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IRS990/Desc0ACCORDING TO LOCAL STUDIES, FUNCTIONAL ILLITERACY IN THE ADULT POPULATION OF ALLEN COUNTY RESULTS IN THE COMMUNITY HAVING AN INSUFFICIENT POOL OF SKILLED WORKERS. PROJECT READS HOPES TO HELP PROGRAM PARTICIPANTS ATTAIN A QUALITY OF LIFE IN WHICH THEY ARE SELF-SUFFICIENT IN THE ECONOMIC WORLD AND ACTIVE IN THEIR COMMUNITIES. THUS, BY PROMOTING LITERACY, PROJECT READS' PROGRAMS HELP PARTICIPANTS GROW AS INDIVIDUALS, THEREBY FOSTERING A STRONGER, MORE EDUCATED, AND MORE PRODUCTIVE COMMUNITY. DUE TO THE CORONAVIRUS AND SCHOOL CLOSURES, PROJECT READS DOES NOT HAVE A FULL SCHOOL YEAR OF STATISTICS TO SHARE AT THIS TIME ALTHOUGH WE ARE WORKING WITH OUR DISTRICT PARTNERS TO GATHER THEM. ONCE PROJECT READS' STAFF REALIZED SCHOOL SITES WERE CLOSED, WE QUICKLY SWITCHED GEARS AND CREATED A READING CHALLENGE FOR PROJECT READS PARTICIPANTS WHICH RAN MARCH-MAY AND ALSO A JUNE CHALLENGE IN 2020. AGAIN, WE ARE COMPILING DATA ON THE READING CHALLENGE SUCCESSES. LONG TERM SUCCESSES OVER THE LAST FIVE YEARS INDICATE THAT 595 OUT OF 763 OR 78% OF THE STUDENTS ENROLLED AND ACTIVE IN PROJECT READS PROGRAM HAVE INCREASED THEIR READING SKILL LEVEL BY FOUR OR MORE READING LEVELS. ADDITIONALLY, OVER THE LAST FIVE YEARS 732 OF THE 763 OR 95% OF THE STUDENTS DEMONSTRATED READING IMPROVEMENT AND GROWTH IN READING LEVELS FROM THE BEGINNING OF THE YEAR. THE FOLLOWING HIGHLIGHTS OUR RECENT ACCOMPLISHMENTS FOR THE 2019-20 YEAR: 116 STUDENTS AND 97 VOLUNTEERS PARTICIPATED UNTIL THE SITES CLOSED MID- MARCH. 28% OF STUDENTS PARTICIPATED IN BOTH READING CHALLENGES OFFERED MARCH-MAY AND JUNE. IT IS IMPORTANT TO NOTE THAT A CORE FEATURE OF PROJECT READS IS THE ECONOMIC IMPACT MADE BY OUR VOLUNTEER MENTORS. EACH MENTOR MEETS WITH EACH PROGRAM PARTICIPANT FOR ONE HOUR PER WEEK OVER THE COURSE OF THE SCHOOL YEAR, TOTALING APPROXIMATELY 30 TUTORING SESSIONS. A FOR-PROFIT TUTOR WITH SIMILAR LITERACY TRAINING WOULD COST A FAMILY ABOUT 25 PER HOUR OR 750 FOR THE SCHOOL YEAR. THE 150+ PROJECT READS TRAINED MENTORS PROVIDE OVER 100,000 IN NO-COST LITERACY TRAINING TO ALLEN COUNTY CHILDREN. THAT'S 100,000 THAT STAYS IN THE POCKETS OF AREA FAMILIES WHICH CAN THEN BE USED FOR SCHOOL SUPPLIES, FOOD, SHELTER AND OTHER NECESSITIES OF FAMILY LIFE. WE ARE PROUD OF THIS CONTRIBUTION TO OUR LOCAL ECONOMY AND IMMENSELY GRATEFUL TO OUR GENEROUS VOLUNTEERS.
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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