Civic Intelligence

Madison Reading Project Inc.

990 • Fiscal year 2021 • EIN 47-2077478

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 20, 2022

1337 Greenway Cross 186Madison, WI 53713

(608) 347-7970

Siviq Scores

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

Liabilities / Assets

56th percentile

0.04x

Higher debt load relative to assets than 56% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

53rd percentile

0.04x

Higher debt load relative to revenue than 53% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

85th percentile

46%

Higher net margin than 85% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

57th percentile

$17,000

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

92nd percentile

119%

Faster asset growth than 92% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

87th percentile

111%

Faster revenue growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$653,764

Up $355,034 (+119%) from 2020

Net Assets

Up

$625,027

Up $344,232 (+123%) from 2020

Liabilities

Up

$28,737

Up $10,802 (+60%) from 2020

Revenue

Up

$746,724

Up $393,615 (+111%) from 2020

Expenses

Up

$402,492

Up $141,923 (+54%) from 2020

Net Income

Up

$344,232

Up $251,692 (+272%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2017: $43,112Liabilities 2017: $6,152Net Assets 2017: $36,9602017Assets 2018: $73,358Liabilities 2018: $7,871Net Assets 2018: $65,4872018Assets 2019: $203,518Liabilities 2019: $15,263Net Assets 2019: $188,2552019Assets 2020: $298,730Liabilities 2020: $17,935Net Assets 2020: $280,7952020Assets 2021: $653,764Liabilities 2021: $28,737Net Assets 2021: $625,0272021Assets 2022: $1,493,816Liabilities 2022: $182,870Net Assets 2022: $1,310,9462022Assets 2023: $1,517,262Liabilities 2023: $249,067Net Assets 2023: $1,268,1952023Assets 2024: $1,143,460Liabilities 2024: $197,575Net Assets 2024: $945,8852024

Highlighted filing

2021

Assets$653,764
Liabilities$28,737
Net Assets$625,027

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $83,872Expenses 2017: $67,996Net Income 2017: $15,8762017Revenue 2018: $148,398Expenses 2018: $119,871Net Income 2018: $28,5272018Revenue 2019: $358,122Expenses 2019: $235,355Net Income 2019: $122,7672019Revenue 2020: $353,109Expenses 2020: $260,569Net Income 2020: $92,5402020Revenue 2021: $746,724Expenses 2021: $402,492Net Income 2021: $344,2322021Revenue 2022: $1,392,855Expenses 2022: $706,936Net Income 2022: $685,9192022Revenue 2023: $1,015,106Expenses 2023: $1,057,857Net Income 2023: -$42,7512023Revenue 2024: $957,916Expenses 2024: $1,284,038Net Income 2024: -$326,1222024

Highlighted filing

2021

Revenue$746,724
Expenses$402,492
Net Income$344,232
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 20, 2022
Return Version
2021v4.2
Gross Receipts
$747,373
Mission and Program Overview

Mission

The organization organizes literacy programs directed at vulnerable children that supplements school learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$566,910-
Pledges and Grants Receivable$15,000$45,800▲ $30,800
Land, Buildings, and Equipment, Net$24,052$20,592▼ $3,460
Cash and Non-Interest-Bearing Accounts$256,368$14,399▼ $241,969
Prepaid Expenses and Deferred Charges$1,634$4,387▲ $2,753
Total Assets$298,730$653,764▲ $355,034
Other Assets Total$1,676$1,676→ $0
Liabilities
Accounts Payable and Accrued Expenses$12,444$26,115▲ $13,671
Mortgage Notes Payable Secured by Investment Property$5,491$2,622▼ $2,869
Total Liabilities$17,935$28,737▲ $10,802
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$237,595$487,402▲ $249,807
Net Assets With Donor Restrictions$43,200$137,625▲ $94,425
Total Net Assets Fund Balance$280,795$625,027▲ $344,232
Total Liabilities and Net Assets / Fund Balance$298,730$653,764▲ $355,034

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$20,592$19,335$3,850
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Rowan ChildsExecutive DirectorPT$17,000$17,000

Board Members and Trustees

NameTitle
Jaclyn VitelaBoard President
Sarah BrendenVice President
Andrew JourdreyBoard Member
Corinda Rainey MooreBoard Member
DAVID O'CONNERBoard Member
Jannyce RodriguezBoard Member
Jennifer ChatlenBoard Member
Jennifer PetersBoard Member
Steven StackBoard Member
Tammy RozekBoard Member
Jennifer GrafBoard Secretary
Chris LaurentTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$746,199
Program Service Revenue
$800
Investment Income
$144
Other Revenue
$-419
All Other Contributions
$719,315
Change in Net Assets
$344,232

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported AmountValuation Method
Books and Publications$91,442$2 USED BOOKS, $8 NEW
Total Noncash Contributions$91,442-

Audited Revenue Reconciliation

Revenue per Audited Statements
$747,373
Revenue Not Reported on Financial Statements
$-649
Revenue Not Reported on Form 990
$4,366
Other Revenue Adjustments
$-649
Total Revenue per Audited Statements
$751,739
Total Revenue per Form 990
$746,724
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$253,886
Salaries, Compensation, and Employee Benefits$148,606
Total Fundraising Expense$62,578
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$85,837$5,221$29,992$121,050
Occupancy$13,031$5,550$4,216$22,797
Fees for Services Accounting-$17,800-$17,800
Current Officers, Directors, Trustees, and Key Employees-$8,500$8,500$17,000
Fees for Services Other$4,144$123$10,401$14,668
Payroll Taxes$6,566$1,050$2,940$10,556
Depreciation Depletion$7,279$9$21$7,309
Office Expenses$4,597$661$1,753$7,011
Insurance$3,629$202$444$4,275
Advertising$182$523$1,451$2,156
Interest$800$87$917$1,804
Information Technology$802$114$716$1,632
Other Expenses$1,562$6$14$1,582
All Other Expenses$250$934$36$1,220
Travel$237$26$24$287
Total Functional Expenses$298,621$41,293$62,578$402,492

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$407,507
Expenses per Audited Statements$402,492
Total Expenses per Form 990$402,492
Expenses Not Reported on Form 990$5,015
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Professional Fundraising Fees$0
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
Yes
Backup withholding compliance
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
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 11B

Distributed at board meeting

Form 990, Part VI, Section B, Line 15A

Board members created compensation plan

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Madison Reading Project Inc
EIN
47-2077478
Phone
6083477970
Address
1337 GREENWAY CROSS 186, MADISON, WI 53713

Signing Officer

Name
Rowan Childs
Title
Executive Director
Phone
6083477970
Signed
2022-10-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rowan Childs
Formed
2014
Legal Domicile
Wi
Voting Board Members
13
Independent Board Members
12
Employees
10
Volunteers
204

Preparer

Firm
Johnson Block & Co Inc
Address
9701 BRADER WAY SUITE 202, MIDDLETON, WI 53562
Preparer
Tara Bast CPA
Phone
6082742002
Supplemental Narrative

Additional Explanations

Form 990. Part XII, Line 2C

No change from prior year.

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

MERCHANDISE EXPENSE

PART XII, LINE 2D - OTHER ADJUSTMENTS:

MERCHANDISE EXPENSE

Schedule D, Page 4, Part XI, Lines 2D and 4B

Merchandise expense was included on the revenue page on the 990.

Schedule D, Page 4, Part XII, Lines 2D and 4B

Merchandise expense was included on the revenue page of the 990.

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IRS990/OccupancyGrp/ProgramServicesAmt013031
IRS990/OccupancyGrp/TotalAmt022797
IRS990/OfficeExpensesGrp/FundraisingAmt01753
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0661
IRS990/OfficeExpensesGrp/ProgramServicesAmt04597
IRS990/OfficeExpensesGrp/TotalAmt07011
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01676
IRS990/OtherAssetsTotalGrp/EOYAmt01676
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0BOOKS
IRS990/OtherExpensesGrp/Desc1PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc2UNEMPLOYMENT INSURANCE
IRS990/OtherExpensesGrp/Desc3VEHICLE COSTS
IRS990/OtherExpensesGrp/FundraisingAmt0155
IRS990/OtherExpensesGrp/FundraisingAmt1998
IRS990/OtherExpensesGrp/FundraisingAmt214
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt031
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1456
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt26
IRS990/OtherExpensesGrp/ProgramServicesAmt0156359
IRS990/OtherExpensesGrp/ProgramServicesAmt112180
IRS990/OtherExpensesGrp/ProgramServicesAmt21166
IRS990/OtherExpensesGrp/ProgramServicesAmt31562
IRS990/OtherExpensesGrp/TotalAmt0156359
IRS990/OtherExpensesGrp/TotalAmt112366
IRS990/OtherExpensesGrp/TotalAmt22620
IRS990/OtherExpensesGrp/TotalAmt31582
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt029992
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt05221
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt085837
IRS990/OtherSalariesAndWagesGrp/TotalAmt0121050
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02940
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01050
IRS990/PayrollTaxesGrp/ProgramServicesAmt06566
IRS990/PayrollTaxesGrp/TotalAmt010556
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt015000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt045800
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01634
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04387
IRS990/PrincipalOfficerNm0ROWAN CHILDS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0800
IRS990/ProgSrvcAccomActy2Grp/Desc0THE ORGANIZATION OFFERS LITERACY PROGRAMMING WHICH CAN INCLUDE AUTHOR READINGS, STORY TIME WITH THE OUTREACH DIRECTOR, LITERACY CRAFTS AND THEMED EVENTS FOR GROUPS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0108042
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0800
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0350546
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0331
IRS990/PYOtherExpensesAmt0145983
IRS990/PYOtherRevenueAmt02232
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt092540
IRS990/PYSalariesCompEmpBnftPaidAmt0114586
IRS990/PYTotalExpensesAmt0260569
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0353109
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0344232
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0566910
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt0412032
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt0115000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt0124875
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0656907
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0746199
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0371064
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0212728
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0133222
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt088747
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01551960
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0144
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0331
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0251
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt019
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt010
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0755
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01030
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt058
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0285
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01373
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0144
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0331
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0251
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt019
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt010
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0755
IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00070
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.57680
IRS990ScheduleA/PublicSupportPY509Pct00.99930
IRS990ScheduleA/PublicSupportTotal509Amt0896426
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt0412032
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0115000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0124875
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt05000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0656907
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0747229
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0371122
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0213013
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0133222
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt088747
IRS990ScheduleA/Total509Grp/TotalAmt01553333
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0747373
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0371453
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0213264
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0133241
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt088757
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01554088
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/DonatedServicesAndUseFcltsAmt04366
IRS990ScheduleD/DonatedServicesUseFcltsAmt04366
IRS990ScheduleD/ExpensesNotReportedAmt05015
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0402492
IRS990ScheduleD/OtherExpensesIncludedAmt0649

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