Civic Intelligence

Reading and Math Inc

990 • Fiscal year 2022 • EIN 47-2306902

Aug 01, 2021 to Jul 31, 2022 • Filed on Jan 26, 2023

1200 S Washington Ave 310Minneapolis, MN 55415

(612) 206-3030

Siviq Scores

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

Liabilities / Assets

59th percentile

0.34x

Higher debt load relative to assets than 59% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

9th percentile

0.03x

Higher debt load relative to revenue than 9% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

37th percentile

1.9%

Higher net margin than 37% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

85th percentile

24%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

79th percentile

26%

Faster revenue growth than 79% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Up

$4,709,118

Up $898,360 (+24%) from 2021

Net Assets

Up

$3,112,443

Up $971,023 (+45%) from 2021

Liabilities

Down

$1,596,675

Down $72,663 (-4.4%) from 2021

Revenue

Up

$50,180,193

Up $10,509,287 (+26%) from 2021

Expenses

Up

$49,209,170

Up $10,323,449 (+27%) from 2021

Net Income

Up

$971,023

Up $185,838 (+24%) from 2021

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2015: $143,909Liabilities 2015: $62,878Net Assets 2015: $81,0312015Assets 2016: $253,127Liabilities 2016: $78,376Net Assets 2016: $174,7512016Assets 2017: $2,746,933Liabilities 2017: $2,245,478Net Assets 2017: $501,4552017Assets 2018: $2,372,332Liabilities 2018: $1,675,751Net Assets 2018: $696,5812018Assets 2019: $3,191,030Liabilities 2019: $1,762,472Net Assets 2019: $1,428,5582019Assets 2020: $2,678,491Liabilities 2020: $1,322,256Net Assets 2020: $1,356,2352020Assets 2021: $3,810,758Liabilities 2021: $1,669,338Net Assets 2021: $2,141,4202021Assets 2022: $4,709,118Liabilities 2022: $1,596,675Net Assets 2022: $3,112,4432022Assets 2023: $8,024,234Liabilities 2023: $4,408,321Net Assets 2023: $3,615,9132023Assets 2024: $9,110,910Liabilities 2024: $5,374,270Net Assets 2024: $3,736,6402024Assets 2025: $7,161,155Liabilities 2025: $3,846,836Net Assets 2025: $3,314,3192025

Highlighted filing

2022

Assets$4,709,118
Liabilities$1,596,675
Net Assets$3,112,443

Operations Trend

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

$100M$50M$0-$50MRevenue 2015: $159,331Expenses 2015: $78,300Net Income 2015: $81,0312015Revenue 2016: $1,656,577Expenses 2016: $1,562,857Net Income 2016: $93,7202016Revenue 2017: $27,257,396Expenses 2017: $27,035,015Net Income 2017: $222,3812017Revenue 2018: $30,244,505Expenses 2018: $30,049,379Net Income 2018: $195,1262018Revenue 2019: $29,726,730Expenses 2019: $28,994,753Net Income 2019: $731,9772019Revenue 2020: $29,580,023Expenses 2020: $29,652,346Net Income 2020: -$72,3232020Revenue 2021: $39,670,906Expenses 2021: $38,885,721Net Income 2021: $785,1852021Revenue 2022: $50,180,193Expenses 2022: $49,209,170Net Income 2022: $971,0232022Revenue 2023: $65,962,045Expenses 2023: $65,458,575Net Income 2023: $503,4702023Revenue 2024: $94,657,595Expenses 2024: $94,536,868Net Income 2024: $120,7272024Revenue 2025: $90,167,661Expenses 2025: $90,589,982Net Income 2025: -$422,3212025

Highlighted filing

2022

Revenue$50,180,193
Expenses$49,209,170
Net Income$971,023
Jump To
Filing Snapshot
Filing Period
Aug 1, 2021 to Jul 31, 2022
Signed
Jan 26, 2023
Return Version
2021v4.2
Gross Receipts
$50,180,193
Mission and Program Overview

Mission

To transform lives while working to engage people in national service, we focus on replicating and expanding evidence-based programs to address critical gaps in educational achievement, economic opportunity and other emergent social issues.

To transform lives while working to engage people in national service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$2,984,551$3,135,000▲ $150,449
Savings and Temporary Cash Investments$54,235$1,005,447▲ $951,212
Accounts Receivable$11,239$218,500▲ $207,261
Land, Buildings, and Equipment, Net$103,745$142,016▲ $38,271
Cash and Non-Interest-Bearing Accounts$222,828$104,633▼ $118,195
Prepaid Expenses and Deferred Charges$412,027$80,539▼ $331,488
Total Assets$3,810,758$4,709,118▲ $898,360
Other Assets Total$22,133$22,983▲ $850
Liabilities
Accounts Payable and Accrued Expenses$1,669,338$1,591,675▼ $77,663
Deferred Revenue-$5,000-
Total Liabilities$1,669,338$1,596,675▼ $72,663
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,796,693$2,367,647▲ $570,954
Net Assets Without Donor Restrictions$344,727$744,796▲ $400,069
Total Net Assets Fund Balance$2,141,420$3,112,443▲ $971,023
Total Liabilities and Net Assets / Fund Balance$3,810,758$4,709,118▲ $898,360

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$122,080$43,188$165,268
Leasehold Improvements$19,936$11,075$31,011
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
SADIE O'CONNORManaging DirectorFT$119,148$12,017$131,165
Valerie McculloughCOOFT$110,631$10,038$120,669
Len RoeringControllerFT$87,537$27,291$114,828

Board Members and Trustees

NameTitle
Bob RumpzaBoard Chair
David MckoskeyDirector
Heather GibbsDirector
Kate KellyDirector
Mary Beth BrodyDirector
Mary KurthDirector
Monte AmundsonDirector
Kim PlahnTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Christiansen CreativeRebranding And Marketing900 FOURTH STREET, Hudson, WI 54016$135,378
Revenue and Support

Revenue Composition

Contributions and Grants
$48,677,532
Program Service Revenue
$1,490,729
Investment Income
$1,212
Other Revenue
$10,720
All Other Contributions
$1,283,293
Change in Net Assets
$971,023

Audited Revenue Reconciliation

Revenue per Audited Statements
$50,180,193
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$7,314,313
Total Revenue per Audited Statements
$57,494,506
Total Revenue per Form 990
$50,180,193
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$34,862,268
Salaries, Compensation, and Employee Benefits$14,346,902
Total Fundraising Expense$1,267
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,483,951$1,212,026-$11,695,977
Fees for Services Other$1,678,763$249,204-$1,927,967
Information Technology$890,564$272,364-$1,162,928
Other Employee Benefits$987,264$117,584-$1,104,848
Payroll Taxes$964,649$125,232-$1,089,881
Advertising$889,143--$889,143
Occupancy$608,933$120,873-$729,806
Other Expenses$0$620,031$0$620,031
Office Expenses$541,826$54,576$7$596,409
All Other Expenses$469,928$59,395-$529,323
Current Officers, Directors, Trustees, and Key Employees-$251,373$1,260$252,633
Travel$235,264$9,017-$244,281
Pension Plan Contributions$176,186$27,377-$203,563
Fees for Services Legal$23,700$142,919-$166,619
Insurance$6,928$92,909-$99,837
Fees for Services Accounting-$37,050-$37,050
Fees for Services Lobbying-$36,000-$36,000
Depreciation Depletion-$32,291-$32,291
Total Functional Expenses$45,744,653$3,463,250$1,267$49,209,170

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$56,523,483
Expenses per Audited Statements$49,209,170
Total Expenses per Form 990$49,209,170
Expenses Not Reported on Form 990$7,314,313
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
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
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
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
Yes
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, Part VI, Section B, Line 11B

A copy of the draft irs form 990 with all schedules is given to the board of directors for review and approval prior to signing.

Form 990, Part VI, Section B, Line 12C

Each board member and key employee will review for any conflict of interest on an annual basis at the beginning of each fiscal year and sign a disclosure form.

Form 990, Part VI, Section B, Line 15

The salaries of the managing director and other officers are determined by a merit based compensation plan which establishes market rate salary ranges comparable to other nonprofit organizations for each position.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Reading and Math Inc
EIN
47-2306902
Phone
6122063030
Address
1200 S WASHINGTON AVE 310, MINNEAPOLIS, MN 55415
Doing Business As
Ampact

Signing Officer

Name
SADIE O'CONNOR
Title
Managing Director
Phone
6122063030
Signed
2023-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
SADIE O'CONNOR
Formed
2014
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
3,219
Volunteers
2,649

Preparer

Firm
Bergankdv Ltd
Address
220 PARK AVE S, ST CLOUD, MN 56301
Preparer
Marie Primus CPA
Phone
3202517010
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

During the 2021-22 program year, a number of new programs and initiatives were launched to address community needs. 1. The home energy initiative of climate impact corps launched to support weatherization for income-qualified households in minnesota. In its first year, the initiative's three members provided energy services to more than 1,200 households. The total non-energy impacts of weatherization services completed are estimated to be $145,750 over the first year and $1,295,850 over the next decade. 2. Heading home corps and the refugee response initiative both launched in the fall of 2020 and grew out of the work of the emergency response initiatives previously administered in minnesota. 92 heading home corps members served as housing resource navigators at local nonprofits and public agencies working to address housing instability. An additional 30 members served with the refugee resettlement initiative where they supported afghan evacuees resettling in minnesota. Services included housing placement, community orientation, case management and youth enrichment. 3. Illinois recovery corps - building on success in minnesota, recovery corps expanded to illinois where 17 members served as recovery navigators and recovery project coordinators at sites across illinois. Members brought urgently needed capacity to public and nonprofit agencies focused on responding to the increase in substance use and substance use disorders. 4. Reading corps and math corps, expanded to mississippi to provide high-dosage tutoring in jackson area schools. 33 tutors delivered evidence-based interventions to help students improve their reading or math proficiency. In total, 568 students were served and 16,439 tutoring sessions were delivered. On average students received more than 60 minutes of tutoring weekly. 5. Summer tutoring to combat covid learning disruptions - in minnesota, reading corps and math corps mobilized 150 tutors to provide online tutoring for students who were assessed to be reading or doing math below grade level. Tutors met with students monday-friday for 30 minutes each day. In total, 1,152 students received tutoring.

FORM 990, PART XII, LINE 2C:

No change in process from prior year.

Part I, Summary, Line 5, From Part V, Line 2A

The number of w2s filed by reading and math, inc each year includes the members who receive a living stipend. Other than that stipend, they are not paid as employees.

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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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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF READING & MATH, INC. IS TO TRANSFORM LIVES. WHILE WORKING TO ENGAGE PEOPLE IN NATIONAL SERVICE, WE FOCUS ON REPLICATING AND EXPANDING EVIDENCE-BASED PROGRAMS TO ADDRESS CRITICAL GAPS IN EDUCATIONAL ACHIEVEMENT, ECONOMIC OPPORTUNITY AND OTHER EMERGING SOCIAL ISSUES.
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IRS990/OtherExpensesGrp/FundraisingAmt20
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23029
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IRS990/OtherExpensesGrp/ProgramServicesAmt30
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IRS990/OtherExpensesGrp/TotalAmt13599312
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IRS990/PrincipalOfficerNm0SADIE O'CONNOR
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IRS990/ProgramServiceRevenueGrp/Desc0LICENSE FEES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1649348
IRS990/ProgSrvcAccomActy2Grp/Desc0HEALTHY FUTURES PROGRAMS - FOCUS ON STRENGTHENING COMMUNITIES AND IMPROVING OUTCOMES. WHETHER WORKING TO HELP PEOPLE ACCESS LIVING WAGE JOBS, MAKING RECOVERY FROM SUBSTANCE USE DISORDERS POSSIBLE, ASSISTING THOSE EXPERIENCING HOUSING INSECURITY OR PROVIDING SUPPORTIVE SERVICES FOR AFGHAN EVACUEES BEGINNING NEW LIVES IN MINNESOTA, AMERICORPS MEMBERS SERVING WITH HEALTHY FUTURES MAKE AN INCREDIBLE IMPACT. DURING THE 2021-22 PROGRAM YEAR, OFFERINGS INCLUDED OPPORTUNITY CORPS, RECOVERY CORPS, HEADING HOME CORPS AND THE REFUGEE RESPONSE INITIATIVE. TOGETHER, MEMBERS SUPPORTED 3,234 INDIVIDUALS LOCATED IN MINNESOTA AND ILLINOIS.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt045000
IRS990/ProgSrvcAccomActy3Grp/Desc0ENVIRONMENTAL PROGRAMS CLIMATE IMPACT CORPS HELPS COMMUNITIES PREPARE FOR AND MITIGATE CLIMATE CHANGE IN MINNESOTA. DURING THE 2021-22 PROGRAM YEAR, MEMBERS SERVED AT 20 PARTNER SITES THROUGH COMMUNITY FORESTRY CORPS AND HOME ENERGY CORPS. AS PART OF CLIMATE IMPACT CORPS, MEMBERS FOCUSED ON PRESERVING AND EXPANDING THE STATE'S TREE CANOPY AND HELPING HOUSEHOLDS REDUCE THEIR HOME ENERGY COSTS. IN TOTAL MEMBERS INVENTORIED AND PLANTED 31,484 TREES, COMPLETED 265 HOME ENERGY AUDITS AND 1,036 SOLAR ASSESSMENTS.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt040000
IRS990/ProgSrvcAccomActyOtherGrp/Desc0READING & MATH, INC. PROVIDES TECHNICAL ASSISTANCE FOR THE DELIVERY OF READING CORPS AND MATH CORPS TO NATIONAL REPLICATION PARTNERS, ENSURING THE MODEL IS IMPLEMENTED CONSISTENTLY AND WITH FIDELITY ACROSS THE COUNTRY.
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IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt00
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt010720
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IRS990/ReconcilationRevenueExpnssAmt0971023
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IRS990ScheduleC/GrantsOtherOrganizationsInd00
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IRS990ScheduleC/PaidStaffOrManagementInd00
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0LEGISLATORS WERE CONTACTED AND URGED TO VOTE ON THE FUNDING FOR THE READING & MATH CORPS.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0PART II-B, LINE 1:
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IRS990ScheduleC/VolunteersInd00
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