Civic Intelligence

Reading Is Fundamental Inc.

990 • Fiscal year 2015 • EIN 52-0976257

Oct 01, 2014 to Sep 30, 2015 • Filed on Feb 12, 2016

Organization ProfileWWW.RIF.ORG

View Organization Page

1730 Rhode Island Avenue NW 11th FLWashington, DC 20036

(202) 536-3400

Siviq Scores

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

Liabilities / Assets

40th percentile

0.10x

Higher debt load relative to assets than 40% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

47th percentile

0.16x

Higher debt load relative to revenue than 47% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

9th percentile

-32%

Higher net margin than 9% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

84th percentile

$251,050

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

3rd percentile

-25%

Faster asset growth than 3% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

6th percentile

-44%

Faster revenue growth than 6% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets40th percentile

Assets

Down

$9,957,469

Down $3,359,931 (-25%) from 2014

Net Assets

Down

$8,939,704

Down $2,547,231 (-22%) from 2014

Liabilities

Down

$1,017,765

Down $812,700 (-44%) from 2014

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin9th percentile

Revenue

Down

$6,317,349

Down $4,968,664 (-44%) from 2014

Expenses

Down

$8,316,467

Down $3,966,279 (-32%) from 2014

Net Income

Down

-$1,999,118

Down $1,002,385 (-101%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$30M$20M$10M$0Assets 2011: $21,215,983Liabilities 2011: $6,340,793Net Assets 2011: $14,875,1902011Assets 2012: $15,567,874Liabilities 2012: $1,026,624Net Assets 2012: $14,541,2502012Assets 2013: $13,846,719Liabilities 2013: $1,506,094Net Assets 2013: $12,340,6252013Assets 2014: $13,317,400Liabilities 2014: $1,830,465Net Assets 2014: $11,486,9352014Assets 2015: $9,957,469Liabilities 2015: $1,017,765Net Assets 2015: $8,939,7042015Assets 2016: $9,415,552Liabilities 2016: $770,687Net Assets 2016: $8,644,8652016Assets 2017: $10,345,218Liabilities 2017: $2,007,300Net Assets 2017: $8,337,9182017Assets 2018: $13,390,600Liabilities 2018: $1,719,863Net Assets 2018: $11,670,7372018Assets 2019: $16,836,002Liabilities 2019: $2,562,432Net Assets 2019: $14,273,5702019Assets 2020: $15,864,759Liabilities 2020: $3,236,713Net Assets 2020: $12,628,0462020Assets 2021: $18,008,233Liabilities 2021: $2,241,450Net Assets 2021: $15,766,7832021Assets 2022: $22,372,600Liabilities 2022: $2,164,204Net Assets 2022: $20,208,3962022Assets 2023: $23,642,815Liabilities 2023: $2,958,232Net Assets 2023: $20,684,5832023Assets 2025: $28,242,855Liabilities 2025: $3,126,780Net Assets 2025: $25,116,0752025

Highlighted filing

2015

Assets$9,957,469
Liabilities$1,017,765
Net Assets$8,939,704
Open 2015 Filing

Operations Trend

Revenue Growth6th percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2011: $33,940,4722011Expenses 2012: $22,851,2642012Expenses 2013: $13,144,8062013Revenue 2014: $11,286,013Expenses 2014: $12,282,746Net Income 2014: -$996,7332014Revenue 2015: $6,317,349Expenses 2015: $8,316,467Net Income 2015: -$1,999,1182015Revenue 2016: $6,182,363Expenses 2016: $6,782,069Net Income 2016: -$599,7062016Revenue 2017: $6,364,247Expenses 2017: $6,969,506Net Income 2017: -$605,2592017Revenue 2018: $11,152,480Expenses 2018: $7,753,028Net Income 2018: $3,399,4522018Revenue 2019: $11,675,652Expenses 2019: $8,911,585Net Income 2019: $2,764,0672019Revenue 2020: $6,662,859Expenses 2020: $8,682,559Net Income 2020: -$2,019,7002020Revenue 2021: $9,974,937Expenses 2021: $7,583,670Net Income 2021: $2,391,2672021Revenue 2022: $16,088,590Expenses 2022: $9,207,334Net Income 2022: $6,881,2562022Revenue 2023: $11,218,497Expenses 2023: $11,451,500Net Income 2023: -$233,0032023Revenue 2025: $18,697,726Expenses 2025: $15,678,781Net Income 2025: $3,018,9452025

Highlighted filing

2015

Revenue$6,317,349
Expenses$8,316,467
Net Income-$1,999,118
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Feb 12, 2016
Return Version
2014v6.0
Gross Receipts
$8,247,322
Mission and Program Overview

Mission

Reading is fundamental works to disrupt the alarming u.s. Literacy crisis by inspiring the joy of reading in children, a critical element to driving the frequency, motivation, and engagement needed to create skilled readers. We know that if we build a foundation of joy for children, then development, discovery, and opportunity follow.

Motivating children to read by making reading a fun and beneficial part of everyday life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,997,624$6,821,329▼ $176,295
Savings and Temporary Cash Investments$5,197,785$2,498,569▼ $2,699,216
Prepaid Expenses and Deferred Charges$187,110$186,500▼ $610
Land, Buildings, and Equipment, Net$321,472$183,384▼ $138,088
Cash and Non-Interest-Bearing Accounts$150,500$150,500→ $0
Pledges and Grants Receivable$419,723$80,142▼ $339,581
Accounts Receivable$2,218$0▼ $2,218
Total Assets$13,317,400$9,957,469▼ $3,359,931
Other Assets Total$40,968$37,045▼ $3,923
Liabilities
Grants Payable$479,662$425,902▼ $53,760
Other Liabilities$397,904$333,463▼ $64,441
Accounts Payable and Accrued Expenses$952,899$258,400▼ $694,499
Total Liabilities$1,830,465$1,017,765▼ $812,700
Net Assets / Fund Balance
Unrestricted Net Assets$5,936,725$5,405,249▼ $531,476
Temporarily Rstr Net Assets$4,958,600$2,942,845▼ $2,015,755
Permanently Rstr Net Assets$591,610$591,610→ $0
Total Net Assets Fund Balance$11,486,935$8,939,704▼ $2,547,231
Total Liabilities and Net Assets / Fund Balance$13,317,400$9,957,469▼ $3,359,931

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$137,013$2,048,612$2,185,625
Equipment$46,371$396,630$443,001

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$712,294-▼ $12,271$18,533$681,490
2013$661,141-▲ $60,730$9,577$712,294
2012$678,170-▲ $62,481$79,510$661,141
2011$762,296$-50,000▲ $178$34,304$678,170
2010$569,908$144,193▲ $55,199$7,004$762,296
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carol H RascoPresident and CEOFT$225,201$25,849$251,050
Aileen C Moffatt BucknerVice President of DevelopmentFT$113,535$9,177$122,712
Judy CheathamVP of Lit. Services - Until 07/2015FT$100,814$17,484$118,298

Board Members and Trustees

NameTitle
John RemondiChairman
Rick ZimmermanVice Chairman
Carolyn SimpsonDirector
Christopher CerfDirector
Emily MooreDirector
Kitty KelleyDirector
Mark WalbyDirector
Marshall J LuxDirector
Matthew MccorryDirector
Dr Carol B SiscoDirector - Until 09/2015
Margaret Mcnamara PastorDirector - Until 09/2015
William Me Rachal JrDirector - Until 09/2015
Ashley LyonsDirector - Until 12/2014
Christy MoberlySecretary
Jj JohnsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Policy Studies Associates INCProfessional Consulting1718 CT AVENW SUITE 400, Washington, DC 20009$285,000
One Source ProductionMailing List Management38590 BETTIS DRIVE, Hamilton, VA 20158$228,896
BdoProfessional Consulting7101 WISCONSIN AVENUE SUITE 800, Bethesda, MD 20814-4827$180,000
Smarter Learning Group INCProfessional Consulting4011 YOKE DRIVE, Hampstead, MD 21074$144,000
Lautman Maska Neill & CoProfessional Fundraising1730 RHODE ISLAND AVE NW, Washington, DC 20036$102,815
Revenue and Support

Revenue Composition

Contributions and Grants
$5,781,544
Program Service Revenue
$50,163
Investment Income
$462,131
Other Revenue
$23,511
All Other Contributions
$4,262,196
Change in Net Assets
$-1,999,118

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table35$25,001Fair Market Value (FMV)
Securities Publicly Traded1$14,302Fair Market Value (FMV)
Total Noncash Contributions36$39,303-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,289,822
Revenue Not Reported on Financial Statements
$27,527
Revenue Not Reported on Form 990
$-333,979
Total Revenue per Audited Statements
$5,955,843
Total Revenue per Form 990
$6,317,349
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,152,465
Salaries, Compensation, and Employee Benefits$2,289,119
Grants and Similar Amounts Paid$1,677,883
Total Fundraising Expense$1,356,045
Professional Fundraising Fees$197,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$960,344$298,892$427,140$1,686,376
Grants to Domestic Orgs$1,677,883--$1,677,883
Fees for Services Other$427,217$146,411$184,580$758,208
Occupancy$263,291$125,797$123,752$512,840
Current Officers, Directors, Trustees, and Key Employees$36,786$207,582$18,395$262,763
Fees for Services Accounting-$229,184-$229,184
Fees for Services Professional Fundraising--$197,000$197,000
Office Expenses$20,557$8,757$116,141$145,455
Payroll Taxes$73,603$31,421$33,567$138,591
Depreciation Depletion$104,406$16,980$16,702$138,088
Other Employee Benefits$78,715$22,950$29,613$131,278
Other Expenses$95,958$1,920$146,794$95,958
Information Technology$46,391$22,199$21,855$90,445
Travel$55,098$13,854$15,541$84,493
Pension Plan Contributions$41,857$9,239$19,015$70,111
Fees for Service Investment Mgmnt Fees-$27,527-$27,527
Insurance$12,197$5,836$5,741$23,774
Fees for Services Legal-$12,746-$12,746
Total Functional Expenses$5,779,020$1,181,402$1,356,045$8,316,467

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,503,074
Total Expenses per Form 990$8,316,467
Expenses per Audited Statements$8,288,940
Expenses Not Reported on Form 990$214,134
Expenses Not Reported on Financial Statements$27,527
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Acuden - Adm Para Cuidado De La NinezLockhart, TXN/aTo Foster Literacy-
Allen County Primary CenterClackamas, ORN/aTo Foster Literacy-
American Red Cross - IndianapolisNorfolk, VA501(c)(3)To Foster Literacy-
Bessemer City SchoolsPittsburgh, PAN/aTo Foster Literacy-
Bethlehem Area School DistrictMt Vernon, NYN/aTo Foster Literacy-
Birdville RifOgden, UT501(c)(3)To Foster Literacy-
BookspringDetroit, MI501(c)(3)To Foster Literacy-
Brooklyn Public LibraryBrooklyn, NY, Rq501(c)(3)To Foster Literacy-
CHILDREN'S AID AND FAMILY SERVICESMccalla, AL501(c)(3)To Foster Literacy-
CHILDREN'S HARBORQuincy, WA501(c)(3)To Foster Literacy-
CLACKAMAS COUNTY CHILDREN'S COMMISSION HEAD STARTTerrell, TX501(c)(3)To Foster Literacy-
Carrizo Springs CisdLansdale, PAN/aTo Foster Literacy-
Carvin School IncSanta Clara, CAN/aTo Foster Literacy-
City of BristolFresno, CAN/aTo Foster Literacy-
Clackamas Education Service DistrictMarysville, CAN/aTo Foster Literacy-
College Heights ElementarySan Antonio, TXN/aTo Foster Literacy-
Communities in Schools of AtlantaDayton, OH501(c)(3)To Foster Literacy-
Community Action Commission Santa BarbaraMission, TX501(c)(3)To Foster Literacy-
Confluence AcademyUniondale, NY501(c)(3)To Foster Literacy-
Consolidated School District of New BritainMonterey, CAN/aTo Foster Literacy-
Contra Costa County Community Services DepartmentWeslaco, TXN/aTo Foster Literacy-
Corpus Christi IsdCorpus Christi, TXN/aTo Foster Literacy-
Cossma IncEdcouch, TX501(c)(3)To Foster Literacy-
Dallas IsdDallas, TXN/aTo Foster Literacy-
Delta Lambda Rif ProjectMartinez, CA501(c)(3)To Foster Literacy-
Detroit Public Schools FoundationAnaheim, CA501(c)(3)To Foster Literacy-
District 279 FoundationHarlingen, TX501(c)(3)To Foster Literacy-
Dogwood Elementary SchoolHazle Township, PAN/aTo Foster Literacy-
Drop in Learningresource CenterSan Antonio, TX501(c)(3)To Foster Literacy-
E Center Head Start ProgramsPortsmouth, VA501(c)(3)To Foster Literacy-
Eagle Pass IsdEagle Pass, TXN/aTo Foster Literacy-
Easton Area School District RifReston, VA501(c)(3)To Foster Literacy-
Edcouch-elsa Isd (migrant)Austin, TXN/aTo Foster Literacy-
Forest Edge Elementary School-N/aTo Foster Literacy-
Fort Valley Alumnae Chapter Delta Sigma ThetaHonolulu, HI501(c)(7)To Foster Literacy-
Fort Worth Isd RifWyoming, MI501(c)(3)To Foster Literacy-
Fresno County Office of EducationMilwaukie, ORN/aTo Foster Literacy-
Gamma Sigma Lambda Chapter - Alpha Phi Alpha-501(c)(7)To Foster Literacy-
Groveton Elementary SchoolDearborn Heights, MIN/aTo Foster Literacy-
Hampton Elementary SchoolOrlando, FLN/aTo Foster Literacy-
Hanover Area School DistrictSpartanburg, SCN/aTo Foster Literacy-
Harlingen CisdHarlingen, TXN/aTo Foster Literacy-
Hazleton Area School DistrictReston, VAN/aTo Foster Literacy-
Head Start of Rockland IncSalinas, CA501(c)(3)To Foster Literacy-
High Springs Community School-N/aTo Foster Literacy-
Iberville Parish School DistrictSanford, MEN/aTo Foster Literacy-
Ics Head StartHolly Springs, MS501(c)(3)To Foster Literacy-
Jb Passmore ElementaryFort Valley, GAN/aTo Foster Literacy-
Jean Dean RifOpelika, AL, Rq501(c)(3)To Foster Literacy-
Jesse S Bobo ElementarySaint Louis, MON/aTo Foster Literacy-
John C Freemont Magnet SchoolMarsing, IDN/aTo Foster Literacy-
Lansing School DistrictFort Worth, TXN/aTo Foster Literacy-
Lebanon School DistrictArdmore, OKN/aTo Foster Literacy-
Lehigh Valley Public Telecommunication CorporationNew Britain, CT501(c)(3)To Foster Literacy-
Magnolia School DistrictReading, PAN/aTo Foster Literacy-
Marsing School DistrictHaverstraw, NYN/aTo Foster Literacy-
Mayor Joe V Sanchez Public LibrarySaint Louis, MON/aTo Foster Literacy-
Mcadory Elementary SchoolScottsville, KYN/aTo Foster Literacy-
Menlo Park Library - Belle Haven BranchAlexandria, VA501(c)(3)To Foster Literacy-
Miami Valley Child Development Centers IncSacramento, CA501(c)(3)To Foster Literacy-
Miami-dade Family Learning Partnership IncMiami, FL501(c)(3)To Foster Literacy-
Migrant Education Region IiiMerced, CAN/aTo Foster Literacy-
Minnesota Department of EducationCarthage, NCN/aTo Foster Literacy-
Mt Pleasant Independent School DistrictMaple Grove, MNN/aTo Foster Literacy-
Mt Vernon Public LibraryGlen Cove, NYN/aTo Foster Literacy-
Mt View ElementaryRoseville, MNN/aTo Foster Literacy-
Muskingum Ira RifFlagstaff, AZ501(c)(3)To Foster Literacy-
Nacog Head StartLansing, MI501(c)(3)To Foster Literacy-
North Penn School DistrictAppleton City, MON/aTo Foster Literacy-
Northside IsdLebanon, PA501(c)(3)To Foster Literacy-
Northview Elementary SchoolHanover Township, PAN/aTo Foster Literacy-
Office for Child Development-head StartNew London, CT501(c)(3)To Foster Literacy-
Omega Psi Phi-lambda Alpha Chapter FoundationAmarillo, TX501(c)(7)To Foster Literacy-
Orange County Head StartFort Valley, GA501(c)(3)To Foster Literacy-
PAGE AHEAD CHILDREN'S LITERACY PROGRAMSeattle, WA501(c)(3)To Foster Literacy-
Partners for Children and FamiliesAlton, IL501(c)(3)To Foster Literacy-
Pharr-san Juan-alamo IsdEl Paso, TXN/aTo Foster Literacy-
Philadelphia ReadsAtlanta, GA501(c)(3)To Foster Literacy-
Plainview Intermediate Elementary-N/aTo Foster Literacy-
Quota International of GreensboroToledo, OH501(c)(3)To Foster Literacy-
Reach Out & ReadBoston, MA, Rq501(c)(3)To Foster Literacy-
Read Aloud AmericaEl Paso, TX501(c)(3)To Foster Literacy-
ReadbostonBoston, MA501(c)(3)To Foster Literacy-
Reading Is Fundamental Honolulu IncReno, NV501(c)(3)To Foster Literacy-
Reading Is Fundamental PittsburghPhiladelphia, PA501(c)(3)To Foster Literacy-
Reading Is Fundamental St Louis IncAurora, IL501(c)(3)To Foster Literacy-
Reading Is Fundamental in ChicagoWestchester, IL501(c)(3)To Foster Literacy-
Reading Is Fundamental of Southern CaliforniaCommerce, CA, Rq501(c)(3)To Foster Literacy-
Reading School DistrictBethlehem, PAN/aTo Foster Literacy-
Region 19 Head StartPhoenix, AZ501(c)(3)To Foster Literacy-
Rif of LockhartZanesville, OH501(c)(3)To Foster Literacy-
Rif of St PetersburgBethlehem, PA501(c)(3)To Foster Literacy-
Riverbend Head Start & Family ServicesPharr, TX501(c)(3)To Foster Literacy-
Robert F Kennedy Pre-kSan Antonio, TXN/aTo Foster Literacy-
Romulo D Martinez ElementaryBristol, CTN/aTo Foster Literacy-
Sacramento City Unified School DistrictSalem, ORN/aTo Foster Literacy-
Salinas Area Rif ProgramWilliamsport, PA501(c)(3)To Foster Literacy-
San Antonio Isd Library Media ServicesStamford, CTN/aTo Foster Literacy-
San Francisco Public LibraryLancaster, PA501(c)(3)To Foster Literacy-
Santa Clara City Library Foundation & FriendsBakersfield, CA501(c)(3)To Foster Literacy-
School District of LancasterIndianapolis, INN/aTo Foster Literacy-
Sco Family of ServicesHaltom City, TX501(c)(3)To Foster Literacy-
Southwest Human DevelopmentSan Francisco, CA501(c)(3)To Foster Literacy-
Stamford Public Education FoundationBessemer, AL501(c)(3)To Foster Literacy-
Star International AcademyGas City, INN/aTo Foster Literacy-
Sunflower County Consolidated School DistrictIndianola, MSN/aTo Foster Literacy-
Terrell Isd Head Start ProgramCarrizo Springs, TX501(c)(3)To Foster Literacy-
Texas State Technical CollegeGoleta, CAN/aTo Foster Literacy-
The Book FairiesMt Pleasant, TX501(c)(3)To Foster Literacy-
The Guidance CenterSouthgate, MI501(c)(3)To Foster Literacy-
The Literacy Partnership IncPlaquemine, LA501(c)(3)To Foster Literacy-
The Public Education FoundationBaton Rouge, LA501(c)(3)To Foster Literacy-
The Sure Foundation Child Care IncMenlo Park, CA501(c)(3)To Foster Literacy-
Toledo Public SchoolsLas Vegas, NV501(c)(3)To Foster Literacy-
Two Rivers Head Start AgencyGreensboro, NC501(c)(3)To Foster Literacy-
WOMEN'S & CHILDREN'S HEALTHCARE CENTERParamus, NJN/aTo Foster Literacy-
Washoe County School DistrictEaston, PAN/aTo Foster Literacy-
Weber County LibraryBakersfield, CA501(c)(3)To Foster Literacy-
West Central Mo Community Action AgencyhsGulfport, FL501(c)(3)To Foster Literacy-
Willamette Education Service DistrictGreensboro, NCN/aTo Foster Literacy-
Williamsport Area School DistrictHigh Springs, FLN/aTo Foster Literacy-
Wyoming Public SchoolsWailuku, HIN/aTo Foster Literacy-
York County Community Action CorporationFreeport, NY501(c)(3)To Foster Literacy-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$197,000
Fundraising Direct Expenses$175,821
Fundraising Gross Income$59,500

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Gala/auction$632,809$59,500$79,427$-19,927
Total Events$632,809$59,500$175,821$-116,321
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent and Lease Incentives$269,606
Deposit$63,857
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 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, Part VI, Section B, Line 11

“Rif's finance/audit committee of the board of directors reviews the federal form 990. It is then distributed to the entire board of directors before it is filed with the internal revenue service (irs).”

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

“Rif's conflict of interest policy ("policy") applies to board members, officers and rif senior managers (collectively "rif insiders"). The policy requires that a rif insider disclose any potential conflict to the board of directors or a designated committee of the board. Violations of the policy will result in appropriate disciplinary and corrective action, up to and including dismissal. Rif insiders are required to annually sign a statment affirming that he or she: - has received a copy of the policy, - has read and understands the policy, - has agreed to comply with, and has complied with the policy, - understands that rif is a charitable and educational organization and that, in order to maintain its federal tax exemption and preserve rif's valuable reputation, rif must engage primarily in activities that accomplish its tax exempt purpose.”

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

“To begin the annual evaluation of the president and ceo, the chair of the board first solicits input from all board members concerning the president's performance. The executive committee then considers the input of the responding board members in its review of the president and ceo, and reports back to the board of directors its evaluation. The executive committee then shares its evaluation with the president and ceo. The executive committee then consults comparability surveys to determine the president and ceo's compensation for the next year.”

Form 990, Part VI, Section C, Line 19

“Rif submits its audited financial statements, federal form 990 and irs letter of determination (of rif's tax exempt status) to guidestar for publication on that service. Rif also publishes its federal form 990 on its own website. To date, rif has not published its conflict of interest policy for access by the general public. All documents, including our governing documents, the federal forms 1023 and 990-t are also available upon request.”

Filing and Contact Details

Filer

Filer Name
Reading Is Fundamental Inc
EIN
52-0976257
Phone
2025363400
Address
1730 RHODE ISLAND AVENUE NW 11TH FL, WASHINGTON, DC 20036

Signing Officer

Name
Carol H Rasco
Title
President and CEO
Phone
2025363400
Signed
2016-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol H Rasco
Formed
1973
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
11
Employees
35
Volunteers
50,015

Preparer

Firm
Raffa Pc
Address
1899 STREET NW SUITE 850, WASHINGTON, DC 20036
Preparer
Frank H Smith
Phone
2028225000
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“Earnings from the endowment funds are recorded and made available for operations through an annual allocation of up to 5% of the fund. The allocation is based on a three-year rolling average of the investment's market value, determined as of march 31 of the year prior to the budget year. Each year, as part of rif's budgeting process, rif reviews the appropriate level of payout for the following fiscal year. Fund disbursements are paid at the end of each quarter in the fiscal year. Each fund's operating income is utilized as set forth in the specific applicable endowment agreement. The general endowment fund's income is utilized for general operations.”

PART X, LINE 2:

“Rif performed an evaluation of uncertain tax positions for the years ended september 30, 2015 and 2014, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Special event expenses 175,821.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special event expenses 175,821.”

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt050163
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt050163
IRS990/ProgSrvcAccomActy2Grp/Desc0LITERACY SERVICES AND OTHER PROGRAMS: RIF'S LITERACY SERVICES INCLUDE FAMILY AND COMMUNITY ENGAGEMENT AND LITERACY TRAINING FOR EDUCATORS AND COMMUNITY ORGANIZATIONS. FAMILY AND COMMUNITY ENGAGEMENT ACTIVITIES ARE DESIGNED TO HELP PARENTS TAKE A LEADING ROLE IN ENCOURAGING THEIR CHILDREN'S LITERACY DEVELOPMENT. WITH THE GUIDANCE OF RIF'S VOLUNTEERS, PARENTS PARTICIPATE IN WORKSHOPS, BOOK DISTRIBUTIONS, AND READING CELEBRATIONS. RIF CONDUCTS LITERACY TRAINING FOR EARLY CHILDHOOD EDUCATORS. THIS TRAINING IS DESIGNED TO SUPPORT CHILDREN'S EMERGING LANGUAGE AND LITERACY SKILLS AS WELL AS INCLUDE PARENTS AS THEIR CHILDREN'S FIRST TEACHERS. THE TRAINING IS DONE THROUGH A "TRAIN THE TRAINER" MODEL THAT PREPARES PARTICIPANTS TO RETURN TO THEIR COMMUNITIES AND DELIVER THE TRAINING TO THEIR COLLEAGUES AND COMMUNITIES.EACH YEAR, RIF SOLICITS NOMINATIONS FROM AROUND THE COUNTRY FOR ITS VOLUNTEER OF THE YEAR AWARDS (VOYA) UNDER ITS VOLUNTEER RECOGNITION PROGRAM. A PANEL OF JUDGES SELECT WINNERS BASED UPON THE INDIVIDUAL'S DEMONSTRATED CONCERN FOR CHILDREN AND EDUCATION, EXCEPTIONAL DEDICATION TO FULFILLING RIF'S MISSION, AND DEVELOPMENT OF INNOVATIVE PROGRAMS THAT ENCOURAGE FAMILY AND COMMUNITY INVOLVEMENT. THE WINNERS ARE HONORED AT A CELEBRATION IN WASHINGTON, DC. RIF HOSTS OTHER LITERACY EVENTS WHICH HELP PROMOTE LITERACY AND INFORM OTHERS ABOUT ITS MISSION.RIF CONTRACTS WITH INDEPENDENT OUTSIDE EXPERTS TO EVALUATE RIF'S PROGRAM ACTIVITIES TO IDENTIFY AREAS OF NEED AND ESTABLISH PROCEDURES FOR CONTINUOUS QUALITY IMPROVEMENT.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01220290
IRS990/ProgSrvcAccomActy3Grp/Desc0LITERACY RESEARCH: IN FISCAL YEAR 2015, RIF COMPLETED A TWO-YEAR EVALUATION OF THE DEPARTMENT OF EDUCATION-FUNDED PROGRAM MODEL, THE INNOVATIVE APPROACHES TO LITERACY PROGRAM (IAL). THE IAL SUPPORTED HIGH QUALITY PROGRAMS DESIGNED TO DEVELOP AND IMPROVE LITERACY SKILLS FOR CHILDREN AND STUDENTS FROM BIRTH THROUGH 12TH GRADE WITHIN THE ATTENDANCE BOUNDARIES OF HIGH-NEED LOCAL EDUCATIONAL AGENCIES AND SCHOOLS. UNDER THE IAL, RIF IMPLEMENTED A HIGH-QUALITY RESEARCH-BASED PLAN FOR AN INNOVATIVE APPROACH TO IMPROVE CHILDHOOD LITERACY THAT INCLUDES BOOK DISTRIBUTIONS, BOOK COLLECTIONS FOR CLASSROOMS AND MEDIA CENTERS IN 145 ELEMENTARY SCHOOLS, LITERACY ACTIVITIES, TEACHER SUPPORT, PARENT INVOLVEMENT, AND A QUASI-EXPERIMENTAL DESIGN, REACHING CHILDREN AND FAMILIES IN 15 STATES AND THE DISTRICT OF COLUMBIA.

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,957,469
Liabilities
$1,017,765
Net assets
$8,939,704
Revenue
$6,317,349
Expenses
$8,316,467
Net income
-$1,999,118
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.2$3.13$25.1$18.7$15.7$3.02
2023Summary only. Only limited summary data is available for this year.$23.6$2.96$20.7$11.2$11.5$0.23
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.4$2.16$20.2$16.1$9.21$6.88
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.0$2.24$15.8$9.97$7.58$2.39
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.9$3.24$12.6$6.66$8.68$2.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.8$2.56$14.3$11.7$8.91$2.76
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.4$1.72$11.7$11.2$7.75$3.40
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$2.01$8.34$6.36$6.97$0.61
2016Detailed filing. Detailed filing data is available for this year.$9.42$0.77$8.64$6.18$6.78$0.60
2015Detailed filing. Detailed filing data is available for this year.$9.96$1.02$8.94$6.32$8.32$2.00
2014Detailed filing. Detailed filing data is available for this year.$13.3$1.83$11.5$11.3$12.3$1.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$1.51$12.3$13.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.6$1.03$14.5$22.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.2$6.34$14.9$33.9
Peer Organizations

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