Civic Intelligence

Reader Institute for Community Journalism Inc.

990 • Fiscal year 2021 • EIN 84-3670420

Jan 01, 2021 to Dec 31, 2021 • Filed on Dec 26, 2022

Organization ProfileWWW.CHICAGOREADER.COM
2930 S Michigan Ave Ste 102Chicago, IL 60616

(312) 392-2970

Siviq Scores

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

Liabilities / Assets

50th percentile

0.07x

Higher debt load relative to assets than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

33rd percentile

0.03x

Higher debt load relative to revenue than 33% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

63rd percentile

20%

Higher net margin than 63% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

48th percentile

$50,637

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

95th percentile

141%

Faster asset growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

95th percentile

271%

Faster revenue growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$419,159

Up $244,970 (+141%) from 2020

Net Assets

Up

$391,042

Up $216,853 (+124%) from 2020

Liabilities

Up

$28,117

Up $28,117 from 2020

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin63rd percentile

Revenue

Up

$1,079,427

Up $788,463 (+271%) from 2020

Expenses

Up

$859,724

Up $742,949 (+636%) from 2020

Net Income

Up

$219,703

Up $45,514 (+26%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2020: $174,189Liabilities 2020: $0Net Assets 2020: $174,1892020Assets 2021: $419,159Liabilities 2021: $28,117Net Assets 2021: $391,0422021Assets 2022: $578,290Liabilities 2022: $235,638Net Assets 2022: $342,6522022Assets 2023: $580,510Liabilities 2023: $635,463Net Assets 2023: -$54,9532023Assets 2024: $897,886Liabilities 2024: $1,175,155Net Assets 2024: -$277,2692024

Highlighted filing

2021

Assets$419,159
Liabilities$28,117
Net Assets$391,042
Open 2021 Filing

Operations Trend

Revenue Growth95th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $290,964Expenses 2020: $116,775Net Income 2020: $174,1892020Revenue 2021: $1,079,427Expenses 2021: $859,724Net Income 2021: $219,7032021Revenue 2022: $2,731,613Expenses 2022: $2,780,003Net Income 2022: -$48,3902022Revenue 2023: $3,360,024Expenses 2023: $3,757,629Net Income 2023: -$397,6052023Revenue 2024: $4,404,040Expenses 2024: $4,626,356Net Income 2024: -$222,3162024

Highlighted filing

2021

Revenue$1,079,427
Expenses$859,724
Net Income$219,703
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Dec 26, 2022
Return Version
2021v4.0
Gross Receipts
$1,079,427
Mission and Program Overview

Mission

The corporation is organized to operate exclusively for charitable, educational, research and literary purposes including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code or the corresponding section of any future federal tax code, and, more specifically: (i) to conduct research, including investigative journalism and analysis of public policy issues, and to publish the results of said research, (ii) to promote community engagement with current events, the arts and literature by gathering and publishing information on such topics and related events, as a public service to the local community, (iii) to organize and promote community events and programming related to the foregoing purposes and (iv) any purpose permitted to be exempt from taxation under sections 501(c) of the united states internal revenue code or the corresponding section of any future federal tax code.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$160,858$323,849▲ $162,991
Pledges and Grants Receivable-$80,000-
Land, Buildings, and Equipment, Net-$13,271-
Inventories for Sale or Use-$1,812-
Total Assets$174,189$419,159▲ $244,970
Other Assets Total$13,331$227▼ $13,104
Liabilities
Accounts Payable and Accrued Expenses-$20,652-
Other Liabilities-$7,465-
Total Liabilities$0$28,117▲ $28,117
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$174,189$290,577▲ $116,388
Net Assets With Donor Restrictions-$100,465-
Total Net Assets Fund Balance$174,189$391,042▲ $216,853
Total Liabilities and Net Assets / Fund Balance$174,189$419,159▲ $244,970

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,271$339$13,610
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Tracy BaimPresidentPT$50,637$50,637

Board Members and Trustees

NameTitle
Eileen RhodesBoard Chair
Alison CuddyDirector
Dorothy LeavellDirector
Jackie Kaplan-perkinsDirector
Kim HuntDirector
Sladjana VuckovicDirector
Vanessa FernandezDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,069,391
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$10,036
All Other Contributions
$1,066,033
Change in Net Assets
$219,703

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,079,427
Total Revenue per Audited Statements
$1,079,427
Total Revenue per Form 990
$1,079,427
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$859,724
Total Fundraising Expense$141,785
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$155,034-$13,226$168,260
Other Expenses$84,891$31,750$4,151$84,891
Office Expenses$32,706$12,924$5,328$50,958
Fees for Services Accounting-$42,600$600$43,200
Insurance$32,504$5,575-$38,079
Information Technology$22,746--$22,746
Fees for Services Legal-$13,862-$13,862
Depreciation Depletion-$339-$339
Total Functional Expenses$610,889$107,050$141,785$859,724

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$859,724
Total Expenses per Audited Statements$859,724
Total Expenses per Form 990$859,724
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Related PartyPymts to L3c VendorsNo$482,411
-Related PartyDirect Pymts to L3cNo$106,701
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$7,465
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
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
No
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, Page 6, Part VI, Line 11B

“Draft of form 990 electronically circulated among board members by ceo prior to filing.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Reader Institute for Community
EIN
84-3670420
Phone
3123922970
Address
2930 S MICHIGAN AVE STE 102, CHICAGO, IL 60616
Doing Business As
Chicago Reader

Signing Officer

Name
Tracy Baim
Title
President
Phone
3123922970
Signed
2022-12-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tracy Baim
Formed
2019
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
4
Employees
0
Volunteers
8

Preparer

Firm
Achille Benko & Duvall Cpas
Address
1400 RENAISSANCE DR SUITE 404, PARK RIDGE, IL 60068-1329
Preparer
Thomas J Duvall CPA
Phone
8472577330
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation is organized to operate exclusively for charitable, educational, research and literary purposes including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code or the corresponding section of any future federal tax code, and, more specifically: (i) to conduct research, including investigative journalism and analysis of public policy issues, and to publish the results of said research, (ii) to promote community engagement with current events, the arts and literature by gathering and publishing information on such topics and related events, as a public service to the local community, (iii) to organize and promote community events and programming related to the foregoing purposes and (iv) any purpose permitted to be exempt from taxation under sections 501(c) of the united states internal revenue code or the corresponding section of any future federal tax code.”

Form 990, Page 1, Part I, Line 6

“For 2021, entire board and executive leadership served pro bono.”

Form 990, Part IX, Line 24E

“Support services 59,096 0 3,842 cima expenes 48,835 0 0 marketing research & publ 21,885 0 4,025 bank fees 17,038 0 0 dues & subscriptions 6,439 0 0 special event expenses 0 0 5,359 miscellaneous 959 0 0 equipment rental 782 0 0 total 155,034 0 13,226”

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IRS990/PYTotalExpensesAmt0116775
IRS990/PYTotalRevenueAmt0290964
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0261000
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01069391
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0290964
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01360355
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02338
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0339
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IRS990ScheduleD/TotalLiabilityAmt07465
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01079427
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0859724
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1482411
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1PYMTS TO L3C VENDORS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS ORGANIZED TO OPERATE EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, RESEARCH AND LITERARY PURPOSES INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE, AND, MORE SPECIFICALLY: (I) TO CONDUCT RESEARCH, INCLUDING INVESTIGATIVE JOURNALISM AND ANALYSIS OF PUBLIC POLICY ISSUES, AND TO PUBLISH THE RESULTS OF SAID RESEARCH, (II) TO PROMOTE COMMUNITY ENGAGEMENT WITH CURRENT EVENTS, THE ARTS AND LITERATURE BY GATHERING AND PUBLISHING INFORMATION ON SUCH TOPICS AND RELATED EVENTS, AS A PUBLIC SERVICE TO THE LOCAL COMMUNITY, (III) TO ORGANIZE AND PROMOTE COMMUNITY EVENTS AND PROGRAMMING RELATED TO THE FOREGOING PURPOSES AND (IV) ANY PURPOSE PERMITTED TO BE EXEMPT FROM TAXATION UNDER SECTIONS 501(C) OF THE UNITED STATES INTERNAL REVENUE CODE OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FOR 2021, ENTIRE BOARD AND EXECUTIVE LEADERSHIP SERVED PRO BONO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DRAFT OF FORM 990 ELECTRONICALLY CIRCULATED AMONG BOARD MEMBERS BY CEO PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SUPPORT SERVICES 59,096 0 3,842 CIMA EXPENES 48,835 0 0 MARKETING RESEARCH & PUBL 21,885 0 4,025 BANK FEES 17,038 0 0 DUES & SUBSCRIPTIONS 6,439 0 0 SPECIAL EVENT EXPENSES 0 0 5,359 MISCELLANEOUS 959 0 0 EQUIPMENT RENTAL 782 0 0 TOTAL 155,034 0 13,226
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0UNRELATED
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IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0589112
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt010036
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IRS990/UnrelatedBusIncmOverLimitInd0true
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$419,159
Liabilities
$28,117
Net assets
$391,042
Revenue
$1,079,427
Expenses
$859,724
Net income
$219,703
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$1.18$0.28$4.40$4.63$0.22
2023Detailed filing. Detailed filing data is available for this year.$0.58$0.64$0.05$3.36$3.76$0.40
2022Detailed filing. Detailed filing data is available for this year.$0.58$0.24$0.34$2.73$2.78$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.42$0.03$0.39$1.08$0.86$0.22
2020Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.29$0.12$0.17