Civic Intelligence

Raising a Reader

EIN 94-3390149 • 501(c)3 • Milpitas, CA

Profile

Raising a reader's mission is to engage parents in a routine of daily "book cuddling" with their children aged 0-8 to foster healthy brain development, parent-child bonding and the literacy skills critical for school success.

489 Valley WayMilpitas, CA 95035

www.raisingareader.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

51st percentile

0.13x

Higher debt load relative to assets than 51% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

41st percentile

0.10x

Higher debt load relative to revenue than 41% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

21st percentile

-9.0%

Higher net margin than 21% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

10th percentile

-11%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

17th percentile

-14%

Faster revenue growth than 17% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$3,927,013

Down $496,999 (-11%) from 2023

Liabilities

Down

$503,235

Down $54,556 (-9.8%) from 2023

Net Assets

Down

$3,423,778

Down $442,443 (-11%) from 2023

Revenue

Down

$4,911,900

Down $788,115 (-14%) from 2023

Expenses

Up

$5,354,343

Up $571,965 (+12%) from 2023

Net Income

Down

-$442,443

Down $1,360,080 (-148%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2010: $2,602,366Liabilities 2010: $343,830Net Assets 2010: $2,258,5362010Assets 2011: $2,371,109Liabilities 2011: $361,024Net Assets 2011: $2,010,0852011Assets 2012: $3,157,217Liabilities 2012: $992,696Net Assets 2012: $2,164,5212012Assets 2013: $3,700,352Liabilities 2013: $1,238,848Net Assets 2013: $2,461,5042013Assets 2014: $3,443,614Liabilities 2014: $663,807Net Assets 2014: $2,779,8072014Assets 2015: $3,153,766Liabilities 2015: $598,946Net Assets 2015: $2,554,8202015Assets 2016: $2,690,102Liabilities 2016: $527,358Net Assets 2016: $2,162,7442016Assets 2017: $3,146,956Liabilities 2017: $787,122Net Assets 2017: $2,359,8342017Assets 2018: $2,954,426Liabilities 2018: $543,977Net Assets 2018: $2,410,4492018Assets 2019: $3,335,583Liabilities 2019: $422,845Net Assets 2019: $2,912,7382019Assets 2020: $3,787,698Liabilities 2020: $900,728Net Assets 2020: $2,886,9702020Assets 2021: $3,407,480Liabilities 2021: $777,404Net Assets 2021: $2,630,0762021Assets 2022: $3,326,192Liabilities 2022: $377,608Net Assets 2022: $2,948,5842022Assets 2023: $4,424,012Liabilities 2023: $557,791Net Assets 2023: $3,866,2212023Assets 2024: $3,927,013Liabilities 2024: $503,235Net Assets 2024: $3,423,7782024

Highlighted filing

2024

Assets$3,927,013
Liabilities$503,235
Net Assets$3,423,778

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,694,4162010Expenses 2011: $2,888,5902011Expenses 2012: $3,306,2642012Revenue 2013: $5,124,200Expenses 2013: $4,677,435Net Income 2013: $446,7652013Revenue 2014: $5,419,103Expenses 2014: $5,100,800Net Income 2014: $318,3032014Revenue 2015: $4,279,416Expenses 2015: $4,504,403Net Income 2015: -$224,9872015Revenue 2016: $3,983,033Expenses 2016: $4,388,078Net Income 2016: -$405,0452016Revenue 2017: $3,779,351Expenses 2017: $3,582,261Net Income 2017: $197,0902017Revenue 2018: $3,386,464Expenses 2018: $3,340,848Net Income 2018: $45,6162018Revenue 2019: $3,889,593Expenses 2019: $3,392,917Net Income 2019: $496,6762019Revenue 2020: $3,159,603Expenses 2020: $3,186,643Net Income 2020: -$27,0402020Revenue 2021: $3,625,081Expenses 2021: $3,882,062Net Income 2021: -$256,9812021Revenue 2022: $4,999,126Expenses 2022: $4,680,618Net Income 2022: $318,5082022Revenue 2023: $5,700,015Expenses 2023: $4,782,378Net Income 2023: $917,6372023Revenue 2024: $4,911,900Expenses 2024: $5,354,343Net Income 2024: -$442,4432024

Highlighted filing

2024

Revenue$4,911,900
Expenses$5,354,343
Net Income-$442,443

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.93$0.50$3.42$4.91$5.35$0.44
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.42$0.56$3.87$5.70$4.78$0.92
2022Detailed filing. Detailed filing data is available for this year.$3.33$0.38$2.95$5.00$4.68$0.32
2021Detailed filing. Detailed filing data is available for this year.$3.41$0.78$2.63$3.63$3.88$0.26
2020Detailed filing. Detailed filing data is available for this year.$3.79$0.90$2.89$3.16$3.19$0.03
2019Detailed filing. Detailed filing data is available for this year.$3.34$0.42$2.91$3.89$3.39$0.50
2018Detailed filing. Detailed filing data is available for this year.$2.95$0.54$2.41$3.39$3.34$0.05
2017Detailed filing. Detailed filing data is available for this year.$3.15$0.79$2.36$3.78$3.58$0.20
2016Detailed filing. Detailed filing data is available for this year.$2.69$0.53$2.16$3.98$4.39$0.41
2015Detailed filing. Detailed filing data is available for this year.$3.15$0.60$2.55$4.28$4.50$0.22
2014Detailed filing. Detailed filing data is available for this year.$3.44$0.66$2.78$5.42$5.10$0.32
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.70$1.24$2.46$5.12$4.68$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.16$0.99$2.16$3.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$0.36$2.01$2.89
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$0.34$2.26$2.69
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 20, 2025
Return Version
2024v5.1
Gross Receipts
$5,768,423
Mission and Program Overview

Mission

Raising a reader's mission is to engage parents in a routine of daily "book cuddling" with their children aged 0-8 to foster healthy brain development, parent-child bonding and the literacy skills critical for school success.

Raising a Reader supports families and inspires the development of literacy skills and a lifelong love for reading. We help children attain brighter futures in which they can thrive and contribute in school, the workforce and society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,866,827$1,777,244▼ $89,583
Pledges and Grants Receivable$1,985,163$1,342,797▼ $642,366
Inventories for Sale or Use$468,245$456,957▼ $11,288
Accounts Receivable$33,137$269,858▲ $236,721
Prepaid Expenses and Deferred Charges$43,403$58,027▲ $14,624
Land, Buildings, and Equipment, Net$26,937$21,900▼ $5,037
Cash and Non-Interest-Bearing Accounts$300$230▼ $70
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$4,424,012$3,927,013▼ $496,999
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$377,891$336,978▼ $40,913
Mortgage Notes Payable Secured by Investment Property$144,682$140,976▼ $3,706
Unsecured Notes Loans Payable$35,218$25,281▼ $9,937
Other Liabilities$0$0→ $0
Total Liabilities$557,791$503,235▼ $54,556
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,437,892$2,095,506▼ $342,386
Net Assets Without Donor Restrictions$1,428,329$1,328,272▼ $100,057
Total Net Assets Fund Balance$3,866,221$3,423,778▼ $442,443
Total Liabilities and Net Assets / Fund Balance$4,424,012$3,927,013▼ $496,999

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,900$576,242$598,142
Leasehold Improvements$0$22,135$22,135
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michelle TorgersonDirector/president & CEOFT$321,366$34,351$355,717
Jonathan ThorntonVP, Strategic Growth & RevenueFT$166,851$39,771$206,622
Michelle HymanSVP, Programs & PartnershipsFT$150,396$53,772$204,168
Rebecca ChrystalManaging Director, Programs & PartnershipsFT$153,551$45,697$199,248
Jennifer FordVP, Finance & OperationsFT$177,440$11,936$189,376
Shelece DraperDirector, Business Operations (until December 2024)FT$139,195$26,522$165,717
Patricia CogleyDeputy Director, Strategic Innovation & Impact (until December 2024)FT$100,115$22,946$123,061

Board Members and Trustees

NameTitle
Carol EmigChair
Gihani FernandoDirector
Jennifer BlatzDirector
Karen CallooDirector
Kirk LawDirector
Kris PerryDirector
Meredith CrooksDirector
Portia KennelDirector
Sterling SpeirnSecretary
Erica K WoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,905,167
Program Service Revenue
$2,963,001
Investment Income
$43,732
Other Revenue
$0
All Other Contributions
$1,904,295
Change in Net Assets
$-442,443

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,913,034
Revenue Not Reported on Financial Statements
$-1,134
Revenue Not Reported on Form 990
$41,976
Other Revenue Adjustments
$-1,134
Total Revenue per Audited Statements
$4,955,010
Total Revenue per Form 990
$4,911,900
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,069,972
Other Expenses$2,005,120
Total Fundraising Expense$307,345
Grants and Similar Amounts Paid$279,251
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,542,139$167,881$157,708$1,867,728
Current Officers, Directors, Trustees, and Key Employees$241,422$241,421$62,250$545,093
Other Employee Benefits$295,506$65,847$29,424$390,777
Grants to Domestic Orgs$279,251--$279,251
Payroll Taxes$132,979$25,748$15,353$174,080
Fees for Services Other$102,136$25,457$7,844$135,437
Information Technology$74,573$46,036$12,459$133,068
Fees for Services Management-$111,168-$111,168
Pension Plan Contributions$80,106$9,484$2,704$92,294
Office Expenses$53,227$5,765$6,866$65,858
Fees for Services Accounting-$51,738-$51,738
Travel$24,315$18,333$7,250$49,898
Fees for Services Legal$15,087$6,038-$21,125
Occupancy$20,215$128$85$20,428
Other Expenses$4,962$14,115$176$19,253
Insurance$11,303$2,085$1,394$14,782
Depreciation Depletion$9,529$26$775$10,330
All Other Expenses$5,353$1,063$2,782$9,198
Advertising$5,997$131$88$6,216
Conferences and Meetings$1,728$3,994$187$5,909
Interest$315$3,986-$4,301
Total Functional Expenses$4,246,554$800,444$307,345$5,354,343

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,397,453
Expenses per Audited Statements$5,354,343
Total Expenses per Form 990$5,354,343
Expenses Not Reported on Form 990$43,110
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Save the ChildrenFairfield, CT501(c)(3)Implementation funding for program related costs and support$24,423
Centro de la FamiliaSalt Lake City, UT501(c)(3)Implementation funding for program related costs and support-
City of West SacramentoWest Sacramento, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Community PartnersLos Angeles, CA501(c)(3)Implementation funding for program related costs and support-
Families in SchoolsLos Angeles, CA501(c)(3)Implementation funding for program related costs and support-
Folsom Cordova Unified School DistrictRancho Cordova, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Head Start of Northeastern NevadaElko, NV501(c)(3)Implementation funding for program related costs and support-
Palm Springs Unified School DistrictPalm Springs, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Raising A Reader MassachusettsBoston, MA501(c)(3)Implementation funding for program related costs and support-
Region 9 Head Start AssociationSacramento, CA501(c)(3)Implementation funding for program related costs and support-
San Diego Unified School DistrictSan Diego, CAPub Agency/Gov'tImplementation funding for program related costs and support-
San Francisco Unified School DistrictSan Francisco, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Santa Ana Unified School DistrictSanta Ana, CAPub Agency/Gov'tImplementation funding for program related costs and support-
The Primary SchoolEast Palo Alto, CA501(c)(3)Implementation funding for program related costs and support-
Utah Foster CareMurray, UT501(c)(3)Implementation funding for program related costs and support-
WaterfordTaylorsville, UT501(c)(3)Implementation funding for program related costs and support-
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes-
Related Party Payables-
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, Line 1A Delegate broad authority to A committee

The Executive Committee consists of the officers (Chair, Secretary, and Treasurer) of the governing board. The committee meets at the discretion of the President and CEO, no less than 4 times per year. The committee provides insight and guidance to management on issues related to the operations and notable strategic shifts in direction for the organization. All request approvals are directed to the full board.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The form 990 is placed on a secured website or sent by email for the governing body to review and comment prior to 990 filing. Review is verified by email.

Form 990, Part VI, Line 12C Conflict of interest policy

In connection with any actual or possible conflict of interest, all board members must disclose on an annual basis through the "Annual Form 990 Questionnaire for Prior Tax Year "Conflict of Interest for Current Year" questionnaires and upon discovery of a potential conflict within 30 days. Via the questionnaires, the interested person must disclose a list of offices and directorships he or she holds in charitable and business organizations that may pose a conflict of interest and to identify his or her place of employment or principal business activity as well as the organizations, corporations and other businesses with which his or her spouse or other relative may be affiliated that may pose a conflict of interest. After disclosure by the interested person of all related financial interests and all related material facts, the board will discuss and make a determination if a conflict of interest exists. In the event the organization is considering a procurement of services from an organization in which an interested person is an officer, director, or is employed, the interested person shall so inform the governing board of the conflict. The interested person may be present during the deliberation to answer questions, but must recuse himself/herself from voting on the procurement.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The organization utilizes a third party firm's market analysis of compensation data as a benchmark. The Board of Directors use this data to review the CEO's compensation during the annual performance review process for which there is contemporaneous documentation and recordkeeping.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The organization utilizes a third party firm's market analysis of compensation data as a benchmark for all staff positions. This process was last undertaken in 2023.

Form 990, Part VI, Line 19 Required documents available to the public

The audited financial statements are posted on Raising A Reader's website. The governing and organizing documents can be reviewed through an email upon request. The conflict of interest policy is not made available to the public.

Filing and Contact Details

Filer

Filer Name
Raising A Reader
EIN
94-3390149
Phone
6504890550
Address
489 Valley Way, Milpitas, CA 95035

Signing Officer

Name
Michelle Torgerson
Title
President & CEO
Signed
2025-10-20
Discuss with paid preparer
Yes

Organization Details

Formed
1999
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
10
Employees
25
Volunteers
11

Preparer

Firm
Crowe LLP
Address
5810 Tennyson Parkway Suite 450, Plano, TX 75024-4112
Preparer
Amy Bellanca
Phone
2147775200
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

Raising A Reader has been granted tax-exempt status under Section 501(C)3 of the Internal Revenue Code and Section 23701D of the California Revenue and Taxation Code, and as such no provision for income tax has been made. Raising A Reader does not have any material uncertain tax positions or unrelated business income. Raising A Reader files exempt organization returns and, if applicable, unrelated business income tax returns in the U.S. Federal and California jurisdictions.

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Loss on disposal of assets - -1134

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Loss on disposal of assets - 1134

Raw XML AppendixShowing 400 of 888 raw XML fields

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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