Liabilities / Assets
51st percentile
Higher debt load relative to assets than 51% of similar nonprofits.
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.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
51st percentile
Higher debt load relative to assets than 51% of similar nonprofits.
Liabilities / Revenue
41st percentile
Higher debt load relative to revenue than 41% of similar nonprofits.
Net Margin
21st percentile
Higher net margin than 21% of similar nonprofits.
Top Officer Pay
Score unavailable
No filing with officer rows is available for this organization yet.
Asset Growth
10th percentile
Faster asset growth than 10% of similar nonprofits.
Revenue Growth
17th percentile
Faster revenue growth than 17% of similar nonprofits.
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
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
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.
| Line | Beginning | End | Change |
|---|---|---|---|
| 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 | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $21,900 | $576,242 | $598,142 |
| Leasehold Improvements | $0 | $22,135 | $22,135 |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Michelle Torgerson | Director/president & CEO | FT | $321,366 | $34,351 | $355,717 |
| Jonathan Thornton | VP, Strategic Growth & Revenue | FT | $166,851 | $39,771 | $206,622 |
| Michelle Hyman | SVP, Programs & Partnerships | FT | $150,396 | $53,772 | $204,168 |
| Rebecca Chrystal | Managing Director, Programs & Partnerships | FT | $153,551 | $45,697 | $199,248 |
| Jennifer Ford | VP, Finance & Operations | FT | $177,440 | $11,936 | $189,376 |
| Shelece Draper | Director, Business Operations (until December 2024) | FT | $139,195 | $26,522 | $165,717 |
| Patricia Cogley | Deputy Director, Strategic Innovation & Impact (until December 2024) | FT | $100,115 | $22,946 | $123,061 |
| Name | Title |
|---|---|
| Carol Emig | Chair |
| Gihani Fernando | Director |
| Jennifer Blatz | Director |
| Karen Calloo | Director |
| Kirk Law | Director |
| Kris Perry | Director |
| Meredith Crooks | Director |
| Portia Kennel | Director |
| Sterling Speirn | Secretary |
| Erica K Wood | Treasurer |
| Line Item | Amount |
|---|---|
| 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 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| 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 |
| Line Item | Amount |
|---|---|
| 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 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Save the Children | Fairfield, CT | 501(c)(3) | Implementation funding for program related costs and support | $24,423 |
| Centro de la Familia | Salt Lake City, UT | 501(c)(3) | Implementation funding for program related costs and support | - |
| City of West Sacramento | West Sacramento, CA | Pub Agency/Gov't | Implementation funding for program related costs and support | - |
| Community Partners | Los Angeles, CA | 501(c)(3) | Implementation funding for program related costs and support | - |
| Families in Schools | Los Angeles, CA | 501(c)(3) | Implementation funding for program related costs and support | - |
| Folsom Cordova Unified School District | Rancho Cordova, CA | Pub Agency/Gov't | Implementation funding for program related costs and support | - |
| Head Start of Northeastern Nevada | Elko, NV | 501(c)(3) | Implementation funding for program related costs and support | - |
| Palm Springs Unified School District | Palm Springs, CA | Pub Agency/Gov't | Implementation funding for program related costs and support | - |
| Raising A Reader Massachusetts | Boston, MA | 501(c)(3) | Implementation funding for program related costs and support | - |
| Region 9 Head Start Association | Sacramento, CA | 501(c)(3) | Implementation funding for program related costs and support | - |
| San Diego Unified School District | San Diego, CA | Pub Agency/Gov't | Implementation funding for program related costs and support | - |
| San Francisco Unified School District | San Francisco, CA | Pub Agency/Gov't | Implementation funding for program related costs and support | - |
| Santa Ana Unified School District | Santa Ana, CA | Pub Agency/Gov't | Implementation funding for program related costs and support | - |
| The Primary School | East Palo Alto, CA | 501(c)(3) | Implementation funding for program related costs and support | - |
| Utah Foster Care | Murray, UT | 501(c)(3) | Implementation funding for program related costs and support | - |
| Waterford | Taylorsville, UT | 501(c)(3) | Implementation funding for program related costs and support | - |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| 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 |
| Liability | Amount |
|---|---|
| Federal Income Taxes | - |
| Related Party Payables | - |
“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.”
“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.”
“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.”
“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.”
“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.”
“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.”
“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.”
“Loss on disposal of assets - -1134”
“Loss on disposal of assets - 1134”
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/Desc | 0 | Raising A Reader (RAR) is a national nonprofit family engagement and literacy program that helps families develop, practice, and maintain home literacy habits essential for school success. RAR is operated through a diverse national network of affiliates (e.g., school systems, libraries, or community agencies) at more than 2,900 locations nationally, serving families with children between the ages of 0 to 8 years old. Children participating in our programs are exposed to high-quality, developmentally appropriate children's books, providing them with both a mirror reflecting their own world and a window to the world beyond. Through initial training and ongoing support, Raising A Reader parents, even those with limited English proficiency or low literacy skills, learn how to engage their children in storytelling with picture books. The program also includes an introduction to community resources, such as the public library, setting up families for a lifetime of book enjoyment. More than 39 independent evaluations confirm the valuable impact of RAR on family engagement and early literacy skills. |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | GIHANI FERNANDO |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | KRIS PERRY |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 14 | 100115 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | VP, FINANCE & OPERATIONS |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | VP, STRATEGIC GROWTH & REVENUE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | SVP, PROGRAMS & PARTNERSHIPS |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | DEPUTY DIRECTOR, STRATEGIC INNOVATION & IMPACT (UNTIL DECEMBER 2024) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | MANAGING DIRECTOR, PROGRAMS & PARTNERSHIPS |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | DIRECTOR, BUSINESS OPERATIONS (UNTIL DECEMBER 2024) |
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| IRS990/MissionDesc | 0 | 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. |
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| IRS990/ProgramServiceRevenueGrp/Desc | 2 | Training Fees |
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| IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt | 0 | 0 |
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