Civic Intelligence

Raising a Reader

990 • Fiscal year 2018 • EIN 94-3390149

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 12, 2019

Organization Profilewww.raisingareader.org

View Organization Page

330 Twin Dolphin Drive No 147Redwood City, CA 94065

(650) 489-0550

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.18x

Higher debt load relative to assets than 62% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

60th percentile

0.16x

Higher debt load relative to revenue than 60% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

45th percentile

1.3%

Higher net margin than 45% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

99th percentile

$752,444

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 22.2% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

21st percentile

-6.1%

Faster asset growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

21st percentile

-10%

Faster revenue growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$2,954,426

Down $192,530 (-6.1%) from 2017

Net Assets

Up

$2,410,449

Up $50,615 (+2.1%) from 2017

Liabilities

Down

$543,977

Down $243,145 (-31%) from 2017

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin45th percentile

Revenue

Down

$3,386,464

Down $392,887 (-10%) from 2017

Expenses

Down

$3,340,848

Down $241,413 (-6.7%) from 2017

Net Income

Down

$45,616

Down $151,474 (-77%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$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

2018

Assets$2,954,426
Liabilities$543,977
Net Assets$2,410,449
Open 2018 Filing

Operations Trend

Revenue Growth21st percentile

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$3,386,464
Expenses$3,340,848
Net Income$45,616
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 12, 2019
Return Version
2018v3.1
Gross Receipts
$3,386,464
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 is a national program proven to build literacy through family engagement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$760,683$1,025,254▲ $264,571
Pledges and Grants Receivable$1,294,427$911,824▼ $382,603
Inventories for Sale or Use$355,545$352,960▼ $2,585
Accounts Receivable$202,248$311,641▲ $109,393
Investments Other Securities$423,456$287,162▼ $136,294
Prepaid Expenses and Deferred Charges$53,728$53,776▲ $48
Land, Buildings, and Equipment, Net$19,341$11,509▼ $7,832
Cash and Non-Interest-Bearing Accounts$300$300→ $0
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors-$0-
Total Assets$3,146,956$2,954,426▼ $192,530
Other Assets Total$37,228$0▼ $37,228
Liabilities
Other Liabilities$524,110$330,708▼ $193,402
Accounts Payable and Accrued Expenses$263,012$213,269▼ $49,743
Total Liabilities$787,122$543,977▼ $243,145
Net Assets / Fund Balance
Unrestricted Net Assets$791,214$1,269,064▲ $477,850
Temporarily Rstr Net Assets$1,568,620$1,141,385▼ $427,235
Permanently Rstr Net Assets$0--
Total Net Assets Fund Balance$2,359,834$2,410,449▲ $50,615
Total Liabilities and Net Assets / Fund Balance$3,146,956$2,954,426▼ $192,530

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,509$515,406$526,915
Leasehold Improvements$0$22,136$22,136
Other Securities$287,162--
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeOtherTotal
-President and CEOFT$132,622$132,622

Board Members and Trustees

NameTitle
-Chair
-Interim President/CEO
-Vice Chair
-Director
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$579,604
Program Service Revenue
$2,801,075
Investment Income
$5,643
Other Revenue
$142
All Other Contributions
$464,877
Change in Net Assets
$45,616

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,386,464
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$121,357
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$3,507,821
Total Revenue per Form 990
$3,386,464
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,639,632
Salaries, Compensation, and Employee Benefits$1,498,343
Total Fundraising Expense$270,758
Grants and Similar Amounts Paid$202,873
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$685,762$217,512$101,573$1,004,847
Current Officers, Directors, Trustees, and Key Employees$73,461$74,818$73,489$221,768
Grants to Domestic Orgs$202,873--$202,873
Other Employee Benefits$97,280$41,109$3,694$142,083
Information Technology$65,525$21,739$27,440$114,704
Fees for Services Other$17,996$67,428$17,015$102,439
Occupancy$65,803$19,892$8,518$94,213
Payroll Taxes$55,233$20,830$12,116$88,179
Office Expenses$63,700$5,241$12,443$81,384
Pension Plan Contributions$27,033$10,631$3,802$41,466
Fees for Services Management-$36,000-$36,000
Travel$25,208$1,310$6,894$33,412
Fees for Services Accounting-$31,975-$31,975
Insurance-$23,077-$23,077
Other Expenses$13,247-$105$13,247
Conferences and Meetings$8,269$1,351$585$10,205
Depreciation Depletion$5,866$1,377$590$7,833
All Other Expenses$5,665$703$893$7,261
Advertising$2,282-$1,601$3,883
Total Functional Expenses$2,495,097$574,993$270,758$3,340,848

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,457,212
Expenses per Audited Statements$3,340,848
Total Expenses per Form 990$3,340,848
Expenses Not Reported on Form 990$116,364
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Baltimore City Public SchoolsBaltimore, MDPub Agency/Gov'tImplementation funding for program related costs and support$4,494
Baldwin Park Unified School DistrictBaldwin Park, CAPub Agency/Gov'tImplementation funding for program related costs and support$2,150
Alum Rock Union Elementary School DistrictSan Jose, CAPub Agency/Gov'tImplementation funding for program related costs and support$650
Corning Union Elementary School DistrictCorning, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Fremont Unified School DistrictFremont, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Hawaii LiteracyHonolulu, HI501(c)(3)Implementation funding for program related costs and support-
Hemet Unified School DistrictHemet, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Mountain View School DistrictEl Monte, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Oakland Unified School DistrictOakland, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Ocean View School DistrictOxnard, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Oceanside Unified School DistrictOceanside, CAPub Agency/Gov'tImplementation funding for program related costs and support-
Oklahoma City Public SchoolsOklahoma City, OKPub Agency/Gov'tImplementation funding for program related costs and support-
THINK Together Early Literacy ProgramSanta Ana, CA501(c)(3)Implementation funding for program related costs and support-
UniFirst CorporationWilmington, MA501(c)(3)Implementation funding for program related costs and support-
United Way of Essex and West HudsonNewark, NJ501(c)(3)Implementation funding for program related costs and support-
YMCA of Greater Kansas CityKansas City, MO-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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Related Party Payables$330,708
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
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

“Erica Wood, Michelle Torgerson, & Emmett Carson - Business relationship”

Form 990, Part VI, Line 3 Delegation of management duties

“Human Resources and certain financial functions are managed by Silicon Valley Community Foundation at an annual rate of $36,000.”

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, an interested person must disclose to the governing board on an annual basis through the "990 and Conflict of Interest" questionnaire and upon discovery of a potential conflict within 30 days. Via the questionnaires, provided by the Executive Vice President of Finance and Operations, the interested person must disclose a list of offices and directorships he or she holds in charitable and business organizations and to identify his or her place of employment or principal business activity as well as the organizations, corporations and other businesses with which each person and his or her spouse or other relative may be affiliated. 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

“In order to determine current year compensation for the organization's president, the organization researched compensation given by other foundations of a similar size. This evaluation was done by the human resources department of svcf, a group independent of raising a reader (rar). The contemporaneous substantiation of the evaluation was then communicated to the board. This process was last performed in june 2018.”

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 in the office or through an email upon request. The conflict of interest policy is not made made available to the public.”

Filing and Contact Details

Filer

Filer Name
Raising A Reader
EIN
94-3390149
Phone
6504890550
Address
330 Twin Dolphin Drive No 147, Redwood City, CA 94065

Signing Officer

Name
Michelle Torgerson
Title
President
Signed
2019-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
1999
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
8
Employees
0
Volunteers
100

Preparer

Firm
Crowe Llp
Address
575 Market Street Suite 3300, San Francisco, CA 94105-5829
Preparer
Nicole Bencik
Phone
4155761100
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

“Net change in beneficial interest - 4993;”

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 2(D) Other revenues in audited financial statements not in form 990

“Scholastic In-Kind Write Off - 59500 Net change in beneficial interest - 4993”

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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt2Amanda Welsh
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt3John Baugh
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt4Erica Wood
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt5Allan Casalou
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt6Carol Emig
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt7Kirk Law
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt8Jamay Lee
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt9Emmett Carson Left June 2018
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt10Michelle Torgerson
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IRS990/MissionDesc0Raising 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.
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0142083
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IRS990/OtherExpensesGrp/ProgramServicesAmt116867
IRS990/OtherExpensesGrp/ProgramServicesAmt234525
IRS990/OtherExpensesGrp/ProgramServicesAmt313247
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IRS990/OtherExpensesGrp/TotalAmt234525
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IRS990/PartialLiquidationInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt053776
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Michelle Torgerson
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,954,426
Liabilities
$543,977
Net assets
$2,410,449
Revenue
$3,386,464
Expenses
$3,340,848
Net income
$45,616
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