Specialized Language Development Center INC EIN 38-2055709 Form 990 (PDF) Claim this org

Specialized Language Development Center INC FY2024 filing

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Empowering individuals with reading challenges and training educators to improve literacy skills. For fiscal year 2024 it reported $845K in revenue, $907K in expenses, and $72K in net assets.Pt I

Founded
1974
Type
Public charity (501(c)(3)) · Diseases & Disorders
Location
Kalamazoo, MI
Website
sldread.org
Filings
5 on file (2020–2024)
Revenue
$845KFY2024
Expenses
$907K
Net assets
$72K
People
16
Filings
5
Updates
0
More identity details & actions ⌄
EIN  38-2055709 Public charity (501(c)(3)) Kalamazoo, MI Founded 1974
Form 990 (PDF)
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Size
$100K–1M
What they do
Empowering individuals with reading challenges and training educators to improve literacy skills.
Leadership
Kristen Potts · CEO · $92K
Money in and out
$845K revenue, $907K expenses
Bottom line
66% program efficiency
Where the money goes · FY2024
Total revenue
$845K
Pt VIII · Ln 12
Total expenses
$907K
Pt IX · Ln 25
Net assets
$72K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$62K
Where spending went · Part IX cols B–D
Program services $0.66 Management & general $0.23 Fundraising $0.11
Program efficiency
66%
of spending reaches programs
Operating runway
1.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
-7%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$845K
FY2024▲ +16%
Expenses
$907K
FY2024▼ -10%
Total assets
$303K
FY2024▼ -19%
Total liabilities
$231K
FY2024▼ -4%
Total revenue
$845K
Pt VIII · Ln 12
Total expenses
$907K
Pt IX · Ln 25
Net assets
$72K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$62K
Total assetsPt X · Ln 16$303K
Program-expense ratioPt IX · col B66%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSpecialized Language Development Center INC
EINHdr · item D38-2055709
Principal addressHdr · item CKalamazoo, MI
WebsiteHdr · item Jsldread.org
Year of formationHdr · item L1974
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFDiseases & Disorders (G86Z)
Ruling yearIRS BMFFeb 1975

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$91,649Pt VII · Sec A
$67,616Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A

Kristen Potts’s $90K as CEO is at the 72nd percentile of top reported officer pay among 901 $100K–1M diseases & disorders nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Kristen Potts$90,247$91,649$90,000
Mindi Fitzpatrick$30,276$67,616$70,000$54,140$48,126$46,725
Carol McGlinn$51,333$45,828$48,621
Kaylyne Eichler$42,175
Amy Walker$40,473

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $603K of program spending, described in the organization's own filed words · FY2023.
01

Professional Education & Training

Train & provide tutors for individuals experiencing dyslexia, a reading disability.

$603Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$471K · 56%
Program service revenue$374K · 44%
Contributions & grants56%$471K
Program service revenue44%$374K
Investment income$702
Total revenueLn 12$845K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.66 Management & general $0.23 Fundraising $0.11
Program services66%$603K
Management & general23%$205K
Fundraising11%$99K
Total functional expensesLn 25$907K

Balance Sheet

Part X · end of year
CashLn 1$119K
Total assetsLn 16$303K
Total liabilitiesLn 26$231K
Total net assetsLn 32$72K
Months of cash on handcomputed1.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $119K · Operating expenses/yr $907K
1.6 months
Where the money goes
Program services
Program services $603K · Total expenses $907K
66%
Management & General
Management & general $205K · Total expenses $907K
23%
Fundraising
Fundraising $99K · Total expenses $907K
11%
Cost to raise $1
Fundraising expense (3-yr avg) $83K · Solicited contributions (3-yr avg) $370K
$0.22 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $471K · Total revenue $845K
56%
Government reliance
Government grants — · Total revenue $845K
Earned-income share
Program service revenue $374K · Total revenue $845K
44%
Investment reliance
Investment income $702 · Total revenue $845K
+0.08%
Program self-sufficiency
Program service revenue $374K · Total expenses $907K
41%
Growth & trend
Revenue growth (YoY)
This year $845K · Prior year $726K
+16%
Revenue CAGR
FY2019 $759K · FY2023 $845K
+3%
Net-asset trend (YoY)
End of year $72K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $845K · Expenses $907K
-7%
Liabilities-to-Assets
Total liabilities — · Total assets $303K
Net-asset ratio
Net assets $72K · Total assets $303K
24%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $303K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kristen Potts · Reported title CEO · Highest reported compensation $92K · Total expenses $907K
10%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $673K · Total expenses $907K
74%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 66%
Overhead ratio 23%
Fundraising cost ratio 21%
Revenue growth 16%
Accounting fee ratio 0.9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 5 funders$150K
See all 5 funders →
Grants paid · 4 grants · $41K · 2019–2023
Unitemized GrantFY2023$6,014
Unitemized GrantFY2021$7,188
Unitemized GrantFY2020$18,825
Unitemized GrantFY2019$8,940

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$845K revenue · viewing · ⤓ 990 PDF
FY2023$726K revenue · ⤓ 990 PDF
FY2022$736K revenue · ⤓ 990 PDF
FY2021$1.0M revenue · ⤓ 990 PDF
FY2020$759K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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