Open Notebook INC EIN 45-2234167

Open Notebook INC

EIN  45-2234167 Public charity (501(c)(3)) Madison, WI
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Provides educational resources to help journalists improve their skills.
Leadership
Siri Carpenter · Executive Dir. · $126K
Money in and out
$491K revenue, $534K expenses
Bottom line
73% program efficiency

Provides educational resources to help journalists improve their skills. For fiscal year 2024 it reported $491K in revenue, $534K in expenses, and $443K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$491K
Pt VIII · Ln 12
Total expenses
$534K
Pt IX · Ln 25
Net assets
$443K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$43K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.24 Fundraising $0.03
Program efficiency
73%
of spending reaches programs▼ -12% vs prior filing year
Operating runway
8.8mo
months of highly liquid reserves at operating expense rate▼ -32% vs prior filing year
Surplus margin
-9%
revenue over expenses, this year▼ -589% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$491K
FY2024▲ +6%
Expenses
$534K
FY2024▲ +14%
Total assets
$450K
FY2024▼ -13%
Total liabilities
$8K
FY2024▼ -71%
Total revenue
$491K
Pt VIII · Ln 12
Total expenses
$534K
Pt IX · Ln 25
Net assets
$443K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$43K
Total assetsPt X · Ln 16$450K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $391K of program spending, described in the organization's own filed words · FY2024.
01

Production of educational and training resources for journalists.

$391Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COpen Notebook INC
EINHdr · item D45-2234167
Principal addressHdr · item CMadison, WI
WebsiteHdr · item Jwww.theopennotebook.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E03)
Ruling yearIRS BMFFeb 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b8
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$126,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A

Siri Carpenter’s $126K as Executive Dir. is at the 90th percentile of top reported officer pay among 1965 $100K–1M health care 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

NameFY2024FY2023FY2022FY2021FY2020
Siri Carpenter$126,000$121,750$70,100
Siri Carpenter$97,552$69,600
Jeanne Erdmann$1,500
Jane C Hu$500
Maria Paula Rubiano a$500

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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Statement of Revenue

Part VIII
Contributions & grants$440K · 90%
Program service revenue$39K · 8%
Investment income$9K · 2%
Other revenue$3K · 1%
Contributions & grants90%$440K
Program service revenue8%$39K
Investment income2%$9K
Other revenue1%$3K
Total revenueLn 12$491K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.24 Fundraising $0.03
Program services73%$391K
Management & general24%$127K
Fundraising3%$16K
Total functional expensesLn 25$534K

Balance Sheet

Part X · end of year
CashLn 1$393K
Total assetsLn 16$450K
Total liabilitiesLn 26$8K
Total net assetsLn 32$443K
Months of cash on handcomputed8.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $393K · Operating expenses/yr $534K
8.8 months
Where the money goes
Program services
Program services $391K · Total expenses $534K
73%
Management & General
Management & general $127K · Total expenses $534K
24%
Fundraising
Fundraising $16K · Total expenses $534K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $14K · Solicited contributions (3-yr avg) $442K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $440K · Total revenue $491K
90%
Government reliance
Government grants — · Total revenue $491K
Earned-income share
Program service revenue $39K · Total revenue $491K
8%
Investment reliance
Investment income $9K · Total revenue $491K
+2%
Program self-sufficiency
Program service revenue $39K · Total expenses $534K
7%
Growth & trend
Revenue growth (YoY)
This year $491K · Prior year $463K
+6%
Revenue CAGR
FY2020 $256K · FY2024 $491K
+18%
Net-asset trend (YoY)
End of year $443K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $491K · Expenses $534K
-9%
Liabilities-to-Assets
Total liabilities — · Total assets $450K
Net-asset ratio
Net assets $443K · Total assets $450K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $450K
0%
People & payroll
Highest Reported Total Compensation
Individual Siri Carpenter · Reported title Executive Dir. · Highest reported compensation $126K · Total expenses $534K
24%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $136K · Total expenses $534K
25%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 73%
Overhead ratio 24%
Fundraising cost ratio 4%
Revenue growth 6%
Investment management fee ratio 0%
Legal fee ratio 0.3%
Accounting fee ratio 3%
Fundraising fee ratio 0%

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$15K

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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 (Latest)$491K revenue · viewing · ⤓ 990 PDF
FY2023$463K revenue · ⤓ 990 PDF
FY2022$519K revenue · ⤓ 990 PDF
FY2021$300K revenue · ⤓ 990 PDF
FY2020$256K 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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