Open Notebook INC EIN 45-2234167

Open Notebook INC FY2022 filing

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Provides educational resources to help journalists improve their skills. For fiscal year 2022 it reported $519K in revenue, $299K in expenses, and $494K in net assets.Pt I

Type
Public charity (501(c)(3)) · Health Care
Location
Madison, WI
Website
www.theopennotebook.com
Filings
5 on file (2020–2022)
Revenue
$519KFY2022
Expenses
$299K
Net assets
$494K
People
9
Filings
5
Updates
0
More identity details & actions ⌄
EIN  45-2234167 Public charity (501(c)(3)) Madison, WI
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Provides educational resources to help journalists improve their skills.
Leadership
Siri Carpenter · President & · $98K
Money in and out
$519K revenue, $299K expenses
Bottom line
86% program efficiency
Where the money goes · FY2022
Total revenue
$519K
Pt VIII · Ln 12
Total expenses
$299K
Pt IX · Ln 25
Net assets
$494K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $220K
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.12 Fundraising $0.02
Program efficiency
86%
of spending reaches programs
Operating runway
15.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+42%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$519K
FY2022▲ +73%
Expenses
$299K
FY2022▲ +36%
Total assets
$499K
FY2022▲ +82%
Total liabilities
$5K
FY2022
Total revenue
$519K
Pt VIII · Ln 12
Total expenses
$299K
Pt IX · Ln 25
Net assets
$494K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$220K
Total assetsPt X · Ln 16$499K
Program-expense ratioPt IX · col B86%
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 $256K of program spending, described in the organization's own filed words · FY2022.
01

Production of educational and training resources for journalists.

$256Kprogram 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
President &
$97,552Pt VII · Sec A
Vice Pres &
$1,500Pt VII · Sec A
$500Pt VII · Sec A
Director
$500Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$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$486K · 94%
Program service revenue$33K · 6%
Contributions & grants94%$486K
Program service revenue6%$33K
Investment income$559
Total revenueLn 12$519K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.12 Fundraising $0.02
Program services86%$256K
Management & general12%$35K
Fundraising2%$7K
Total functional expensesLn 25$299K

Balance Sheet

Part X · end of year
CashLn 1$395K
Total assetsLn 16$499K
Total liabilitiesLn 26$5K
Total net assetsLn 32$494K
Months of cash on handcomputed15.9

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $395K · Operating expenses/yr $299K
15.9 months
Where the money goes
Program services
Program services $256K · Total expenses $299K
86%
Management & General
Management & general $35K · Total expenses $299K
12%
Fundraising
Fundraising $7K · Total expenses $299K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $4K · Solicited contributions (3-yr avg) $338K
$0.01 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $486K · Total revenue $519K
94%
Government reliance
Government grants — · Total revenue $519K
Earned-income share
Program service revenue $33K · Total revenue $519K
6%
Investment reliance
Investment income $559 · Total revenue $519K
+0.1%
Program self-sufficiency
Program service revenue $33K · Total expenses $299K
11%
Growth & trend
Revenue growth (YoY)
This year $519K · Prior year $300K
+73%
Net-asset trend (YoY)
End of year $494K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $519K · Expenses $299K
+42%
Liabilities-to-Assets
Total liabilities — · Total assets $499K
Net-asset ratio
Net assets $494K · Total assets $499K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $499K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Siri Carpenter · Reported title PRESIDENT & · Highest reported compensation $98K · Total expenses $299K
33%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $83K · Total expenses $299K
28%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 12%
Fundraising cost ratio 1%
Revenue growth 73%
Legal fee ratio 0.3%
Accounting fee ratio 2%

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 · ⤓ 990 PDF
FY2023$463K revenue · ⤓ 990 PDF
FY2022$519K revenue · viewing · ⤓ 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) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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