Well Read Mom INC

Tax-deductible

Ironton, MN501(c)(3)Since 2014ReligionEIN 46-4825932

Well-read mom accompanies women in the reading of great books and spiritual classics to encourage personal growth, friendship, and meaningful conversations in order to explore the human condition and reorient ourselves to what is good, beautiful, and true.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Run by 35 volunteers and 8 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $81K a year · 18% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$93K
to officers and key staff · 12% of spending
Top officer’s pay higher than 53% of similar orgs
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$611K
66% of total assets
Worth a look: liabilities are 66% of assets; over 65%.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$857K
+27% vs prior year
Spent
$803K
To programs
79%
Net assets
$322K
By yearFY2021–FY2024
Revenue
$857K
FY2024▲ +27%
Revenue by fiscal year
FY2021$204K
FY2022$335K
FY2023$549K
FY2024$676K
FY2024$857K
Expenses
$803K
FY2024▲ +34%
Expenses by fiscal year
FY2021$162K
FY2022$266K
FY2023$414K
FY2024$598K
FY2024$803K
Net assets
$322K
FY2024▲ +20%
Net assets by fiscal year
FY2021$97K
FY2022$166K
FY2023$301K
FY2024$267K
FY2024$322K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $634K Management & general 21% · $169K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

7 people listed on the 990; $93K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$51,891Pt VII · Sec A
$41,050Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Nicole Bugnacki’s $52K as Executive Di is at the 53rd percentile of top reported officer pay among 2133 $100K–1M religion 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 · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022
Nicole Bugnacki$51,891$46,836$32,903$25,006
Marcie Stokman$41,050$28,985$13,200—

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Guides women through great books and spiritual classics for personal growth and meaningful conversations.

Provided by the organization

This section is blank until Well Read Mom INC claims this page.

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1 program service account for $634K of program spending, described in the organization's own filed words · FY2024.
01

To suggest works of literature that encourage women to grow intellectually, spiritually, and personally through deepened thought and conversation. To foster meaningful friendship among women and thus to counteract the increasing isolation characteristic of our culture.

$634Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$857K
Ln 12
Gifts and grantsLn 1h$821K
Fees for servicesLn 2g$34K
Investment incomeLn 3$3K
Money outPt IX
$803K
Ln 25
Programscol B$634K
Managementcol C$169K
Owns and owesPt X
$322K
net assets · Ln 32
Cash and savingsLn 1–2$448K
Total assetsLn 16$933K
LiabilitiesLn 26$611K
PeoplePt VI, VII
7
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$821K
Fees for servicesLn 2g$34K
Investment incomeLn 3$3K
Total revenueLn 12$857K
Assets in detailPt X, end of year
CashLn 1$411K
SavingsLn 2$38K
Cash and savings togetherLn 1–2$448K
Land, buildings, equipmentLn 10c$464K
Total assetsLn 16$933K
LiabilitiesLn 26$611K
Net assetsLn 32$322K
OperationsPt I, VI
EmployeesI 58
VolunteersI 635
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$334K$448K
Land, buildings, equipmentLn 10c$444K$464K
Total assetsLn 16$795K$933K
LiabilitiesLn 26$528K$611K
Net assetsLn 32$267K$322K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$93K$56K$37K
Other salaries and wagesLn 7$111K$67K$45K
Payroll taxesLn 10$16K$10K$6K
Accounting feesLn 11c$15K$9K$6K
Advertising and promotionLn 12$11K$11K
Office expensesLn 13$100K$50K$50K
OccupancyLn 16$13K$8K$5K
InterestLn 20$16K$9K$6K
Depreciation, depletion and amortizationLn 22$9K$5K$4K
Other expenses (24a–d)Ln 24$418K$409K$10K
Total functional expensesLn 25$803K$634K$169K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $676K$598K$78K$267K 990 PDF
FY2023 $549K$414K$135K$301K 990 PDF
FY2022 $335K$266K$69K$166K 990 PDF
FY2021 $204K$162K$42K$97K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $857,299 across 7 lines filed
Lines not itemized here account for $856 of total revenue; see the IRS return.
VIII-1b Membership dues$763,508
VIII-1f All other contributions, gifts and grants$57,734
VIII-1h Total contributions, gifts and grants$821,242
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,565$33,565
VIII-3 Investment incomeExcluded from tax $2,664$2,664
VIII-6 Net rental income or lossRelated to mission −$1,028−$1,028
VIII-12 Total revenueRelated to mission $33,393 · Excluded from tax $2,664$857,299
Part IX · Statement of functional expenses $802,879 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $55,765 · Management $37,176$92,941
IX-7 Other salaries and wagesPrograms $66,792 · Management $44,528$111,320
IX-10 Payroll taxesPrograms $9,746 · Management $6,498$16,244
IX-11c Accounting feesPrograms $9,286 · Management $6,190$15,476
IX-12 Advertising and promotionPrograms $10,672$10,672
IX-13 Office expensesPrograms $50,121 · Management $50,120$100,241
IX-16 OccupancyPrograms $7,644 · Management $5,096$12,740
IX-20 InterestPrograms $9,449 · Management $6,299$15,748
IX-22 Depreciation, depletion and amortizationPrograms $5,400 · Management $3,600$9,000
IX-24 Other expenses (24a–d)Programs $408,664 · Management $9,833$418,497
IX-25 Total functional expensesPrograms $633,539 · Management $169,340 · Fundraising $0$802,879
Part X · Balance sheet $932,799 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $278,370$410,552
X-2 Savings and temporary cash investmentsStart of year $55,393$37,606
X-8 Inventories for sale or useStart of year $2,462$1,720
X-9 Prepaid expenses and deferred chargesStart of year $14,863$19,015
X-10c Land, buildings and equipment, netStart of year $444,231$463,906
X-16 Total assetsStart of year $795,319$932,799
X-17 Accounts payable and accrued expensesStart of year $58,470$56,619
X-19 Deferred revenueStart of year $217,370$314,029
X-26 Total liabilitiesStart of year $528,218$611,278
X-27 Net assets without donor restrictionsStart of year $267,101$321,521
X-32 Total net assets or fund balancesStart of year $267,101$321,521
X-33 Total liabilities and net assetsStart of year $795,319$932,799
Part XI · Reconciliation of net assets $321,521 net assets at year end
XI-1 Total revenue$857,299
XI-2 Total expenses$802,879
XI-3 Revenue less expenses$54,420
XI-4 Net assets at start of year$267,101
XI-10 Net assets at end of year$321,521

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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