Madison Reading Project INC FY2020 filing

Tax-deductible

Madison, WI501(c)(3)Youth DevelopmentEIN 47-2077478Revenue $353K in FY2020

On file with the IRSmadisonreadingproject.com1337 Greenway Cross Ste 186, 53713-3219 · Madison, WITax-exempt since Dec 2014Publicly supported — 509(a)(2)

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The organization organizes literacy programs directed at vulnerable children that supplements school learning.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
$8K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
3 of 5
filings with a surplus
Average surplus $151K a year · 17% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$8K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $8K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$18K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$353K
Spent
$261K
To programs
64%
Net assets
$281K
By yearFY2020–FY2024
Revenue
$353K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$353K
FY2021$747K
FY2022$1.4M
FY2023$1.0M
FY2024$958K
Expenses
$261K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$261K
FY2021$402K
FY2022$707K
FY2023$1.1M
FY2024$1.3M
Net assets
$281K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$281K
FY2021$625K
FY2022$1.3M
FY2023$1.3M
FY2024$946K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2014.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $168K Management & general 14% · $35K Fundraising 22% · $57K

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

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Who runs it and what they're paid

11 people listed on the 990; $8K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$8,000Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board President
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Rowan Childs’s $101K as Co-Executive Director is at the 87th percentile of top reported officer pay among 1992 $100K–1M youth development 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

NameFY2024FY2023FY2022FY2021FY2020
Rowan Childs$100,514$92,000$57,467$17,000$8,000
Deirdre Steinmetz$84,400————

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Organizes literacy programs to supplement school learning for vulnerable children.

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Provided by the organization

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2 programs · $168K · in their own filed words · FY2020
01

The organization offers literacy programming which can include author readings, story time with the outreach director, literacy crafts and themed events for groups.

$90Kprogram expense
02

The organization offers books to many children through its partnerships with other nonprofits, social workers, schools, and shelters.

$78Kprogram expense

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 2 funders$8K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$353K
Ln 12
Gifts and grantsLn 1h$351K
Other incomeLn 4–11$2K
Investment incomeLn 3$331
Money outPt IX
$261K
Ln 25
Programscol B$168K
Managementcol C$35K
Fundraisingcol D$57K
Owns and owesPt X
$281K
net assets · Ln 32
Cash and savingsLn 1–2$256K
Total assetsLn 16$299K
LiabilitiesLn 26$18K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$351K
Government grantsLn 1e$11K
Fundraising eventsLn 1c$27K
Investment incomeLn 3$331
Other incomeLn 4–11$2K
Total revenueLn 12$353K
Assets in detailPt X, end of year
CashLn 1$256K
Cash and savings togetherLn 1–2$256K
Land, buildings, equipmentLn 10c$24K
Other assetsLn 15$2K
Total assetsLn 16$299K
LiabilitiesLn 26$18K
Net assetsLn 32$281K
OperationsPt I, VI
EmployeesI 510
VolunteersI 6204
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 FY20End FY20
Cash and savingsLn 1–2$135K$256K
Land, buildings, equipmentLn 10c$31K$24K
Total assetsLn 16$204K$299K
LiabilitiesLn 26$15K$18K
Net assetsLn 32$188K$281K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$8K$4K$4K
Other salaries and wagesLn 7$98K$64K$3K$32K
Payroll taxesLn 10$8K$5K$522$3K
Accounting feesLn 11c$14K$10K$4K
Other fees for servicesLn 11g$8K$8K$450
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$12K$6K$4K$2K
OccupancyLn 16$7K$4K$1K$2K
TravelLn 17$1K$773$302$72
InterestLn 20$4K$347$4K
Depreciation, depletion and amortizationLn 22$7K$7K
InsuranceLn 23$4K$4K$319$319
Other expenses (24a–d)Ln 24$82K$75K$798$7K
All other expensesLn 24e$2K$1K$33$919
Total functional expensesLn 25$261K$168K$35K$57K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $958K$1.3M−$326K$946K 990 PDF
FY2023 $1.0M$1.1M−$43K$1.3M 990 PDF
FY2022 $1.4M$707K$686K$1.3M 990 PDF
FY2021 $747K$402K$344K$625K 990 PDF
FY2020 Viewing $353K$261K$93K$281K 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 FY2020 990 (6 parts)
Part I · Summary $353,109 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $357,586$350,546
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $251$331
I-11 Other revenuePrior year $285$2,232
I-12 Total revenuePrior year $358,122$353,109
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $64,521$114,586
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $170,834$145,983
I-18 Total expensesPrior year $235,355$260,569
I-19 Revenue less expensesPrior year $122,767$92,540
Part VI · Governance 10 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $353,109 across 7 lines filed
Lines not itemized here account for −$1,361 of total revenue; see the IRS return.
VIII-1c Fundraising events$27,478
VIII-1e Government grants$10,900
VIII-1f All other contributions, gifts and grants$312,168
VIII-1h Total contributions, gifts and grants$350,546
VIII-3 Investment incomeExcluded from tax $331$331
VIII-8 Net income from fundraising eventsExcluded from tax $3,593$3,593
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,563$353,109
Part IX · Statement of functional expenses $260,569 across 14 lines filed
IX-5 Pay of current officers, directors and key staffManagement $4,000 · Fundraising $4,000$8,000
IX-7 Other salaries and wagesPrograms $64,025 · Management $2,827 · Fundraising $31,591$98,443
IX-10 Payroll taxesPrograms $4,898 · Management $522 · Fundraising $2,723$8,143
IX-11c Accounting feesManagement $9,967 · Fundraising $3,550$13,517
IX-11g Other fees for servicesManagement $7,800 · Fundraising $450$8,250
IX-12 Advertising and promotionFundraising $2,736$2,736
IX-13 Office expensesPrograms $6,415 · Management $4,001 · Fundraising $2,072$12,488
IX-16 OccupancyPrograms $4,000 · Management $1,000 · Fundraising $2,394$7,394
IX-17 TravelPrograms $773 · Management $302 · Fundraising $72$1,147
IX-20 InterestPrograms $347 · Management $3,712$4,059
IX-22 Depreciation, depletion and amortizationPrograms $7,215$7,215
IX-23 InsurancePrograms $3,856 · Management $319 · Fundraising $319$4,494
IX-24 Other expenses (24a–d)Programs $74,932 · Management $798 · Fundraising $6,578$82,308
IX-24e All other expensesPrograms $1,423 · Management $33 · Fundraising $919$2,375
IX-25 Total functional expensesPrograms $167,884 · Management $35,281 · Fundraising $57,404$260,569
Part X · Balance sheet $298,730 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $134,636$256,368
X-3 Pledges and grants receivableStart of year $35,398$15,000
X-9 Prepaid expenses and deferred chargesStart of year $2,217$1,634
X-10c Land, buildings and equipment, netStart of year $31,267$24,052
X-15 Other assetsStart of year $0$1,676
X-16 Total assetsStart of year $203,518$298,730
X-17 Accounts payable and accrued expensesStart of year $7,959$12,444
X-26 Total liabilitiesStart of year $15,263$17,935
X-27 Net assets without donor restrictionsStart of year $115,058$237,595
X-28 Net assets with donor restrictionsStart of year $73,197$43,200
X-32 Total net assets or fund balancesStart of year $188,255$280,795
X-33 Total liabilities and net assetsStart of year $203,518$298,730
Part XI · Reconciliation of net assets $280,795 net assets at year end
XI-1 Total revenue$353,109
XI-2 Total expenses$260,569
XI-3 Revenue less expenses$92,540
XI-4 Net assets at start of year$188,255
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$280,795

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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