The Rabbit Hole Kc

Tax-deductible

N Kansas City, MO501(c)(3)Since 2015Arts & CultureEIN 47-2324303

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To create a living culture around literature that will nourish, empower, and inspire the reading lives of children and adults. We house a museum, printshop and bindery, bookstore, story and writing labs, a resource library and theater space in our new facility.

501(c)(3) charity; gifts are tax-deductible.
53¢ of each $1 spent went to programs.
Run by 20 volunteers and 59 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $466K a year · 16% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
53%
of spending
Worth a look: 53% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$199K
to officers and key staff · 5% of spending
Top officer’s pay lower than 68% of similar orgs
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $6K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.2M
29% of total assets
Looks good: liabilities are 29% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.0M
-2% vs prior year
Spent
$4.1M
To programs
53%
Net assets
$10.1M
By yearFY2020–FY2025
Revenue
$4.0M
FY2025▼ -2%
Revenue by fiscal year
FY2020$1.3M
FY2021$1.9M
FY2022$4.7M
FY2023$1.9M
FY2024$4.1M
FY2025$4.0M
Expenses
$4.1M
FY2025▲ +1%
Expenses by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$1.9M
FY2023$2.7M
FY2024$4.1M
FY2025$4.1M
Net assets
$10.1M
FY2025▼ -0.7%
Net assets by fiscal year
FY2020$7.5M
FY2021$8.2M
FY2022$10.9M
FY2023$10.1M
FY2024$10.2M
FY2025$10.1M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2015.

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

Where the money goes

53 cents of each dollar spent went to programs.

Program services 53% · $2.2M Management & general 24% · $1.0M Fundraising 23% · $933K

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; $199K paid to officers and key staff.

Part VII, Section A · reportable compensation
Co-Executive Director
$99,327Pt VII · Sec A
Co-Executive Director
$99,327Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Peter Cowdin’s $99K as Co-Executive Director is at the 32nd percentile of top reported officer pay among 3924 $1–10M arts & culture 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Peter Cowdin$99,327$90,000$69,902$64,808$56,141$55,000
Deborah Pettid$99,327$93,173$69,902$64,808$56,141$55,000

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 15aNo

Programs and updates

Nourish, empower, and inspire reading lives through a literary museum, labs, and theater.

Provided by the organization

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1 program · $2.2M · in their own filed words · FY2025
01

To create a living culture around literature, accessible to all, that will nourish, empower, and inspire the reading lives of children and adults. The rabbit hole is home to a new museum experience where childrens books come to life, and visitors become explorers in a multi-sensory narrative landscape filled with radically immersive…

$2.2Mprogram 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$6K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$4.0M
Ln 12
Fees for servicesLn 2g$2.1M
Gifts and grantsLn 1h$1.6M
Other incomeLn 4–11$397K
Money outPt IX
$4.1M
Ln 25
Programscol B$2.2M
Managementcol C$1.0M
Fundraisingcol D$933K
Owns and owesPt X
$10.1M
net assets · Ln 32
Cash and savingsLn 1–2$902K
Total assetsLn 16$14.3M
LiabilitiesLn 26$4.2M
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$2K
Other incomeLn 4–11$397K
Total revenueLn 12$4.0M
Assets in detailPt X, end of year
CashLn 1$595K
SavingsLn 2$307K
Cash and savings togetherLn 1–2$902K
Land, buildings, equipmentLn 10c$13.3M
Total assetsLn 16$14.3M
LiabilitiesLn 26$4.2M
Net assetsLn 32$10.1M
OperationsPt I, VI
EmployeesI 559
VolunteersI 620
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 FY25End FY25
Cash and savingsLn 1–2$440K$902K
Land, buildings, equipmentLn 10c$13.6M$13.3M
Total assetsLn 16$14.1M$14.3M
LiabilitiesLn 26$3.9M$4.2M
Net assetsLn 32$10.2M$10.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.9M$761K$571K$571K
Other employee benefitsLn 9$151K$61K$45K$45K
Payroll taxesLn 10$149K$60K$45K$45K
Legal feesLn 11b$31K$22K$9K
Accounting feesLn 11c$56K$36K$17K$3K
Advertising and promotionLn 12$77K$311$77K
Office expensesLn 13$11K$5K$5K$2K
Information technologyLn 14$35K$28K$7K$479
OccupancyLn 16$147K$60K$44K$44K
TravelLn 17$3K$2K$784
Conferences, conventions and meetingsLn 19$22K$22K
InterestLn 20$262K$183K$39K$39K
Depreciation, depletion and amortizationLn 22$389K$273K$58K$58K
InsuranceLn 23$136K$79K$28K$28K
Other expenses (24a–d)Ln 24$524K$414K$91K$19K
All other expensesLn 24e$229K$206K$20K$2K
Total functional expensesLn 25$4.1M$2.2M$1.0M$933K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $4.0M$4.1M−$75K$10.1M 990 PDF
FY2024 $4.1M$4.1M$52K$10.2M 990 PDF
FY2023 $1.9M$2.7M−$765K$10.1M 990 PDF
FY2022 $4.7M$1.9M$2.7M$10.9M 990 PDF
FY2021 $1.9M$1.2M$671K$8.2M 990 PDF
FY2020 $1.3M$1.1M$181K$7.5M 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $4,048,726 across 7 lines filed
Lines not itemized here account for $396,603 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,552,259
VIII-1h Total contributions, gifts and grants$1,552,259
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,097,341$2,097,341
VIII-3 Investment incomeRelated to mission $2,421$2,421
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $102$102
VIII-12 Total revenueRelated to mission $2,496,467 · Unrelated business $0 · Excluded from tax $0$4,048,726
Part IX · Statement of functional expenses $4,123,809 across 16 lines filed
IX-7 Other salaries and wagesPrograms $760,674 · Management $570,505 · Fundraising $570,505$1,901,684
IX-9 Other employee benefitsPrograms $60,527 · Management $45,394 · Fundraising $45,394$151,315
IX-10 Payroll taxesPrograms $59,606 · Management $44,705 · Fundraising $44,705$149,016
IX-11b Legal feesPrograms $21,953 · Management $9,409$31,362
IX-11c Accounting feesPrograms $36,100 · Management $16,724 · Fundraising $2,924$55,748
IX-12 Advertising and promotionManagement $311 · Fundraising $76,867$77,178
IX-13 Office expensesPrograms $4,744 · Management $4,763 · Fundraising $1,588$11,095
IX-14 Information technologyPrograms $27,553 · Management $7,208 · Fundraising $479$35,240
IX-16 OccupancyPrograms $60,239 · Management $43,617 · Fundraising $43,617$147,473
IX-17 TravelPrograms $2,351 · Fundraising $784$3,135
IX-19 Conferences, conventions and meetingsManagement $21,596$21,596
IX-20 InterestPrograms $183,223 · Management $39,262 · Fundraising $39,262$261,747
IX-22 Depreciation, depletion and amortizationPrograms $272,542 · Management $58,402 · Fundraising $58,402$389,346
IX-23 InsurancePrograms $79,182 · Management $28,198 · Fundraising $28,198$135,578
IX-24 Other expenses (24a–d)Programs $414,184 · Management $90,930 · Fundraising $18,614$523,728
IX-24e All other expensesPrograms $206,457 · Management $20,224 · Fundraising $1,887$228,568
IX-25 Total functional expensesPrograms $2,189,335 · Management $1,001,248 · Fundraising $933,226$4,123,809
Part X · Balance sheet $14,274,673 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $197,874$595,243
X-2 Savings and temporary cash investmentsStart of year $242,049$306,632
X-3 Pledges and grants receivableStart of year $35,000$68,850
X-10c Land, buildings and equipment, netStart of year $13,644,110$13,303,948
X-16 Total assetsStart of year $14,119,033$14,274,673
X-17 Accounts payable and accrued expensesStart of year $98,331$194,648
X-26 Total liabilitiesStart of year $3,930,517$4,161,240
X-27 Net assets without donor restrictionsStart of year $10,101,036$10,064,867
X-28 Net assets with donor restrictionsStart of year $87,480$48,566
X-32 Total net assets or fund balancesStart of year $10,188,516$10,113,433
X-33 Total liabilities and net assetsStart of year $14,119,033$14,274,673
Part XI · Reconciliation of net assets $10,113,433 net assets at year end
XI-1 Total revenue$4,048,726
XI-2 Total expenses$4,123,809
XI-3 Revenue less expenses−$75,083
XI-4 Net assets at start of year$10,188,516
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,113,433

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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