Reading Power Inc
- Assets
- $984.2k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 23
- Location
- Lake Forest, IL
- Founding
- 10/2005
- Data as of
- 06/2022
- EIN
- 20-2916846
Organization Overview
Reading Power Inc is located in Lake Forest, IL. The organization was established in 2005. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2022, Reading Power Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reading Power Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Reading Power Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 15.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
READING POWER, INC IS A NOT FOR PROFIT LITERACY TUTORING PROGRAM SERVING LOW-ACHIEVING CHILDREN ATTENDING ELEMENTARY SCHOOLS. THEIR MISSION IS TO ACCELERATE CHILDREN'S LITERACY LEARNING AND TO DEVELOP IN THEM A LOVE OF READING AND WRITING. THIS GOAL IS ACCOMPLISHED THROUGH AN INDEPENDENT TUTORING PROGRAM WORKIN IN PARTNERSHIP WITH THE SCHOOLS. THE BELIEF IS THAT ALL CHILDREN DESERVE TO REACH THEIR ACADEMIC POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED A LITERACY TUTORING PROGRAM SERVING LOW ACHIEVING ELEMENTARY SCHOOL CHILDREN.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Bulzoni CEO | 40 | $122,750 | |
Kathy Mcfarland Chairman | OfficerTrustee | 0 | $91,667 |
Kristin Fine Director Of Programs | 40 | $72,750 | |
Marra Lochiatto Vice Chairman | OfficerTrustee | 0 | $0 |
Kathleen Cowie Secretary | OfficerTrustee | 0 | $0 |
James Young Treasurer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $856,062 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $856,062 |
| Total Program Service Revenue | $0 |
| Investment income | $828 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $178,680 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,035,570 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $287,167 |
| Compensation of current officers, directors, key employees. | $5,908 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $398,569 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,237 |
| Payroll taxes | $54,936 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,522 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $37,574 |
| Office expenses | $12,363 |
| Information technology | $14,768 |
| Royalties | $0 |
| Occupancy | $20,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,680 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,705 |
| Insurance | $7,421 |
| All other expenses | $16,907 |
| Total functional expenses | $1,024,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $946,682 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,700 |
| Net Land, buildings, and equipment | $35,813 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $984,195 |
| Accounts payable and accrued expenses | $12,692 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $40,880 |
| Total liabilities | $53,572 |
| Net assets without donor restrictions | $905,865 |
| Net assets with donor restrictions | $24,758 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $984,195 |
Grants Recieved
Over the last fiscal year, we have identified 33 grants that Reading Power Inc has recieved totaling $227,110.
| Awarding Organization | Amount |
|---|---|
Abbvie Foundation North Chicago, IL PURPOSE: GENERAL MISSION SUPPORT | $50,000 |
Hunter Family Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $30,000 |
Robin And Sandy Stuart Foundation Lake Forest, IL PURPOSE: GENERAL SUPPORT | $20,000 |
Circle Of Service Foundation Chicago, IL PURPOSE: EDUCATION | $20,000 |
Mesa Foundation Naples, FL PURPOSE: CHARITABLE SUPPORT | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $18,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Jag Inc Des Moines, IA | $8,216,251 | $8,843,429 |
Braven Incorporated Chicago, IL | $18,157,055 | $13,085,158 |
Gary Comer Youth Center Chicago, IL | $1,153,650 | $6,433,696 |
Boys And Girls Club Of Dane County Inc Madison, WI | $16,863,189 | $11,374,930 |
Life Promotions Inc Appleton, WI | $2,405,715 | $5,603,353 |
Bernies Book Bank Lake Bluff, IL | $3,547,957 | $4,899,035 |
Kingdom House St Louis, MO | $3,626,338 | $5,069,438 |
Gateway Woods Family Services Inc Leo, IN | $1,086,644 | $4,316,744 |
Fishers Soccer Club Inc Noblesville, IN | $3,814,503 | $3,510,504 |
Embarc Inc Chicago, IL | $4,540,107 | $3,839,352 |
A Million Stars Inc St Louis, MO | $6,740,657 | $2,484,208 |
Horizons For Youth Chicago, IL | $2,942,053 | $2,593,417 |