Great Books Foundation is located in Chicago, IL. The organization was established in 1948. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 06/2021, Great Books Foundation employed 26 individuals. This organization is the central organization for a national or regional group of organizations. Great Books Foundation 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 06/2021, Great Books Foundation generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $3.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.2%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE GREAT BOOKS FOUNDATION IS TO ADVANCE THE CRITICAL, REFLECTIVE THINKING, AND SOCIAL AND CIVIC ENGAGEMENT OF READERS OF ALL AGES THROUGH SHARED INQUIRY DISCUSSION OF WORKS AND IDEAS OF ENDURING VALUE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
K-12 PROGRAMS:IN KEEPING WITH THE FOUNDATION'S MISSION, THE GREAT BOOKS K-12 PROGRAM PROVIDES STRONG, INQUIRY-BASED LANGUAGE ARTS PROGRAMS FOR GRADES K-12 THAT IMPROVE STUDENTS' ACHIEVEMENT IN, AND COMMITMENT TO, READING COMPREHENSION, INCREASED LITERACY, CRITICAL THINKING, WRITING AND SPEAKING, CIVIL DISCOURSE, AND LISTENING. GREAT BOOKS PROGRAMS COMBINE CLASSROOM MATERIALS AND THE SHARED INQUIRY METHOD OF LEARNING TO PROVIDE THE ESSENTIAL ELEMENTS STUDENTS NEED TO MEET AND SURPASS THE GOALS OF THE COMMON CORE AND OTHER STATE STANDARDS FOR ENGLISH LANGUAGE ARTS.K-12 DIGITAL PROGRAMS: TO REMAIN RELEVANT AND SUCCESSFUL IN THE 21ST CENTURY, GREAT BOOKS CREATED A DIGITAL EXPERIENCE BY DEVELOPING DIGITAL PUBLICATIONS AND PRODUCTS TO IMPROVE ACCESS TO CONTENT. THIS INCLUDES GREAT BOOKS PLUS, A DIGITAL PLATFORM THAT OFFERS ELECTRONIC VERSIONS OF GREAT BOOKS ANTHOLOGIES. THIS DIGITAL EXPERIENCE UPDATES AND ENHANCES THE GREAT BOOKS LEARNING MODEL AND ALLOWS THE FOUNDATION TO REACH A WIDER, MORE DIVERSE AUDIENCE. AS WE CONTINUE TO ENHANCE OUR DIGITAL OUTPUT, THROUGH MUCH OF THE FIRST HALF OF CALENDAR 2021 OUR TEAM WORKED TO PREPARE THE LAUNCH OF JGB DIGITAL CLASSROOM, MOVING US FROM AN E-READER PLATFORM TO A MORE FULLY AGILE DIGITAL PLATFORM.WITH COVID-19-RELATED SCHOOL CLOSURES IN THE SPRING OF 2020, GREAT BOOKS CREATED THE JUNIOR GREAT BOOKS VIRTUAL ACADEMY IN RESPONSE TO HIGH DEMAND FOR ENGAGING ONLINE INSTRUCTION, TO HELP PREVENT K-8 STUDENTS FROM LOSING GAINS IN READING COMPREHENSION AND CRITICAL THINKING, AND TO PROVIDE MORE OPPORTUNITIES FOR STUDENTS TO COLLABORATE WITH THEIR PEERS. THE JUNIOR GREAT BOOKS VIRTUAL ACADEMY, LED BY EXPERIENCED GREAT BOOKS TRAINERS, COMBINES INTERACTIVE READING ACTIVITIES WITH STUDENT-CENTERED ONLINE DISCUSSIONS TO HELP STUDENTS DEVELOP IDEAS, USE AND EXPLAIN EVIDENCE, AND RESPOND CONSTRUCTIVELY TO THEIR PEERS.
PROFESSIONAL DEVELOPMENT:OVER THE PAST YEAR, THE FOUNDATION'S PROFESSIONAL DEVELOPMENT PROGRAM PROVIDED OVER 900 EDUCATORS WITH SPECIALIZED INSTRUCTION AND CLASSROOM ASSISTANCE IN THE SHARED INQUIRY METHOD OF LEARNING THROUGH READING AND DISCUSSION OF GREAT LITERATURE. THE FOUNDATION WORKED CLOSELY WITH SCHOOLS ACROSS THE COUNTRY TO BUILD TEACHERS' PROFICIENCY AND INTEGRATE INQUIRY-BASED LEARNING ACROSS THE CURRICULUM BY PROVIDING CUSTOMIZED DAYS OF ONLINE TRAINING, MODELING, COACHING, AND CONSULTATION. THE FOUNDATION OFFERS TEACHERS AND PARENTS ONLINE INSTRUCTION IN THE SHARED INQUIRY METHOD OF LEARNING THROUGH BLENDED ONLINE COURSES, VIDEO COACHING OR WEBINARS ON SPECIFIC SKILLS. THE FOUNDATION ALSO PRODUCES EDUCATIONAL AND INSTRUCTIONAL VIDEOS NECESSARY TO PRACTICE AND PROMOTE SHARED INQUIRY AND CREATED WEBINARS TO SUPPORT TEACHERS TEACHING JUNIOR GREAT BOOKS IN-PERSON, HYBRID, AND REMOTELY DURING THE PANDEMIC.THE JUNIOR GREAT BOOKS PROGRAM HAS BEEN RECOGNIZED BY THE NATIONAL STAFF DEVELOPMENT COUNCIL AS AN "EXEMPLARY PROGRAM" IN TEACHER PROFESSIONAL DEVELOPMENT. FEEDBACK FROM THOSE WHO HAVE PARTICIPATED IN THE FOUNDATION'S PROFESSIONAL LEARNING ACTIVITIES SUGGESTS THAT THE FOUNDATION PLAYED AN IMPORTANT PART IN CREATING AND SUSTAINING VIBRANT, RESPECTFUL LEARNING COMMUNITIES AND INCREASED LITERACY FOR ADULTS AND STUDENTS.
ADULT DISCUSSION GROUPS:THE ADULT EDUCATION DIVISION OF THE GREAT BOOKS FOUNDATION SHARES THE MISSION OF THE ORGANIZATION AS A WHOLE: TO HELP SUSTAIN AND STRENGTHEN OUR DEMOCRATIC SOCIETY BY PROVIDING OPPORTUNITIES FOR LEARNERS TO ENGAGE IN DISCUSSIONS OF WORKS AND IDEAS OF ENDURING VALUE AND TO DEVELOP THE HABITS OF MIND ESSENTIAL TO CIVIC PARTICIPATION AND PERSONAL FULFILLMENT. TO THIS END, THE FOUNDATION SUPPORTS A NETWORK OF BOOK GROUPS NATIONWIDE; CREATES SPECIAL INITIATIVES FOR OFTEN UNDER-SERVED SECTORS OF THE POPULATION, INCLUDING VETERANS OF THE ARMED FORCES; AND HOLDS PUBLIC EVENTS TO ENGAGE AUDIENCES IN THE DISCUSSION OF BOOKS AND IDEAS, INCLUDING ONLINE DISCUSSIONS FOR ADULTS HELD DURING THE PANDEMIC. THE FOUNDATION PARTNERS WITH OTHER CULTURAL ORGANIZATIONS TO BRING ITS WORK TO AS MANY PEOPLE AS POSSIBLE. TO ENABLE THESE VARIOUS PROGRAMS, THE ADULT DIVISION PUBLISHES BOOKS AND OTHER MATERIALS DESIGNED TO ASSIST IN THE PRACTICE OF SHARED INQUIRY, THE GREAT BOOKS FOUNDATION'S UNIQUE DISCUSSION METHOD. IN ANTICIPATION OF THE FOUNDATION'S 75TH ANNIVERSARY, WORK BEGAN ON A NEW PUBLICATION, CLASSIC READINGS FOR DISCUSSION, WHICH WAS RELEASED IN THE FOLLOWING FISCAL YEAR.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Valentina Texera Parissi President & CEO | OfficerTrustee | 35 | $105,457 |
Peter Walton Vice-President & CFO | OfficerTrustee | 35 | $83,688 |
Lindsey Ciochina Director | Trustee | 1 | $0 |
David Ward Director | Trustee | 1 | $0 |
James W Haugh Life Director | Trustee | 1 | $0 |
George Wu Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $846,426 |
All other contributions, gifts, grants, and similar amounts not included above | $200,726 |
Noncash contributions included in lines 1a–1f | $112,577 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,047,152 |
Total Program Service Revenue | $208,744 |
Investment income | $17,425 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $39,310 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $30,232 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $1,946,441 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,289,304 |
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. | $272,629 |
Compensation of current officers, directors, key employees. | $194,430 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,460,049 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $253,803 |
Payroll taxes | $120,228 |
Fees for services: Management | $0 |
Fees for services: Legal | $37,568 |
Fees for services: Accounting | $45,881 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $4,790 |
Fees for services: Other | $47,496 |
Advertising and promotion | $114,453 |
Office expenses | $148,456 |
Information technology | $24,552 |
Royalties | $0 |
Occupancy | $386,661 |
Travel | $6,572 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $6,310 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $12,966 |
Insurance | $36,452 |
All other expenses | $618 |
Total functional expenses | $3,006,600 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $422,122 |
Savings and temporary cash investments | $544,888 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $561,519 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $332,929 |
Prepaid expenses and deferred charges | $98,217 |
Net Land, buildings, and equipment | $46,249 |
Investments—publicly traded securities | $910,116 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $147,128 |
Total assets | $3,063,168 |
Accounts payable and accrued expenses | $884,955 |
Grants payable | $0 |
Deferred revenue | $132,979 |
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 | $712,796 |
Total liabilities | $1,730,730 |
Net assets without donor restrictions | $1,255,161 |
Net assets with donor restrictions | $77,277 |
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 | $3,063,168 |
Over the last fiscal year, we have identified 4 grants that Great Books Foundation has recieved totaling $5,134.
Awarding Organization | Amount |
---|---|
Columbia Pipeline Group Charitable Foundation Houston, TX PURPOSE: GREAT BOOKS FOUNDATION'S TRANSFORMYOU: A YOUTH LEADERSHIP ACADEMY INITIATIVE 2022 | $2,577 |
Lawlor Foundation Chicago, IL PURPOSE: GENERAL FUND | $2,000 |
Robert S And Marjorie Y Scott Foundation Corte Madera, CA PURPOSE: SUPPORT OF PROGRAM | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $57 |
Organization Name | Assets | Revenue |
---|---|---|
National Center For Families Learning Inc Louisville, KY | $16,159,024 | $7,570,588 |
Simon Youth Foundation Inc Indianapolis, IN | $13,534,989 | $1,991,502 |
Great Books Foundation Chicago, IL | $3,063,168 | $3,289,304 |
Turnk The Page Kc Inc Kansas City, MO | $555,932 | $3,146,244 |
La Crosse Medical Health Science Consortium Inc La Crosse, WI | $13,920,244 | $1,509,206 |
Wisconsin Literacy Inc Madison, WI | $355,424 | $1,313,626 |
Literacy Network Inc Madison, WI | $4,205,047 | $2,002,520 |
Ready Readers St Louis, MO | $1,581,585 | $1,585,720 |
School On Wheels Corp Indianapolis, IN | $2,488,592 | $1,690,910 |
Chicago Citywide Literacy Coalition Chicago, IL | $1,103,489 | $1,225,090 |
Carnegie Literacy Center Inc Lexington, KY | $1,003,564 | $1,222,449 |
Chicago Heightening Opportunity And Potential For Educational Success Chicago, IL | $1,173,887 | $1,219,506 |