Commonlit Inc
- Assets
- $8.4m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 66
- Location
- Washington, DC
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 46-4255260
Organization Overview
Commonlit Inc is located in Washington, DC. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Commonlit Inc employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonlit 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 12/2021, Commonlit Inc generated $9.2m in total revenue. All expenses for the organization totaled $7.1m during the year ending 12/2021. While expenses have increased by 100.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE HIGH-QUALITY LITERACY MATERIALS ACCESSIBLE TO TEACHERS AND THE GENERAL PUBLIC FOR THE ADVANCEMENT OF EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: DELIVERY OF HIGH-QUALITY, INSTRUCTIONAL MATERIAL TO SUPPORT LITERACY DEVELOPMENT FOR STUDENTS IN GRADES 3-12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Brown CEO & President | OfficerTrustee | 40 | $259,039 |
Geoffrey Harcourt Chief Technology Officer | Officer | 40 | $208,333 |
Robert Fleisher Chief Strategic Partnership Officer | 40 | $173,527 | |
Agnes Malatinszky Chief Operating Officer | Officer | 40 | $161,458 |
Aaron Jacobwitz Lead Software Engineer | 40 | $158,512 | |
Eliza Aierstuck Senior Software Engineer | 40 | $157,466 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bellwether Education Partners Strategic Planning | 12/30/21 | $122,336 |
Clever Inc Software Services Usage Subscription | 12/30/21 | $106,650 |
Rubino And Company Inc Accounting Services | 12/30/21 | $105,434 |
Kaggle Inc Readability Contest Assistance | 12/30/21 | $101,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,150,297 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,176,643 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,326,940 |
| Total Program Service Revenue | $1,819,614 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,155,362 |
| 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. | $791,196 |
| Compensation of current officers, directors, key employees. | $164,722 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,230,853 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $526,838 |
| Payroll taxes | $327,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,027 |
| Fees for services: Accounting | $134,657 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $466,568 |
| Advertising and promotion | $16,593 |
| Office expenses | $418,702 |
| Information technology | $565,104 |
| Royalties | $0 |
| Occupancy | $309,614 |
| Travel | $27,753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,096 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,128 |
| All other expenses | $0 |
| Total functional expenses | $7,084,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,099,428 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,035,000 |
| Accounts receivable, net | $111,500 |
| 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 | $141,285 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,338 |
| Total assets | $8,410,551 |
| Accounts payable and accrued expenses | $199,164 |
| Grants payable | $0 |
| Deferred revenue | $1,342,410 |
| 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 | $0 |
| Total liabilities | $1,541,574 |
| Net assets without donor restrictions | $5,451,460 |
| Net assets with donor restrictions | $1,417,517 |
| 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 | $8,410,551 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Commonlit Inc has recieved totaling $4,115,004.
| Awarding Organization | Amount |
|---|---|
Tenacre Foundation Princeton, NJ PURPOSE: GENERAL SUPPORT | $1,500,000 |
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $735,000 |
Clark Charitable Foundation Inc Bethesda, MD PURPOSE: GENERAL OPERATING SUPPORT OF EDUCATION PROGRAMS | $500,000 |
The Jenesis Group Irving, TX PURPOSE: GENERAL OPERATING EXPENSE | $500,000 |
Louis Calder Foundation Denver, CO PURPOSE: CURRICULUM | $300,000 |
William & Flora Hewlett Foundation Menlo Park, CA PURPOSE: FOR GENERAL OPERATING SUPPORT | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association For Clinical Chemistry Inc Washington, DC | $31,632,986 | $18,150,460 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Aids United Washington, DC | $16,240,693 | $19,019,266 |
Media Matters For America Washington, DC | $25,734,430 | $18,794,929 |
Appletree Institute For Education Innovation Inc Washington, DC | $11,136,365 | $16,950,350 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Association Of Schools And Programs Of Public Health Inc Washington, DC | $11,824,583 | $12,542,035 |
Strategic Capacity Group Inc Mclean, VA | $1,824,045 | $10,738,430 |
The Management Center Washington, DC | $13,203,217 | $17,392,064 |
Association Of American Universities Washington, DC | $12,330,287 | $10,421,026 |
Csdc Property Corporation Hanover, MD | $98,381,398 | $10,915,076 |
Global Entrepreneurship Network Inc Arlington, VA | $6,928,946 | $10,036,868 |