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 12/2022, Commonlit Inc employed 103 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 12/2022, Commonlit Inc generated $11.9m in total revenue. All expenses for the organization totaled $10.9m during the year ending 12/2022. While expenses have increased by 94.1% per year over the past 8 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
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michelle Brown CEO & President | OfficerTrustee | 40 | $241,782 |
John Coyne Director | Trustee | 2 | $0 |
Mary Grace Tighe Director | Trustee | 2 | $0 |
Sonal Tolman Director | Trustee | 2 | $0 |
Kodjo Wilder Director | Trustee | 2 | $0 |
Esther Wojcicki Director | Trustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Rubino And Company Inc Accounting Services | 12/30/22 | $162,906 |
Clever Inc Software Services Usage Subscription | 12/30/22 | $124,423 |
Heather Harris Technology Consultant | 12/30/22 | $111,263 |
Learnplatform Prepaid Replication Subscription Fee | 12/30/22 | $108,800 |
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 | $8,855,365 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $8,855,365 |
Total Program Service Revenue | $3,015,689 |
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 | $11,871,054 |
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. | $951,268 |
Compensation of current officers, directors, key employees. | $25,874 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,776,590 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $745,040 |
Payroll taxes | $301,398 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $173,697 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $699,788 |
Advertising and promotion | $68,711 |
Office expenses | $685,288 |
Information technology | $932,266 |
Royalties | $0 |
Occupancy | $293,271 |
Travel | $208,360 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $31,128 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $22,160 |
All other expenses | $55,116 |
Total functional expenses | $10,944,081 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $7,146,079 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $3,502,363 |
Accounts receivable, net | $483,588 |
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 | $265,568 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $24,244 |
Other assets | $23,338 |
Total assets | $11,445,180 |
Accounts payable and accrued expenses | $434,155 |
Grants payable | $0 |
Deferred revenue | $3,189,462 |
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 | $25,613 |
Total liabilities | $3,649,230 |
Net assets without donor restrictions | $2,360,231 |
Net assets with donor restrictions | $5,435,719 |
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 | $11,445,180 |