Imagination Library of Colorado
Nonprofit profile at a glance
- EIN
- 854295349
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2021
- Location
- Denver, CO, USA
- Phone
- 7208197323
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Libraries
Reported finances
- Revenue
- $2,729,558
- Expenses
- $2,671,040
- Assets
- $821,951
- Liabilities
- $639,069
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- John Tate (President and CEO)
Highest reported compensation
- John Tate (President and CEO): $5,148 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
In partnership with Dolly Partons Imagination Library the Imagination Library of Colorado promotes early childhood literacy in Colorado by providing access to free high-quality age-appropriate books in the home to children ages 0-5. The organization gives all young children in Colorado the opportunity to receive books in the mail at no cost to families. Our vision is a Colorado in which all young children have books in their homes develop a love of reading and learning and begin kindergarten and elementary school prepared to succeed onward.
What it reported doing in 2024
The imagination library of Colorado ilco focuses its efforts on the promotion of early childhood literacy for the general public. Ilcos educational program of providing books to young children all across the state of Colorado increases kindergarten readiness and helps develop the character and capability of enrolled children prior to entering formal schooling through early exposure and access to high quality age-appropriate books intended to develop a foundation of basic literacy skills needed for reading and writing.
Operating model
- Revenue model
- Grant-funded. 64% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 94
- Transparency & Controls: 93
- Accountability: 74
- Sustainability: 34
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 94.4%; rating input score 94
- Program expense ratio: 96.5%; rating input score 96
- Fundraising efficiency: $87.36 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 3 of 8 controls in place; rating input score 38
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 2.1%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 0.31; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: 0.78; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 0.2%; rating input score 82; 82nd percentile among comparable filings
Growth
- Program expense growth: 53.3% per year; rating input score 100; 97th percentile among comparable filings
- Revenue growth: 60.9% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 55.8% per year; rating input score 100; 98th percentile among comparable filings
Details
- Where the money goes: 94.4% of revenue deployed · 96.5% of spending went to programs
- Governance: 11 of 11 board members independent · 3 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $2.6M in reported program spending
- Leadership: top reported pay $5K · 12 people listed
- Consistency: 42 of 42 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Accountability: Governance controls: 4 of 7 not reported.
- Moderate — Sustainability: Operating margin scored 42/100.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.