Madison Reading Project Inc

Nonprofit profile at a glance

EIN
472077478
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2018, Form 990-N 2016
Location
Madison, WI, USA
Phone
6083477970
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$957,916
Expenses
$1,284,038
Assets
$1,143,460
Liabilities
$197,575

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • CORINDA RAINEY MOORE (BOARD PRESIDENT)
  • KENT LAWSON (BOARD VICE PRESIDENT)
  • SARAH BRENDEN (BOARD VICE PRESIDENT)
  • ROWAN CHILDS (CO-EXECUTIVE DIRECTOR)
  • DEIRDRE STEINMETZ (CO-EXECUTIVE DIRECTOR)

Highest reported compensation

  • ROWAN CHILDS (CO-EXECUTIVE DIRECTOR): $104,954 total reported compensation
  • DEIRDRE STEINMETZ (CO-EXECUTIVE DIRECTOR): $88,620 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization organizes literacy programs directed at vulnerable children that supplements school learning.

What it reported doing in 2024

The organization offers literacy programming which can include author readings, story time with the outreach director, literacy crafts and themed events for groups.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.1%; rating input score 95
  • Program expense ratio: 70.7%; rating input score 71
  • Fundraising efficiency: $4.32 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -34%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.89; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 31.6% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 26.9% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 33.7% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 95.1% of revenue deployed · 70.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $908K in reported program spending
  • Leadership: top reported pay $105K · 14 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.