My Own Book Fund Inc

Nonprofit profile at a glance

EIN
460799191
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2035868171
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$187,808
Expenses
$147,995
Assets
$869,530
Liabilities
$7,544

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

Leadership & pay

9 people listed

Executive titles in this filing

  • VINCENT BRANCATO (President)
  • JUDY PLESS (Vice President)

People named in this filing

  • VINCENT BRANCATO (President)
  • JUDY PLESS (Vice President)
  • KENNETH FREEMAN (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To enhance child literacy in disadvantaged communities by empowering third-grade children enrolled in title i New York city public schools to select, purchase, and read their very own books.

What it reported doing in 2024

Research consistently shows that students who read at or above grade level by the end of third grade have a greater chance of being productive and contributing to society. The mission of My Own Book Fund (MOBF) is to improve child literacy in disadvantaged communities by empowering third-grade children in Title I New York City public schools to select books to start or grow their own libraries. This initiative aims to ensure that each child has the opportunity to advance in reading at or beyond the third-grade level by the end of of the school year. While the success and reputation of MOBF are attributed to its founder Burt Freeman, and his family, the programs acceptance and achievement

Operating model

Revenue model
Donor-supported. 89% 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.

The verdict

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 73
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.5%; rating input score 79
  • Program expense ratio: 82.2%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 21.2%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 5.88; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -7.9% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 78.5% of revenue deployed · 82.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $122K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.