Open Books

Legal name: Open Books Ltd

Nonprofit profile at a glance

EIN
204830666
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Chicago, IL, US
Phone
312.475.1355
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$3,049,522
Expenses
$3,451,702
Assets
$3,555,051
Liabilities
$1,416,003

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JENNIFER STEELE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JENNIFER STEELE (EXECUTIVE DIRECTOR): $135,261 total reported compensation

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

Overview

Mission

We transform lives through reading, writing, and the power of used books.

What it reported doing in 2024

During the 2024-2025 academic year, open books served students through book access and reading support programs. Reading buddies focused on building fluency, student confidence, and reading level growth for early elementary school students at schools and afterschool programs in north lawndale. Open book's early literacy storytime partnered with various organizations to engage caregivers and families in fundamental literacy concepts they can practice at home. To better prepare children for kindergarten success, open books early childhood residency program brought instructors into home daycares. Families with children ages 0-5 participated in dolly parton's imagination library, a book access initiative aimed at increasing books in the home. We granted over 95,000 books through classroom book grants, whole school book grants, as well as our free children's book section at open books pilsen and open books north lawndale. In addition to open books's literacy programs, community events were a core part of our work with north lawndale reads. As part of north lawndale reads, open books maintained little free libraries and book nooks across north lawndale and surrounding communities, and provided free books and literacy activities at community events. In june 2025, open books launched open books mobile, a physical, on-the-go, free bookstore that brings high-quality books and literacy resources directly to communities on the south and west sides of chicago.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 97% 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: 89
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.5%; rating input score 84
  • Fundraising efficiency: $13.14 raised per $1 spent on fundraising; rating input score 47; 47th 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: -13.2%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 19.2% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • What they do: 8 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 84.5% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.9M in reported program spending
  • Leadership: top reported pay $135K · 17 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • High — Sustainability: Operating margin scored 10/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.