Reading Is Fundamental Inc

What it reported doing in 2024

Print programs: books for ownership is rif's flagship reading program where children choose new books and participate in reading activities with teachers, parents, volunteers, and community members. This program educates, builds community, and inspires children to make greater choices for themselves to choose learning, and to choose success in school and in life. Funded by a variety of individual donors, corporations, and foundation partners, and working through local community programs, rif distributes books to children that are free to the children and their families. This program gives children agency, allowing them to choose their own books from a wide range of titles appropriate to their reading level. The distributions, which occur throughout the year, also include parent and community engagement and provide an opportunity for the employees of funders to actively participate in the program. Focusing on access and choice, students in communities throughout the country participate in a books for ownership program selecting new, age-appropriate books to take home and own. The program's integrated approach to literacy provides supporting resources to teachers and families. By motivating children to read throughbook choice, engaging them in topics that appeal to them, and providing them with more opportunities to read, this program will enable children to become more proficient readers and, through reading, learn. These books are further supported through digital resources on rif's literacy central to ensure ongoing reading engagement.literacy kits are an innovative model for book distribution to support the books for ownership program and engage volunteers at a broader scale. Literacy kits provide students with critical access to books and reading resources and the opportunity to build their at-home libraries. The program empowers volunteers in local communities to assemble kits for each participating student that contain up to 3 books, literacy engagement activities, and other resources to create a joy of reading. The volunteers distribute the kits to students in under resourced communities through schools or school-adjacent organizations. The recipient organizations are encouraged to host book celebration events that incorporate family and community engagement, cultivating a culture of literacy. Funded by a variety of corporate and foundation partners, often as an employee engagement activity, and working with local community programs, rif coordinates the distribution of these pre-made kits to students that are free to them and their families. The books included in the kits are further supported through digital resources on rif's literacy central.rif continues to offer its read for success program, an innovative reading intervention addressing the literacy backslide that traditionally happens during the summer months. Read for success is centered around motivating children to read by providing access to high-quality classroom book collections, books for students to choose and own, enriching steam-themed classroom activities, professional development for teachers, and parent engagement resources. Tested over two years among 33,000 students from 16 states, rif's read for success program helped reverse the trend of summer learning loss for more than half the participating students. In addition, 57% of the students saw gains in reading proficiency when tested from spring to fall.

Financial Efficiency

• Mission deployment rate: 61.3%; rating input score 61
• Program expense ratio: 69.3%; rating input score 69
• Fundraising efficiency: $5.31 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 49.7%; rating input score 50; 11th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 16.1%; rating input score 78; 78th percentile among comparable filings
• Total-asset coverage ratio: 1.8; rating input score 58; 58th percentile among comparable filings
• Liabilities to assets ratio: 0.11; rating input score 72; 72nd percentile among comparable filings
• Officer compensation ratio: 10.5%; rating input score 18; 18th percentile among comparable filings

Growth

• Program expense growth: 4% per year; rating input score 100; 33rd percentile among comparable filings
• Revenue growth: -5.8% per year; rating input score 0; 2nd percentile among comparable filings
• Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings