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Nonprofit profile at a glance

EIN
475221625
IRS 990-EZ coverage
2020–2023
Forms available
Form 990-EZ 2023
Location
Minneapolis, MN, USA
Phone
6124662006
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$153,257
Expenses
$110,163
Assets
$51,405
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

6 people listed

People named in this filing

  • Hannah Serrano (Chair)
  • Jonathan Simon (Treasurer)
  • Lauren Beek (Secretary/ Admin Consultant)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Free books for low income children to build in-home libraries.

What it reported doing in 2023

SRN hosted free book fairs in 28 schools across Minneapolis, St. Paul and Brooklyn Center. At these fairs 4,400 students picked out 10 books each - totaling in 44,000 new books for summer reading in 2024. We also collected data from students this fall and learned the following. I also attached that data in table form if needed. 1. Kids who participate like reading more: More than half the kids who bought 10 new books liked reading more after participating in the program.2. More reading inspires kids to like reading even more: 86% of kids who read all 10 of their new, self-selected books ended up liking reading more than before they bought those books. Reading more inspires the vast majority of kids to like reading more.

Operating model

Revenue model
Donor-supported. 100% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 100
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.9%; rating input score 62
  • Program expense ratio: 86.1%; rating input score 86

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 28.1%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 9.6%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 25.4% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 46.2% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 61.9% of revenue deployed · 86.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $95K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2020 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.