Steamboat Reading Inc

Nonprofit profile at a glance

EIN
832970520
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Steamboat Springs, CO, USA
Phone
9703677670
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Remedial Reading, Reading Encouragement

Official website

Reported finances

Revenue
$262,432
Expenses
$326,921
Assets
$262,618
Liabilities
$99,448

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

Leadership & pay

8 people listed

Executive titles in this filing

  • GLEN TRAYLOR (President)
  • LORYN DUKE (Vice President)

Highest reported compensation

  • KIM SCHULZ (Executive Dir.): $52,000 total reported compensation

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

Overview

Mission

Creating a community of support for struggling readers and their families through one-on-one tutoring, formal evaluations, advocacy, parent education, and dyslexia awareness.

What it reported doing in 2024

We met with clients one-on-one to provide instruction on foundational skills in reading, writing, and math. We administered formal learning evaluations and provided advocacy services. We hosted a parent advocacy workshop, films about dyslexia and adhd, beginning reading workshops, and support groups for parents.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 79% for direct work, and 21% for grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 94
  • Accountability: 79
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.6%; rating input score 83
  • Fundraising efficiency: $4.24 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

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: 100%; rating input score 100; 80th 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -24.6%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 15.9%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 23.3% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 20.6% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 45.1% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $270K in reported program spending
  • Leadership: top reported pay $52K · 8 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 19/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.