Better Business Bureau Report for
Reasoning Mind, Inc.

Better Business Bureau Report issued December 2013
Better Business Bureau Report expires December 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Reasoning Mind, Inc.
Address: 2000 Bering Dr., Suite 300
  Houston, TX 77057
Phone: 281-579-1110
Web Address: www.reasoningmind.org
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Better Business Bureau Comments

Year, State Incorporated: 2000, Texas
Affiliates: None
Stated Purpose: To provide a first-rate math education for every child. To achieve this, we offer an engaging online community that develops students' math knowledge and thinking skills, and we help schools and parents bring this to their children.

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Evaluation Conclusions

              

Reasoning Mind, Inc. meets the 20 Standards for Charity Accountability.
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Programs

              

Reasoning Mind, Inc. offers an Internet-based curriculum method combining automated computer-based tutoring, collaborative learning, and extensive use of online tutors. The Organization currently operates in 7 states and 304 schools. Currently, 63,670 students are in the program. To ensure these students were taught by knowledgeable teachers, the Organization offered 187 professional development workshops: 82 Qualification Courses, 27 Administrator Trainings, 54 Best-Practice Workshops, and 11 Curriculum Content Studies, and 13 Curriculum Pedagogy Workshops in 2013.

For the fiscal year ended August 31, 2013, Reasoning Mind, Inc.'s program expenses were:

  
Total Program Expenses: $
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Governance

              

Chief Executive : Alexander Khachatryan, President and CEO
Compensation*: 
$115,000

Chair of the Board: Ernest Cockrell
Chair's Profession / Business Affiliation: Chairman, Cockrell Interests, Inc.; Director and President, The Cockrell Foundation

Board Size: 21

Paid Staff Size: 138

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, invitations to fund raising events, grant proposals, internet
Fund raising costs were 2% of related contributions. (Related contributions, which totaled $6,988,205, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Reasoning Mind, Inc.'s audited financial statements for the fiscal year ended August 31, 2013.

Source of Funds  
Foundation grants 4,247,363
Program Fees, Net 4,184,420
Texas Education Agency Contact 2,250,000
Contributions 1,549,572
Special Events, Less Direct Donor Benefit of $47,880 1,191,270
Donated Services and Assets 59,013
Other Income 26,689
Interest Income 939
Net Assets Released from Restrictions
Total Income $13,509,266


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Uses of Funds as a % of Total Expenses

Programs: 84%  Fund Raising: 1%  Administrative: 15% 

Total income $13,509,266
Program expenses $9,813,531
Fund raising expenses 157,838
Administrative expenses 1,827,120
Total expenses $11,798,489
Income in Excess of Expenses 1,710,777
Beginning net assets 8,315,253
Ending net assets 10,026,030
Total liabilities 618,226
Total assets $10,639,256


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Complaints

              

The BBB has processed no customer complaints on this charity in its three year reporting period.

 

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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