BBB Wise Giving Report for
Reading Is Fundamental

BBB Wise Giving Report issued July 2010
BBB Wise Giving Report expires July 2012


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


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Charity Contact Information

Name: Reading Is Fundamental
Address: 1255 23rd Street NW, Suite 300
  Washington, DC 20037
Phone: 202-536-3400
877-743-7323
Web Address: www.rif.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1973, District of Columbia
Affiliates: None
Stated Purpose: "to motivate young children to read by working with children, their parents, and community members to make reading a fun and beneficial part of everyday life."

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Evaluation Conclusions

               

Reading Is Fundamental (RIF) meets the 20 Standards for Charity Accountability.
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Programs

               

RIF aims to provide children with new, free books and literacy resources. Priority is placed on reaching low income children from birth to age 8, however, children of all ages are eligible to receive RIF services. RIF reports that there are 17,000 independently managed local RIF sites located in all 50 states, the District of Columbia, and three United States territories. RIF conducts training for parents, teachers, and education staff around the topic of increasing family literacy engagement and activities.

For the fiscal year ended September 30, 2009, RIF's program expenses were:

  
Books for ownership 22,670,773
Corporate projects 2,160,460
Literacy services 681,034
Other 188,853
Volunteer recognition 61,719
Total Program Expenses: $25,762,839
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Governance

               

Chief Executive : Carol H. Rasco, President & CEO
Compensation*:
 $249,364

Chair of the Board: John F. Remondi
Chair's Profession / Business Affiliation: Chief Financial Officer, Sallie Mae, Inc.

Board Size: 24

Paid Staff Size: 76

*October 1, 2008 - September 30, 2009 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, special events, grant proposals, Internet appeals, planned giving, and cause-related marketing
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $35,045,721, 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 RIF's audited financial statements for the fiscal year ended September 30, 2009.

Source of Funds  
US Department of Education 23,856,902
Contributions 11,188,819
Royalties 38,382
Sale of program materials 25,529
Investment loss -63,693
Total Income $35,045,939


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Uses of Funds as a % of Total Expenses

Programs: 82%  Fund Raising: 5%  Administrative: 13% 

Total income   $35,045,939
  Program expenses $25,762,839
  Fund raising expenses 1,503,261
  Administrative expenses 4,116,196
 
Total expenses   $31,382,296
Income in Excess of Expenses   3,663,643
Beginning net assets   9,257,562
Ending net assets   12,921,205
Total liabilities   1,236,885
Total assets   $14,158,090

Note: RIF reports gifts of in-kind contributions of $949,460. This amount consists of marketing ($874,100) and legal services ($75,360).

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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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