MADISON READING PROJECT INC
Mission Statement
Madison Reading Project's mission is to deliver, at no charge, high quality multilingual literacy learning reinforcement programs and free books to underserved children throughout greater Dane County and South Eastern Wisconsin in an ongoing commitment to reversing low literacy rates, closing opportunity gaps, building family libraries, and inspiring literacy delight! Our programs engage children in differentiated literacy activities designed to create a love of learning and building and reinforcing age-appropriate skills needed to develop the young reader. Our staff and volunteers bring storytime, enrichment activities, story discussions and free books to kids/parents/care givers at family shelters, neighborhood centers, libraries, after-school child care programs, social services organizations and schools. Our literacy reinforcement programs align with those of local school districts to focus on improving reading skills—especially the skills of children of color-- by making reading in the home an exciting family-wide activity, by nurturing a love for books specifically designed to reach these children and their families.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
70.7% | 81.5% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
12.2% | 11.7% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
17.1% | 4.0% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
1849.5% | 151.9% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
8.8 mo | 11.3 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
17.3% | 9.1% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
98.9% | 89.1% |
P10P90
|
Bottom quarter |
|
Revenue growth
Year over year revenue growth
|
-5.6% | 9.0% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
21.4% | 10.0% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-34.0% | 1.7% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $958K | $1.3M | $946K | 70.7% | 18 |
| 2023 | $1.0M | $1.1M | $1.3M | 71.3% | 17 |
| 2022 | $1.4M | $707K | $1.3M | 70.2% | 16 |
| 2021 | $747K | $402K | N/A | — | 10 |
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