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Nonprofiteer
← THE SOURCE FOR LEARNING INC

Form 990 for tax year 2022

Filed by THE SOURCE FOR LEARNING INC.

Totals

Total revenue
$8,026,448
Total expenses
$5,019,390
Contributions and grants received
$1,233,493
Grants paid
$0
Program service revenue
$0
Investment income
$1,252,505
Other revenue
$5,540,450
Total assets, end of year
$69,394,008
Total liabilities, end of year
$1,372,575
Net assets or fund balances, end of year
$68,021,433
Program services expenses (Part IX)
$3,999,802
Management and general expenses
$946,505
Fundraising expenses
$73,083
Program service expenses (Part III)
$3,999,802

Program services were 79.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $754,009

  • 1f · All other contributions, gifts and grants

    $479,484

  • 1g · Noncash contributions included above

    $130,429

  • 3 · Investment income

    total $1,245,471 · excluded $1,245,471

  • 5 · Royalties

    total $5,505,629 · excluded $5,505,629

  • 7a · Gross sales of assets other than inventory

    securities $3,136,095

  • 7b · Less cost or other basis and sales expenses

    securities $3,129,061

  • 7c · Gain or loss

    securities $7,034

  • 7d · Net gain or loss

    total $7,034 · excluded $7,034

  • 11a · Other revenue: OTHER INCOME

    total $34,821 · related or exempt $34,821

  • 11e · Other revenue, total

    $34,821

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $463,733 · program services $341,159 · management and general $112,913 · fundraising $9,661

  • 7 · Other salaries and wages

    total $1,464,074 · program services $1,077,091 · management and general $356,482 · fundraising $30,501

  • 8 · Pension plan contributions

    total $101,655 · program services $74,785 · management and general $24,752 · fundraising $2,118

  • 9 · Other employee benefits

    total $237,763 · program services $174,918 · management and general $57,891 · fundraising $4,954

  • 10 · Payroll taxes

    total $141,853 · program services $104,358 · management and general $34,540 · fundraising $2,955

  • 11b · Fees: legal

    total $73,651 · program services $73,651

  • 11c · Fees: accounting

    total $65,350 · management and general $65,350

  • 11g · Fees: other

    total $508,480 · program services $508,480

  • 12 · Advertising and promotion

    total $336,798 · program services $336,798

  • 13 · Office expenses

    total $181,540 · program services $165,091 · management and general $15,154 · fundraising $1,295

  • 14 · Information technology

    total $407,196 · program services $390,812 · management and general $15,093 · fundraising $1,291

  • 16 · Occupancy

    total $236,173 · program services $173,748 · management and general $57,505 · fundraising $4,920

  • 17 · Travel

    total $42,918 · program services $22,265 · management and general $20,653

  • 22 · Depreciation, depletion and amortization

    total $705,870 · program services $519,294 · management and general $171,870 · fundraising $14,706

  • 23 · Insurance

    total $10,800 · program services $7,945 · management and general $2,630 · fundraising $225

  • 24a · Other expenses: MISCELLANEOUS

    total $23,873 · program services $12,897 · management and general $10,610 · fundraising $366

  • 24b · Other expenses: DUES AND SUBSCRIPTION

    total $15,949 · program services $15,249 · management and general $645 · fundraising $55

  • 24c · Other expenses: OTHER TAXES

    total $1,714 · program services $1,261 · management and general $417 · fundraising $36

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $514

  • 2 · Savings and temporary cash investments

    beginning of year $676,938 · end of year $1,553,779

  • 4 · Accounts receivable

    beginning of year $31,349 · end of year $37,864

  • 8 · Inventories for sale or use

    beginning of year $114,566 · end of year $130,429

  • 9 · Prepaid expenses and deferred charges

    beginning of year $33,637 · end of year $71,052

  • 10a · Land, buildings and equipment: cost or other basis

    $2,676,988

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,524,170

  • 10c · Land, buildings and equipment, net

    beginning of year $1,440,651 · end of year $152,818

  • 11 · Investments: publicly traded securities

    beginning of year $59,134,899 · end of year $50,685,263

  • 15 · Other assets

    beginning of year $15,683,635 · end of year $16,762,803

  • 17 · Accounts payable and accrued expenses

    beginning of year $111,033 · end of year $203,913

  • 19 · Deferred revenue

    beginning of year $1,130,193 · end of year $1,162,975

  • 25 · Other liabilities

    beginning of year $34,998 · end of year $5,687

  • 27 · Net assets without donor restrictions

    beginning of year $75,839,965 · end of year $68,021,433

Mission and programs · 2022

Mission

TO PROVIDE HIGH-QUALITY, TECHNOLOGY-BASED CONTENT AND SERVICES THAT ENHANCE LEARNING FOR ALL CHILDREN, AND TO EMPOWER TEACHERS, CHILD CARE PROVIDERS, AND PARENTS TO SUPPORT THAT LEARNING. AN IMPORTANT PART OF THE MISSION IS TO INCREASE ACCESS TO OUR SERVICES TO UNDERSERVED CHILDREN AND ADULTS.

Activities or mission (Part I)

TO PROVIDE HIGH-QUALITY, TECHNOLOGY-BASED CONTENT AND SERVICES THAT ENHANCE LEARNING FOR ALL CHILDREN, AND TO EMPOWER TEACHERS, CHILD CARE PROVIDERS, AND PARENTS TO SUPPORT THAT LEARNING.

  • ON-LINE EDUCATIONAL ACTIVITIES: TEACHERSFIRST.COM IS A FREE WEBSITE CREATED FOR THE EASY ACCESS TO AND RETRIEVAL OF QUALITY K-12 EDUCATIONAL RESOURCES FOR USE IN CLASSROOMS AND FOR TEACHER PROFESSIONAL DEVELOPMENT. SFLECE.ORG IS A FREE WEBSITE PROVIDING EARLY CHILDHOOD EDUCATORS ACCESS TO PROFESSIONAL LEARNING CONTENT, INCLUDING AN ONLINE CREDENTIAL PROGRAM AND FREE PRACTIONER-FOCUSED WEBINARS.

    Expenses $3,497,430 · Revenue $34,821

  • SFL BROADBAND: A SERVICE PROVIDING TEACHERS, STAFF AND/OR STUDENTS WITH ACCESS TO FREE WIRELESS INTERNET DEVICES AND SERVICE.

    Expenses $426,408

  • ASSISTANCE TO AFFILIATES: PROFESSIONAL DEVELOPMENT, ROYALTY SHARING, GRANTS, AND EQUIPMENT TO SCHOOLS AND THEIR COMMUNITIES.

    Expenses $75,964

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lynn M Rejniak

    PRESIDENT/CEO

    Total calculated
    $328,325
    From this org
    $232,122
    From related orgs
    $0
    Other
    $96,203
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $32,122
    Other
    $0
    Deferred
    $61,000
    Nontaxable benefits
    $35,203
    Filer's total
    $328,325

  • Carlos A Gonzalez Esq

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Toni Cacace-Beshears

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Chuck Burbridge

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Marcia A Bexley

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Ann Davis PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Finch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Gregory C Hutchings Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Steven Gorski

    DIRECTOR

    Total calculated
    $135,408
    From this org
    $128,054
    From related orgs
    $0
    Other
    $7,354
    Hours/week
    40 + 3 related

  • David W Taylor EdD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bonita Hamilton PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William H Harris PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert P Taylor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • A Ruth Okoye

    DIRECTOR, K-12 INITIATIVES

    Total calculated
    $165,608
    From this org
    $144,016
    From related orgs
    $0
    Other
    $21,592
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $9,016
    Other
    $0
    Deferred
    $8,616
    Nontaxable benefits
    $12,976
    Filer's total
    $165,608

  • Kamna Seth

    DIRECTOR, EARLY CHILDHOOD

    Total calculated
    $175,035
    From this org
    $148,514
    From related orgs
    $0
    Other
    $26,521
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,000
    Bonus
    $5,514
    Other
    $0
    Deferred
    $9,048
    Nontaxable benefits
    $17,473
    Filer's total
    $175,035

  • Mary A Murphy

    DIRECTOR, ADMINISTRATION

    Total calculated
    $169,351
    From this org
    $135,615
    From related orgs
    $0
    Other
    $33,736
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,395
    Bonus
    $6,220
    Other
    $0
    Deferred
    $13,160
    Nontaxable benefits
    $20,576
    Filer's total
    $169,351

  • Bridget Anderson

    DIRECTOR, COMMUNITY BUSINE

    Total calculated
    $153,820
    From this org
    $126,310
    From related orgs
    $0
    Other
    $27,510
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,090
    Bonus
    $6,220
    Other
    $0
    Deferred
    $7,553
    Nontaxable benefits
    $19,957
    Filer's total
    $153,820

  • Jennifer Koshute

    SENIOR MANAGER, MARKETING

    Total calculated
    $149,919
    From this org
    $125,895
    From related orgs
    $0
    Other
    $24,024
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE BOARD AUTHORIZES THE PRESIDENT/CEO TO DETERMINE BONUSES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313189349310661

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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