Skip to content
Nonprofiteer
← THE SOURCE FOR LEARNING INC

Form 990 for tax year 2023

Filed by THE SOURCE FOR LEARNING INC.

Totals

Total revenue
$10,099,916
Total expenses
$4,707,420
Contributions and grants received
$1,680,857
Grants paid
$0
Program service revenue
$0
Investment income
$2,452,596
Other revenue
$5,966,463
Total assets, end of year
$80,467,494
Total liabilities, end of year
$2,536,164
Net assets or fund balances, end of year
$77,931,330
Program services expenses (Part IX)
$3,596,311
Management and general expenses
$1,065,372
Fundraising expenses
$45,737
Program service expenses (Part III)
$3,596,311

Program services were 76.4% 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

    $1,184,067

  • 1e · Government grants (contributions)

    $100,325

  • 1f · All other contributions, gifts and grants

    $396,465

  • 1g · Noncash contributions included above

    $1,130

  • 3 · Investment income

    total $1,827,712 · excluded $1,827,712

  • 5 · Royalties

    total $5,966,463 · excluded $5,966,463

  • 7a · Gross sales of assets other than inventory

    securities $14,372,460

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

    securities $13,747,576

  • 7c · Gain or loss

    securities $624,884

  • 7d · Net gain or loss

    total $624,884 · excluded $624,884

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $376,623 · program services $283,776 · management and general $86,939 · fundraising $5,908

  • 7 · Other salaries and wages

    total $1,615,122 · program services $1,216,952 · management and general $372,834 · fundraising $25,336

  • 8 · Pension plan contributions

    total $98,983 · program services $74,581 · management and general $22,849 · fundraising $1,553

  • 9 · Other employee benefits

    total $227,086 · program services $171,104 · management and general $52,420 · fundraising $3,562

  • 10 · Payroll taxes

    total $146,991 · program services $110,753 · management and general $33,932 · fundraising $2,306

  • 11b · Fees: legal

    total $73,146 · program services $73,146

  • 11c · Fees: accounting

    total $71,713 · management and general $71,713

  • 11g · Fees: other

    total $694,143 · program services $420,541 · management and general $273,602

  • 12 · Advertising and promotion

    total $399,524 · program services $399,524

  • 13 · Office expenses

    total $154,615 · program services $128,491 · management and general $24,463 · fundraising $1,661

  • 14 · Information technology

    total $494,307 · program services $478,136 · management and general $15,142 · fundraising $1,029

  • 16 · Occupancy

    total $194,332 · program services $146,425 · management and general $44,859 · fundraising $3,048

  • 17 · Travel

    total $67,989 · program services $21,011 · management and general $46,978

  • 22 · Depreciation, depletion and amortization

    total $11,683 · program services $8,803 · management and general $2,697 · fundraising $183

  • 23 · Insurance

    total $36,451 · program services $27,465 · management and general $8,414 · fundraising $572

  • 24a · Other expenses: MISCELLANEOUS

    total $33,607 · program services $25,322 · management and general $7,758 · fundraising $527

  • 24b · Other expenses: DUES AND SUBSCRIPTION

    total $9,502 · program services $9,073 · management and general $402 · fundraising $27

  • 24c · Other expenses: OTHER TAXES

    total $1,603 · program services $1,208 · management and general $370 · fundraising $25

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,553,779 · end of year $3,130,488

  • 4 · Accounts receivable

    beginning of year $37,864 · end of year $34,744

  • 8 · Inventories for sale or use

    beginning of year $130,429 · end of year $84,623

  • 9 · Prepaid expenses and deferred charges

    beginning of year $71,052 · end of year $35,214

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

    $2,764,140

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

    $2,459,882

  • 10c · Land, buildings and equipment, net

    beginning of year $152,818 · end of year $304,258

  • 11 · Investments: publicly traded securities

    beginning of year $50,685,263 · end of year $58,040,774

  • 15 · Other assets

    beginning of year $16,762,803 · end of year $18,837,393

  • 17 · Accounts payable and accrued expenses

    beginning of year $203,913 · end of year $198,511

  • 19 · Deferred revenue

    beginning of year $1,162,975 · end of year $813,295

  • 25 · Other liabilities

    beginning of year $5,687 · end of year $1,524,358

  • 27 · Net assets without donor restrictions

    beginning of year $68,021,433 · end of year $77,931,330

Mission and programs · 2023

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 $3,234,086

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

    Expenses $315,000

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

    Expenses $47,225

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ann Davis EdD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bonita Hamilton EdD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carlos A Gonzalez Esq

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Chuck Burbridge

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • David W Taylor EdD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Gregory C Hutchings Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lynn M Rejniak

    PRESIDENT/CEO

    Total calculated
    $376,623
    From this org
    $254,009
    From related orgs
    $0
    Other
    $122,614
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $230,000
    Bonus
    $24,009
    Other
    $0
    Deferred
    $66,000
    Nontaxable benefits
    $56,614
    Filer's total
    $376,623

  • Marcia A Bexley

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Robert Finch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Steven Gorski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    40 + 2 related

  • Toni Cacace-Beshears

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • William H Harris EdD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • A Ruth Okoye

    DIRECTOR, K-12 INITIATIVES

    Total calculated
    $171,295
    From this org
    $147,593
    From related orgs
    $0
    Other
    $23,702
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,000
    Bonus
    $8,593
    Other
    $0
    Deferred
    $9,593
    Nontaxable benefits
    $14,109
    Filer's total
    $171,295

  • Bridget Anderson

    DIRECTOR, COMMUNITY BUSINE

    Total calculated
    $159,780
    From this org
    $130,420
    From related orgs
    $0
    Other
    $29,360
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,000
    Bonus
    $6,420
    Other
    $0
    Deferred
    $8,477
    Nontaxable benefits
    $20,883
    Filer's total
    $159,780

  • Jennifer Koshute

    SENIOR MANAGER, MARKETING

    Total calculated
    $142,480
    From this org
    $125,920
    From related orgs
    $0
    Other
    $16,560
    Hours/week
    40

  • Kamna Seth

    DIRECTOR, EARLY CHILDHOOD

    Total calculated
    $183,326
    From this org
    $152,484
    From related orgs
    $0
    Other
    $30,842
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,300
    Bonus
    $5,184
    Other
    $0
    Deferred
    $9,311
    Nontaxable benefits
    $21,531
    Filer's total
    $183,326

  • Melissa Henning

    OFFICER

    Total calculated
    $129,655
    From this org
    $118,495
    From related orgs
    $0
    Other
    $11,160
    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
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423199349300242

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

The source document this was parsed from is served over the API, which is where bulk and document access live.