the year in review

213 W. Institute Pl.
Suite 207
Chicago, IL
60610
905 W. 19th St.
Chicago, IL
60608
@openbooks
@openbookstore
@openbookspilsen
www.open-books.org
2013-14
THE YEAR IN REVIEW
“A book can have 560 pages,
but in only three pages
change the reader's life.”
- Emoke B'Racz
Book
Sales
Books
Given Away
Volunteer
Hours
Students
Served
Program
Hours
2013-14
$555,800
94,700
22,900
4,960
20,910
2012-13*
$782,600
28,600
19,400
4,920
19,095
2011
$423,000
4,630
19,600
3,850
13,117
2010
$309,000
7,800
16,000
2,800
9,980
2009
$81,000
2,900
8,033
1,460
8,600
2008
$23,000
3,588
1,050
3,660
2007
200
In 2012, Open Books changed its fiscal year from Jan-Dec to Jul-Jun.
The 2012-13 figures above are the total for the 18-month period
of Jan 2012-Jun 2013. Separated, they are:
Sales
Given Away
Jan-Jun 2012: $261,100
Jan-Jun 2012: 8,650
Jul 2012-Jun 2013: $521,500
Jul 2012-Jun 2013: 19,950
In many ways, 2013-14 was a year of great change at Open Books. We
opened our second-ever retail location (Pilsen), premiered a brand-new
program (Publishing Academy), and merged with another nonprofit
organization to expand our book grants (Book Worm Angels). In the
aftermath of a record-settingly brutal winter that closed schools and stores
citywide, we spurred ourselves into spring by bringing a signature
program (ReadThenWrite) to more schools than ever before and adding
new key members to our team.
As always, we heard heartbreaking and hilarious stories from thousands
of students who gave us the privilege of transforming them into new
authors. As always, it took hundreds of thousands of books to keep things
running. As always, everything we did was made possible by the love and
dedication of our unbelievable volunteers and supporters. And, as always,
we come to the task of composing our annual report knowing that there
is no way for it to do justice to everything that happened here this year.
It would take us 560,000 pages to achieve that end. But we hope that the
few that follow reflect how our lives changed this past year, and how we
shared that change with our city through reading, writing, and the
UNLIMITED power of used books.
Open Books cultivates the literacy skills
of thousands of children and youth each
year, from those who need intervention
to those who desire enrichment.
WE TRANSFORM STUDENTS’ ABILITIES WITH
AND ATTITUDES TOWARDS READING AND WRITING THROUGH:
Experienced educators who deliver innovative instruction
Passionate volunteers who serve as positive role models
and provide enthusiastic support
PROGRAMS
“When times were hard, you made it easier,” wrote ReadThenWrite student
Omphile F. this year. “Whether by example or inspiration, you were able to
bring forth the light in me. Thank you.” We were honored to accept her
thanks, which sums up so much of what our programs are about. From oneon-one reading with our Open Books Buddies and once-in-a-lifetime
moments with our Adventures in Creative Writing field trip classes all the way
through the intense work of memoir- and novel-writing with our
ReadThenWrite and Publishing Academy authors, we were inspired by more
stories, stamina, and shared light than ever.
Safe learning environments for practice, exploration,
and social-emotional growth
Access to high-quality books and tailored curricula
4,960 students
participated in
Through our instructional programs, students read
and discuss thought-provoking material, write prose
and poetry inspired by these texts and their lives, and
celebrate the publication of their completed work.
20,910 hours
of instructional programming
at Open Books this year.
OPEN BOOKS
BUDDIES
What:
Reading practice, games, and
book activities.
FIELD TRIPS
What:
Where: Open Books, River North.
When: Twice weekly during the school
year.
When: Weekday mornings year-round.
Who:
1st-3rd grade students, Open
Books staff, and volunteer Big
Buddies.
Plus:
Plus:
The Open Booksmobile visits
each Buddies site so that
students can choose a bag of
books to take home.
READTHEN
What:
Publishing workshops for teens
focusing on creation of polished
prose, memoirs, and poetry.
3rd-12th grade students, Open
Books staff, and volunteer
writing coaches.
Each student receives a blank
journal to keep, a copy of the
class’s anthology, a trip to the
Open Books store, and a coupon
to use for one free book there.
PUBLISHING
WRITE
BUDDIES
Creative nonfiction writing and
performance workshops
Where: Schools across Chicago.
Who:
OPEN BOOKS
ADVENTURES IN
CREATIVE WRITING
165
students
3,540
program hours
97%
of students had positive
feelings about reading with
their Buddies.
ACADEMY
What:
Intensive camp experience that
takes students from blank page
to finished — and published —
novel.
Where: Schools across Chicago.
Where: Open Books, River North.
When: Weekdays during the school year.
When: Weekdays during the summer.
Who:
Plus:
5th-12th grade students, Open
Books staff, and volunteer writing
coaches.
Each session culminates with a
gala Author Launch where
students toast their success,
receive copies of their anthology,
and become part of our history
forever.
Who:
7th-12th grade students, Open
Books staff, and volunteer writing
coaches / editors.
Plus:
Each session culminates with a
gala Author Launch where
students toast their success,
receive copies of their novels, and
become part of our history
forever.
PARTICIPATING IN THE BUDDIES PROGRAM HAS BEEN ONE OF
THE MOST POSITIVE HIGHLIGHTS
OF MY 13 YEARS OF TEACHING.
ADVENTURES IN
READTHEN
CREATIVE WRITING
FIELD TRIPS
4,540
240
students
students
11,340
5,460
program hours
program hours
91%
91%
of students were proud
of what they wrote.
of students had a positive
and motivational experience.
100%
72%
of teachers would recommend
the trip and return for more.
of students increased their
knowledge of literary devices.
I WAS BLOWN AWAY
WITH THIS FIELD TRIP.
WRITE
READTHEN WRITE HELPED ME FEEL CONFIDENT
ABOUT EVERYTHING I WRITE.
PUBLISHING
ACADEMY
12
students
566
program hours
100%
of students rated their
experience as “exceptional.”
25%
of students enrolled again
for the subsequent summer.
THIS PROGRAM TOOK WHAT SEEMED LIKE
AN UNIMAGINABLE, UNATTAINABLE DREAM
AND MADE IT A REALITY.
REACH
ASHBURN • AUBURN GRESHAM
AVONDALE • BANNOCKBURN
BELMONT CRAIGIN • BRIDGEPORT
BRONZEVILLE • BUCKTOWN
CHICAGO LAWN • DES PLAINES
EAST GARFIELD PARK • EDGEWATER
ENGLEWOOD • GAGE PARK
HARVEY • HOMER • HOMER GLEN
HOMEWOOD • HUMBOLDT PARK
HYDE PARK • IRVING PARK
LA GRANGE • LAKEVIEW
LINCOLN PARK • LOGAN SQUARE
LOOP • MORTON GROVE
NEAR NORTH • NEAR SOUTH
NEAR WEST • NILES • NORTH CENTER
NORTH LAWNDALE • NORWOOD PARK
PILSEN • PORTAGE PARK
ROGERS PARK • UPTOWN
WEST BELDEN • WEST LAWN
WEST TOWN • WOODLAWN
75 SCHOOLS SERVED
Each year, Open Books collects
hundreds of thousands of
donated books from individuals,
community groups, and corporations.
We use and give away engaging,
appropriate, and high-quality books
in our instructional programs,
distribute them through our
grant programs, and sell them
to help support our mission.
BOOKS
In 1999, a program called Book
Worm Angels established itself to
provide
in-classroom
lending
libraries for children in some of
Chicago’s most underserved areas.
In September of this year, it made a
little literacy history: Book Worm
Angels became part of Open
Books, marking one of the first
such mergers in the city.
The Book Worm Angels program is
now our flagship way of giving
engaging, appropriate, high-quality,
hand-selected books to students
and educators, and we were thrilled
to share more than 80,000 of them
in the first year of operation.
80,350 books
given to K-12 educators for use in their classrooms
through the Book Worm Angels program
THERE ARE SOOOO MANY AWESOME BOOKS.
WE ARE IN AWE OF THE SELECTION.
14,350 books
given to students and nonprofit partners
through the Book Grants program
The award-winning store at
Open Books River North features
50,000+ catalogued used books
for all ages, a curated selection
of discounted new books, and
a slate of literary events including
author readings, book launches,
and book clubs.
$297,000
in sales to
help support our
literacy programs
More than
30
RIVER NORTH
In 2014, we celebrated five years
of operation at our flagship River
North location. A lot has changed
here in that time, from the sheer
number of books processed
(millions) to the fine details of how
we shelve them (always a work in
progress) and the addition of
services (new books, book search,
and a streamlined membership
program) for our beloved customers.
What remains constant are our love
for books, our passion for sharing
them with others, and our
commitment to making our store a
place for readers of all ages and
abilities.
events
ONE OF THE BEST INDIE STORES I’VE BEEN TO.
626
members
Tens of
thousands
of books
processed
for the cause
FEELS LIKE MORE OF US COULD GET ALONG IF WE COULD JUST
TAKE IN THE SPIRIT OF THIS AWESOME LITTLE ESTABLISHMENT.
This year, we opened our
second-ever retail store:
a unique shop in the heart of Pilsen.
It stocks more than 10,000 books
at exceptional prices, including a
particularly wide array of children’s
titles for families and educators.
PILSEN
“It’s not just a warehouse any
more,” we said. “Come on over
and see.” And our new neighbors in
Pilsen responded, flocking to our
brand-new retail location on
weekdays, weekends, and 2nd
Friday events. Their spending
support — by the book, the bag,
and the box — quickly helped turn
the space into a buzzing store and
literary destination specially suited
for families and teachers. We’re
proud to be in the neighborhood
and look forward to welcoming you
there soon.
Pilsen is also the center of our online sales operations,
which include 75,000+ books and extend worldwide.
IF YOU ARE A TEACHER, YOU NEED TO VISIT THIS STORE.
$272,000
in sales to help support
our literacy programs
THERE IS NO BETTER PLACE IN
THE CITY TO BUY KIDS’ BOOKS.
Volunteers support everything at
Open Books, from literacy programs
and book operations to events
and community engagement.
210
140
participated in
programs
ran things at
River North
84
103
powered things
at Pilsen
excelled at
events
95% RATED THEIR EXPERIENCE AS
VERY GOOD OR EXCELLENT
22,900 TOTAL VOLUNTEER HOURS
VOLUNTEERS
From schoolrooms to Sidewalk
Sales, and everywhere in between,
the incredible volunteers of Open
Books made everything happen
this year. Each and every week, they
helped bring students’ stories to life,
matched books with readers,
powered events, spread the word,
and transformed tens of thousands
of lives through reading, writing, and
the power of used books. We
wouldn’t be here without them...and
we wouldn’t want to be.
I FEEL VERY LUCKY TO HAVE FOUND
SUCH A WONDERFUL ORGANIZATION DOING WORK THAT IS SO CLOSE TO MY HEART.
MEMBERS
TEAM
ASSOCIATE BOARD
ALICE SONG
ALLISON SMITH
ANDREA KITAMURA
ANDREW CELIS
ANNE MORRISSY
ASHLEY DENNISON
BILL HOGAN
CHRISTIE HOYT
CURTIS SHAW FLAGG
DENISE SCHWARTZ
ELIZABETH FU
EMILY THORNTON
JAMIE CROCKETT
JOANNA NICHOLS
KEITH ULRICH
LINDSAY KNIGHT
MARY HAYES
MATTHEW KREIS
MAUREEN FISHBACK
MAYA ROBERTS
MEG KESLOSKY
MICHELLE LAWLESS
NICOLE NEMEROVSKI
NICOLE SCHULT
NISH HANSOTI
PHOEBE WOOD
TEACHING ARTISTS
AND FELLOWS
CHARLOTTE WOOLLEY
JESSICA MITOLO
JOSH ALLETTO
JULIA WEED
KAYLA LANE FREEMAN
NELL KLUGMAN
AARON LIPPELT
BOOK DIRECTOR
ALICE CORCORAN
BOOKSELLER
ANNA PIEPMEYER
DIRECTOR OF EDUCATION
AVA ZELIGSON
VOLUNTEER MANAGER
CARY MELE
ELEMENTARY PROGRAMS MANAGER
CHRISTINA BROWN
BOOK COORDINATOR
DAVID WATKINS
FINANCE DIRECTOR
DENISE WILKERSON
BOOK ASSOCIATE
DOMINIC LOISE
BOOK ASSOCIATE
DUSTIN WALSH
DIRECTOR OF SOCIAL ENTERPRISE
ERICA HAWKINSON
DIRECTOR OF EXTERNAL RELATIONS
HOWARD RUAN
BOOK ASSOCIATE
JESSICA JONES LEWIS
TEEN PROGRAMS MANAGER
KEVIN ELLIOTT
BOOKSTORE MANAGER
LIZZY BODEN
ASSISTANT BOOKSTORE MANAGER
MARY GIBBONS
BOOK COORDINATOR
MIKE BAN
PROGRAM DIRECTOR, BWA
NATALIE WEISS
EXECUTIVE DIRECTOR
NELL KLUGMAN
VOLUNTEER COORDINATOR
NOAH CRUICKSHANK
MARKETING MANAGER
STACY RATNER
FOUNDER
BOARD OF DIRECTORS
BRUCE GEIER • DAN RATNER
FREDERICK FISHER
•
HOLLY BARTECKI
• J. DIRK VOS
LINAS GRIKIS • MIKE BAN • NATALIE WEISS • PAUL GEDIMAN
ROBIN KOSKINEN • RON BLUMENTHAL • ROSEMARY HAEFNER
STACY RATNER • STEPHEN BAN • TIMOTHY O’BRIEN • TONI BURT
INTERNS ADRIANNA COLE • ANNA BLASER • ASHLEY ESTRADA • ASHLEY NEWCOMB
ATALISSA DEAN
• BETH GLASER • JACQUI BYRNE • KRIS DALE • MADELEINE HALLER
MICHAEL LESUER • ANALEAH ROSEN • EMILY GAYNOR • JAIME FRANKLE • AUDREY MARTIN
JILLIAN MAYER • KATLIN DAGG • MAGGIE NEEDHAM • MEREDYTH OHRINGER • NIVEEN SALEH
SEMECIA WILLIAMS • WILL THEISS • SARAH WALZ
Ira Abrams
Matthew Abrams
Erica Adams
Keene Addington
Charles Ager
Valerie Agnew
Marissa Akason
Tanveer Ali
Jennifer Allen
David Alperin
Paul Alt
Luis Amaya
Patricia Ames
Sam Amis
Megan Anders
Lucie Ann Chen
David Anthony
Kristin Anton
Stacy Argoe
Kevin Armistead
Samuel Arnold
Yulissa Arroyo
Kerith Asma
Sarah Atlas
Kaisa Auge-Katz
Buck Austin
Laura Austin
Krystal Baker
Susan Baker
Ashley Balerna
Lou Bank
Paul Barile
Shawn Barnett
Katie Baron
Diane Bartko
Amy Bates
Russell Beck
Joel Benedetti
Sean Bennett
Maris Benz
Maureen Ber
Jason Bergeron
Paul Berlanga
Alli Berry
Harriet Bertsche
Jennifer Besemer
Fritz Biederman
Niki Bjornvick
Elaine Black
Kristin Blake
Judith Blank
Mary Alyce Blum
Barbara Blumenthal
Dave Bodell
Lizzy Boden
Twanna Bolling
Caroline Boneham
Greg Borzo
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Henrietta Boudros
Claire Boyle
Katie Bradford
Lynn Brahin
Paul Brenzel
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Diana Brogan
Andrea Brown
Dathan Brown
Sarah Brown
Jennifer Browning
James Buck
Katherine Buck
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Niamh Burke
David Burnham
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Crystal Carrazco
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Latasha Carter
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Denise Casalino
Daniel Cashmere
Monica Cassman
Jeff Catt
Kala Causemaker
Sarah Ceponis
Jessie Chavez
Lisa Chin
Alina Chu
Adrien & Summer Ciobanu
Kaman Cipi
John Clark
Martha Clemons
Benjamin Clinger
Sarah Cocoma
Bernadette Cognac
Michelle Cohan
Laura Cohen
Molly Cohen
Ari Cohn
Latesha Coleman
Anne Connors
Brenda Corro
Lauren Coulson
Brandon Courtney
Lisa Courtney
John Craib-Cox
Kristi Crawford
Ron Crawford
Tony Crisanti
Jim Crouch
Eddie Cuevas
Mirko Cukich
Carolyn Culbertson
Laura Dahl
Bryant Danisch
Grayson Davis
Virginia Davis
Lindsay Dawson
Nancy Dearinger
Lori Degman
Alisun Dekock
Kathryn Dennett
Meredith Derr
Mike Dessimoz
Karina Diehl
Amanda Dieterich
Claude Dixon
Rakhee Dodia
Emily Dohse
Sarah Douglas
Harmon Dow
Rosanne Druian
Jessica Dwinell
John Dwyer
Barbara Earnest
Emily Easton
Becky Eckstein
Kyle and Toria Edwards
Wendy Elliot
Kevin Elliott
Arthur Ellis
Marcella Ellis
Dianne Elman
Adrienne Eltink
Dana Emanuel
Laura Embers
Patricia Entress
Jonathan Epstein
Suzanne Erin
Briana Estevez
Donald Evans
Diana Faulhaber
Sarah Fay
Jonathan Feakins
Nicholas Federowicz
Rachel Feinberg
Jill Felska
Laura Ferrell
David Feuer
Susannah Filbert
Mary Finneran
Catherine Flaa
Jane Fleming
Will Fletcher
Rebecca Folds
John Foley
Curt Franzmann
Stuart Fraser
Andrew Freels
Hilary Freeman
Stacie Freeman
Susan French
Luci Frerichs
Helen Friedli
Elizabeth Fu
Lynn Fuller
Karen Furlong
Kathy Gabriel
Luke Galambos
Anne Gallery
Aracely Galvan
Brenda Garcia
Colin Gaw
Lindsey Gell
Paige Gilligan
Patrick Ginty
Carrie Gladstone
Deborah Gleeson
Jeffrey Glenn
John Godston
Sarna Goldenberg
David Goldstein
Eric Gordon
Irene Gottlieb
Amy Gowans
Nicholas Gracilla
Caitlin Graham
Benjamin Grand
Rachel Granda-Gluski
David Green
Christine Greiner
Jaime Haas
Margaret Hahn Wade
Ayesha Hai Syed
Ginger Hall
Grace Hamilton
Madeleine Hannes
Luke Hansen
Pamela Harcourt
Ariel Hargrave
Heather Harries
John Harris
Rosalie Harris
Elaine Harrison
Marilyn Hasbrouck
Sara Hassan
Michael Hayes
MEMBERS
Shannon Hayes
Ben Healy
James Heidecker
Monica Helgarejo
Lizz Hellinga
Brad Henderson
Paul Henle
Erin Henry
Lori Heringa
Dan Herzberg
Andrea Hetzke
Patrick Hicks
Tom Higgins
Jeff Hirsch
Jim & Teresa Hofheimer
Melissa Holewa
Samantha Holley
Taylor Holley
Sue Holt
Karl Holzer
Stewart Honeck
Meghan Hoover
Patty Horsch
Don Hosek
Sharon Houtkamp
Christie Hoyt
Chang Hsieh
David Hughes
Kerry Hughes
Sarah Humpal
Cedric Hurst
Karen Hyman
Mary Hynes-Berry
Mauricio Ibanez-Brambilla
Jose Isaiah Colon
Kelly Jackson
Verlyn Jackson
Julie Jacobson
Carla Jahnke
Holly and Ed Jamison
Collin Janecek
Teri Jank
Adel Johnson
Lori Johnson
Marge Johnson
Zack Johnson
Jess Jones
Robert Joshel
Cindy Jump
Hannah Jurowicz
John Kabakoff
Rachel Kaberon
Ann Kaminski
Brice Kanzer
Joan Kast
Nancy Katz
Sharon Kaufman
Leslie Kaye
Renee Kelsey
Sarah Ketvirtis
Brandon Kime
Ryan Kirby
Mandy Kirk
Taylor Klassman
Amy Kleinman
Lauren Klouda
Jacob Knabb
Myrna Knepler
Amy Koch
Lisa Koch
Alexa Kohorst
Ilhan Kolko
Jacobo Konigsberg
Barbara Koren
Howard Korey
Kathryn Korn
Graham Kostic
Sonia Kovach
Carrie Koziol
Robert Krakowsky
Rachel Kramer
Jessica Krichbaum
Sandhya Krishnan
Linda Kristensen
John Kristoff
Shara Kronmal
Robert Krzyzanowski
Adrian Kuypers
Brad Labrasca
Blair Lambert
Bethany Lang
Whitney Lasky
Rebecca Lauer
Sarah and Ben Law
Kevin Lawler
Jeongmin Lee
Lynnette Lee
Melissa Lee
Joanne Legler
Susan Leinwohl
Jeremy Leithold-Patt
Shari LeMonnier
Eleni Leventopoulos
Karen Lewis
Mary Lewis
Michelle Lia
James Lichtenstein
Andrea Liebig
Jenna Lieblich
Charolette Lill
Melissa Lindberg
Amy Lindel
Jennifer Lindsay
Michelle Livas
Emily Lofquist
Janet Lohr
Gail Long
Kathryn Luco
April Lundberg
Lesley Lundeen
Ursula Luzon-Maley
Daisy Lynn Mertzel
Trass Lyons
Tony Macaluso
Madelyn MacMahon
Ria Majeske
Ursula Maley
Alejandra Malo
Frank Malone
Tina Manzo
Tamara Maple
Karissa Marcello
Amy Markley
Brooke Marler
Savannah Marrs
Lindsey Marsh
Joe Marshall
Kenneth Marshall
Mike Massart
Philip Matsikas
Marci May
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Jim McNulty
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Robertha Medina
Christina Mendoza
Tiago Mexia
Stephanie Milito
Alexis Miller
Arlyn Miller
Cheryl Miller
Geoffrey Miller
Rachel Miller
Marilyn Miller-Gunn
Laura Mishkin
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Tobin Mitchell
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John Morgan
Debi Morris
Sandy Morris
Robert Morrissey
Anne Morrissy
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Carol Moy
Marisa Moy
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Evan Mudgett
Kenneth Mullin
Barbara Mulvanny
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Mike Munson
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Steve Nelson
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Kate Paone
Tamara Partridge
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Zarana Patel
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Samuel Pena
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Brad Perkins
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Meryl Perlman
Clayton Perschall
Joshua Petersen
Jennifer Peterson
Mary Petraitis
Derek Peyton
Matthew Piechocinski
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Stacey Podell
Terese & Erik Poulos Liotta
John Power
Mary Prekop
Pascale Press
Michelle Pretorius
Joanna Price
Tony Proske
Nancy Quinn
MEMBERS
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Jim Richardson
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Susan Simpson
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Jane Slaven
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Elizabeth Smith
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Mary Soeding
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Ari Spector
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John Steffen
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Kelli Taylor
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Ayanna Thomas
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Willson Turner
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Edward Walker
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Margaret Walsh
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Maht Wells
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Hannah Widlus
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Isaac Wilson
Rebecca Witheridge
Anna Wong
Robert Wong
Phoebe Wood
Mark Woodworth
Melissa Wylen
Amy Wynia
Heming Xu
Wayne Younghans
Katherine Zartman
James Zielke
Gary Zimmerman
Heidi Zimmerman
Tracy Zindell
Elaine Zinngrabe
Marge Zolla
Ashley Zugerman
FOUNDATIONS
The Albert B. & Audrey G. Ratner Family Foundation
The Albert Pick, Jr. Fund
Amazon Smile
Austin Community Foundation
The Baila Foundation
Barnard/Fain Foundation
Blue Waters Foundation
Ceres Foundation
Charity Gift Certificates
Charles Schwab Foundation
The Chicago Community Trust
The Daniel and Genevieve Ratner Foundation
Dave and Cathy Burnham Foundation
Dollar General Literacy Foundation
Dr. Scholl Foundation
Gem Educational Foundation
Greater Cincinnati Foundation
Greenleaf Avenue Foundation
The Halleck Fund
The Hitchhiker’s Guide to the Galaxy Foundation
Irvin Stern Foundation
The Joan Shafran and Rob Haimes Foundation
John R. Houlsby Foundation
JPMorgan Chase Foundation
JustGive
MacArthur Foundation
The McCortney Foundation
The Miles Foundation
Network for Good
Out of the Box Foundation
PayPal Giving Fund
The Pico Foundation
The Retirement Research Foundation
The Robert R. and Gay C. Cull Family Foundation
Rotary Club of Wilmette Foundation
TisBest Philanthrophy
Truist
UBM Community Connection Foundation
William & Tauna Abel Philanthropic Fund
CORPORATIONS
Abbott Laboratories
Adams Street Partners
American Institutes for Research
Anonymous
ArcelorMittal
Automotive Marketing Consultants
Ay Chiwowa
Blau and Malmfeldt
Boeing
Caninelink Education
Capital One
CareerBuilder, LLC
Catalyst Ranch
Charity Storage Inc.
Chicago Athletic Clubs
Chicago Blue Dolphins
Credit Suisse
Daughters of the American Revolution
DaVita
Dimo’s Pizza
The Drake Hotel
Eden House
Flashbay Inc
Froth & Swine LLC
Galway Bay
GCG Financial
Generation Brands
GG+A
Global Poverty Club
Goose Island Beer
Graff Valve & Fittings
Great Head Hair Salon
Greenberg Traurig
Haverford College
Heart of Illinois United Way
Hollar Jam
HomeMade Pizza Company
KJ Sales Inc
Kozy’s Cyclery
Lagunitas
LaSalle Capital
Laugh Factory
LBM Construction
Liberty Prairie Area Homeowners Association
Lou Malnati’s
Metropolitan Club
Next Door State Farm
Nisei Lounge
Nuveen Investments
Ombudsman Educational Services
Panera Cares
Performics
River North Residents Association
Rogers Auto Group
Sine Qua Non Salons
Skydeck Chicago
SoFo Tap
United Way of Metro Chicago
Wolters Kluwer
YNPN Chicago
SUPPORTERS
Luma Abdulkarim
Ana Stacy Accion
Sean Addie
Olufemi Adeyanju
Erica Agran
Pat and Bill Albu
Christopher Algera
Mary Claire Allvine
Adoor Amanullah
Tonya Ames
Nirav Amin
Johanna Anand
Erin Anderson
Ronald Anderson
Anonymous
James Anstrand
Christine Anto
Daniel Anton
Kristin Anton
Carol Archie
Mary Arents
Joseph Armenio
Chelsea Armstrong
Miriam Aronin
Krista Asprec
Christopher Atkinson
John Atkinson
Cynthia Ayala
Lori Aydelotte
Nancy Ayers
Ann Ayres-Johnson
Mark Bacharach
Kathryn Balakrishnan
Roshan Balakrishnan
Melanie Balzer
Michael Ban
Stephen Ban
Joshua Baran
Margaret Barber
Patricia Barber
Carrie Barnett
Nancy Bartl
Kelly Bates
Jennifer Bauer
Robin Bauer
Allyson Becker
Norman Beesley
Marilyn Begle
Maris Benz
Carrie Berger
Rachel Bernstein
Alli Berry
Michelle Bert
Bharat Bhatt
Kabir Bhatt
Kripa Bhavnagri
Rebecca Biber
Erin Kay Biebuyck
Janice Billmeyer
Kayla Birt
Rebekah Bishop
Mary Alyce Blum
Ronald Blumenthal
Mark Bogart
John Boggs
Michelle Bonnema
Greg Borzo
Esther Bowen
Thomas Boyle
Sarah Braden
Megan Bradley
Neal Brady
Christie Breitner
Kimberly Brener
Paul Brenzel
Kimberly Breunling
Jonathyne Briggs
Josseph Britz
Chris Brodhead
Nancy Brodhead
Jennifer Brogan
Dawn Brown
Meta Brown
Carl Bruschel
Katelin Buell
David Bueschel
William Bunn
Joseph Burke
David Burnham
Deborah Burrell
Toni Burt
Jesselyn Cacho
Amy Caggiano
Amy Cahill
Carolyn Caine
Justin Callis
Nancy Calomiris
Joseph Caltabiano
Nicole Camboni
Emily Campbell
Rebecca Campoverde
Mona Canete
Arturo Cardenas
Pamela Carroll
Royce Carvalho
Leslee Carver
Jacqueline Cassidy
Andrea Catalano
Larry Chait
John Chambers
Lauren Chavanne
Jason Cheong-Leen
Robin Chesnut
Megan Chessare
Lisa Chin
Sue Chlebek
Nishit Choksi
Elizabeth Choporis
Esther Choy & Bernhard Krieg
Laura Christie
Kelly Christopher
Alina Chu
Joseph Cislo
Hilda Claire
Leslie Clark
Trevor Clarke
Deborah Clarkson
Sara Clary
Kelley Clink
Katherine Colburn
Amanda Collingsworth
Lily Colpitts
Jennifer Companik
Scott Conklin
Karen Conrad
Margaret Conway
Christine Cook
G Henry Cook
George Cook
Zachary Cook
Shar Coulson
Jacob Cremer
Joe and Janet Cristiano
Barbara Cronin
SUPPORTERS
Nathaniel Cubeta
Cindy Cuffaro
Ana Cummins
Laura Cunningham
Erica Cybulski
Brendan Dabkowski
Ellen Dahlke
Paul Dailing
Gail Daltry
Theresa Darnell
Udayan Das
John Davidson III
Julia Davidson
Dave Davila
Mario Davila
Anne Davis
Joseph Davis
Mary Dease
Sylvia Dedeyan
Monique Demery
Bhavna Deole
Jessica Depinto
Avinash Desai
Samir Desai
Dana Desjardins
Michael Dessimoz
Merritt Dewitt
Ruthanne DeWolfe
Jimena Di Iorio
Caitlyn Dial
Mary Anne Diehl
Jayson Ditmore
Geraldine Domingo
Jennifer Dominiak
Sheila Donovan
Sarah Dorsey
Frank Doty
Frankie Doty
Jamie Downhower
Sandra Downhower
Shelly Drancik
Laura Drangmeister
Gregg Driben
Mary Drobny
Sarah DuCoin
John Dummer
Jessica Dumphy
Priya Dunlap
Tricia Dunne-Silvetti
Karen Durham
Diane Dybsky
Sarah Eilefson
Norman Eliaser
Kathryn Elliott
Kevin Elliott
Dana Emanuel
Brian Ensminger
Matthew Ephraim
G.J. Erinjeri
Matthew Ervin
Edward Esmao
Janet Espina
David Evans
Adrienne Eynon
Jo Falk
Kristi Falzon
Albert Farbman
Nemo Farhi
Shawn Farley
Sandra Farnan
Angela Farrell
Mary Faucher
Nicholas Federowicz
Deanna Fiorentino
Maureen Fishback
Virginia Fitzgerald
Jane Fleming
Sarah Flosi
Mary Rebecca Folds
John Foley
Megan Ford
Jennifer Forestal
Patricia Fosmoe
Jennifer Foss
Elizabeth Fox
Richard Frachey
Cheryl Frandsen
Alysha Frankel
Nancy Fraser
Stuart Fraser
Mason Friebel
Ilana Fried
Cathy Friedman
Alexander Fruchter
Brett Furlong
Karen Furlong
Kay Gakstatter
Elisa Gall
Alex Galperin
Constance Gangadharan
Gary Garrett
Rosemary Garrett
Marian Garrigan
Margaret Gaskin
Annmarie Gast
Emily Gay
Christine Gaza
Mary Gearing
Sydney Geissler
Michael Geneser
Heather Geon
Robert Gephart
Lora Gettleman
Mary Gibbons
Erin Glasco
Ian Glasson
Deborah Gleeson
Angelica Glitch
Catherine Goebel
Robyn Golden
Sarna Goldenberg
Ellen Goldrick
Joan Goldstein
Kate Goldstein
Robert Gomez
Lauren Gonzales
Jacob Goodall
Toni Goodall
Nancy Goodwill
Marshall Gordon
Stacy Gorgas
Margarett Gorodess
Amy Gowans
Peter and Susan Gray
Angela Green
Larry Greenstein
Christie Gricius
Colleen Griffin
Elaine Griffin
John Griffin
Linas Grikis
Walter and Frances Grobelny
Jonathan Grosshans
David Grossman
SUPPORTERS
Katherine Groya
Thomas Grubbe
Kevin Grullan
Sandy Guttman
Rosemary Haefner
Abby Hagler
Andrea Hamblin
Allison Hamill
Brendan Hannigan
Ami Hansoti
Nish Hansoti
Sharon Harper
Ann Harris
Marshall Harris
Allison Harrison
Jennifer Hart
John Hartmann
Rebecca Hartstein
Johanna Hauki
Fredrica Hawkinson
Jeanne Hayes
Mary Hayes
Shannon Hayes
Marilyn Heckmyer
Sandra Hellinga
Praveen Hemachandran
Valerie Henderson
Rosemary Hepner
Anne Herbert
Lori Heringa
Elizabeth Hermann
Karen Hermann
Amy Hernandez
Julie Hess
Rebecca Hirsch
Sherry and Arnold Hirsch
Ronald Hirsen
Beth Hodge
Janet Hoffman
William Hogan
Harriet Holderness
Matthew Holihan
Glenn Hollister
Susan Holt
Drew Holzfeind
Michael Hominick
Doug & Linda Honnold
Donald Hosek
Daniel Hotopp
Julia Hotopp
Karen Hott
Kathleen Hotton
Eden House
Lisa Houston
Sharon Houtkamp
Fred Howayeck
Laurie Hoyt
Leslie Hsu
Yu-Sung Huang
Leslie Huffhines
Sarah Humpal
Stacy Hunt
Carol Hustad
Julie Jacobson
Margo James
Terese Jank
Joan Janowski
Lisa Jastram
Laura Jenkins
John Johnson
Kenneth Johnson
Gail Jones
Kathleen Jones
Cynthia Jump
Jessica Kam
Douglas Kaminski
Kathi Kapell
Lesli Kapell
Danielle Keenan
Jena Kehoe
John Keigher
Frank Kekstadt
William Kelly III
Cathleen Kelly
Elizabeth Kelly
Linda Kelly
Maureen Kelly
Alison Kemph
Nancy Kemph
Elizabeth Kent
Laura Keslosky
Michael Keslosky
Mike Keslosky
Jennifer Kilgore
Eunice Kim
David Kindler
Kathy Kirby
Amanda Kirk
A Kitamura
Taylor Klassman
John Kloepfer
Nancy Kloetzli
Leslie Knight
Lindsay Knight
Melinda Knight
Sarah Koerner
Sandra Kofler
Christine Kommer
John Kopczyk
Rebecca Kornick
Robin Koskinen
Melanie Koto
Sonia Kovach
Carrie Koziol
Jason Kraus
Kyle Krause
Alyson Krawczyk
David Krawczyk
Matthew Kreis
Richard Kreis
Lori & Cliff Kroeter
Rick Kroner
Kelly Krueger
Larissa Kruzel
Heather Kundert
Jason Kunesh
Kevin Kuzlik
Aurore Labenheim
Rachel Lamp
Margaux Lancaster
Barbara Lanctot
Emily Lancy
Shelly Langford
Kristyn Larsen
Robert Lassandrello
Dalia Laufer
Robert Lavick
Michelle Lawless
Jeongmin Lee
Carolle Lemonnier
Lise Lemonnier
Alice Letvin
King Leung
Joseph Levand
SUPPORTERS
Lindsay Levin
Susan Levin
Jennifer Levy
Jessica Lewis
Susan Lieberman
Sherry Lin
Renee Linton
Alan Littmann
Melissa Lofing
Susan Long
Robert Loveman
Joy Loverde
Matthew Lunger
Sonia Laura Lupher
Lindsey Lyman
Michael Macenas
Emily Machado
Meredith Macinio
Mary Mackay
Michael Mackey
Ramesh Madhavan
Miriam Maduff
Anthony Maggitt
Michael Magnus
Molly Maguire
Victor Maisano
Julie Malaga
Sarah Mallis
Paul Malmfeldt
Gregory Malnassy
Cathy Maloney
Amanda Manczak
Michael Manetta
Karen Mangold
Julie Mangum
Elisabeth Martin
Dhiraj Maru
Susana Mascarell
Gillian Mason
Angie Massani
Jayme Massion
Jon Mastantuono
Lauren Matosziuk
Chris Matson
Jeanne Mayer
Tim Mazurek
Margaret McCamant
Mary Kay McCaw
Megan McCormick
Karyn McCoy
Devon McFadden
Jasmine McGinnis
Soledad McGrath
Tyler Mclean
Richard McLeese
Leslie McLeod
Dennis Mele
Theodore Melinat
Andrew Melo
Juan Mendez
Diamond Mendonides
Marilyn Merz
Joshua Metayer
Joan Meyer
Kelly Miller
Terry Miller
Anne Millheiser
Melissa Millican
Shannon Milligan
Laura Mishkin
Debra Mitchell
Rajendra Modi
Alexandria Moeller
Shona Moeller
Mariangela Monteiro
Stephen Moore
Emily Moran
Elvia Moreno
Lloyd & Donna Morgan
Michael Morlan
Sandy Morris
Anne Morrissy
Kortney Morrow
Noreen Morrow
Emily Moss
Carol Mullins
Sara Murphy
Sheila Murphy
C Musker
Linda Nagarkatti
Shanti Nagarkatti
Janelle Najar
Rocio Negrete
Gretchen Neidhardt
Kelsey Nelson
Renee Nelson
Viola Nelson
Joseph Newcomb
Lindsay Newcomb
Jennifer Newton
Michael Neylon
Joanna Nichols
Frederick Nickl
Cristian Nogalo
Kathleen Nolan
Cari Ann Noll
Rita Novak
Andrew Novelli
Tim O’Brien
Erin O’Connell
Stacy O’Connell
James O’Connor
Kathleen O’Connor
Ken and Cris Ohr
Erin O’Keefe
Kirsten Olmsted
Chelsey Olsen
Karen O’Mara
Norton O’Meara
Terrence O’Shaughnessey
Brighid O’Shaughnessy
Elliott Otis
John O’Toole
Brian Owen
Christine Paccione-Anderson
Lila Pagni
Butchi Paidipaty
Suzanne Palm
Geoffrey Pan
Katina Panagopoulos
Swagateeka Panigrahy
Marie Kris Pantojan
Michael Parker
Jon Passman
Steven Pate
Atulkumar Patel
Prakash Patel
Shivani Patel
Sima Patel
Susan Pateros
Misti Patrella
Edie Paul
Leslie Paul
Leeanne Paulenoff
SUPPORTERS
Jody Paulsen
Jennifer Pearsall
Leon Pedell
Amy Pena
Nancy Pena
Jennifer Pennock
John Peplinski
Mary Peplinski
Hyde and Ann Perce
Peter Pereira
Brad Perkins
Clayton Perschall
Jane & John Peterson
Linda Phan
Thienan Phan
Lindsey Phelps
Debra Pickett
Chris Pier
Denis Pierce
Diana Pilch
Judith & Lee Piper
Linda Plaskota
Madeleine Plonsker
Karen Pockyarath
Evelyn Pollins
Suzanne Pollock
Jamie Ponce & Greta Schoon
Mario Ponce
Steven Powers
Tatyana Pramatarova
Eleanor Price
Margot Pritzker
Linda Projansky
Pam Prosch
Peter Quagliana
Jim Quaid
Michael Quattrocki
Eileen Quilici
Barbara Raffaldini
Kiran Rai
Darius Raji
Swarn Rajpal
Usha Raju
Ann Randall
Julia Randall
Margaret Rappaport
Cynthia Rapponotti
Stacy Ratner
David Raupp
Kp Ravikrishnan
Beth Ray
Nathalie Rayter
Sara Rebmann
Danny Reed
Kylene Reese
Linda Reilly
Maggie Rezac
Margaret Rhem
David Richardson
Kristin Richardson
Gary Rietz
Joan Riley & James Goodridge
Richard Ring
Amy Robillard
Harry Robinson
John Robinson
Meg Robinson
Teryn Robinson
Nancy Rodin
Karen Rogulja
Alison Romer
Christine Romer
Maggie Romer
Alan Rosenberg
Ellen Rosenwinkel
Stephanie Rosier
Abraham Roth
Eli Roth
Howard Ruan
Rachel Rubinstein
Mary Ruebenson
Marilyn Rusnak
Sarah Russe
Rebecca & David Russo
Maureen Ryan
Joseph Sak
Richard & Greta Salem
Cecelia Samans
Phillip Samuels
Molly Sargent
Christine Sarich
Kerry Sayers Doucet
Maria Scavo
Susan Schaefer
Udo Schaefer
Ingrid Scheckel
Mary Schlaak
Mary Schlick
Ami Schlosser
Marsha Schneider
Carolyn Schoeller
Carrie Schormann
Elliot & Jayne Schreiber
Benjamin Schulman
Charlotte Schultz
Rebecca Schultz
Daniel Schuman
David Schwartz
Denise Schwartz
Mary Ann Schwartz
Sandra Schwartz
Susan Schwartz
Phoebe Sebring
Audrey Selin
Jayprakash Shah
Paula Shapiro
Sharif Shawki
Tim Sheehan
Ravishankar Shenava
Stanley Sherman
Behroze Shetty
Melissa Shields
Dina Shniderman
Suzanne Shoemaker
Lisa Sicilian
Barbara & Richard Silverman
Elizabeth Simer
Stephen Simko
Janice Sims
Carly Siuta
Michael Skrobuton
Jason Smith
B. Ryan Smyth
Evelina Snell
Phillip Solzan
Alice Song
Jaclyn Stacy
Gary Stark
William Steinmetz
Julie Stern
Cheri Stevens
Elizabeth Stevens
Janet Stevens
Julie Stevens
SUPPORTERS
Timothy Stevens
Craig Stevensii
Adrienne Stinson
Donna Strobel
Diana Sturgeon
Shannon Sudberry
Gail Sugar
Laura Sullivan
Melissa Sullivan
Dorothy Swanson
Melissa Swanson
Brenda Swartz
Darci Swisher
Holly Swyers
Joseph Symond
Lori Szudarek
Sara Tabor
Ravi Talati
A. Robert Taylor
Barbara Taylor
Laura Temple
Staci Terrell
Ratna Thinakkal
Carly Thom
Erica Thomas
Jay Thomas
Ian Thompson
Laura Thorne
Emily Thornton
Sandra Thornton
Timothy Thumma
Charissa Tolentino
Vasundhara Tolia
Joy Tongco
Dana Traub
Hethyr Tregerman
Constantine & Jean Trela
Kathryn Trott
Grace Tsao-Wu
Annie Tsui
Helen Turley
Michael Tyrrell
Kathleen Ulrich
Keith Ulrich
Arupanayil Ummer
E.W Unnikrishnan
Andrew Vacek
Christopher Van Haren
Penelope & Peter Vandehaar
Julie Vander Weele
Nancy Vanderah
Sarah Vanderah
Beena Variyam
Hector Vasquez
Shana Vazsonyi
Vivek Vichare
Laura Vichick
John Vodopic
Lisa Voigt
James Vonderhaar Jr.
J. Dirk Vos
Mara Vukmarkaj
Maya Vyas
Chase Wade
Catherine Wagner
Marlene Wagner
Theresa Waldbuesser
Kelly Waldhoff
Meredith Wallace
Amanda Walsh
Leigh Wang
Kelly Warner
Jennifer Washo
Natasha Wasinski
David Watkins
Mark Watkins
Ruth Ann Watkins
Jaclynn Webb
Jennifer Webb
Cathryn Denise Weber
Mary Weg
Diane Weis
Ann Weiss
Natalie Weiss
Susan Weiss
Ellen Werner
Marc Werner
Sharon Wiebking
Maureen Wierema
Janice Wile
Melissa Wiley
Stephen Wilhelm
Cheryl Wilson
Michael Wilson
Ava Winckler
Bartholomew Winters
Liam Winters
Lorenda Wleklinski
Hayley Wolfcale
Phoebe Wood
Thomas Woodrome
Sarah Wunning
Kelsey Wurtz
Sia Xeros
Katherine Yamasaki
Ming Yan Fu
Susan Yessne
Farida Yeszhanova
Donald Young
Jeanie Young
Malcolm Young
Jennifer Yourd
Roger Zanchetti
Jake Zappala
Rachel Zellem
Samantha Zill
Marge Zolla
Leah Zoller
Chris Zombory
Sarah Zoppa
Ali Zuberi
M.C. Zucker
FINANCIALS
Open Books’ auditor is:
Ostrow Reisin Berk & Abrams, Ltd.
NBC Tower, Suite 1500
455 N. Cityfront Plaza Dr.
Chicago, IL 60611-5313
OPEN BOOKS LTD.
YEARS ENDED JUNE 30, 2014 AND 2013
OPEN BOOKS LTD.
YEARS ENDED JUNE 30, 2014 AND 2013
CONTENTS
Page
Independent auditor’s report
1-2
Financial statements:
Statement of financial position
3
Statement of activities
4
Statement of functional expenses
5-6
Statement of cash flows
7-8
Notes to financial statements
9-19
Independent Auditor’s Report
Board of Directors
Open Books Ltd.
Chicago, Illinois
We have audited the accompanying financial statements of Open Books Ltd. (the Organization),
which comprise the statement of financial position as of June 30, 2014 and 2013 and the related
statements of activities, functional expenses and cash flows for the years then ended and the
related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation and maintenance of internal control relevant to the
preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audits. We
conducted our audits in accordance with auditing standards generally accepted in the United
States of America. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity’s preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.
Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of significant accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
1
NBC Tower - Suite 1500 | 455 N. Cityfront Plaza Dr. | Chicago, IL 60611-5313 | P: 312.670.7444 | F: 312.670.8301 | www.orba.com
Independent Affiliate of BKR International
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects,
the financial position of Open Books Ltd. as of June 30, 2014 and 2013 and the changes in its net
assets and its cash flows for the years then ended in accordance with accounting principles
generally accepted in the United States of America.
October 30, 2014
2
OPEN BOOKS LTD.
STATEMENT OF FINANCIAL POSITION
June 30,
2014
2013
39,475 $
8,553
5,070
235,641
53,353
9,831
46,585
26,461
36,189
9,364
3,978
200,055
ASSETS
Cash
Accounts receivable
Grants and pledges receivable
Inventory
Intangible asset - software development costs
Prepaid expense
Property and equipment, net
Deposits
$
Total assets
$
424,969 $
334,834
$
81,452 $
4,020
22,862
4,925
53,915
7,465
19,477
3,582
3,601
55,186
26,461
LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable and accrued expenses
Capital lease payable
Deferred rent
Deferred revenue
Total liabilities
Net assets:
Unrestricted
Temporarily restricted
Total net assets
$
Total liabilities and net assets
113,259
84,439
303,287
8,423
247,933
2,462
311,710
250,395
424,969 $
334,834
See notes to financial statements.
3
OPEN BOOKS LTD.
STATEMENT OF ACTIVITIES
Years ended June 30,
Revenue:
Contributions and grants
Contributed books
Contributed goods - other
Contributed services
Contribution from the acquisition of
Book Worm Angels
Book and merchandise sales
Less: cost of sales
Program income
Special events:
Gross proceeds, including contributed goods and
services of $2,705 in 2014 and $2,718 in 2013
Less direct expenditures for events, including
contributed goods and services of $2,705 in
2014 and $2,718 in 2013
Rental income
Miscellaneous
Net assets released from restrictions
2014
Temporarily
Unrestricted
restricted
$
629,692
573,844
1,577
7,347
8,190
$
637,882
573,844
1,577
7,347
Unrestricted
$
431,520
431,976
9,150
11,087
$
433,072
431,976
9,150
11,087
790,031
(493,258)
53,865
790,031
(493,258)
53,865
49,603
49,603
73,028
73,028
(5,831)
17,921
6,101
2,229
(5,831)
17,921
6,101
(10,738)
9,148
4,090
1,830
(10,738)
9,148
4,090
Expenses:
Program services
Management and general
Fundraising
(2,229)
5,961
(1,830)
(278)
1,311,451
1,741,313
1,311,729
1,444,303
123,215
112,480
1,444,303
123,215
112,480
1,212,566
129,641
123,660
1,212,566
129,641
123,660
1,679,998
1,679,998
1,465,867
1,465,867
Change in net assets
55,354
5,961
61,315
(154,138)
Net assets:
Beginning of year
247,933
2,462
250,395
402,071
$
1,552
56,271
866,026
(541,852)
72,424
1,735,352
End of year
$
Total
56,271
866,026
(541,852)
72,424
Total revenue
Total expenses
$
Total
2013
Temporarily
restricted
303,287
$
8,423
$
311,710
$
247,933
(278)
(154,416)
2,740
$
2,462
404,811
$
250,395
See notes to financial statements.
4
OPEN BOOKS LTD.
STATEMENT OF FUNCTIONAL EXPENSES
Program services
Year ended June 30, 2014
Adventures in
Open Books Creative Writing Book Worm
Buddies
Field Trips
Angels
Account fees and bank charges
Advertising
Books donated/given to others
Cost of sales
Dues and subscriptions
Employee benefits
Insurance
Interest
License and filing fees
Meals and entertainment
Office expense
Payroll taxes
Postage and shipping
Printing and copying
Professional fees
Program costs
Recruiting and staff development
Rent
Salaries
Seminars
Telephone
Travel
Utilities
$
Total expenses before depreciation
Depreciation
Total expenses
454
189
1,663
$
1,452
605
4,235
ReadThen
Write
$
$
Supporting services
Publishing
Academy
88,540
699
290
230
$
3,374
1,103
33
3,661
1,154
9
956
119
105
802
1,435
70
1,989
567
1,668
3,244
794
7,769
5,493
666
4,070
3,300
562
344
25,852
70,795
8
1,896
3,720
2,526
72
305
22
58
35
10,666
18,496
2
511
142
1,042
22
2,000
750
41
3,870
2,397
270
5,041
3,001
432
1,733
864
16,140
5,807
1,383
5,547
365
223
18,561
38,682
5
1,236
344
1,813
1,167
714
42,623
74,840
10
2,326
647
4,164
76,784
168,832
195,697
133,862
36,836
950
3,043
492
1,465
151
77,734
171,875
196,189
135,327
36,987
2,607
5,065
3,604
1,419
19,253
65,253
StoryPort
Book collection,
processing
Total program
and sales
services
$
$
541,852
350
13,096
5,996
1,432
415
390
477
32,657
17,663
122,905
3,147
77,734
$
171,875
$
196,189
$
135,327
$
36,987
6,156
27,703
27
344
19
673
46,838
1,311,982
46,838
$
136,503
8,580
94,690
541,852
455
28,389
11,934
44
169,941
226,170
350
5,448
8,081
22,398
46,838
$
Fundraising
$
$
5,910
90
1,065
208
1,088
3,253
347
615
1,862
6,763
3,258
253
1,166
31,052
4,083
918
1,106
4,338
6,964
3,628
440
1,678
15,000
1,696
196
2,054
1,970,831
121,818
111,972
9,223
15,324
1,397
508
1,321,205
1,986,155
123,215
112,480
779,353
5,161
14,002
41,779
$
5,831
5,831
5,831
(5,831)
$
123,215
$
112,480
146,496
9,588
96,861
541,852
663
32,258
16,792
347
1,005
14,574
86,630
47,499
129,753
20,749
49,352
2,152
6,634
326,896
609,575
492
15,171
15,104
40,009
2,210,452
17,229
(541,852)
$ 1,444,303
Total
$
2,781
1,605
113
19,842
45,857
90
1,147
287
2,095
(541,852)
$
$
390
2,543
72,903
40,613
129,060
17,905
3,300
2,152
1,360
293,052
521,939
402
12,328
14,621
35,860
33
7,887
2,149
Less expenses included with revenues
in the statement of activities
Total functional expenses
133,826
7,191
Management
and general
Direct
Benefits
to Donors
$
-
2,227,681
(547,683)
$ 1,679,998
See notes to financial statements.
5
OPEN BOOKS LTD.
STATEMENT OF FUNCTIONAL EXPENSES (CONTINUED)
Year ended June 30, 2013
Program services
Adventures in
Open Books Creative Writing
Buddies
Field Trips
Account fees and bank charges
Advertising
Books donated/given to others
Cost of sales
Dues and subscriptions
Employee benefits
Insurance
License and filing fees
Meals and entertainment
Office expense
Payroll taxes
Postage and shipping
Printing and copying
Professional fees
Program costs
Recruiting and staff development
Rent
Salaries
Seminars
Telephone
Travel
Utilities
$
Total expenses before depreciation
Depreciation
Total expenses
478
209
5,244
$
691
636
9,902
VWrite
$
293
189
2,945
ReadThen
Write
$
460
119
1,859
Supporting services
Book collection,
processing
Total program
and sales
services
1,272
1,748
2,003
178,296
206,065
2,700
7,787
9,296
19,564
123,456
3,773
19,950
493,258
937
23,092
10,575
303
3,081
76,957
33,765
110,711
11,553
14,400
2,736
285
280,977
417,274
2,700
13,100
12,792
29,024
62,395
98,503
1,240,109
2,808
1,190
1,869
183,397
63,585
100,372
54
3,110
999
313
4,495
2,402
29
1,904
577
102
2,992
1,068
474
8,088
4,270
90
976
1,629
684
31
20,331
52,542
474
12,159
6,172
519
5,614
4,963
684
179
48,857
75,943
474
3,936
2,614
48
521
1,476
684
17
11,751
32,171
474
6,323
4,108
170
1,836
932
684
58
21,742
50,553
1,322
699
1,873
1,910
175
4,501
809
874
1,083
103,103
180,589
1,943
105,046
$
493,258
439
10,591
5,529
303
1,185
46,451
16,601
109,884
2,606
5,400
Less expenses included with revenues
in the statement of activities
Total functional expenses
121,534
2,620
105,046
$
183,397
$
63,585
$
100,372
$
Fundraising
$
$
4,092
118
15
674
1,216
3,686
315
538
13,976
3,902
241
1,576
24,887
3,758
958
255
2,648
9,937
5,488
725
2,740
1,800
47
19,392
67,499
1,684,699
127,762
122,711
13,315
21,125
1,879
949
1,253,424
1,705,824
129,641
123,660
760,166
$
10,738
1,187
137
2,232
10,738
10,738
(10,738)
$
129,641
$
123,660
131,306
4,849
20,220
493,258
1,646
26,439
16,003
618
17,005
100,870
43,155
111,677
15,869
41,087
2,736
7,493
313,629
532,791
3,285
16,037
13,405
32,532
1,945,910
23,953
(493,258)
$ 1,212,566
Total
$
35
2,131
1,742
7,161
13,260
48,018
585
1,750
476
1,276
(493,258)
$
$
Management
and general
Direct
Benefits
to Donors
$
-
1,969,863
(503,996)
$ 1,465,867
See notes to financial statements.
6
OPEN BOOKS LTD.
STATEMENT OF CASH FLOWS
2014
Years ended June 30,
Cash flows from operating activities:
Change in net assets
Adjustments to reconcile change in net assets to
cash provided by (used in) operating activities:
Depreciation
Contributed books (including $55,000 from the
acquisition of Book Worm Angels in 2014)
Contributed equipment
Cost of sales - contributed books
Books and goods donated/given to others
(Increase) decrease in operating assets:
Accounts receivable
Grants and pledges receivable
Inventory - new books
Prepaid expense
Deposits
Increase in operating liabilities:
Accounts payable and accrued expenses
Deferred rent
Deferred revenue
Cash provided by (used in) operating activities
Cash flows from investing activities:
Expenditures for intangible asset software development costs
Purchases of property and equipment
Cash used in investing activities
$
61,315 $
2013
(154,416)
17,229
23,953
(628,844)
(431,976)
(2,972)
470,244
19,930
498,449
96,711
811
(1,092)
(1,902)
(6,230)
4,310
(96)
(5,559)
26,995
(287)
27,537
3,385
1,343
23,002
9,597
3,582
68,712
(13,693)
(53,353)
(8,628)
(8,331)
(61,981)
(8,331)
See notes to financial statements.
7
OPEN BOOKS LTD.
STATEMENT OF CASH FLOWS (CONTINUED)
2014
Years ended June 30,
Cash flows from financing activities:
Proceeds from loans payable, related party
Payments on loans payable, related party
Payments on capital lease
$
Cash used in financing activities
Change in cash
Cash, beginning of year
2013
250,000
(250,000)
(3,445) $
(2,871)
(3,445)
(2,871)
3,286
36,189
(24,895)
61,084
Cash, end of year
$
39,475 $
Supplemental disclosure of cash flow information:
Cash paid during the year for interest
$
347
Schedule of non-cash investing and financing transaction:
Capital lease obligation for acquisition of equipment
36,189
$
10,336
See notes to financial statements.
8
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS
1.
Organization and purpose
Open Books Ltd. (the Organization) is a not-for-profit social venture that collects, grants and
sells used books, provides community programs and mobilizes passionate volunteers to raise
awareness about literacy, improve reading skills and spread the love of reading and writing in
Chicago and beyond.
The Organization’s main activity is providing a diverse group of reading and writing programs
designed to build the literacy skills and to enrich the lives of thousands of students each year.
The Organization operates the following signature programs:
Open Books Buddies is a weekly program that allows elementary students to work one-on-one
with a trained, supportive mentor to help boost reading skills such as fluency and
comprehension. Twice each week, a Big Buddy and a Little Buddy pair read together in 30minute segments.
Adventures in Creative Writing Field Trips are unforgettable two-hour experiences designed
to help young people develop their writing skills in meaningful and creative ways. Students write
and read as a whole group, in small groups and as individuals, working with supportive writing
coaches at the literacy center. They read sample work aloud, discuss it as a group and write their
own prose or poetry. Field trips conclude with a trip to the Open Books bookstore, where each
student receives one free book.
Book Worm Angels donates in-classroom lending libraries, grants of children’s books and
reading resource materials to schools and nonprofit partners across Chicago for students to enjoy
and share with their families.
VWrite is an inspiring eight-week program that matches teens with professional adult mentors
who coach students, one-on-one, in college and career communication. The “V” in VWrite
stands for “virtual,” so mentors and students primarily communicate via phone and e-mail
(enabling quality mentors from around Chicagoland to contribute in underserved areas and
giving students a valuable simulation of how real-world, professional communication is
conducted). Topics include resumes, cover letters, goal-setting, e-mail and phone etiquette, job
shadowing, interviews, the college search and application process and more. The VWrite
program was terminated as of June 30, 2013.
9
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
1.
Organization and purpose (continued)
ReadThenWrite is an immersive reading, writing and publishing experience for teenage
authors. Students begin by reading relevant texts in specific genres (memoir, mystery, science
fiction, etc.) and discussing them as a group. With the help of their Open Books leader and
volunteer coaches, students learn about pertinent literary devices and how to apply them to
writing and life experiences. Next, students write their own novella, poems or short story using
the skills covered during the reading portion. They workshop their drafts with peers, then edit
and polish their work with the help of the leader and coaches. Finally, the new authors present
their work at a gala event at the Open Books bookstore. They finish ReadThenWrite with a
published book… and a new sense of self-confidence and accomplishment.
Publishing Academy is a summer writing program for aspiring teen writers. Students from
across the city take part in a magical experience… that of writing and publishing their very own
novel! Through genre-specific writing techniques and discussions of model texts and with the
guidance of supportive and enthusiastic coaches, students are inspired to bring their imagination
to life by working through the entire publishing process, from initial draft to polished prose.
Students’ final novels are unveiled at special gala book launches in the Open Books bookstore.
In addition to receiving their own copies of their published novels, students read excerpts in front
of family and friends, sign autographs and celebrate their success as new authors.
StoryPort is an educational, entertaining and empowering writing portal for young authors and
their guides. Its rich online writing environment empowers K-12 students to create stories of all
kinds, educators to connect those stories to academic objectives and parents to participate in the
process.
The Organization also actively collects used books which are given to program participants,
granted to community organizations, resold to raise money for programs or recycled. The
Organization operates two retail bookstores and also maintains an online sales operation.
Proceeds from the sale of donated books help support literacy initiatives.
10
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
2.
Summary of significant accounting policies
Basis of accounting:
The financial statements are prepared on the accrual basis of accounting in accordance with
generally accepted accounting principles.
Basis of presentation:
The Organization reports information regarding its financial position and activities according to
three classes of net assets: unrestricted, temporarily restricted and permanently restricted. As of
June 30, 2014 and 2013, there were no permanently restricted net assets.
As of June 30, 2014 and 2013, temporarily restricted net assets include the following:
2014
June 30,
Purpose restricted:
Adventures in Creative Writing Field Trips
Open Books Buddies
Program scholarships
Publishing Academy scholarships
Total
2013
$
300 $
15
218
7,890
879
165
368
1,050
$
8,423 $
2,462
Cash:
The Organization maintains its cash in bank accounts which, at times, may exceed federallyinsured limits. The Organization did not have cash balances in excess of federally-insured limits
at June 30, 2014 and 2013. The Organization has not experienced any losses in such accounts.
Management believes that the Organization is not exposed to any significant credit risk on cash.
Grants and pledges receivable:
Grants and pledges receivable represent unconditional promises to give that are expected to be
collected within one year and are recorded at net realizable value.
11
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
2.
Summary of significant accounting policies (continued)
Inventory:
Contributed book inventory is stated at average fair value, which is based on net sales amounts.
During the year ended June 30, 2013, the Organization began to purchase new books to be held
in inventory. Books that are purchased for sale are valued at the lower of cost or market. The
components of inventory are as follows:
June 30,
2014
2013
Contributed books
Purchased books
$
228,180 $
7,461
194,496
5,559
Total
$
235,641 $
200,055
Intangible asset - software development costs:
The cost of software developed for internal use is capitalized in accordance with the Financial
Accounting Standards Board (FASB) Accounting Standards Codification Section 350-40,
Internal-Use Software. Certain costs incurred in connection with the development of the
software during the application development stage are capitalized and will be amortized over the
software’s useful life. All costs incurred during the preliminary project stage and after the
software is ready for its intended use are expensed during the period in which they are incurred.
At June 30, 2014, the Organization had capitalized software development costs of $53,353.
There was no amortization of the development costs during the year ended June 30, 2014 as the
software was not yet ready for its intended use. See Note 5.
Property and equipment and related depreciation:
Property and equipment is stated at cost or, if donated, at the approximate fair value at the date of
donation. Depreciation expense is provided on a straight-line basis over the estimated useful
lives of the assets. The Organization follows the practice of capitalizing all expenditures for
property and equipment in excess of $1,000 and with a useful life greater than one year.
Deferred rent:
In accordance with generally accepted accounting principles, the Organization records monthly
rent expense equal to total minimum payments due over the lease term, divided by the number of
months in the lease term. The difference between rent expense recorded and the amount paid is
charged (credited) to deferred rent.
12
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
2.
Summary of significant accounting policies (continued)
Deferred revenue:
Program tuition and payments collected for future programs and events are recorded as deferred
revenue until earned.
Contributions:
Contributions, including unconditional promises to give, are recognized as revenue in the period
received and recorded as unrestricted, temporarily restricted or permanently restricted depending
on the existence and nature of any donor-imposed restrictions. Temporarily restricted support is
reclassified to unrestricted net assets upon satisfaction of the restriction. Contributions that are
restricted by the donor are reported as increases in unrestricted net assets if the restrictions expire
in the same reporting period in which the revenue is recognized.
The Organization also recognizes as revenue the fair value of contributed (donated) goods and
services. Donated services are recognized as contributions if the services a) create or enhance
nonfinancial assets or b) require specialized skills, are performed by people with those skills and
would otherwise be purchased by the Organization. The Organization recognized donated books
of $628,844 (including $55,000 from the acquisition of Book Worm Angels) and $431,976 and
other goods of $4,282 and $11,868 during the years ended June 30, 2014 and 2013, respectively.
The Organization also recognized pro bono legal services of $7,347 and $11,087 during the years
ended June 30, 2014 and 2013, respectively. In addition, many individuals volunteer their time
and perform a variety of tasks that assist the Organization with other events that are not
recognized as contributions in the financial statements since the recognition criteria was not met.
Functional allocation of expenses:
The costs of providing the programs and activities have been summarized on a functional basis
in the statements of activities and functional expenses. Operating expenses identified with a
functional area are charged to that area and where these expenses affect more than one area, they
are allocated on the basis of ratios estimated by management.
Advertising:
The Organization expenses all costs of advertising as they are incurred. Advertising expense
was $9,588 and $4,849 for the years ended June 30, 2014 and 2013, respectively.
13
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
2.
Summary of significant accounting policies (continued)
Shipping and handling:
The Organization records shipping and handling costs as incurred in program services expenses,
mainly in postage and shipping expense, but also in salaries, office expense, rent and utilities.
Shipping and handling amounted to approximately $144,000 and $142,000 for the years ended
June 30, 2014 and 2013, respectively.
Use of estimates:
The preparation of financial statements in conformity with generally accepted accounting
principles requires management to make estimates and assumptions that affect certain reported
amounts and disclosures. Accordingly, actual results could differ from those estimates.
3.
Tax status
The Organization is a tax-exempt organization as described in Section 501(c)(3) of the Internal
Revenue Code (the Code) and is exempt from federal income taxes on related income pursuant
to Section 501(a) of the Code. In addition, the Internal Revenue Service has determined that the
Organization is not a private foundation within the meaning of Section 509(a) of the Code. The
Organization has adopted the requirements for accounting for uncertain tax positions and
management has determined that the Organization was not required to record a liability related to
uncertain tax positions as of June 30, 2014 and 2013. Federal and state tax and/or information
returns of the Organization are subject to examination by the Internal Revenue Service and state
taxing authorities, generally for three years after the returns were filed. Management believes
that the Organization is no longer subject to income tax examinations by taxing authorities for
years ended prior to June 30, 2011.
14
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
4.
Property and equipment
The components of property and equipment are as follows:
2014
June 30,
Computer software
Furniture and equipment
Leasehold improvements
Vehicle
$
Less accumulated depreciation
and amortization
Property and equipment, net
5.
$
4,991 $
104,589
37,416
10,200
2013
4,991
95,961
37,416
10,200
157,196
148,568
(110,611)
(93,382)
46,585 $
55,186
Intangible asset - software development costs
During the year ended June 30, 2014, the Organization began developing software to be used in
its StoryPort program. Costs incurred for the development of the software have been capitalized.
As of June 30, 2014, the software is still in the development phase and the Organization has not
begun to amortize the intangible asset. See Note 10.
15
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
6.
Acquisition of Book Worm Angels
Effective September 1, 2013, the Organization acquired Book Worm Angels, an Illinois
nonprofit organization that provides in-classroom lending libraries, grants of children’s books
and reading resource materials to schools and nonprofit partners across Chicago for students to
enjoy and share with their families. The Organization intends to continue the efforts of Book
Worm Angels as a new program. The Organization paid no consideration for Book Worm
Angels and acquired its assets including an inventory of used books, cash, trademark, mailing
lists and donor database. Management of the Organization recorded an inherent donation based
on the fair value of the acquired assets at the date of acquisition. The following table summarizes
the total inherent donation recognized in the statement of activities for the year ended June 30,
2014 and the amounts of the assets acquired at the acquisition date:
Year ended June 30, 2014
Cash
Inventory - used books and comics
$
1,271
55,000
Total contribution received
$
56,271
Management estimated a fair value of $-0- for the trademark, mailing lists and donor database.
The Organization has not assumed and will not be liable for any liabilities of Book Worm
Angels.
7.
Related party transactions and concentration
During the year ended June 30, 2014, the Organization received $333,000 in contributions from
the Founder and President and approximately $38,000 in contributions from other officers and
Board members of the Organization.
Effective July 8, 2013 and October 3, 2013, the Organization received loans from the Founder
and President of the Organization totaling $150,000 and $100,000, respectively. The loans bore
interest at 0.23% per annum and were due on demand. These loans were repaid in full during the
year ended June 30, 2014. Interest expense for the year ended June 30, 2014 was $347.
In conjunction with the acquisition of Book Worm Angels, the Organization entered into a
consulting agreement with Six Degrees Consulting, LLC (6DC), effective September 1, 2013.
Subsequent to that date, the owner of 6DC became a Board member of the Organization. 6DC
provided the Organization with fundraising, partner development and general knowledge transfer
services relating to the Book Worm Angels program for a fee of $1,500 per month. The
agreement was cancelled as of August 31, 2014. Consulting expenses paid under this agreement
during the year ended June 30, 2014 totaled $15,000.
16
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
7.
Related party transactions and concentration (continued)
During the year ended June 30, 2013, the Organization received $150,000 in contributions from
a donor-advised fund through the Founder and President of the Organization, an additional
contribution of $50,000 from the Founder and President and approximately $29,000 in
contributions from other officers and Board members of the Organization.
8.
Leases and other commitments
The Organization entered into two operating leases, one for office and program space and the
other for retail space, on July 2, 2009. The leases commenced in November 2009 and matured
on September 30, 2012. The leases called for initial monthly rents of $10,362 and $8,653,
respectively, increasing 3% annually over the remaining term of the lease. Each of the leases
includes rent abatement for a total of five months over the term of the lease. Each of the leases
includes two options to renew for three years each.
During the six months ended June 30, 2012, the Organization opted to renew both operating
leases. The renewal periods commenced on October 1, 2012 and mature on September 30, 2015.
The lease renewals call for initial monthly rents of $11,324 and $9,449, respectively, increasing
3% annually over the remaining terms of the leases.
During the year ended December 31, 2011, the Organization entered into a lease for warehouse
space. Under the terms of this lease, which commenced on April 15, 2011 and matured on
September 30, 2012, monthly rent was $4,000.
During the year ended June 30, 2013, the Organization entered into a new lease for warehouse
space. The lease commenced on September 1, 2012 and matures on October 31, 2017. The lease
calls for initial monthly rent of $5,570 increasing annually equal to the Consumer Price Index but
no less than 4% per annum. The lease includes rent abatement for the first two months of the
lease. The lease also includes one option to renew for three years.
17
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
8.
Leases and other commitments (continued)
Future minimum rental payments under these leases, not including the currently existing renewal
options as noted above, are as follows:
Year ending June 30:
2015
2016
2017
2018
Total
Amount
$
333,857
140,324
77,191
26,064
$
577,436
Rental expense was $326,896 and $313,629 for the years ended June 30, 2014 and 2013,
respectively.
9.
Capital lease
During the year ended June 30, 2013, the Organization financed eight computers with a
combined capitalized cost of $10,336. Accumulated depreciation in the statement of financial
position included $3,704 and $1,637 relating to these leased computers as of June 30, 2014 and
2013, respectively. Depreciation expense reported in the statement of functional expenses
included $2,067 and $1,637 relating to these leased computers for the years ended June 30, 2014
and 2013, respectively. The economic substance of the lease is that the Organization is financing
the acquisition of the assets through the lease and, accordingly, it is recorded in the
Organization’s assets and liabilities. The Organization has the option to purchase the equipment
at fair market value at the expiration of the lease term.
10.
Subsequent events
Effective August 20, 2014, the Organization entered into a subscription agreement as a founder
of StoryPort, Inc., which was incorporated for the purpose of spinning off the StoryPort program.
The Organization has subscribed for 330,000 shares or 33% ownership for a price of $338. In
conjunction with the subscription, the Organization also assigned all intellectual property rights
related to the development of the StoryPort program to StoryPort, Inc. for $10. The intangible
asset – software development costs was transferred from the Organization to StoryPort, Inc.
18
OPEN BOOKS LTD.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
10.
Subsequent events (continued)
Management of the Organization has reviewed and evaluated subsequent events from June 30,
2014, the financial statement date, through October 30, 2014, the date the financial statements
were available to be issued. Other than the items noted above and in Note 7, no events have
occurred in this period that would be required to be recognized and/or disclosed in these
financial statements as required by generally accepted accounting principles.
19