2024-11-12T13:12:19-06:00 2023-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2023-01-01 260876000 IBIS GROUP IBIS 2022231854 55 M STREET SE 340 WASHINGTON DC 20003 CHI KIM CHAIRMAN, BOARD OF TRUSTEES 2022231854 2024-11-11 1 0 JENIFER L CHASE P01306883 5638884000 2024-11-11 2023 2024-10-15 13:58:12Z CHI KIM 55 M STREET SE 340 WASHINGTON DC 20003 7034502 0 X THEIBISGROUP.ORG X 2007 DC THE IBIS GROUP IS DEVOTED TO IMPROVING LITERACY FOR CHILDREN AND ADULTS WITH A FOCUS ON SUPPORTING THOSE WITH DYSLEXIA. 9 7 0 7 0 0 0 0 0 0 42838571 2117460 0 0 42838571 2117460 2125000 9320483 0 0 418790 88000 0 0 0 1479182 1000445 4022972 10408928 38815599 -8291468 145205588 111108727 1061901 3787964 144143687 107320763 TO IMPROVE LITERACY FOR CHILDREN AND ADULTS WITH A FOCUS ON SUPPORTING THOSE WITH DYSLEXIA. 0 0 9840533 9320483 SUPPORT EDUCATION ASSESSMENT BY GRANT MAKING. 9840533 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 X 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 7 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X ANNE SAMAK DE LA CERDA 2022231854 55 M STREET SE 340 WASHINGTON DC 20003 CHI KIM TRUSTEE, CHAIR 20.00 X X 0 0 0 MARIA NEIRA TRUSTEE, SECRETARY 10.00 20.00 X X 0 73750 0 JASON GRIFFITHS TRUSTEE, EXECUTIVE DIRECTOR 25.00 15.00 X X 88000 616667 0 JAMES TANTON TRUSTEE 5.00 X 0 0 0 SALLY SHAYWITZ TRUSTEE 2.00 X 0 0 0 ROBERT PIANTA TRUSTEE 2.00 X 0 0 0 TERI LAWLER TRUSTEE 2.00 X 0 0 0 DAWN BROOKS DE COSTA TRUSTEE 2.00 X 0 0 0 JOHN LONGLEY TRUSTEE 2.00 X 0 0 0 LYNNE MUNSON FORMER TRUSTEE/EXECUTIVE DIRECTOR 0.00 40.00 X 0 2827957 47713 88000 3518374 47713 0 1 1 0 BLANK ROME LLP 1825 EYE STREET NW WASHINGTON DC 20006 LEGAL COUNSEL 193708 WHITEBOARD ADVISORS 1000 POTOMAC ST NW STE 150 WASHINGTON DC 20007 PROGRAM MANAGEMENT 175862 2 2117460 2117460 4917042 4917042 0 2117460 0 0 2117460 9320483 9320483 88000 88000 278419 278419 145670 145670 376369 329426 46943 3909 14 3895 47026 47026 103262 96031 7231 11922 2622 9300 28244 28244 DUES & SUBSCRIPTIONS 3957 3957 OTHER EXPENSES 1667 1667 10408928 9840533 568395 0 X 2580306 352924 46019347 42656089 25236 96605935 68074478 145205588 111108727 106898 57966 550000 3710000 405003 19998 1061901 3787964 X 144143687 107320763 144143687 107320763 145205588 111108727 X -8291468 -28531456 X X 0 1 X 1 0 X 5500 5500 118815892 118815892 118815892 5500 118821392 0 0 0 118821392 219152 8739 2610 422604 2117460 2770565 219152 8739 2610 422604 2117460 2770565 119035044 8739 8110 422604 2117460 121591957 0.97720 0.99600 0.02280 0.00400 X 0 68074478 C 68074478 DUE TO GREAT MINDS PUBLIC BENEFIT CORPORATION 19998 19998 X 7034502 0 7034502 -4917042 -4917042 2117460 15325970 4917042 4917042 10408928 0 10408928 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE ORGANIZATION IS SUBJECT TO TAXATION ON NET UNRELATED BUSINESS INCOME. DURING THE TAX YEAR ENDED DECEMBER 31, 2023, THE ORGANIZATION HAD NO NET UNRELATED BUSINESS INCOME. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XI, LINE 4B - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD REPORTED ON PART VIII LINE 10B -4,917,042. PART XII, LINE 2D - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD REPORTED ON PART VIII LINE 10B 4,917,042. 1 COLLABORATIVE FOR ACADEMIC SOCIAL AND EMOTIONAL LEARNING (CASEL) 815 WEST VAN BUREN STREET SUITE 210 CHICAGO IL 60607 205884201 501(C)(3) 250000 0 EDUCATIONAL GRANT THE ALBERT SHANKER INSTITUTE 555 NEW JERSEY AVE NW WASHINGTON DC 20001 521432693 501(C)(3) 150000 0 EDUCATIONAL GRANT DYSLEXIA ALLIANCE FOR BLACK CHILDREN 3 NORMA PLACE SCARSDALE NY 10583 852395885 501(C)(3) 300000 0 EDUCATIONAL GRANT OUR DYSLEXIC CHILDREN INC 2125 WALTHAM ROAD COLUMBUS OH 43221 850778068 501(C)(3) 100000 0 EDUCATIONAL GRANT LEARNING POLICY INSTITUTE 1530 PAGE MILL ROAD SUITE 250 PALO ALTO CA 94304 472772048 501(C)(3) 250000 0 EDUCATIONAL GRANT MINNESOTA PUBLIC RADIO 480 CEDAR STREET ST PAUL MN 55101 410953924 501(C)(3) 200000 0 EDUCATIONAL GRANT SUNY NEW PALTZ FOUNDATION INC 1 HAWK DRIVE NEW PALTZ NY 12561 222141645 501(C)(3) 2660000 0 EDUCATIONAL GRANT FOUNDATION FOR EXCELLENCE IN EDUCATION INC 215 SMONROE STREET SUITE 420 TALLAHASSEE FL 32301 260615175 501(C)(3) 400000 0 EDUCATIONAL GRANT STANDARDS WORK INC 29 CARTER STREET QUINCY MA 02169 521785250 501(C)(3) 100000 0 EDUCATIONAL GRANT ST JOSEPHS ACADEMY FOUNDATION 3015 BROUSSARD STREET BATON ROUGE LA 70808 237004456 501(C)(3) 25000 0 EDUCATIONAL GRANT PROJECT UNITE INC 12400 WILSHIRE BOULEVARD SUITE 1275 LOS ANGELES CA 90025 871541875 501(C)(3) 400000 0 EDUCATIONAL GRANT SJA FOUNDATION 3015 BROUSSARD STREET BATON ROUGE LA 70808 237004456 501(C)(3) 25000 0 EDUCATIONAL GRANT SUNY NEW PALTZ FOUNDATION 1 HAWK DRIVE NEW PALTZ NY 12561 222141645 501(C)(3) 3710000 0 EDUCATIONAL GRANT 13 0 PART I, LINE 2: THE ORGANIZATION REQUIRES REPORTING DURING THE YEAR ON HOW THE GRANT FUNDS ARE USED. 0 0 0 0 0 0 0 0 0 LYNNE MUNSON FORMER TRUSTEE/EXECUTIVE DIRECTOR 0 712434 0 2082075 0 33448 0 16500 0 31213 0 2875670 0 0 JASON GRIFFITHS TRUSTEE, EXECUTIVE DIRECTOR 88000 616667 0 0 0 0 0 0 0 0 88000 616667 0 0 PART I, LINE 3 THE FORMER EXECUTIVE DIRECTOR IS NOT COMPENSATED BY THE ORGANIZATION FOR HER SERVICES. THE FORMER EXECUTIVE DIRECTOR IS COMPENSATED BY GREAT MINDS PBC, THE ORGANIZATION'S SEVENTY-FIVE PERCENT OWNED SUBSIDIARY, FOR HER SERVICE AS ITS CHIEF EXECUTIVE OFFICER. FORM 990, PART V, LINE 15: THE ORGANIZATION DID NOT REPORT OR PAY THE SECTION 4960 EXCISE TAX. THE FORMER EXECUTIVE DIRECTOR WAS NOT COMPENSATED BY THE ORGANIZATION DURING 2023. THE FORMER EXECUTIVE DIRECTOR IS COMPENSATED BY GREAT MINDS PBC, THE ORGANIZATION'S 75%-OWNED TAXABLE SUBSIDIARY, FOR HER SERVICE AS THAT COMPANY'S CHIEF EXECUTIVE OFFICER. SHE PROVIDED NO SERVICES TO THE ORGANIZATION DURING 2023. THE ORGANIZATION DID NOT REIMBURSE THE SUBSIDIARY FOR ANY TIME INCURRED. THEREFORE, THIS INDIVIDUAL IS DISREGARDED FOR PURPOSES OF SECTION 4960 DUE TO THE LIMITED HOURS EXCEPTION, PER REGS. SECTION 53.4960-1(D)(2)(II). FORM 990, PART VI, SECTION A, LINE 3 JASON GRIFFITHS, AN EMPLOYEE OF GREAT MINDS PBC, A RELATED ORGANIZATION, OVERSEES AND PERFORMS MANAGEMENT DUTIES FOR IBIS GROUP. JASON WAS COMPENSATED $88,000 AS AN INDEPENDENT CONTRACTOR FOR HIS SERVICES TO IBIS GROUP AS EXECUTIVE DIRECTOR. ALL OTHER REPORTABLE COMPENSATION REPORTED FOR JASON GRIFFITHS REPRESENTS COMPENSATION FROM GREAT MINDS PBC FOR SERVICES RENDERED SOLELY TO THAT ORGANIZATION UNDER A CONTRACT WITH THE PBC. FORM 990, PART VI, SECTION B, LINE 11B THE IBIS GROUP'S GOVERNING BODY IS PROVIDED WITH A COPY OF THE FORM 990 FOR ITS REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ALL INTERESTED PERSONS ARE SUBJECT TO IBIS GROUP'S CONFLICT OF INTEREST POLICY. AN INTERESTED PERSON IS DEFINED AS ANY DIRECTOR, PRINCIPAL, OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS DIRECT OR INDIRECT FINANCIAL INTEREST. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON DISCLOSES THE EXISTENCE OF THE FINANCIAL INTEREST AND IS GIVEN AN OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF THE COMMITTEES WITH GOVERNING BOARD-DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER DISCUSSION WITH THE INTERESTED PERSON, HE/SHE LEAVES THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS DECIDE IF A CONFLICT OF INTEREST EXISTS. VIOLATION OF THE CONFLICTS OF INTEREST POLICY: IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT INFORMS THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORDS THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCE, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT TAKES APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION C, LINE 19 IBIS GROUP MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART X, LINE 12, REDUCTION IN INVESTMENT: THE INVESTMENT HELD BY THE ORGANIZATION IN GREAT MINDS PBC WAS 75% AT DECEMBER 31, 2023. THE INVESTMENT IS ACCOUNTED FOR ON THE EQUITY METHOD. UNDER THE EQUITY METHOD, THE ORGANIZATION RECOGNIZED ITS SHARE OF EARNINGS BASED ON OWNERSHIP PERCENTAGES ANNUALLY DUIRNG 2023. DURING THE YEAR ENDING DECEMBER 31, 2023, THE ORGANIZATION RECOGNIZED THE LOSS OF $28,531,457 WHICH IS EQUAL TO ITS PROPORTIONAL SHARE OF GREAT MINDS PBC LOSS. FORM 990, PART XI, LINE 9: EQUITY LOSS ON GREAT MINDS PBC OPERATIONS -28,531,456. GREAT MINDS PUBLIC BENEFIT CORPORATION 55 M STREET SE STE 340 WASHINGTON DC 20003 843785772 EDUCATION SERVICES DC GREAT MINDS C 157780478 186988163 0.75000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 GREAT MINDS PBC P 20000 COST