THE GREAT BOOKS FOUNDATION

EIN: 362182034 501(c)(3)

STREAMWOOD, IL

Total Revenue
$4,423,932
Total Expenses
$3,518,488
Total Assets
$2,766,330
Net Assets
$1,987,596
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1947
Legal Domicile
IL
Principal Officer
VALENTINA TEXERA PARISSI
Phone
3123325870
Tax Period
2022-07-01 to 2023-06-30

THE GREAT BOOKS FOUNDATION, founded in 1947, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2022. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $905K, a strong 20% operating margin.

Mission

THE MISSION OF THE GREAT BOOKS FOUNDATION IS TO ADVANCE THE CRITICAL, REFLECTIVE THINKING, AND SOCIAL AND CIVIC ENGAGEMENT OF READERS OF ALL AGES THROUGH SHARED INQUIRY DISCUSSION OF WORKS AND IDEAS OF ENDURING VALUE.

Program Service Accomplishments

Program 1
Expenses: $1,313,659 Revenue: $2,580,408

K-12 PROGRAMS:IN KEEPING WITH THE FOUNDATION'S MISSION, THE GREAT BOOKS K-12 PROGRAM PROVIDES STRONG, INQUIRY-BASED LANGUAGE ARTS PROGRAMS FOR GRADES K-12 THAT IMPROVE STUDENTS' ACHIEVEMENT IN, AND...

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K-12 PROGRAMS:IN KEEPING WITH THE FOUNDATION'S MISSION, THE GREAT BOOKS K-12 PROGRAM PROVIDES STRONG, INQUIRY-BASED LANGUAGE ARTS PROGRAMS FOR GRADES K-12 THAT IMPROVE STUDENTS' ACHIEVEMENT IN, AND COMMITMENT TO, READING COMPREHENSION, INCREASED LITERACY, CRITICAL THINKING, WRITING AND SPEAKING, CIVIL DISCOURSE, AND LISTENING. GREAT BOOKS PROGRAMS COMBINE CLASSROOM MATERIALS AND THE SHARED INQUIRY METHOD OF LEARNING TO PROVIDE THE ESSENTIAL ELEMENTS STUDENTS NEED TO MEET AND SURPASS THE GOALS OF THE COMMON CORE, STATE STANDARDS FOR ENGLISH LANGUAGE ARTS, AND THE RECOMMENDATIONS OF THE SCIENCE OF READING.K-12 DIGITAL PROGRAMS: TO REMAIN RELEVANT AND SUCCESSFUL IN THE 21ST CENTURY, GREAT BOOKS CREATED A DIGITAL EXPERIENCE BY DEVELOPING DIGITAL PUBLICATIONS AND PRODUCTS TO IMPROVE ACCESS TO CONTENT. WE ARE CONTINUOUSLY UPGRADING OUR PLATFORM TO PROVIDE AN IMPROVED USER EXPERIENCE. THESE DIGITAL EXPERIENCES UPDATE AND ENHANCE THE GREAT BOOKS LEARNING MODEL AND ALLOW THE FOUNDATION TO REACH A WIDER, MORE DIVERSE AUDIENCE.

Program 2
Expenses: $507,413 Revenue: $417,731

PROFESSIONAL DEVELOPMENT:OVER THE PAST YEAR, THE FOUNDATION'S PROFESSIONAL DEVELOPMENT PROGRAM PROVIDED OVER 1700 EDUCATORS WITH SPECIALIZED INSTRUCTION AND CLASSROOM ASSISTANCE IN THE SHARED INQUIRY...

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PROFESSIONAL DEVELOPMENT:OVER THE PAST YEAR, THE FOUNDATION'S PROFESSIONAL DEVELOPMENT PROGRAM PROVIDED OVER 1700 EDUCATORS WITH SPECIALIZED INSTRUCTION AND CLASSROOM ASSISTANCE IN THE SHARED INQUIRY METHOD OF LEARNING THROUGH READING AND DISCUSSION OF GREAT LITERATURE. THE FOUNDATION WORKED CLOSELY WITH SCHOOLS ACROSS THE COUNTRY TO BUILD TEACHERS' PROFICIENCY AND INTEGRATE INQUIRY-BASED LEARNING ACROSS THE CURRICULUM BY PROVIDING CUSTOMIZED DAYS OF IN-PERSON AND ONLINE TRAINING, MODELING, COACHING, AND CONSULTATION. THE FOUNDATION OFFERS TEACHERS AND PARENTS INSTRUCTION IN THE SHARED INQUIRY METHOD OF LEARNING THROUGH IN-PERSON TRAINING, BLENDED ONLINE COURSES, IN-PERSON AND ONLINE COACHING, AND WEBINARS ON SPECIFIC SKILLS. THIS YEAR, THE FOUNDATION RELEASED THE SHARED INQUIRY ESSENTIALS ON-DEMAND TRAINING COURSE, WHICH ROUNDS OUT OUR TRAINING OPTIONS BY OFFERING IN-PERSON, ONLINE, AND ASYNCHRONOUS AS WAYS TO COMPLETE THE FOUNDATION'S TRAINING. AS WELL, THE FOUNDATION LAUNCHED THE SHARED INQUIRY LEARNING CENTER, A PLACE WHERE TRAINED SHARED INQUIRY LEADERS CAN TAKE ADVANTAGE OF FREE RESOURCES TO SUPPORT THE USE OF THE SHARED INQUIRY METHOD IN THEIR CLASSROOMS, PARTICIPATE IN FREE EVENTS SUCH AS A PANEL OR EDUCATOR DISCUSSIONS, AND JOIN AN ENGAGED COMMUNITY OF INQUIRY-BASED EDUCATION PROFESSIONALS.THE JUNIOR GREAT BOOKS PROGRAM HAS BEEN RECOGNIZED BY THE NATIONAL STAFF DEVELOPMENT COUNCIL AS AN "EXEMPLARY PROGRAM" IN TEACHER PROFESSIONAL DEVELOPMENT. FEEDBACK FROM THOSE WHO HAVE PARTICIPATED IN THE FOUNDATION'S PROFESSIONAL DEVELOPMENT ACTIVITIES SUGGESTS THAT THE FOUNDATION PLAYS AN IMPORTANT PART IN CREATING AND SUSTAINING VIBRANT, RESPECTFUL LEARNING COMMUNITIES AND INCREASED LITERACY FOR ADULTS AND STUDENTS.

Program 3
Expenses: $1,101 Revenue: $32,697

ADULT DISCUSSION GROUPS: THE ADULT EDUCATION DIVISION OF THE GREAT BOOKS FOUNDATION SHARES THE MISSION OF THE ORGANIZATION AS A WHOLE: TO HELP SUSTAIN AND STRENGTHEN OUR DEMOCRATIC SOCIETY BY...

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ADULT DISCUSSION GROUPS: THE ADULT EDUCATION DIVISION OF THE GREAT BOOKS FOUNDATION SHARES THE MISSION OF THE ORGANIZATION AS A WHOLE: TO HELP SUSTAIN AND STRENGTHEN OUR DEMOCRATIC SOCIETY BY PROVIDING OPPORTUNITIES FOR LEARNERS TO ENGAGE IN DISCUSSIONS OF WORKS AND IDEAS OF ENDURING VALUE AND TO DEVELOP THE HABITS OF MIND ESSENTIAL TO CIVIC PARTICIPATION AND PERSONAL FULFILLMENT. TO THIS END, THE FOUNDATION SUPPORTS A NETWORK OF SIXTEEN GREAT BOOKS COUNCILS, AS WELL AS 650 BOOK GROUPS NATIONWIDE, ACROSS CANADA AND SOUTH AMERICA; CREATES SPECIAL INITIATIVES FOR OFTEN UNDERSERVED SECTORS OF THE POPULATION, INCLUDING VETERANS OF THE ARMED FORCES; AND HOLDS PUBLIC EVENTS TO ENGAGE AUDIENCES IN THE DISCUSSION OF BOOKS AND IDEAS, INCLUDING ONLINE DISCUSSIONS FOR ADULTS. IN CELEBRATION OF THE FOUNDATION'S 75TH ANNIVERSARY, WE HOSTED A 75TH ANNIVERSARY DISCUSSION SERIES ONLINE DURING THE SPRING AND SEVERAL FREE DISCUSSIONS THROUGHOUT THE YEAR. THE FOUNDATION PARTNERS WITH OTHER CULTURAL ORGANIZATIONS TO BRING ITS WORK TO AS MANY PEOPLE AS POSSIBLE. TO ENABLE THESE VARIOUS PROGRAMS, THE ADULT DIVISION PUBLISHES BOOKS AND OTHER MATERIALS DESIGNED TO ASSIST IN THE PRACTICE OF SHARED INQUIRY, THE GREAT BOOKS FOUNDATION'S UNIQUE DISCUSSION METHOD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,359,951
Program Service Revenue $418,525
Investment Income $33,145
Other Revenue $2,612,311
TOTAL REVENUE $4,423,932

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,516,515
Fundraising Expenses $12,361
Program Expenses $1,822,173
Other Expenses $1,001,973
TOTAL EXPENSES $3,518,488

Year-over-Year Comparison

2022 2021 Change
Revenue $4,423,932 $3,453,370 +0.3%
Expenses $3,518,488 $3,603,035 0.0%
Net Income $905,444 $-149,665 -7.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
30
Volunteers
14

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$321,908
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES BRUMMELL JR CHAIRMAN 1.00
Director
$0 $0 $0
PAUL BARTON VICE-CHAIRMAN 1.00
Director
$0 $0 $0
BARBARA BOWMAN DIRECTOR 1.00
Director
$0 $0 $0
LINDSEY CIOCHINA DIRECTOR 1.00
Director
$0 $0 $0
MARCIA WACHS DAM DIRECTOR 1.00
Director
$0 $0 $0
KAREN MACGILVRAY DIRECTOR 1.00
Director
$0 $0 $0
ALEX J POLLOCK DIRECTOR 1.00
Director
$0 $0 $0
JAMES M REUM DIRECTOR 1.00
Director
$0 $0 $0
GEORGE SCHUEPPERT DIRECTOR 1.00
Director
$0 $0 $0
DAVID WARD DIRECTOR 1.00
Director
$0 $0 $0
JAMES W HAUGH LIFE DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL IGOE LIFE DIRECTOR 1.00
Director
$0 $0 $0
JANE C HUNT LIFE DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM LAWLOR LIFE DIRECTOR 1.00
Director
$0 $0 $0
VALENTINA TEXERA PARISSI PRESIDENT & CEO 35.00
Officer
$146,510 $25,984 $172,494
PETER WALTON VICE-PRESIDENT & CFO 35.00
Officer
$119,851 $29,563 $149,414
MATTHEW LEMEN DIRECTOR OF K-12 PARTNERSH 35.00
Highest
$148,284 $8,056 $156,340
SARAH CLAYPOOL FRIEDLAND EXECUTIVE DIRECTOR OF OPER 35.00
Highest
$114,222 $29,342 $143,564
CHARLES ADAM NATIONAL SALES REPRESENTATIVE 35.00
Highest
$113,336 $22,450 $135,786
ROBERTA FLEMING K-12 PARTNERSHIP MANAGER 35.00
Highest
$107,463 $922 $108,385
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $4,423,932 $3,518,488 $2,766,330 $905,444
2022 $3,453,370 $3,603,035 $2,884,980 $-149,665
2021 $3,289,304 $3,006,600 $3,063,168 $282,704
2020 $2,425,160 $3,355,593 $2,502,117 $-930,433
2019 $3,416,797 $3,679,521 $3,008,427 $-262,724
2018 $3,442,267 $4,033,763 $3,254,315 $-591,496
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