Open Books Ltd
Open Books Ltd shows strong revenue growth and asset accumulation, with no reported officer compensation, but a significant increase in liabilities in the latest fiscal year.
EIN: 204830666 · Chicago, IL · NTEE: B60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.4M |
| Total Expenses | $3.1M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $2.0M |
| Transparency Score | 90/100 |
Is Open Books Ltd Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Open Books Ltd directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Open Books Ltd
Open Books Ltd (EIN: 204830666) is a nonprofit organization based in Chicago, IL, classified under NTEE code B60. The organization reported total revenue of $5.4M and total assets of $4.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Open Books Ltd's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Open Books Ltd is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.6M |
| Total Expenses | $3.1M |
| Surplus / Deficit | +$496K |
| Total Assets | $4.0M |
| Total Liabilities | $2.1M |
| Net Assets | $2.0M |
| Operating Margin | 13.7% |
| Debt-to-Asset Ratio | 51.2% |
| Months of Reserves | 15.5 months |
Financial Health Grade: A
In 2023, Open Books Ltd reported a surplus of $496K with revenue exceeding expenses, holds 15.5 months of operating reserves (strong position), has a debt-to-asset ratio of 51.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Open Books Ltd's revenue has grown at a compound annual growth rate (CAGR) of 8.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +44.5% | +29.1% | +148.1% |
| 2022 | -13.9% | +3.2% | -0.8% |
| 2021 | -1.5% | -2.2% | +48.2% |
| 2020 | +22.7% | +0.3% | +103.3% |
| 2019 | +7.9% | +6.9% | +8.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Open Books Ltd with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Open Books Ltd allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $496K, with revenue exceeding expenses.
- Debt-to-asset ratio: 51.2%.
Executive Compensation Analysis
Open Books Ltd consistently reports 0% officer compensation across all available IRS 990 filings, indicating that its executive leadership is either entirely volunteer-based or compensated through mechanisms not classified as officer compensation, which is highly unusual for an organization with over $3 million in annual expenses.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Open Books Ltd's IRS 990 filings:
- Significant and unexplained increase in liabilities from $151,626 in 2022 to $2,072,532 in 2023.
- Consistent 0% officer compensation reported despite substantial organizational growth and revenue, which is atypical for an organization of this scale and warrants further inquiry.
Strengths
The following positive indicators were identified for Open Books Ltd:
- Consistent revenue growth, increasing from $1,733,966 in 2014 to $3,624,935 in 2023.
- Strong asset accumulation, with assets growing from $424,969 in 2014 to $4,049,088 in 2023.
- Expenses consistently below revenue, indicating sound financial management and the ability to generate surpluses.
- Long history of IRS 990 filings (13 filings), demonstrating commitment to transparency.
Frequently Asked Questions about Open Books Ltd
Is Open Books Ltd a legitimate charity?
Open Books Ltd (EIN: 204830666) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $5.4M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Open Books Ltd spend its money?
Open Books Ltd directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Open Books Ltd tax-deductible?
Open Books Ltd is registered as a tax-exempt nonprofit (EIN: 204830666). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Open Books Ltd CEO make?
Open Books Ltd's highest-compensated officer earns $3 annually. The organization reported $5.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Open Books Ltd's spending goes to programs?
Open Books Ltd directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Open Books Ltd compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Open Books Ltd is above average for NTEE category B60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Open Books Ltd located?
Open Books Ltd is headquartered in Chicago, Illinois and files with the IRS under EIN 204830666. It is classified under NTEE code B60.
How many years of IRS 990 filings does Open Books Ltd have?
Open Books Ltd has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $5.4M in total revenue.
What caused the significant increase in liabilities from $151,626 in 2022 to $2,072,532 in 2023?
The IRS 990 data shows a substantial jump in liabilities in the latest fiscal year. This could be due to various factors such as new debt for expansion, deferred revenue, or other financial obligations. Further investigation into the organization's financial statements would be needed to understand the specific nature of these liabilities.
How does Open Books Ltd manage to report 0% officer compensation with growing revenue and assets?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size. It suggests that key leadership roles might be filled by volunteers, or compensation is structured in a way that it's not reported under 'officer compensation' on the 990, such as through a related entity or as general employee salaries.
What is the specific breakdown of program, administrative, and fundraising expenses?
While the total expenses are provided, the IRS 990 summary data does not offer a detailed breakdown of how these expenses are allocated across programs, administration, and fundraising. This information would be crucial for a more precise assessment of spending efficiency.
Filing History
IRS 990 filing history for Open Books Ltd showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Open Books Ltd's revenue has grown by 175.5%, moving from $1.3M to $3.6M. Total assets increased by 672.4% over the same period, from $524K to $4.0M. Total functional expenses rose by 172.4%, from $1.1M to $3.1M. In its most recent filing year (2023), Open Books Ltd reported a surplus of $496K, with revenue exceeding expenses. The organization holds $2.1M in liabilities against $4.0M in assets (debt-to-asset ratio: 51.2%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.6M | $3.1M | $4.0M | $2.1M | — | — |
| 2022 | $2.5M | $2.4M | $1.6M | $152K | — | View 990 |
| 2021 | $2.9M | $2.3M | $1.6M | $251K | — | View 990 |
| 2020 | $3.0M | $2.4M | $1.1M | $283K | — | View 990 |
| 2019 | $2.4M | $2.4M | $546K | $277K | — | View 990 |
| 2018 | $2.2M | $2.2M | $504K | $253K | — | View 990 |
| 2017 | $2.0M | $2.0M | $463K | $208K | — | View 990 |
| 2016 | $1.8M | $1.9M | $455K | $195K | — | View 990 |
| 2015 | $1.8M | $1.8M | $538K | $183K | — | View 990 |
| 2014 | $1.7M | $1.7M | $425K | $113K | — | View 990 |
| 2013 | $1.3M | $1.5M | $335K | $84K | — | View 990 |
| 2012 | $632K | $703K | $446K | $41K | — | View 990 |
| 2011 | $1.3M | $1.1M | $524K | $49K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.6M, expenses of $3.1M, and assets of $4.0M (revenue +44.5% year-over-year).
- 2022: Revenue of $2.5M, expenses of $2.4M, and assets of $1.6M (revenue -13.9% year-over-year).
- 2021: Revenue of $2.9M, expenses of $2.3M, and assets of $1.6M (revenue -1.5% year-over-year).
- 2020: Revenue of $3.0M, expenses of $2.4M, and assets of $1.1M (revenue +22.7% year-over-year).
- 2019: Revenue of $2.4M, expenses of $2.4M, and assets of $546K (revenue +7.9% year-over-year).
- 2018: Revenue of $2.2M, expenses of $2.2M, and assets of $504K (revenue +9.5% year-over-year).
- 2017: Revenue of $2.0M, expenses of $2.0M, and assets of $463K (revenue +12.2% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.9M, and assets of $455K (revenue +0.2% year-over-year).
- 2015: Revenue of $1.8M, expenses of $1.8M, and assets of $538K (revenue +4.6% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.7M, and assets of $425K (revenue +33.3% year-over-year).
- 2013: Revenue of $1.3M, expenses of $1.5M, and assets of $335K (revenue +105.7% year-over-year).
- 2012: Revenue of $632K, expenses of $703K, and assets of $446K (revenue -52.0% year-over-year).
- 2011: Revenue of $1.3M, expenses of $1.1M, and assets of $524K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Open Books Ltd:
Data Sources and Methodology
This transparency report for Open Books Ltd is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.