Team Read

Analysis

Team Read is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Team Read reported income of $1.1m and spending of $714k, leaving 36% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $613k to $1.1m (+83%), an average of +16% a year. The sharpest change came in the year to August 2021, when income rose by 38%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Team Read sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within WA. Charities of a similar size with the same main cause include Chosen Generation Christian Academy Inc ($1.1m), The Foundation for Florida Gateway College Inc ($1.1m) and Apple Valley Christian Academy ($1.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $143k (20% of expenses). Other salaries and wages came to $217k. It paid $23k in professional fundraising fees. At year end it held assets of $2.0m against liabilities of $152k, net assets of $1.9m. It reported 12 employees.