H Read Inc

Analysis

H Read Inc is a registered charity in United States, based in Mansfield, MA. It received its IRS tax-exemption ruling in July 1981, 45 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, H Read Inc reported income of $2.9m and spending of $2.7m, spending 93% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.7m to $2.9m (+74%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 40%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, H Read Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Make a Wish Foundation of South Dakota ($2.9m), Visionary Home Builders of California Inc ($2.9m) and The Thoracic Surgery Foundation ($2.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 11% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $322k (12% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $2.3m against liabilities of $159k, net assets of $2.1m. It reported 67 employees.