Reach Out and Read Inc

Analysis

Reach Out and Read Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 1999, 27 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 June 2023, Reach Out and Read Inc reported income of $29.2m and spending of $18.3m, leaving 37% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.6m to $29.2m (+153%), an average of +26% a year. The sharpest change came in the year to June 2023, when income rose by 42%. Over the whole period it spent 80% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reach Out and Read Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Lake Norman Charter School Inc ($29.2m), Making Waves Academy ($29.3m) and Sunbelt Human Advancement Resources Inc ($29.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $270k (1.5% of expenses). Other salaries and wages came to $6.3m. At year end it held assets of $25.5m against liabilities of $1.0m, net assets of $24.5m. It reported 82 employees.