Readworks Inc

Analysis

Readworks Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1991, 35 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, Readworks Inc reported income of $4.6m and spending of $3.0m, leaving 35% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.0m to $4.6m (+132%), an average of +23% a year. The sharpest change came in the year to August 2023, when income rose by 143%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Readworks Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include TLC Learning Center Inc ($4.6m), Mylan Park Foundation Inc ($4.6m) and Resources for Independent Living Inc ($4.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 95% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $261k (8.7% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $2.7m against liabilities of $82k, net assets of $2.6m. It reported 18 employees.