Read Ahead Inc

Analysis

Read Ahead Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1991, 35 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, Read Ahead Inc reported income of $1.9m and spending of $1.9m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.4m to $1.9m (+37%), an average of +8.2% a year. The sharpest change came in the year to September 2021, when income rose by 25%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Read Ahead Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Museum Center Park Inc ($1.9m), Stanley H Durwood Foundation ($1.9m) and Society of St Vincent de Paul Our Lady of the Rosary Conference ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $161k (8.6% of expenses). Other salaries and wages came to $855k. At year end it held assets of $2.1m against liabilities of $970k, net assets of $1.1m. It reported 21 employees.