Reading Team Inc

Analysis

Reading Team Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Reading Team Inc reported income of $1.1m and spending of $860k, leaving 23% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $794k to $1.1m (+41%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 51%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Reading Team Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Farmshare Austin ($1.1m), Trent Hill Center for Children & Families ($1.1m) and H3 Collective ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $343k. At year end it held assets of $1.1m against liabilities of $410k, net assets of $703k. It reported 28 employees.