Foundation for Reading Area Community College

Analysis

Foundation for Reading Area Community College is a registered charity in United States, based in Reading, PA. It received its IRS tax-exemption ruling in July 1982, 44 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Foundation for Reading Area Community College reported income of $4.2m and spending of $3.0m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.3m to $4.2m (+235%), an average of +35% a year. The sharpest change came in the year to June 2024, when income rose by 125%. 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, Foundation for Reading Area Community College 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 91st percentile, and in the 90th percentile within PA. Charities of a similar size with the same main cause include NC State Natural Resources Foundation Inc ($4.2m), Andover School of Montessori Inc ($4.2m) and Adams County Community Foundation Inc ($4.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% of the total. At year end it held assets of $28.9m against liabilities of $700, net assets of $28.9m.