Reading Scholarship Foundation Inc

Analysis

Reading Scholarship Foundation Inc is a registered charity in United States, based in Reading, MA. It received its IRS tax-exemption ruling in March 1975, 51 years ago. 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, Reading Scholarship Foundation Inc reported income of $244k and spending of $229k, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $217k to $244k (+13%), an average of +3.1% a year. The sharpest change came in the year to September 2022, when income rose by 301%. Over the whole period it spent 39% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Reading Scholarship Foundation Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 61st percentile within MA. Charities of a similar size with the same main cause include St Louis Altenheim ($244k), Friends of Lasdon Arboretum Inc ($244k) and Illinois Congress of Parents Teachers ($244k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 62% of the total. At year end it held assets of $3.8m against liabilities of $0, net assets of $3.8m.