Freedom Readers Inc

Analysis

Freedom Readers Inc is a registered charity in United States, based in Myrtle Beach, SC. It received its IRS tax-exemption ruling in October 2010, 16 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 December 2023, Freedom Readers Inc reported income of $185k and spending of $233k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $218k to $185k (-15%), an average of -3.9% a year. The sharpest change came in the year to December 2021, when income rose by 58%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Freedom Readers Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 58th percentile within SC. Charities of a similar size with the same main cause include Lite House Partners Inc ($185k), Looma Education Corporation ($185k) and Phenix City Mayors & Councel Ball ($185k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $36k (16% of expenses). Other salaries and wages came to $138k. At year end it held assets of $259k against liabilities of $4,482, net assets of $254k. It reported 13 employees.