Read for Literacy Inc

Analysis

Read for Literacy Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in August 1986, 40 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 August 2023, Read for Literacy Inc reported income of $415k and spending of $416k, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $390k to $415k (+6.3%), an average of +1.5% a year. The sharpest change came in the year to August 2022, when income rose by 27%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Read for Literacy Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within OH. Charities of a similar size with the same main cause include DC Way Academy ($415k), Glendora Education Foundation ($415k) and Faith Hope and Love Community Inc ($415k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 95% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $72k (17% of expenses). Other salaries and wages came to $121k. At year end it held assets of $850k against liabilities of $69k, net assets of $780k. It reported 5 employees.