Future of Reading

Analysis

Future of Reading is a registered charity in United States, based in Los Altos, CA. It received its IRS tax-exemption ruling in December 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Future of Reading reported income of $145k and spending of $111k, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $81k to $145k (+79%), an average of +79% a year. The sharpest change came in the year to December 2023, when income rose by 79%. 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, Future of Reading sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 48th percentile within CA. Charities of a similar size with the same main cause include Minnesota Leadership Council on Aging ($145k), Cornerstone Homeschoolers Inc ($145k) and Belmont College Foundation Inc ($145k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 9.2% of the total. At year end it held assets of $90k against liabilities of $0, net assets of $90k.