The K16 Ready Society

Analysis

The K16 Ready Society is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in April 2012, 14 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, The K16 Ready Society reported income of $1.4m and spending of $1.0m, leaving 25% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $704k to $1.4m (+93%), an average of +18% a year. The sharpest change came in the year to August 2023, when income rose by 135%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The K16 Ready Society sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include Major Adams Community Committee ($1.4m), Nebraska Center for Workforce Development and Education ($1.4m) and Foundations Preschool of Washtenaw County ($1.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $157k (15% of expenses). Other salaries and wages came to $302k. At year end it held assets of $1.4m against liabilities of $117k, net assets of $1.3m. It reported 2 employees.