Readsource Inc

Analysis

Readsource Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Readsource Inc reported income of $1.1m and spending of $1.3m, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $829k to $1.1m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2020, when income rose by 48%. Over the whole period it spent 84% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Readsource 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 80th percentile, and in the 83rd percentile within GA. Charities of a similar size with the same main cause include Ronald McDonald House Charities of the Red River Valley ($1.1m), Eagles Wings Counseling Center Inc ($1.1m) and National Association of Ems Educators ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. Other salaries and wages came to $789k. At year end it held assets of $1.7m against liabilities of $96k, net assets of $1.6m.