Madison Reading Project Inc

Analysis

Madison Reading Project Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in December 2014, 12 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Madison Reading Project Inc reported income of $1.0m and spending of $1.1m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $358k to $1.0m (+183%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 111%. Over the whole period it spent 69% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Madison Reading Project Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within WI. Charities of a similar size with the same main cause include Police Athletic League of Parsippany Troy Hills ($1.0m), Girls for Technology Inc ($1.0m) and Community Network Council ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $99k (9.4% of expenses). Other salaries and wages came to $348k. At year end it held assets of $1.5m against liabilities of $249k, net assets of $1.3m. It reported 17 employees.