Reading & Math Inc

Analysis

Reading & Math Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in August 2015, 11 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 July 2023, Reading & Math Inc reported income of $66.0m and spending of $65.5m, spending 99% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $29.7m to $66.0m (+122%), an average of +22% a year. The sharpest change came in the year to July 2021, when income rose by 34%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reading & Math Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Muskingum University ($65.9m), Concept Schools Inc ($66.2m) and Rivier University ($65.9m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 97% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $259k (0.4% of expenses). Other salaries and wages came to $14.6m. At year end it held assets of $8.0m against liabilities of $4.4m, net assets of $3.6m. It reported 3,376 employees.