Reading Quest

Analysis

Reading Quest is a registered charity in United States, based in Santa Fe, NM. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Reading Quest reported income of $1.0m and spending of $793k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $362k to $1.0m (+185%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reading Quest sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within NM. Charities of a similar size with the same main cause include Our Lady of the Sacred Heart Basic Studies ($1.0m), Goldie B Wolfe Miller Women Leaders in Real Estate Initiative ($1.0m) and Palisades Enrichment Programs a Non Profit Corporation ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $88k (11% of expenses). Other salaries and wages came to $516k. At year end it held assets of $546k against liabilities of $8,793, net assets of $537k. It reported 31 employees.