Read USA Inc

Analysis

Read USA Inc is a registered charity in United States, based in Atlantic BCH, FL. It received its IRS tax-exemption ruling in June 2016, 10 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 December 2023, Read USA Inc reported income of $3.9m and spending of $4.7m, spending 119% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $350k to $3.9m (+1027%), an average of +124% a year. The sharpest change came in the year to December 2021, when income rose by 426%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Read USA Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Massrobotics Inc ($3.9m), Florida High School for Accelerated Learning - Metro Tampa ($3.9m) and Signature School Inc ($3.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $179k (3.8% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.3m against liabilities of $1.2m, net assets of $1.1m. It reported 196 employees.