Reading Is Fundamental Inc

Analysis

Reading Is Fundamental Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 1973, 53 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 September 2023, Reading Is Fundamental Inc reported income of $11.2m and spending of $11.5m, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $11.7m to $11.2m (-3.9%), an average of -1.0% a year. The sharpest change came in the year to September 2022, when income rose by 61%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reading Is Fundamental Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 88th percentile within DC. Charities of a similar size with the same main cause include New Jersey Charter Public Schools Association a New Jersey Non-Profi ($11.2m), Broward Healthy Start Coalition Inc ($11.2m) and The Charles River School ($11.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $819k (7.1% of expenses). Other salaries and wages came to $2.4m. It paid $355k in professional fundraising fees. At year end it held assets of $23.6m against liabilities of $3.0m, net assets of $20.7m. It reported 33 employees.