Reading and Education for Adult Development Inc

Analysis

Reading and Education for Adult Development Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in October 1986, 40 years ago. 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 June 2024, Reading and Education for Adult Development Inc reported income of $836k and spending of $731k, spending 87% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $944k to $836k (-11%), an average of -3.0% a year. The sharpest change came in the year to June 2024, when income rose by 31%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Reading and Education for Adult Development Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within VA. Charities of a similar size with the same main cause include Kids Connection Inc ($836k), Assistance Center of Collin County Inc ($836k) and Texas Wounded Warriors ($836k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 84% of the total. Other salaries and wages came to $505k. At year end it held assets of $2.0m against liabilities of $128k, net assets of $1.8m. It reported 17 employees.