Reach Inc

Analysis

Reach Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in March 1999, 27 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 June 2023, Reach Inc reported income of $1.4m and spending of $1.3m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $479k to $1.4m (+194%), an average of +31% a year. The sharpest change came in the year to June 2022, when income rose by 179%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reach Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within VA. Charities of a similar size with the same main cause include Preschool Playhouse Inc ($1.4m), The Schultz Center for Teaching and Leadership Inc ($1.4m) and 916 Ink ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $59k (4.4% of expenses). Other salaries and wages came to $141k. At year end it held assets of $2.0m against liabilities of $2.0m, net assets of $39k. It reported 14 employees.