Reading Connections Inc

Analysis

Reading Connections Inc is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in April 1992, 34 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 Connections Inc reported income of $967k and spending of $1.2m, spending 122% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $810k to $967k (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2022, when income rose by 15%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Reading Connections Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include Butler County Community Resource Council ($967k), Mark Skinner Library ($967k) and Autism Society Central Virginia Chapter Inc ($967k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $78k (6.6% of expenses). Other salaries and wages came to $741k. At year end it held assets of $737k against liabilities of $275k, net assets of $461k. It reported 51 employees.