Adult Reading Center Inc

Analysis

Adult Reading Center Inc is a registered charity in United States, based in Pearland, TX. It received its IRS tax-exemption ruling in December 1987, 39 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 2023, Adult Reading Center Inc reported income of $565k and spending of $614k, spending 109% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income grew from $385k to $565k (+47%), an average of +14% a year. The sharpest change came in the year to June 2020, when income rose by 20%. Over the whole period it spent 123% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Adult Reading Center Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Volunteers of America Inc ($565k), Boy Scouts of America ($565k) and Human Anatomy and Physiology Society Inc ($564k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $79k (13% of expenses). Other salaries and wages came to $193k. At year end it held assets of $363k against liabilities of $408k, net assets of -$46k. It reported 14 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.