Reading League

Analysis

Reading League is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in March 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Reading League reported income of $7.7m and spending of $5.5m, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.0m to $7.7m (+160%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 85%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reading League sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Franklin Christian Academy ($7.7m), Oceanside Library ($7.7m) and Chicago City Day School ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $248k (4.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $8.6m against liabilities of $3.5m, net assets of $5.2m. It reported 23 employees.