Reach Out and Read Minnesota

Analysis

Reach Out and Read Minnesota is a registered charity in United States, based in Bloomington, MN. It received its IRS tax-exemption ruling in June 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 (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 Out and Read Minnesota reported income of $358k and spending of $395k, spending 110% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $316k to $358k (+13%), an average of +4.3% a year. The sharpest change came in the year to June 2022, when income rose by 29%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Reach Out and Read Minnesota sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 63rd percentile within MN. Charities of a similar size with the same main cause include Logan City School District Foundation ($358k), Institute for Experiential Learning Inc ($358k) and Gateway Christian Academy of Pascagoula ($358k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $98k (25% of expenses). Other salaries and wages came to $107k. At year end it held assets of $209k against liabilities of $4,691, net assets of $204k. It reported 6 employees.