Reed Next Inc

Analysis

Reed Next Inc is a registered charity in United States, based in Oakland, NJ. It received its IRS tax-exemption ruling in February 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Reed Next Inc reported income of $5.1m and spending of $4.8m, spending 96% of its income. Across the 6 years on record, from June 2018 to June 2023, income grew from $1.0m to $5.1m (+404%), an average of +38% a year. The sharpest change came in the year to June 2020, when income rose by 72%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Reed Next Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include Common Market Philadelphia Inc ($5.1m), Texas Baptist Childrens Home Inc ($5.1m) and YWCA West Central Michigan ($5.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Other salaries and wages came to $2.4m. At year end it held assets of $2.2m against liabilities of $1.4m, net assets of $785k. It reported 80 employees.