Readwest Inc

Analysis

Readwest Inc is a registered charity in United States, based in Rio Rancho, NM. It received its IRS tax-exemption ruling in June 2004, 22 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, Readwest Inc reported income of $225k and spending of $189k, spending 84% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $118k to $225k (+92%), an average of +24% a year. The sharpest change came in the year to June 2021, when income rose by 113%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Readwest Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NM. Charities of a similar size with the same main cause include Woodsfield Covenant Christian Academy Inc ($225k), Beacon School Parent Association ($225k) and Ellsworth Ebenezer Christian Society School ($225k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $59k (31% of expenses). At year end it held assets of $176k against liabilities of $0, net assets of $176k. It reported 3 employees.