Joyful Readers Inc

Analysis

Joyful Readers Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 2021, 5 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 June 2023, Joyful Readers Inc reported income of $1.3m and spending of $1.2m, spending 90% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $120k to $1.3m (+988%), an average of +988% a year. The sharpest change came in the year to June 2023, when income rose by 988%. Over the whole period it spent 83% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Joyful Readers Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include Courts for Kids ($1.3m), Camp Lighthouse Ministry Inc ($1.3m) and Center for Self Sufficiency Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $104k (8.9% of expenses). Other salaries and wages came to $343k. At year end it held assets of $279k against liabilities of $39k, net assets of $240k. It reported 6 employees.