The Reading Foundation

Analysis

The Reading Foundation is a registered charity in United States, based in Kennewick, WA. It received its IRS tax-exemption ruling in August 1997, 29 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, The Reading Foundation reported income of $1.2m and spending of $1.2m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.2m (+24%), an average of +5.6% a year. The sharpest change came in the year to June 2021, when income rose by 241%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Reading Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within WA. Charities of a similar size with the same main cause include Tomorrows Youth Organization ($1.2m), Surry Village Charter School ($1.2m) and James Prendergast Library Association ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% of the total. Compensation of current officers, directors and key employees was $151k (13% of expenses). Other salaries and wages came to $144k. At year end it held assets of $2.6m against liabilities of $24k, net assets of $2.6m. It reported 6 employees.