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 July 2001, 25 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 $885k and spending of $687k, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $608k to $885k (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2021, when income rose by 36%. Over the whole period it spent 94% 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 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within WA. Charities of a similar size with the same main cause include Medina Parent Teacher Association ($885k), Winchester Scholarship Foundation ($885k) and Chinese Friendship Association of Portland ($885k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.5% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $83k (12% of expenses). Other salaries and wages came to $258k. At year end it held assets of $595k against liabilities of $40k, net assets of $554k. It reported 19 employees.