Quick charity verification for Read Ministries Inc (EIN: 200222800)
Verdict: Read Ministries Inc appears trustworthy
88/100Mission Score
$666KRevenue
$497KAssets
1Red Flags
5Strengths
Red Flags
Expenses exceeded revenue in the latest filing (202312) by $48,646, leading to a decrease in net assets.
Strengths
Consistent asset growth over the past decade, from $130,589 in 2014 to $406,534 in 2023.
0% officer compensation reported across all filings, indicating high efficiency and dedication of funds to mission.
Very low liabilities, suggesting strong financial management and minimal debt.
Strong program focus implied by the absence of executive compensation and consistent operations.
Consistent filing of IRS Form 990s, demonstrating good transparency.
Spending Breakdown
How Read Ministries Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Read Ministries Inc
Is Read Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Read Ministries Inc (EIN: 200222800) appears trustworthy. Mission Score: 88/100. 1 red flag identified, 5 strengths noted.
Is Read Ministries Inc a good charity to donate to?
Read Ministries Inc has a Mission Score of 88/100. Revenue: $666K. Assets: $497K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Read Ministries Inc?
The Employer Identification Number (EIN) for Read Ministries Inc is 200222800. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Read Ministries Inc spend its money?
Read Ministries Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Read Ministries Inc's tax-exempt status?
You can verify Read Ministries Inc's tax-exempt status using EIN 200222800 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Read Ministries Inc demonstrates generally sound financial health, though with some fluctuations in recent years. In the latest filing (202312), the organization reported expenses exceeding revenue by $48,646 ($550,970 expenses vs. $502,324 revenue), leading to a decrease in net assets. However, the prior year (202212) showed a healthy surplus of over $160,000. The organization's assets have shown consistent growth over the past decade, from $130,589 in 2014 to $406,534 in 2023, indicating a build-up of financial reserves. Liabilities remain very low, suggesting good financial management and minimal debt burden.
Spending efficiency appears strong, particularly given the consistent reporting of 0% officer compensation across all available filings, which is a significant positive indicator for a nonprofit. This suggests that a very high proportion of funds are directed towards program activities and operational costs rather than executive salaries. The organization's transparency is commendable through its consistent filing of IRS Form 990s, providing a clear historical record of its financial activities.
While the recent deficit in 2023 warrants monitoring, the overall trend of asset growth and the absence of executive compensation point to a well-managed and program-focused organization. The fluctuations in revenue and expenses are not uncommon for smaller nonprofits and should be viewed in the context of their long-term financial stability and commitment to their mission.