Read Foundation Inc
EIN: 391892801 · Milwaukee, WI · NTEE: T22Z
| Metric | Value |
|---|---|
| Total Revenue | $274K |
| Total Expenses | $167K |
| Net Assets | $619K |
Is Read Foundation Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Read Foundation Inc
Read Foundation Inc (EIN: 391892801) is a nonprofit organization based in Milwaukee, WI, classified under NTEE code T22Z. The organization reported total revenue of $274K and total assets of $472K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Read Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Read Foundation Inc is a small nonprofit that has been operating for 29 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $122K |
| Total Expenses | $167K |
| Surplus / Deficit | $-44,209 |
| Total Assets | $619K |
| Total Liabilities | $1 |
| Net Assets | $619K |
| Operating Margin | -36.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 44.6 months |
Financial Health Grade: B
In 2023, Read Foundation Inc reported a deficit of $44K with expenses exceeding revenue, holds 44.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Read Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -17.1% | +42.5% | -6.7% |
| 2022 | +65.8% | -6.9% | +4.9% |
| 2021 | -54.1% | +2.5% | -5.5% |
| 2020 | +5.3% | +2.7% | +11.9% |
| 2019 | +126.1% | +3.9% | -12.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Read Foundation Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Read Foundation Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $44K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Read Foundation Inc
Is Read Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Read Foundation Inc (EIN: 391892801) insufficient data. 0 red flags identified, 0 strengths noted.
How does Read Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Read Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Read Foundation Inc tax-deductible?
Read Foundation Inc is registered as a tax-exempt nonprofit (EIN: 391892801). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Read Foundation Inc located?
Read Foundation Inc is headquartered in Milwaukee, Wisconsin and files with the IRS under EIN 391892801. It is classified under NTEE code T22Z.
How many years of IRS 990 filings does Read Foundation Inc have?
Read Foundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $274K in total revenue.
Filing History
IRS 990 filing history for Read Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Read Foundation Inc's revenue has declined by 3.6%, moving from $127K to $122K. Total assets decreased by 35.4% over the same period, from $959K to $619K. Total functional expenses fell by 55.8%, from $376K to $167K. In its most recent filing year (2023), Read Foundation Inc reported a deficit of $44K, with expenses exceeding revenue. The organization holds $1 in liabilities against $619K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $619K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $122K | $167K | $619K | $1 | — | View 990 |
| 2022 | $148K | $117K | $664K | $1 | — | View 990 |
| 2021 | $89K | $125K | $633K | $1 | — | — |
| 2020 | $194K | $122K | $669K | $1 | — | — |
| 2019 | $184K | $119K | $598K | $1 | — | View 990 |
| 2015 | $81K | $115K | $681K | $1 | — | View 990 |
| 2014 | $75K | $36K | $715K | $1 | — | View 990 |
| 2013 | $57K | $78K | $675K | $1 | — | View 990 |
| 2012 | $62K | $324K | $697K | $0 | — | View 990 |
| 2011 | $127K | $376K | $959K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $122K, expenses of $167K, and assets of $619K (revenue -17.1% year-over-year).
- 2022: Revenue of $148K, expenses of $117K, and assets of $664K (revenue +65.8% year-over-year).
- 2021: Revenue of $89K, expenses of $125K, and assets of $633K (revenue -54.1% year-over-year).
- 2020: Revenue of $194K, expenses of $122K, and assets of $669K (revenue +5.3% year-over-year).
- 2019: Revenue of $184K, expenses of $119K, and assets of $598K (revenue +126.1% year-over-year).
- 2015: Revenue of $81K, expenses of $115K, and assets of $681K (revenue +7.9% year-over-year).
- 2014: Revenue of $75K, expenses of $36K, and assets of $715K (revenue +32.3% year-over-year).
- 2013: Revenue of $57K, expenses of $78K, and assets of $675K (revenue -7.5% year-over-year).
- 2012: Revenue of $62K, expenses of $324K, and assets of $697K (revenue -51.5% year-over-year).
- 2011: Revenue of $127K, expenses of $376K, and assets of $959K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Read Foundation Inc:
Data Sources and Methodology
This transparency report for Read Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.