Reader Mood Mcclary Foundation Inc
Reader Mood Mcclary Foundation consistently operates at a deficit, relying on substantial assets while reporting no officer compensation.
EIN: 201486711 · Charleston, SC · NTEE: T22 · Updated: 2026-03-28
Is Reader Mood Mcclary Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Reader Mood Mcclary Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Reader Mood Mcclary Foundation Inc
Reader Mood Mcclary Foundation Inc (EIN: 201486711) is a nonprofit organization based in Charleston, SC, classified under NTEE code T22. The organization reported total revenue of $309K and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Reader Mood Mcclary Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Reader Mood Mcclary Foundation Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Reader Mood Mcclary Foundation Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is a positive sign for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Reader Mood Mcclary Foundation Inc's IRS 990 filings:
- Consistent operational deficits (e.g., 2023 expenses $106,796 vs. revenue $49,023)
- Significant fluctuation in annual revenue and expenses without clear explanation in provided data
Strengths
The following positive indicators were identified for Reader Mood Mcclary Foundation Inc:
- Substantial asset base ($1,801,771 latest, $1,759,051 in 2023) providing financial stability
- Minimal liabilities (consistently $1 or $0 across filings)
- 0% reported officer compensation, indicating efficient use of funds at the leadership level
Frequently Asked Questions about Reader Mood Mcclary Foundation Inc
Is Reader Mood Mcclary Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Reader Mood Mcclary Foundation Inc (EIN: 201486711) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Reader Mood Mcclary Foundation Inc spend its money?
Reader Mood Mcclary Foundation Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Reader Mood Mcclary Foundation Inc tax-deductible?
Reader Mood Mcclary Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201486711). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Reader Mood Mcclary Foundation Inc. financially sustainable given its consistent operational deficits?
The foundation has consistently reported expenses exceeding revenue in recent years (e.g., $106,796 expenses vs. $49,023 revenue in 2023). However, it maintains substantial assets ($1,759,051 in 2023) which likely cover these deficits, suggesting sustainability is tied to its endowment's performance rather than annual fundraising.
What is the primary source of funding for the organization, given the fluctuating and often low revenue figures compared to assets?
While specific sources aren't detailed, the large asset base and relatively low, fluctuating annual revenues suggest that the organization primarily operates as a grant-making or endowed foundation, with investment returns from its assets likely being a significant, if not primary, source of funding for its operations and programs.
How does the organization manage to operate with zero reported officer compensation?
The consistent reporting of 0% officer compensation implies that the organization's leadership and governance are likely carried out by volunteers, or that any compensation is structured in a way that it is not reported under this specific category on the IRS 990.
Filing History
IRS 990 filing history for Reader Mood Mcclary Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Reader Mood Mcclary Foundation Inc's revenue has grown by 36759.4%, moving from $133 to $49K. Total assets increased by 2310.1% over the same period, from $73K to $1.8M. Total functional expenses rose by 1425.2%, from $7K to $107K. In its most recent filing year (2023), Reader Mood Mcclary Foundation Inc reported a deficit of $58K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $49K | $107K | $1.8M | $1 | — | View 990 |
| 2022 | $135K | $134K | $1.8M | $1 | — | View 990 |
| 2021 | $119K | $123K | $2.2M | $1 | — | — |
| 2020 | $80K | $123K | $2.0M | $1 | — | — |
| 2019 | $84K | $102K | $2.0M | $0 | — | View 990 |
| 2015 | $49 | $4K | $55K | $0 | — | View 990 |
| 2014 | $76 | $4K | $59K | $0 | — | View 990 |
| 2013 | $76 | $5K | $63K | $0 | — | View 990 |
| 2012 | $155 | $5K | $68K | $0 | — | View 990 |
| 2011 | $133 | $7K | $73K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $49K, expenses of $107K, and assets of $1.8M (revenue -63.7% year-over-year).
- 2022: Revenue of $135K, expenses of $134K, and assets of $1.8M (revenue +13.3% year-over-year).
- 2021: Revenue of $119K, expenses of $123K, and assets of $2.2M (revenue +48.2% year-over-year).
- 2020: Revenue of $80K, expenses of $123K, and assets of $2.0M (revenue -3.7% year-over-year).
- 2019: Revenue of $84K, expenses of $102K, and assets of $2.0M (revenue +170328.6% year-over-year).
- 2015: Revenue of $49, expenses of $4K, and assets of $55K (revenue -35.5% year-over-year).
- 2014: Revenue of $76, expenses of $4K, and assets of $59K (revenue +0.0% year-over-year).
- 2013: Revenue of $76, expenses of $5K, and assets of $63K (revenue -51.0% year-over-year).
- 2012: Revenue of $155, expenses of $5K, and assets of $68K (revenue +16.5% year-over-year).
- 2011: Revenue of $133, expenses of $7K, and assets of $73K.
Data Sources and Methodology
This transparency report for Reader Mood Mcclary 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.