Reading Connections Inc
EIN: 561726754 · Greensboro, NC
| Metric | Value |
|---|---|
| Total Revenue | $934K |
| Total Expenses | $1.2M |
| Net Assets | $461K |
Is Reading Connections Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Reading Connections Inc
Reading Connections Inc (EIN: 561726754) is a nonprofit organization based in Greensboro, NC. The organization reported total revenue of $934K and total assets of $464K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Reading Connections Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Reading Connections Inc is a small nonprofit that has been operating for 34 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 3.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $967K |
| Total Expenses | $1.2M |
| Surplus / Deficit | $-215,752 |
| Total Assets | $737K |
| Total Liabilities | $275K |
| Net Assets | $461K |
| Operating Margin | -22.3% |
| Debt-to-Asset Ratio | 37.4% |
| Months of Reserves | 7.5 months |
Financial Health Grade: B
In 2024, Reading Connections Inc reported a deficit of $216K with expenses exceeding revenue, holds 7.5 months of operating reserves (strong position), has a debt-to-asset ratio of 37.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Reading Connections Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +12.6% | +35.5% | +3.7% |
| 2023 | -2.0% | +8.2% | +3.4% |
| 2022 | +15.1% | -3.9% | -11.5% |
| 2021 | -6.1% | +0.4% | -5.4% |
| 2020 | -4.5% | +6.0% | +16.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1992 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Reading Connections 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 Reading Connections 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $216K, with expenses exceeding revenue.
- Debt-to-asset ratio: 37.4%.
Frequently Asked Questions about Reading Connections Inc
Is Reading Connections Inc a legitimate charity?
Reading Connections Inc (EIN: 561726754) is a registered tax-exempt nonprofit based in North Carolina. It has 13 years of IRS 990 filings on record. Total revenue: $934K. No red flags identified. Financial health grade: B.
How does Reading Connections Inc spend its money?
Reading Connections Inc reported $934K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Reading Connections Inc tax-deductible?
Reading Connections Inc is registered as a tax-exempt nonprofit (EIN: 561726754). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Reading Connections Inc located?
Reading Connections Inc is headquartered in Greensboro, North Carolina and files with the IRS under EIN 561726754.
How many years of IRS 990 filings does Reading Connections Inc have?
Reading Connections Inc has 13 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 $934K in total revenue.
Filing History
IRS 990 filing history for Reading Connections Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Reading Connections Inc's revenue has grown by 51.9%, moving from $637K to $967K. Total assets increased by 35.3% over the same period, from $544K to $737K. Total functional expenses rose by 88.7%, from $627K to $1.2M. In its most recent filing year (2024), Reading Connections Inc reported a deficit of $216K, with expenses exceeding revenue. The organization holds $275K in liabilities against $737K in assets (debt-to-asset ratio: 37.4%), resulting in net assets of $461K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $967K | $1.2M | $737K | $275K | — | — |
| 2023 | $859K | $873K | $710K | $44K | — | View 990 |
| 2022 | $876K | $806K | $687K | $16K | — | View 990 |
| 2021 | $761K | $839K | $776K | $150K | — | — |
| 2020 | $810K | $836K | $820K | $147K | — | View 990 |
| 2019 | $848K | $789K | $707K | $8K | — | View 990 |
| 2018 | $777K | $719K | $649K | $13K | — | View 990 |
| 2017 | $700K | $617K | $585K | $14K | — | View 990 |
| 2016 | $549K | $571K | $487K | $10K | — | View 990 |
| 2015 | $578K | $527K | $516K | $11K | — | View 990 |
| 2014 | $539K | $608K | $459K | $5K | — | View 990 |
| 2013 | $612K | $629K | $523K | $13K | — | View 990 |
| 2012 | $637K | $627K | $544K | $26K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $967K, expenses of $1.2M, and assets of $737K (revenue +12.6% year-over-year).
- 2023: Revenue of $859K, expenses of $873K, and assets of $710K (revenue -2.0% year-over-year).
- 2022: Revenue of $876K, expenses of $806K, and assets of $687K (revenue +15.1% year-over-year).
- 2021: Revenue of $761K, expenses of $839K, and assets of $776K (revenue -6.1% year-over-year).
- 2020: Revenue of $810K, expenses of $836K, and assets of $820K (revenue -4.5% year-over-year).
- 2019: Revenue of $848K, expenses of $789K, and assets of $707K (revenue +9.1% year-over-year).
- 2018: Revenue of $777K, expenses of $719K, and assets of $649K (revenue +11.0% year-over-year).
- 2017: Revenue of $700K, expenses of $617K, and assets of $585K (revenue +27.7% year-over-year).
- 2016: Revenue of $549K, expenses of $571K, and assets of $487K (revenue -5.1% year-over-year).
- 2015: Revenue of $578K, expenses of $527K, and assets of $516K (revenue +7.3% year-over-year).
- 2014: Revenue of $539K, expenses of $608K, and assets of $459K (revenue -11.9% year-over-year).
- 2013: Revenue of $612K, expenses of $629K, and assets of $523K (revenue -3.9% year-over-year).
- 2012: Revenue of $637K, expenses of $627K, and assets of $544K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Reading Connections Inc:
Data Sources and Methodology
This transparency report for Reading Connections 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.