Reading Power Inc

Reading Power Inc shows consistent revenue and asset growth with no reported officer compensation.

EIN: 202916846 · Lake Bluff, IL · NTEE: O50 · Updated: 2026-03-28

$1.8MRevenue

$1.2MAssets

92/100Mission Score (Excellent)

O50

About Reading Power Inc

Reading Power Inc (EIN: 202916846) is a nonprofit organization based in Lake Bluff, IL, classified under NTEE code O50. The organization reported total revenue of $1.8M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Reading Power Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Reading Power Inc demonstrates a strong and consistent growth trajectory in revenue and assets over the past decade, indicating increasing support for its mission. For the fiscal period ending 202406, the organization reported revenue of $1,917,784 against expenses of $1,597,424, resulting in a healthy surplus. This surplus contributes to the growth in assets, which reached $1,359,797 in 202406, up from $336,616 in 201506. The organization's financial health appears robust, with a positive net asset position and a consistent ability to generate more revenue than expenses in most recent years.

The spending efficiency is commendable, particularly given that the organization consistently reports 0% officer compensation across all available filings. This suggests that resources are primarily directed towards programmatic activities and operational needs rather than executive salaries. While a detailed breakdown of program, administrative, and fundraising expenses isn't provided in the raw data, the absence of officer compensation is a strong indicator of efficient resource allocation. The organization's liabilities have fluctuated but remain manageable relative to its assets, with liabilities of $313,063 against assets of $1,359,797 in 202406.

In terms of transparency, the consistent filing of IRS Form 990s over 14 periods is a positive sign, demonstrating a commitment to public disclosure. The readily available financial data allows for a clear understanding of its financial operations and growth. The lack of reported officer compensation enhances its transparency profile, as it indicates that the organization is not burdened by high executive salaries, which can sometimes be a point of concern for donors. Overall, Reading Power Inc appears to be a financially sound and transparent organization.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Reading Power Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 7%
programs: 90%
fundraising: 3%

According to IRS 990 filings, Reading Power Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Reading Power Inc consistently reports 0% officer compensation across all 14 available IRS 990 filings, indicating that no salaries are paid to its officers. This is highly unusual for an organization of its size, with revenue reaching $1,917,784 in 202406, suggesting a strong reliance on volunteer leadership or that compensation is structured in a way not reported as officer compensation.

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 Reading Power Inc's IRS 990 filings:

Unusually low or zero reported officer compensation for an organization of this size, which might indicate compensation is reported under other categories or a heavy reliance on unpaid leadership.

Strengths

The following positive indicators were identified for Reading Power Inc:

Consistent and significant revenue growth, from $287,943 in 201506 to $1,917,784 in 202406.
Strong asset growth, increasing from $336,616 in 201506 to $1,359,797 in 202406.
Zero reported officer compensation across all 14 filings, suggesting high efficiency in resource allocation.
Healthy financial position with assets significantly exceeding liabilities (e.g., $1,359,797 assets vs. $313,063 liabilities in 202406).
Consistent filing of IRS Form 990s, indicating good transparency and compliance.

Frequently Asked Questions about Reading Power Inc

Is Reading Power Inc a good charity?

Based on the available financial data, Reading Power Inc appears to be a very good charity. It demonstrates strong financial health with consistent revenue and asset growth, and notably reports 0% officer compensation, suggesting a high dedication of resources to its mission.

How has Reading Power Inc's revenue grown over time?

Reading Power Inc has shown significant revenue growth, increasing from $287,943 in 201506 to $1,917,784 in 202406, representing an increase of over 560% in less than a decade.

What is the organization's asset-to-liability ratio?

For the fiscal period 202406, Reading Power Inc had assets of $1,359,797 and liabilities of $313,063, resulting in an asset-to-liability ratio of approximately 4.34:1, indicating a healthy financial position.

Filing History

IRS 990 filing history for Reading Power Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Reading Power Inc's revenue has grown by 695.1%, moving from $241K to $1.9M. Total assets increased by 299.1% over the same period, from $341K to $1.4M. Total functional expenses rose by 639.3%, from $216K to $1.6M. In its most recent filing year (2024), Reading Power Inc reported a surplus of $320K, with revenue exceeding expenses. The organization holds $313K in liabilities against $1.4M in assets (debt-to-asset ratio: 23.0%), resulting in net assets of $1.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$1.9M	$1.6M	$1.4M	$313K	—	View 990
2023	$1.2M	$1.4M	$1.2M	$405K	—	View 990
2022	$1.0M	$1.0M	$984K	$54K	—	View 990
2021	$864K	$757K	$927K	$7K	—	View 990
2020	$652K	$647K	$907K	$94K	—	View 990
2019	$840K	$601K	$810K	$2K	—	View 990
2018	$631K	$494K	$569K	$430	—	View 990
2017	$457K	$406K	$434K	$3K	—	View 990
2016	$411K	$368K	$380K	$0	—	View 990
2015	$288K	$373K	$337K	$0	—	View 990
2014	$326K	$315K	$441K	$20K	—	View 990
2013	$369K	$325K	$415K	$5K	—	View 990
2012	$315K	$267K	$390K	$23K	—	View 990
2011	$241K	$216K	$341K	$23K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $1.9M, expenses of $1.6M, and assets of $1.4M (revenue +54.3% year-over-year).
2023: Revenue of $1.2M, expenses of $1.4M, and assets of $1.2M (revenue +20.0% year-over-year).
2022: Revenue of $1.0M, expenses of $1.0M, and assets of $984K (revenue +19.9% year-over-year).
2021: Revenue of $864K, expenses of $757K, and assets of $927K (revenue +32.4% year-over-year).
2020: Revenue of $652K, expenses of $647K, and assets of $907K (revenue -22.4% year-over-year).
2019: Revenue of $840K, expenses of $601K, and assets of $810K (revenue +33.1% year-over-year).
2018: Revenue of $631K, expenses of $494K, and assets of $569K (revenue +38.1% year-over-year).
2017: Revenue of $457K, expenses of $406K, and assets of $434K (revenue +11.3% year-over-year).
2016: Revenue of $411K, expenses of $368K, and assets of $380K (revenue +42.6% year-over-year).
2015: Revenue of $288K, expenses of $373K, and assets of $337K (revenue -11.7% year-over-year).
2014: Revenue of $326K, expenses of $315K, and assets of $441K (revenue -11.6% year-over-year).
2013: Revenue of $369K, expenses of $325K, and assets of $415K (revenue +16.9% year-over-year).
2012: Revenue of $315K, expenses of $267K, and assets of $390K (revenue +30.8% year-over-year).
2011: Revenue of $241K, expenses of $216K, and assets of $341K.

Data Sources and Methodology

This transparency report for Reading Power 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.