Reading Power Inc

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Reading Power Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Reading Power Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Reading Power Inc in one place.

Is Reading Power Inc Legit?

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Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Across stored filings, Reading Power Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Request a concise report for Reading Power Inc with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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Reading Power Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

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.

Organization Overview

Reading Power Inc is a mid-size nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 17.3%.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2024, Reading Power Inc reported a surplus of $320K with revenue exceeding expenses, holds 10.2 months of operating reserves (strong position), has a debt-to-asset ratio of 23.0% (moderate leverage).

Financial Trends

Over 14 years of filings (2011–2024), Reading Power Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.3%.

IRS Tax-Exempt Classification

Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.

AI Transparency Report

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.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $320K, with revenue exceeding expenses.
• Debt-to-asset ratio: 23.0%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Reading Power Inc:

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.