Team Read
- Assets
- $1.0m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Seattle, WA
- Founding
- 03/2006
- Data as of
- 08/2021
- EIN
- 01-0852888
Organization Overview
Team Read is located in Seattle, WA. The organization was established in 2006. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 08/2021, Team Read employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team Read is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Team Read generated $1.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $656.6k during the year ending 08/2021. While expenses have increased by 5.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE CLOSE EDUCATION OPPORTUNITY GAPS THROUGH A UNIQUE, CROSS-AGE, YEAR-ROUND ONE-TO-ONE TUTORING PROGRAM. OUR DUAL-IMPACT MODEL HELPS YOUNG STUDENTS DEVELOP READING SKILLS NECESSARY FOR ACADEMIC SUCCESS WHILE TEENS DEVELOP LIFE AND WORK SKILLS THROUGH A MEANINGFUL FIRST JOB.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YEAR-ROUND, ONE-TO-ONE TUTORING PROGRAM PROVIDED AT TITLE 1 SCHOOLS TO STUDENTS NOT AT GRADE-LEVEL PROFICIENCY IN READING. TUTORS ARE AREA TEENS RECRUITED AND TRAINED TO DELIVER READING SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Pailthorp Executive Dir. | Officer | 45 | $139,260 |
Chance Hunt President | OfficerTrustee | 2 | $0 |
Yolanda Eng Vice President | OfficerTrustee | 1 | $0 |
Matt Hrdlicka Treasurer | OfficerTrustee | 1 | $0 |
Seana Hayden Secretary | Trustee | 0.5 | $0 |
Eric Buley Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $159,386 |
| Related organizations | $0 |
| Government grants | $393,841 |
| All other contributions, gifts, grants, and similar amounts not included above | $463,479 |
| Noncash contributions included in lines 1a–1f | $29,572 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,016,706 |
| Total Program Service Revenue | $0 |
| Investment income | $16 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,869 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,014,853 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $146,424 |
| Compensation of current officers, directors, key employees. | $106,173 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,792 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,597 |
| Payroll taxes | $25,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $18,020 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,899 |
| Advertising and promotion | $0 |
| Office expenses | $6,421 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $455 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,288 |
| All other expenses | $1,104 |
| Total functional expenses | $656,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $550,762 |
| Savings and temporary cash investments | $195,088 |
| Pledges and grants receivable | $47,510 |
| Accounts receivable, net | $252,092 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $597 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,046,049 |
| Accounts payable and accrued expenses | $122,163 |
| Grants payable | $25,603 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $49,617 |
| Other liabilities | $0 |
| Total liabilities | $197,383 |
| Net assets without donor restrictions | $803,666 |
| Net assets with donor restrictions | $45,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,046,049 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Team Read has recieved totaling $348,664.
| Awarding Organization | Amount |
|---|---|
Discuren Charitable Foundation Seattle, WA PURPOSE: YEAR-ROUND READING TUTORING | $55,000 |
Liberty Mutual Foundation Inc Boston, MA PURPOSE: YEAR-ROUND TUTORING PROGRAM | $45,000 |
Liberty Mutual Foundation Inc Boston, MA PURPOSE: YEAR-ROUND TUTORING PROGRAM | $45,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $40,795 |
The Seattle Foundation Seattle, WA PURPOSE: TO PROVIDE GENERAL SUPPORT AS PROMPTED BY GIVEBIG; TO PROVIDE GENERAL SUPPORT; TEAM READ ROCKS; GENERAL OPERATING SUPPORT; TO PROVIDE SUPPORT FOR THE TEAM READ ROCKS CAMPAIGN | $31,262 |
Community Center For Education Results Seattle, WA PURPOSE: SUB-GRANT TO SUPPORT COMMUNITY-BASED PARTNER WORKING TOWARDS THE SHARED GOALS OF THE LOCAL IMPROVEMENT NETWORK. | $30,875 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Humanitae Advisors Seattle, WA | $9,991,179 | $3,132,979 |
Page Ahead Childrens Literacy Prgm Seattle, WA | $915,265 | $1,203,439 |
The Reading Foundation Kennewick, WA | $2,541,979 | $1,421,943 |
Literacy Source Seattle, WA | $581,873 | $1,208,747 |
Literacy Council Of Alaska Fairbanks, AK | $459,917 | $1,046,251 |
The Reading Foundation Kennewick, WA | $442,946 | $841,516 |
Ark Institute Of Learning Tacoma, WA | $1,235,357 | $818,511 |
Team Read Seattle, WA | $1,046,049 | $1,014,853 |
The Reading Foundation Lacey, WA | $324,644 | $370,404 |
Story Works Alaska Anchorage, AK | $75,887 | $0 |
Falis Community Service Kent, WA | $2,862 | $0 |
Street Books Portland, OR | $124,061 | $0 |