Team Read
- Assets
- $2.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 12
- Location
- Seattle, WA
- Founding
- 03/2006
- Data as of
- 08/2023
- 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 08/2023, Team Read employed 12 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 08/2023, Team Read generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $714.3k during the year ending 08/2023. While expenses have increased by 5.5% per year over the past 8 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
2023
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
TEAM READ IS A YEAR-ROUND READING TUTORING AND YOUTH EMPLOYMENT AND DEVELOPMENT PROGRAM THAT PAIRS CAREFULLY TRAINED 8TH-12TH GRADE PAID TEEN READING COACHES WITH TEACHER-IDENTIFIED 2ND-4TH GRADE READERS WHO WOULD BENEFIT FROM ONE-ON-ONE READING TUTORING AND MENTORING SUPPORT. OUR MODEL HAS DUAL INTENTION AND IMPACTTEEN READING COACHES GAIN CRITICAL LIFE AND WORK SKILLS AND THEIR 2ND-4TH GRADE STUDENTS BECOME BETTER, MORE CONFIDENT READERS. CURRENT SERVICE AREAS ARE IN THE HIGH-POVERTY SCHOOLS WITHIN SEATTLE, HIGHLINE, TUKWILA, AND RENTON SCHOOL DISTRICTS. DURING THE 2022-23 SCHOOL YEAR, WE ENROLLED 494 READERS WHO WERE TUTORED BY 393 TEEN READING COACHES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yolanda Eng President | OfficerTrustee | 4 | $0 |
Matt Hrdlicka Vice President | OfficerTrustee | 2 | $0 |
Ingrid Stegemoeller Secretary | OfficerTrustee | 1 | $0 |
Veronica Cook Treasurer | OfficerTrustee | 2 | $0 |
Anjali Bhagat Board Member | Trustee | 1 | $0 |
Matt Kostecka Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $103,065 |
| Related organizations | $0 |
| Government grants | $415,770 |
| All other contributions, gifts, grants, and similar amounts not included above | $603,666 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,122,501 |
| Total Program Service Revenue | $0 |
| Investment income | $5,919 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,129 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,119,686 |
| 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. | $142,717 |
| Compensation of current officers, directors, key employees. | $43,649 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $216,747 |
| Pension plan accruals and contributions | $2,286 |
| Other employee benefits | $16,727 |
| Payroll taxes | $30,642 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,609 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $23,150 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,801 |
| Advertising and promotion | $0 |
| Office expenses | $13,165 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,536 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,515 |
| All other expenses | $1,424 |
| Total functional expenses | $714,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,077,730 |
| Savings and temporary cash investments | $194,362 |
| Pledges and grants receivable | $213,692 |
| Accounts receivable, net | $0 |
| 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 | $3,750 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $557,130 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,046,664 |
| Accounts payable and accrued expenses | $149,395 |
| Grants payable | $2,500 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $151,895 |
| Net assets without donor restrictions | $1,649,769 |
| Net assets with donor restrictions | $245,000 |
| 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 | $2,046,664 |