Read Ahead Inc
- Assets
- $2.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 21
- Location
- New York, NY
- Founding
- 12/1991
- Data as of
- 09/2023
- EIN
- 13-3636559
Organization Overview
Read Ahead Inc is located in New York, NY. The organization was established in 1991. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2023, Read Ahead Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Read Ahead Inc 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 09/2023, Read Ahead Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $1.9m during the year ending 09/2023. While expenses have increased by 7.9% 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
READ AHEAD'S READING-BASED MENTORING DEVELOPS IN STUDENTS THE SOCIAL-EMOTIONAL SKILLS ESSENTIAL FOR ACADEMIC AND LIFE-LONG SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
READ AHEAD IS PROUD TO HAVE DELIVERED A HIGH-QUALITY READING-BASED MENTORING PROGRAM WEEKLY FROM OCTOBER 2022 - MAY 2023. OUR PROGRAM SERVED 500 1ST - 5TH GRADE STUDENTS ACROSS 8 PUBLIC ELEMENTARY SCHOOLS IN NEW YORK CITY WHERE THE MAJORITY OF STUDENTS ARE CHALLENGED BY POVERTY. WE ENGAGED 962 VOLUNTEER MENTORS FROM OVER 35 CORPORATE AND COMMUNITY PARTNERS WHO SUPPORTED STUDENTS TO DEVELOP LITERACY AND SOCIAL-EMOTIONAL SKILLS DURING WEEKLY READ AHEAD SESSIONS.DURING NEARLY 1,300 SESSIONS THROUGHOUT THE YEAR, READ AHEAD STUDENTS READ OVER 8,500 BOOKS WITH THEIR MENTORS AND MASTERED LITERACY STANDARDS VIA BOOKNOOK, A VIRTUAL LEARNING PLATFORM THAT TARGETS SKILLS IN FIVE DOMAINS OF LITERACY. 96% OF PARENTS AND CAREGIVERS WHO COMPLETED OUR SPRING SURVEY AGREED THAT THEIR CHILD(REN) BENEFITTED FROM READ AHEAD. READING ABILITY, SELF-CONFIDENCE IN READING, AND ENJOYMENT OF READING WERE THE TOP ACADEMIC BENEFITS CITED. PROGRAM ATTENDANCE FOR VOLUNTEERS AND STUDENTS (A MEASURE OF PROGRAM ENGAGEMENT) WAS 88% AND 89% RESPECTIVELY ACROSS THE YEAR. READ AHEAD ALSO HELD ITS FIRST IN-PERSON SESSIONS SINCE 2020 IN MAY, 2023, BRINGING TOGETHER OVER 800 VOLUNTEERS AND STUDENTS.IN MAY, 2023 READ AHEAD HELD ITS ANNUAL BOOKS & BEYOND GALA. OVER 300 GUESTS GATHERED TO RAISE CRITICAL FUNDS AND HONOR OUR LONGTIME PARTNER, TENEO, AND CELEBRATE A TEAM OF EDUCATORS FROM P.S. 51 IN MANHATTAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Allen Chair | OfficerTrustee | 2 | $0 |
Sean Fitzgerald Vice-Chair & Treasurer | OfficerTrustee | 2 | $0 |
Christopher Paci Secretary | OfficerTrustee | 2 | $0 |
Robert Abel Director | Trustee | 0.5 | $0 |
Jin Chun Director | Trustee | 0.5 | $0 |
Pamela Cogut-Weinstein Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,001,598 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $908,863 |
| Noncash contributions included in lines 1a–1f | $81,880 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,910,461 |
| Total Program Service Revenue | $0 |
| Investment income | $237 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $904 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,915,316 |
| 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. | $160,795 |
| Compensation of current officers, directors, key employees. | $8,039 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $854,860 |
| Pension plan accruals and contributions | $18,005 |
| Other employee benefits | $97,220 |
| Payroll taxes | $82,826 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $43,635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $131,106 |
| Advertising and promotion | $0 |
| Office expenses | $36,602 |
| Information technology | $74,370 |
| Royalties | $0 |
| Occupancy | $176,946 |
| Travel | $2,765 |
| 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 | $16,591 |
| Insurance | $29,675 |
| All other expenses | $9,082 |
| Total functional expenses | $1,859,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,265,373 |
| Pledges and grants receivable | $50,763 |
| 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 | $80,430 |
| Net Land, buildings, and equipment | $16,317 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $659,890 |
| Total assets | $2,072,773 |
| Accounts payable and accrued expenses | $102,927 |
| Grants payable | $0 |
| Deferred revenue | $231,566 |
| 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 | $635,518 |
| Total liabilities | $970,011 |
| Net assets without donor restrictions | $1,102,762 |
| Net assets with donor restrictions | $0 |
| 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 | $2,072,773 |