Read To Lead Inc
- Assets
- $3.9m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 18
- Location
- New York, NY
- Founding
- 08/1992
- Data as of
- 06/2022
- EIN
- 13-3666846
Organization Overview
Read To Lead Inc is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2022, Read To Lead Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Read To Lead 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 06/2022, Read To Lead Inc generated $3.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $3.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP STUDENTS IN HIGH-POVERTY COMMUNITIES BUILD LITERACY AND LEADERSHIP SKILLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURRICULUM & RESOURCES FOR EDUCATORS: READ TO LEAD, INC. CREATES DIGITAL LEARNING GAMES AND CURRICULUM SET IN THE PROFESSIONAL WORLD THAT FOSTER STUDENTS' LITERACY AND LEADERSHIP SKILLS AND CONNECT SCHOOL TO LIFE IN THE WORKPLACE. OUR SUITE OF LITERACY LEARNING GAMES, THE READ TO LEAD SERIES, HELPS STUDENTS DEVELOP ADVANCED LITERACY SKILLS, INCREASES CAREER READINESS, AND BUILDS 21ST CENTURY SKILLS SUCH AS PERSISTENCE AND DECISION-MAKING. THE LEARNING GAMES, CURRICULUM, ALONG WITH PROFESSIONAL DEVELOPMENT RESOURCES FOR EDUCATORS ARE FREELY ACCESSIBLE ONLINE FOR BOTH SCHOOL DAY AND OUT-OF-SCHOOL TIME USE.THROUGH ITS DIGITAL PLATFORM, READ TO LEAD, INC. REACHES EDUCATORS AND STUDENTS NATIONWIDE. ANY EDUCATOR CAN REGISTER FOR FREE AND HAVE ACCESS TO READ TO LEAD, INC.'S LEARNING GAMES AND CURRICULUM.
DIRECT SUPPORT TO PARTNERS: READ TO LEAD, INC. PARTNERS WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS IN HIGH-POVERTY COMMUNITIES ACROSS THE UNITED STATES TO PROVIDE TURN-KEY CURRICULUM AND RESOURCES, ALONG WITH UNIQUE WORKPLACE LITERACY LEARNING GAME EXPERIENCES, TO SUPPORT SCHOOL DAY AND OUT-OF-SCHOOL TIME LEARNING AND ENGAGEMENT.IN ADDITION, TO IMPROVE STUDENT OUTCOME READ TO LEAD, INC. OFFERS EDUCATORS IN-PERSON AND VIRTUAL COACHING SUPPORT AND TRANSFORMS THE WAY EDUCATORS USE PROJECT-BASED AND PERSONALIZED LEARNING TOOLS. SOME OF READ TO LEAD, INC.'S SCHOOL PARTNER SITES ALSO SERVE AS OUR "LEARNING LABS," INFORMING OUR DIGITAL PRODUCTION AND ENSURING THAT WE ARE ALWAYS DESIGNING FROM REAL-LIFE EXPERIENCE.
RESEARCH AND ASSESSMENT: READ TO LEAD, INC. CONDUCTS RESEARCH TO ASSESS THE IMPACT OF ITS PROGRAMS ON STUDENTS AND TO PROVIDE REGULAR FEEDBACK THAT ENABLES CONTINUOUS IMPROVEMENT. BOTH INTERNAL AND EXTERNAL EVALUATIONS HAVE CONSISTENTLY SHOWN THAT OUR PROGRAMS EFFECTIVELY IMPROVE STUDENTS' LITERACY, READING ATTITUDES AND BEHAVIORS, 21ST CENTURY SKILLS, AND COLLEGE - AND CAREER-READINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Oliver Executive Director (thru 01/22) | Officer | 35 | $211,886 |
Kevin Bedeau Vp Digital Product Strategy (thru 02/22) | Officer | 40 | $163,079 |
Nicholas Haynes Man. Dir., Development | 40 | $144,217 | |
Kwamara Thompson Man Dir Programs & Partnerships (thru 12/21) | 40 | $123,483 | |
Juliana Hess Dir., Research & Learning Design | 40 | $111,802 | |
Nicholas Overton Dir., Software Engineering | 40 | $106,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Astea Solutions Inc Software Development | 6/29/22 | $400,000 |
Your Part-time Controller Llc Accounting Services | 6/29/22 | $145,763 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $100,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,809,834 |
| Noncash contributions included in lines 1a–1f | $108,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,909,834 |
| Total Program Service Revenue | $30,000 |
| Investment income | $3,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $696 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,177,958 |
| 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. | $327,716 |
| Compensation of current officers, directors, key employees. | $215,431 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $861,716 |
| Pension plan accruals and contributions | $46,996 |
| Other employee benefits | $50,172 |
| Payroll taxes | $109,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $177,970 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $535,452 |
| Advertising and promotion | $132,108 |
| Office expenses | $129,552 |
| Information technology | $76,277 |
| Royalties | $0 |
| Occupancy | $405,682 |
| Travel | $14,242 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,693 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $745,634 |
| Insurance | $24,519 |
| All other expenses | $0 |
| Total functional expenses | $3,697,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $632,447 |
| Savings and temporary cash investments | $395,183 |
| Pledges and grants receivable | $25,050 |
| 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 | $50,689 |
| Net Land, buildings, and equipment | $45,335 |
| Investments—publicly traded securities | $2,700,459 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $41,038 |
| Other assets | $11,184 |
| Total assets | $3,901,385 |
| Accounts payable and accrued expenses | $610,237 |
| Grants payable | $0 |
| 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 | $21,460 |
| Total liabilities | $631,697 |
| Net assets without donor restrictions | $2,929,688 |
| Net assets with donor restrictions | $340,000 |
| 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 | $3,901,385 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Read To Lead Inc has recieved totaling $490,226.
| Awarding Organization | Amount |
|---|---|
Gilder Foundation Inc New York, NY PURPOSE: EDUCATION | $150,000 |
Donors Trust Inc Alexandria, VA PURPOSE: for general operations | $125,000 |
Pinkerton Foundation New York, NY PURPOSE: AFTER SCHOOL & SUMMER LEARNING | $60,000 |
S & L Marx Foundation Inc Wilmington, DE PURPOSE: SOCIAL EMOTIONAL LEARNING INITIATIVE | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $30,134 |
Hyde And Watson Foundation Warren Township, NJ PURPOSE: PURCHASE OF EQUIPMENT. | $15,000 |
Endowment Analysis
| Beg. Balance | $250,000 |
| Ending Balance | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bellwether Education Partners Inc Sudbury, MA | $12,819,060 | $18,147,451 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
Vhs Inc Maynard, MA | $2,159,485 | $7,029,751 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
More Than Words Inc Boston, MA | $15,091,779 | $6,459,719 |
Local Union 164 Electrical Joint Apprenticeship And Training Trust Paramus, NJ | $19,017,559 | $4,299,279 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Vermont Adult Learning Inc Waitsfield, VT | $1,289,780 | $4,391,996 |
Connecticut Center For Arts & Technology Inc New Haven, CT | $3,075,426 | $11,576,748 |
Chronic Liver Disease Foundation Inc Clark, NJ | $1,027,147 | $3,658,520 |
Read To Lead Inc New York, NY | $3,901,385 | $3,177,958 |