Read 718
- Assets
- $827.5k
- Revenue
- $744.5k
- Investments
- $0.0
- Employees
- 12
- Location
- Brooklyn, NY
- Founding
- 06/2014
- Data as of
- 07/2023
- EIN
- 46-4080472
Organization Overview
Read 718 is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 07/2023, Read 718 employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Read 718 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 07/2023, Read 718 generated $744.5k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 29.9% each year . All expenses for the organization totaled $695.8k during the year ending 07/2023. While expenses have increased by 31.7% 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 718 PROVIDES FREE OR VERY LOW COST ONE-TO-ONE LITERACY INSTRUCTION TO STUDENTS FROM LOW-INCOME FAMILIES IN GRADES 1-8 IN BROOKLYN
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE 2022-23 SCHOOL YEAR, READ 718 SERVED 210 CHILDREN, PROVIDING OVER 8,000 HOURS OF ONE-TO-ONE AND SMALL GROUP INSTRUCTION. FOR EACH 10 WEEK CYCLE, WE SERVED BETWEEN 55-65 STUDENTS IN READ 718 AFTER SCHOOL (IN-PERSON, IN OUR TWO LITERACY CENTERS) AND BETWEEN 45-55 STUDENTS IN READ 718 REMOTE (THE ONLINE VERSION OF OUR CORE AFTER SCHOOL PROGRAM). IN ADDITION, WE SERVED 115 STUDENTS ACROSS ALL OF OUR SUMMER 2023 PROGRAMMING, WHICH INCLUDES SUMMER READING ROOM (IN PERSON AND REMOTE), RISING READERS, AND WORD UP. WHILE READ 718 AFTER SCHOOL AND READ 718 REMOTE ARE OUR TWO LARGEST PROGRAMS, SERVING A COMBINED 143 STUDENTS LAST YEAR, OVER THE COURSE OF THE ACADEMIC YEAR WE ALSO SERVED 11 CHILDREN IN READ UP, 21 STUDENTS IN SATURDAY READING ROOM, 16 CHILDREN IN RISING READERS, AND 12 CHILDREN IN WORD UP. EXPANDED PROGRAMMING: WE ARE PROUD OF THE BREADTH OF PROGRAMMING THAT WE OFFER TO OUR COMMUNITY AND OF OUR RESPONSIVENESS IN CREATING PROGRAMS THAT MEET OUR STUDENTS WHERE THEY ARE IN THEIR LITERACY DEVELOPMENT. IN THE PAST YEAR, IN RESPONSE TO OUR STUDENTS' NEEDS, WE ADDED TWO NEW PROGRAMS: RISING READERS AND WORD UP. RISING READERS IS A SUMMER PROGRAM OFFERED TO RISING 3RD GRADERS WHO NEED SYSTEMATIC, SEQUENTIAL PHONICS INSTRUCTION; AND WORD UP IS A SUMMER PROGRAM DESIGNED FOR 4TH AND 5TH GRADERS WHO NEED ADDITIONAL SUPPORT IN WORD IDENTIFICATION AND SPELLING. WE SERVED 18 STUDENTS IN THOSE TWO PROGRAMS LAST YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rai-Tonicia King Chair | OfficerTrustee | 1 | $0 |
Pamela Atkins Vice Chair | OfficerTrustee | 1 | $0 |
Emily Kirven Executive Director | OfficerTrustee | 40 | $62,210 |
Francesca Altema Director | Trustee | 1 | $0 |
Kim Bourne Director | Trustee | 1 | $0 |
Keith Brooks Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $87,813 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $643,891 |
| Noncash contributions included in lines 1a–1f | $7,350 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $731,704 |
| Total Program Service Revenue | $10,187 |
| Investment income | $1,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $744,534 |
| 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. | $79,156 |
| Compensation of current officers, directors, key employees. | $19,789 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $353,817 |
| Pension plan accruals and contributions | $2,243 |
| Other employee benefits | $45,901 |
| Payroll taxes | $31,998 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $10,505 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,246 |
| Advertising and promotion | $5,510 |
| Office expenses | $38,463 |
| Information technology | $2,730 |
| Royalties | $0 |
| Occupancy | $46,000 |
| Travel | $329 |
| 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 | $12,337 |
| Insurance | $10,257 |
| All other expenses | $0 |
| Total functional expenses | $695,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $439,519 |
| Savings and temporary cash investments | $313,986 |
| Pledges and grants receivable | $0 |
| 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 | $9,977 |
| Net Land, buildings, and equipment | $64,052 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $827,534 |
| Accounts payable and accrued expenses | $12,647 |
| 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 | $0 |
| Total liabilities | $12,647 |
| Net assets without donor restrictions | $814,887 |
| 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 | $827,534 |