Reading Engineering Teams Inc
- Assets
- $44.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Reading, MA
- Founding
- 09/2014
- Data as of
- 08/2022
- EIN
- 46-5231808
Organization Overview
Reading Engineering Teams Inc is located in Reading, MA. The organization was established in 2014. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reading Engineering Teams 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 08/2022, Reading Engineering Teams Inc generated $7.1k 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 (22.1%) each year. All expenses for the organization totaled $12.4k during the year ending 08/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
SUPPORT READING MEMORIAL HIGH SCHOOL FRC ROBOTICS TEAM IN BUILDING COMPETITION ROBOT AND ATTENDING NE FIRST COMPETITIONS VIRTUALLY. TWENTY-NINE (29) STUDENTS AND 10 ADULT MENTORS PARTICIPATED IN THIS PROGRAM IN 2020-21. THROUGH OUTREACH ACTIVITIES (IE. SCIENCE EXPO AND LIBRARY EVENTS), THE TEAM INSPIRES APPRECIATION FOR STEM WITHIN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sanat Patel President | 1 | $0 | |
Scott Wolter Treasurer | 2 | $0 | |
Lynn Wolter Clerk | 0.5 | $0 | |
Robert Hayes Director | 0 | $0 | |
David Ventola Director | 0 | $0 | |
Carmine Mazzarella Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,500 |
| Total Program Service Revenue | $0 |
| Membership dues | $287 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $4,312 |
| Other Revenue | $0 |
| Total Revenue | $7,099 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $12,354 |
| Total expenses | $12,354 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $44,893 |
| Other assets | $0 |
| Total assets | $44,893 |
| Total liabilities | $0 |
| Net assets or fund balances | $44,893 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Reading Engineering Teams Inc has recieved totaling $13.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ny Creates Albany, NY | $99,965 | $4,450,000 |
Western New York Technology Development Center Inc Buffalo, NY | $1,286,247 | $2,858,472 |
The Asme Foundation Inc New York, NY | $33,818,246 | $3,028,197 |
Cortico Corporation Boston, MA | $3,352,303 | $987,674 |
Mit Real Estate Foundation Inc Cambridge, MA | $3,185,000 | -$155,000 |
Hudson Valley Technology Development Center Inc Newburgh, NY | $824,479 | $1,255,790 |
International First Committee Association Manchester, NH | $2,287,995 | $919,576 |
Engineering Conferences International Inc New York, NY | $3,118,614 | $313,156 |
Brokaw Family Foundation Merrimack, NH | $4,131,332 | $152,642 |
New Hampshire Tech Alliance Manchester, NH | $288,906 | $429,424 |
Illuminating Engineering Society New York, NY | $1,760,270 | $405,029 |
Open Environmental Data Inc Hudson, NY | $569,068 | $817,377 |