Read To Achieve Foundation
- Assets
- $977.5k
- Revenue
- $399.7k
- Investments
- $599.0k
- Employees
- 0
- Location
- Cupertino, CA
- Founding
- 12/2015
- Data as of
- 07/2022
- EIN
- 47-5016243
Organization Overview
Read To Achieve Foundation is located in Cupertino, CA. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Read To Achieve Foundation 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 07/2022, Read To Achieve Foundation generated $399.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $59.4k during the year ending 07/2022. While expenses have increased by 21.1% per year over the past 5 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ada Ho-Ying Kwan CFO | 2 | $0 | |
Fan Wan Lai CEO | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $318,928 |
| Interest on Savings | $17 |
| Dividends & Interest | $6,474 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $74,245 |
| Capital Gain Net Income | $74,245 |
| Net ST Capital Gain | $9,118 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $399,664 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $758 |
| Depreciation | $20,172 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $11,137 |
| Printing and publications | $0 |
| Other expenses | $8,104 |
| Total operating and administrative expenses | $41,353 |
| Contributions, gifts, grants paid | $18,001 |
| Total expenses and disbursements | $59,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $314,254 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $5,996 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $58,227 |
| Total assets | $977,500 |
| Accounts payable and accrued expenses | $15,771 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,771 |
Grants Awarded
Over the last fiscal year, Read To Achieve Foundation has awarded $18,001 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
ABERDEEN BAPTIST LUI MING CHOI COLLEGE PURPOSE: EDUCATIONAL | $10,000 |
AMERICAN FRIENDS OF THE LOUVRE PURPOSE: CHARITABLE | $1,850 |
SAVE THE CHILDREN USA PURPOSE: CHARITABLE | $1,130 |
LOUVRE MUSEUM PURPOSE: CHARITABLE | $1,025 |
BRITISH MUSEUM PURPOSE: CHARITABLE | $801 |
New York, NY PURPOSE: CHARITABLE | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Snap Foundation Santa Monica, CA | $165,494,601 | $537,573 |
John Pritzker Family Fund Redwood City, CA | $7,615,053 | $13,500,772 |
Newton And Rochelle Beckercharitable Trust Larkspur, CA | $179,394,273 | $14,820,252 |
Katie Mcgrath & J J Abrams Family Foundation Encino, CA | $5,090,305 | $12,922,680 |
Chuck Lorre Family Foundation Los Angeles, CA | $141,428,582 | $34,550,743 |
San Francisco Pretrial Diversion Project San Francisco, CA | $1,963,286 | $8,653,584 |
Elizabeth R & William J Patterson Foundation San Anselmo, CA | $0 | $2,038,322 |
Quest Foundation Danville, CA | $120,069,342 | $12,892,793 |
S Mark Taper Foundation Los Angeles, CA | $110,679,604 | $17,411,120 |
Moreno Family Foundation Phoenix, AZ | $117,327,204 | $12,846,787 |
William S And Nancy E Thompson Foundation Newport Beach, CA | $84,169,133 | $9,975,811 |
The Lakeview Foundation Greenbrae, CA | $2,321,091 | $1,301,410 |