The Reading Connection Inc
- Assets
- $214.5k
- Revenue
- $519.7k
- Investments
- $0.0
- Employees
- 9
- Location
- Mclean, VA
- Founding
- Data as of
- 06/2017
- EIN
- 54-1628863
Organization Overview
The Reading Connection Inc is located in Mclean, VA. As of 06/2017, Reading Connection Inc employed 9 individuals. Reading Connection 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 06/2017, Reading Connection Inc generated $519.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $765.5k during the year ending 06/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MOTIVATION FOR READING AND LITERACY-RICH ENVIRONMENTS TO AT-RISK CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE READING CONNECTION REACHES CHILDREN THROUGH OUR PROGRAMS BY DISTRIBUTING BOOKS ACROSS THE DC METRO REGION; HOLDING READING FAMILY WORKSHOPS; OFFERING LITERACY ADVOCATES TRAININGS FOR SOCIAL SERVICE AGENCIES; AND OFFERING LAUNCHING YOUNG READERS TRAININGS FOR PUBLIC SCHOOL PERSONNEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Whitman Chair | OfficerTrustee | 1 | $0 |
Carol Shen Vice Chair/ Former Inter.exe.director | OfficerTrustee | 40 | $21,000 |
Andrew Cross Treasurer | OfficerTrustee | 1 | $0 |
Anthony Camorotto Director | Trustee | 1 | $0 |
Courtney Kissell Former Secy/ex. Director | OfficerTrustee | 40 | $74,041 |
Jennifer Brandeley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,939 |
| Membership dues | $0 |
| Fundraising events | $87,147 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $420,922 |
| Noncash contributions included in lines 1a–1f | $56,096 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $510,008 |
| Total Program Service Revenue | $9,595 |
| Investment income | $49 |
| 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 | $519,652 |
| 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. | $88,705 |
| Compensation of current officers, directors, key employees. | $14,225 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $293,823 |
| Pension plan accruals and contributions | $11,099 |
| Other employee benefits | $44,247 |
| Payroll taxes | $27,735 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,791 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,338 |
| Advertising and promotion | $1,230 |
| Office expenses | $30,048 |
| Information technology | $6,327 |
| Royalties | $0 |
| Occupancy | $85,604 |
| Travel | $2,936 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,687 |
| Interest | $1,688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,145 |
| Insurance | $12,218 |
| All other expenses | $0 |
| Total functional expenses | $765,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $84,031 |
| Pledges and grants receivable | $40,689 |
| 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 | $48,748 |
| Prepaid expenses and deferred charges | $2,269 |
| Net Land, buildings, and equipment | $32,422 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,298 |
| Total assets | $214,457 |
| Accounts payable and accrued expenses | $22,267 |
| 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 | $80,000 |
| Other liabilities | $28,451 |
| Total liabilities | $130,718 |
| Unrestricted restricted net Assets | $79,874 |
| Temporarily restricted net Assets | $3,865 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $83,739 |