The New Haven Reads Community Book Bank Inc

Organization Overview

The New Haven Reads Community Book Bank Inc, operating under the name New Haven Reads, is located in New Haven, CT. The organization was established in 2006. 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 06/2021, New Haven Reads employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Haven Reads 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 06/2021, New Haven Reads generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $935.4k during the year ending 06/2021. While expenses have increased by 11.4% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

FOUNDED TO SHARE THE JOY AND POWER OF READING, NEW HAVEN READS PARTNERS WITH THE COMMUNITY TO PROVIDE FREE 1-ON-1 TUTORING, EDUCATIONAL SUPPORT, AND A BOOK BANK TO EMPOWER ASPIRING READERS TO MASTER THE LITERACY SKILLS NEEDED TO THRIVE IN SCHOOL AND LIFE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION RUNS A ONE-ON-ONE TUTORING PROGRAM FOR OVER 300 STUDENTS EACH WEEK. WE UTILIZE COLLEGE STUDENTS AND COMMUNITY VOLUNTEERS TO PROVIDE HIGH QUALITY INSTRUCTION IN READING AND OTHER SUBJECTS.


THE ORGANIZATION COLLECTS AND REDISTRIBUTES NEW AND GENTLY USED BOOKS FOR NEEDY ORGANIZATIONS AND INDIVIDUALS. WE DISTRIBUTED OVER 120,000 BOOKS DURING THE FISCAL YEAR AT NO COST TO AREA RESIDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Kirsten Levinsohn
Executive Director
$72,800
Ruth Beardsley
President
$0
Andy Babiak
Vice President
$0
Laurie Desmet
Secretary
$0
Alex Kleiner
Treasurer
$0
Sigga Benediktsdottir
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $282,946
All other contributions, gifts, grants, and similar amounts not included above$931,374
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,214,320
Total Program Service Revenue$0
Investment income $1,533
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $781
Net Income from Fundraising Events $11,379
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,265,882

Grants Recieved

Over the last fiscal year, we have identified 11 grants that The New Haven Reads Community Book Bank Inc has recieved totaling $177,094.

Awarding OrganizationAmount
Network For Good Inc

Washington, DC

PURPOSE: UNRESTRICTED

$75,526
The Bessemer Giving Fund

Woodbridge, NJ

PURPOSE: GENERAL SUPPORT

$20,000
United Way Of Greater New Haven Inc

New Haven, CT

PURPOSE: SUMMER YOUTH PROGRAM

$15,000
Carlson Family Foundation Inc

Chapel Hill, NC

PURPOSE: MAJOR GRANT

$12,250
The Risc Foundation Inc

New Haven, CT

PURPOSE: PROGRAM SUPPORT

$12,000
Echlin Foundation

Branford, CT

PURPOSE: UNRESTRICTED

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$353,413
Earnings$175,953
Admin Expense$10,167
Ending Balance$519,199

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