The Reading Foundation
- Assets
- $324.6k
- Revenue
- $370.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lacey, WA
- Founding
- 07/2001
- Data as of
- 12/2021
- EIN
- 91-2091907
Organization Overview
The Reading Foundation is located in Lacey, WA. The organization was established in 2001. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Reading 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 12/2021, Reading Foundation generated $370.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $267.9k during the year ending 12/2021. While expenses have increased by 20.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BRING THE JOY AND PROMISE OF BOOKS AND READING TO ALL SOUTH SOUND CHILDREN BY EDUCATING FAMILIES, ENGAGING KIDS IN READING ACTIVITIES, AND GETTING THOUSANDS OF FREE BOOKS TO CHILDREN, YOUTH, AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRING THE JOY AND PROMISE OF BOOKS AND READING TO ALL SOUTH SOUND CHILDREN BY EDUCATING FAMILIES, ENGAGING KIDS IN READING ACTIVITIES, AND GETTING THOUSANDS OF FREE BOOKS TO CHILDREN, YOUTH, AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derek Bumrungsiri Board Member | Officer | 0.5 | $0 |
Genevieve Canceko Chan Vice Preside | Officer | 1 | $0 |
Ruth Conn Secretary | Officer | 1 | $0 |
Brenna English Board Member | Officer | 0.5 | $0 |
Susan Gifford Board Member | Officer | 0.5 | $0 |
Jim Justin President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $38,993 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $45,517 |
| Government grants | $104,136 |
| All other contributions, gifts, grants, and similar amounts not included above | $103,851 |
| Noncash contributions included in lines 1a–1f | $103,851 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $292,497 |
| Total Program Service Revenue | $23,326 |
| Investment income | $475 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $54,106 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $370,404 |
| 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. | $26,667 |
| Compensation of current officers, directors, key employees. | $5,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,326 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,628 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,964 |
| Advertising and promotion | $784 |
| Office expenses | $59,222 |
| Information technology | $3,891 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,181 |
| 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 | $0 |
| Insurance | $4,277 |
| All other expenses | $0 |
| Total functional expenses | $267,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,644 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $324,644 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $324,644 |
| Total liabilities and net assets/fund balances | $324,644 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Reading Foundation has recieved totaling $18,115.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of South Puget Sound Olympia, WA PURPOSE: OPERATING | $18,115 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Humanitae Advisors Seattle, WA | $9,991,179 | $3,132,979 |
Page Ahead Childrens Literacy Prgm Seattle, WA | $915,265 | $1,203,439 |
The Reading Foundation Kennewick, WA | $2,541,979 | $1,421,943 |
Literacy Source Seattle, WA | $581,873 | $1,208,747 |
Literacy Council Of Alaska Fairbanks, AK | $459,917 | $1,046,251 |
The Reading Foundation Kennewick, WA | $442,946 | $841,516 |
Ark Institute Of Learning Tacoma, WA | $1,235,357 | $818,511 |
Team Read Seattle, WA | $1,046,049 | $1,014,853 |
The Reading Foundation Lacey, WA | $324,644 | $370,404 |
Story Works Alaska Anchorage, AK | $75,887 | $0 |
Falis Community Service Kent, WA | $2,862 | $0 |
Street Books Portland, OR | $124,061 | $0 |