Readworks Inc is located in Brooklyn, NY. The organization was established in 1991. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 08/2023, Readworks Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Readworks 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 08/2023, Readworks Inc generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $3.0m during the year ending 08/2023. While expenses have increased by 8.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
READWORKS IS AN EDUCATION-TECHNOLOGY NON-PROFIT FOCUSED ON IMPROVING READING COMPREHENSION THAT, THROUGH ITS DIGITAL PLATFORM, PROVIDES RESEARCH-BASED CONTENT, CURRICULAR SUPPORTS, AND OTHER FEATURES THAT INTEGRATE WITH CORE ENGLISH LANGUAGE ARTS (ELA) CURRICULA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
READWORKSCONTINUES TO FOCUS ON GROWING AND IMPROVING OUR PRODUCT TO IMPACT THE MILLIONS OF USERS WE SERVE, BASED ON DATA, LEARNING SCIENCE, AND A DEEP UNDERSTANDING AND EMPATHY FOR THE PRACTICAL REALITIES FACED BY TEACHERS AND STUDENTS IN CLASSROOMS TODAY. WE HAVEEXPANDED OUR CONTENT AND CURRICULUM OFFERING SIGNIFICANTLY, ADDING NEW ARTICLES TO OUR LIBRARY, SPANNING DIVERSE TOPICS AND INTERESTS. THESE TEXTS INCLUDE NEW CONTENT FROM OUR NEW AND EXISTING PARTNERS AND ARE ALIGNED WITH OUR DIVERSITY, EQUITY, AND INCLUSION GOALS.IN 2022, WE RELEASED ONE OF OUR MOST REQUESTED FEATURES FROM EDUCATORS--A NEW SINGLE SIGN-ON INTEGRATION WITH CLEVER, ONE OF THE MOST WIDELY USED SINGLE SIGN-ON PORTALS IN K-12 EDUCATION THAT STREAMLINES IMPLEMENTATION WITH SECURE ACCOUNTS, DATA MANAGEMENT, AND EASY CLASSROOM ACCESS. LIKE OUR GOOGLE CLASSROOM INTEGRATION, OUR INTEGRATION WITH CLEVER IS ANOTHER WAY TO MAKE USING READWORKS IN THE CLASSROOM EASIER FOR TEACHERS. IN OUR 2021 NATIONAL SURVEY, 46%OF RESPONDENTS REPORTED USING CLEVERIN THEIR CLASSROOMS. READWORKS IS ALSO NOW FEATURED INTHE CLEVER LIBRARY.IN SPRING 2022, READWORKS LAUNCHED BOOK STUDIES TO DELIVER CURATED CONTENT THAT DIRECTLY INTEGRATES WITH THE MOST WIDELY-TAUGHT ELA BOOKS NATIONWIDE, SIMPLIFYING THE PLANNING PROCESS FOR EDUCATORS AND GIVING THEM BACK THE CRITICAL TIME NEEDED TO FURTHER SUPPORT THEIR STUDENTS.EACH BOOK STUDY TEXT SET IS BASED ON THE RESEARCH-SUPPORTED ARTICLE-A-DAY ROUTINE AND INCLUDES SEVEN+ PASSAGES WITH QUESTION SETS TO SEAMLESSLY BUILD BACKGROUND KNOWLEDGE, GROW VOCABULARIES, AND STRENGTHEN STRATEGIC READING FOR STUDENTS.IN THE 2021-2022 SCHOOL YEAR, READWORKS WELCOMED TWO NEW BOARD MEMBERS, GINA CERVETTI AND KARIM (KAM) MOOLANI. CERVETTI WORKED AS AN ASSISTANT PROFESSOR AT THE UNIVERSITY OF COLORADO, BOULDER FOR THREE YEARS. SHE IS NOW AN ASSOCIATE PROFESSOR OF LITERACY, LANGUAGE, AND CULTURE AT THE UNIVERSITY OF MICHIGAN SCHOOL OF EDUCATION, WHERE HER RESEARCH FOCUSES ON THE INTERFACE OF LITERACY AND CONTENT-AREA LEARNING. MOOLANI IS CURRENTLY A MANAGING DIRECTOR AT SILVER POINT CAPITAL IN CONNECTICUT. HE HAS SERVED ON THE NEW YORK METRO ADVISORY BOARD AT THE NETWORK FOR TEACHING ENTREPRENEURSHIP (NFTE)--A NONPROFIT PROVIDING EDUCATIONAL PROGRAMS FOR MIDDLE SCHOOL, HIGH SCHOOL, COLLEGE STUDENTS, AND ADULTS--SINCE 2014.READWORKS IS PROUD TO HAVE PARTNERED WITH CULTURAL INSTITUTIONS LIKE THE INTERNATIONAL QUILT MUSEUM, THE GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY, THE NATIONAL FISH AND WILDLIFE FOUNDATION, THE PHILADELPHIA MUSEUM OF ART, THE NEW-YORK HISTORICAL SOCIETY, THE AMERICAN MUSEUM OF NATURAL HISTORY, AND MORE. AS WE CONTINUE SERVING STUDENTS AND EDUCATORS, WE LOOK FORWARD TO PARTNERING WITH MORE PRESTIGIOUS INSTITUTIONS AND GROWING OUR PORTFOLIO OF PARTNERS TO PROVIDE EVEN MORE OFTHE HIGH-QUALITY, NONFICTION TEXTS FOR WHICH WE ARE KNOWN.OUR 2022 ANNUAL REPORT CAN BE FOUND HERE:HTTPS://ABOUT.READWORKS.ORG/UPLOADS/7/9/6/7/79679564/READWORKS_ANNUAL_REPORT_2022.PDF
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Daria L Wallach Chair | OfficerTrustee | 1 | $0 |
Wilson Neely Treasurer | OfficerTrustee | 1 | $0 |
Jamie Beard Director | Trustee | 1 | $0 |
Gina N Cervetti Director | Trustee | 1 | $0 |
Cathy James Paglia Director | Trustee | 1 | $0 |
Mandy Casamassima Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Margo Doolittle Development Support | 8/30/23 | $142,100 |
Christina Oliver | 8/30/23 | $132,020 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $5,000 |
All other contributions, gifts, grants, and similar amounts not included above | $4,366,764 |
Noncash contributions included in lines 1a–1f | $451,251 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,371,764 |
Total Program Service Revenue | $221,365 |
Investment income | $6,389 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $4,243 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,603,761 |
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. | $261,165 |
Compensation of current officers, directors, key employees. | $18,282 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,432,023 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $133,554 |
Payroll taxes | $117,015 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $38,950 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $769,233 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $8,642 |
Royalties | $0 |
Occupancy | $2,940 |
Travel | $33,544 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $96,786 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,417 |
Insurance | $13,934 |
All other expenses | $14,492 |
Total functional expenses | $3,007,175 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $152,340 |
Savings and temporary cash investments | $1,282,590 |
Pledges and grants receivable | $1,015,457 |
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 | $9,057 |
Investments—publicly traded securities | $226,023 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,685,467 |
Accounts payable and accrued expenses | $82,239 |
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 | $82,239 |
Net assets without donor restrictions | $1,530,268 |
Net assets with donor restrictions | $1,072,960 |
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 | $0 |
Total liabilities and net assets/fund balances | $2,685,467 |