Readers Digest Foundation
- Assets
- $2.3m
- Revenue
- $223.4k
- Investments
- $2.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/1968
- Data as of
- 12/2022
- EIN
- 13-6120380
Organization Overview
Readers Digest Foundation is located in New York, NY. The organization was established in 1968. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Readers Digest 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 12/2022, Readers Digest Foundation generated $223.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $584.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Readers Digest Foundation has awarded 49 individual grants totaling $4,032,471. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOLUNTEER PROGRAM - THE FOUNDATION SUPPORTED VOLUNTEER ACTIVITY BY EMPLOYEES OF TRUSTED MEDIA BRANDS, INC., FOR UNDERPRIVILEGED CHILDREN INCLUDING A BACK-TO-SCHOOL CLOTHING DRIVE, CHRISTMAS HOLIDAY PARTIES AND EDUCATIONAL PROGRAMS. ACTIVITIES WERE LIMITED IN 2021 DUE TO THE COVID 19 PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonnie Kintzer Chairwoman | 1 | $0 | |
Paul Gillow President | 4 | $18,360 | |
Leigh Truitt Secretary | 2 | $2,806 | |
Maria Morganti Treasurer | 1 | $0 | |
Jen Tyrrell Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $55,994 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $167,378 |
| Capital Gain Net Income | $167,378 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $223,372 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $21,166 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,109 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,433 |
| Printing and publications | $0 |
| Other expenses | $6,860 |
| Total operating and administrative expenses | $59,568 |
| Contributions, gifts, grants paid | $524,571 |
| Total expenses and disbursements | $584,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $77,513 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Total assets | $2,253,500 |
| Accounts payable and accrued expenses | $26,577 |
| Grants payable | $9,008 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $3,635 |
| Total liabilities | $39,220 |
Grants Awarded
Over the last fiscal year, Readers Digest Foundation has awarded $529,159 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MATCHING GIFTS PROGRAM PURPOSE: MATCHING GIFTS PROGRAM - GIFTS TO PUBLICLY SUPPORTED CHARITIES MATCHING THE CONTRIBUTIONS OF EMPLOYEES OF TRUSTED MEDIA BRANDS, INC. | $26,941 |
VOLUNTEER INCENTIVE PROGRAM PURPOSE: VOLUNTEER INCENTIVE PROGRAM - GRANTS TO CHARITABLE ORGANIZATIONS IN WHICH EMPLOYEES OF TRUSTED MEDIA BRANDS, INC., PARTICIPATE AS VOLUNTEERS. | $1,250 |
CHILDREN'S AID SOCIETYWAGON ROAD CA PURPOSE: SUMMER CAMP | $968 |
UNITED THROUGH READING PURPOSE: THE GRANT SUPPORTS THE 40 MILLION STORIES CAMPAIGN WHICH ALLOWS MEMBERS OF THE ARMED FORCES OF THE UNITED STATES TO READ STORIES WHILE DEPLOYED OVERSEAS OR AT SEA AND RECORD THEM SO THEY CAN BE READ TO THEIR CHILDREN AT HOME. | $500,000 |