Read To A Child Inc
- Assets
- $979.3k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 68
- Location
- Wellesley, MA
- Founding
- 02/2006
- Data as of
- 09/2023
- EIN
- 20-3526239
Organization Overview
Read To A Child Inc is located in Wellesley, MA. The organization was established in 2006. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 09/2023, Read To A Child Inc employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Read To A Child 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 09/2023, Read To A Child Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $1.5m during the year ending 09/2023. While expenses have increased by 4.0% 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
CHILDREN'S LITERACY & MENTORING
Describe the Organization's Program Activity:
Part 3 - Line 4a
READ TO A CHILD'S MISSION IS TO FOSTER A LOVE OF READING, IMPROVE LITERACY SKILLS AND SUPPORT SOCIO-EMOTIONAL WELL-BEING IN STUDENTS FROM UNDER-RESOURCED COMMUNITIES. READ TO A CHILD'S VISION IS THAT EVERY CHILD HAS THE OPPORTUNITY TO THRIVE IN SCHOOL AND BEYOND THROUGH INSPIRATIONAL MENTORING AND READ-ALOUD EXPERIENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Solomon Chair | OfficerTrustee | 2 | $0 |
Katharine Beattie Director | Trustee | 2 | $0 |
Richard Wasserman Director | Trustee | 2 | $0 |
Paul Lamoureux CEO | OfficerTrustee | 40 | $135,846 |
David Walker Director | Trustee | 2 | $0 |
David Brewer III Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $213,971 |
| Related organizations | $0 |
| Government grants | $323,540 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,121,950 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,659,461 |
| Total Program Service Revenue | $0 |
| Investment income | $5,341 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $722 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,665,524 |
| 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. | $146,494 |
| Compensation of current officers, directors, key employees. | $14,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $964,501 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $83,331 |
| Payroll taxes | $92,403 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,067 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $406 |
| Travel | $6,004 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,435 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,518 |
| All other expenses | $2,503 |
| Total functional expenses | $1,474,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,534 |
| Savings and temporary cash investments | $270,166 |
| Pledges and grants receivable | $406,040 |
| 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 | $14,520 |
| 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 | $979,260 |
| Accounts payable and accrued expenses | $50,184 |
| Grants payable | $0 |
| Deferred revenue | $27,500 |
| 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 | $77,684 |
| Net assets without donor restrictions | $605,142 |
| Net assets with donor restrictions | $296,434 |
| 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 | $979,260 |