Read Youth Charities

Organization Overview

Read Youth Charities is located in Magnolia, TX. The organization was established in 1972. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Read Youth Charities 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, Read Youth Charities generated $669.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $1.4m during the year ending 08/2023. While expenses have increased by 13.5% 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.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2023

Describe the Organization's Program Activity:

Part 3 - Line 4a

DEERFOOT YOUTH CAMP - A SPORTS CAMP FOR SOCIOECONOMICALLY DISADVANTAGED YOUTH.


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Board, Officers & Key Employees

Name (title)Compensation
Michael A Thornton
President/chair
$52,875
Thomas Read
Vice President
$0
Thomas Gilbert
Secretary
$0
Brian J Bergeron
Treasurer
$0
Paul Batista
Trustee
$0
Roy Cano
Trustee
$0

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $6,291
Interest on Savings $134,079
Dividends & Interest $722,467
Net Rental Income$0
Net Gain on Sale of Assets -$358,001
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $164,611
Total Revenue $669,447

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