Philadelphia Reads Inc
- Assets
- $0.0
- Revenue
- $25.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Newtown Square, PA
- Founding
- 05/2010
- Data as of
- 06/2020
- EIN
- 27-1723052
Organization Overview
Philadelphia Reads Inc, operating under the name Philareads, is located in Newtown Square, PA. The organization was established in 2010. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philareads 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 06/2020, Philareads generated $25.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (48.4%) each year. All expenses for the organization totaled $30.2k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (46.3%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PHILADELPHIA READS IS TO BUILD A "CITY OF READERS" BY PROVIDING "IN AND "OUT OF SCHOOL TIME" PROGRAMS THAT STRENGTHEN THE LITERACY SKILLS OF PHILADELPHIA SCHOOL CHILDREN SO THEY WILL BE ABLE TO READ AT OR ABOVE GRADE LEVEL BY THE END OF THEIR THIRD GRADE YEAR. OUR VISION IS FOR ALL CHILDREN TO READ COMPETENTLY AND INDEPENDENTLY BY GRADE 4 IN ORDER TO BE SUCCESSFUL LEARNERS AND FOR THEM TO ALSO DEVELOP A LIFE-LONG LOVE OF READING. WE ENVISION THAT ALL STUDENTS WILL UNDERSTAND THAT THE POWER OF LITERACY ENABLES THEIR FUTURE SUCCESS. WE ALSO ENVISION A DEDICATED CORE OF TRAINED VOLUMTEERS TO SERVE AS MENTORS AND EXPAND LITERACY OPPORTUNITIES FOR STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BUILD A "CITY OF READERS" BY PROVIDING "IN AND "OUT OF SCHOOL TIME" PROGRAMS THAT STRENGTHEN THE LITERACY SKILLS OF PHILADELPHIA SCHOOL CHILDREN SO THEY WILL BE ABLE TO READ AT OR ABOVE GRADE LEVEL BY THE END OF THEIR THIRD GRADE YEAR.
TO BUILD A "CITY OF READERS" BY PROVIDING "IN AND "OUT OF SCHOOL TIME" PROGRAMS THAT STRENGTHEN THE LITERACY SKILLS OF PHILADELPHIA SCHOOL CHILDREN SO THEY WILL BE ABLE TO READ AT OR ABOVE GRADE LEVEL BY THE END OF THEIR THIRD GRADE YEAR.
TO BUILD A "CITY OF READERS" BY PROVIDING "IN AND "OUT OF SCHOOL TIME" PROGRAMS THAT STRENGTHEN THE LITERACY SKILLS OF PHILADELPHIA SCHOOL CHILDREN SO THEY WILL BE ABLE TO READ AT OR ABOVE GRADE LEVEL BY THE END OF THEIR THIRD GRADE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Goebel Treasurer | Trustee | 2 | $0 |
Jeff Raudenbush Director | Trustee | 2 | $0 |
Kim Powers Director | Trustee | 2 | $0 |
Christine Caputo Director | Trustee | 2 | $0 |
Lowell Thomas Esquire Chairman | Trustee | 2 | $0 |
Emmanuel Brown Esquire Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,181 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,187 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,407 |
| Fees for services: Accounting | $3,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,400 |
| Travel | $0 |
| 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 | $465 |
| All other expenses | $0 |
| Total functional expenses | $30,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Philadelphia Reads Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Wawa Foundation Inc Wawa, PA PURPOSE: TO SUPPORT THE FOUNDATION PROGRAM INITIATIVES | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Highland County Community Action Organization Hillsboro, OH | $8,566,357 | $9,816,466 |
Montgomery County Community Action Development Commission Norristown, PA | $3,474,447 | $9,701,447 |
Unique Life Inc Bronx, NY | $6,794,767 | $10,711,287 |
Harford Community Action Agency Inc Edgewood, MD | $1,673,036 | $9,657,215 |
Community Action Commission Of Erie Huron & Richland Counties Inc Sandusky, OH | $1,848,122 | $9,418,648 |
Liberty Lutheran Services Ambler, PA | $87,780,400 | $9,720,613 |
Albany County Opportunity Incorporated Albany, NY | $9,044,384 | $9,921,411 |
Ohio Partners For Afforable Energy Findlay, OH | $9,545,597 | $9,033,795 |
Community Action Partnership Of Mercer County Sharon, PA | $4,458,318 | $9,067,066 |
Doctors Of The World-Usa Inc New York, NY | $5,138,998 | $8,908,023 |
United Food And Commercial Workers International Union Oriskany, NY | $2,992,541 | $8,981,591 |
Ross County Community Action Commission Inc Chillicothe, OH | $2,353,377 | $8,335,614 |