Freedom Readers Inc
- Assets
- $256.8k
- Revenue
- $306.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Surfside Beach, SC
- Founding
- 10/2010
- Data as of
- 12/2021
- EIN
- 27-2517686
Organization Overview
Freedom Readers Inc is located in Surfside Beach, SC. The organization was established in 2010. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 12/2021, Freedom Readers Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom Readers 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 12/2021, Freedom Readers Inc generated $306.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $159.8k during the year ending 12/2021. While expenses have increased by 15.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE READING SKILLS IN LOW-INCOME COMMUNITIES BY PROVIDING ONE-TO-ONE LITERACY TUTORING, FREE BOOKS FOR HOME LIBRARIES, AND AN INSPIRING, HIGH- ENERGY LEARNING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ONE-TO-ONE LITERACY TUTORING, FREE BOOKS FOR HOME LIBRARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamia Richmond Chair | OfficerTrustee | $0 | |
Jon Greenlee Treasurer | OfficerTrustee | $0 | |
Tracy Bailey CEO | OfficerTrustee | $0 | |
Cassandra Jackson Board Member | OfficerTrustee | $0 | |
Carolyn Ellis Board Member | OfficerTrustee | $0 | |
Amy Stack Secretary | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,499 |
| Related organizations | $0 |
| Government grants | $37,597 |
| All other contributions, gifts, grants, and similar amounts not included above | $266,643 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $305,739 |
| Total Program Service Revenue | $0 |
| Investment income | $176 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $710 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $306,625 |
| 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. | $38,713 |
| Compensation of current officers, directors, key employees. | $9,678 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,917 |
| Advertising and promotion | $1,385 |
| Office expenses | $8,558 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,517 |
| 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 | $4,425 |
| All other expenses | $42 |
| Total functional expenses | $159,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$106 |
| Savings and temporary cash investments | $256,615 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $300 |
| Total assets | $256,809 |
| Accounts payable and accrued expenses | $116 |
| 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 | $116 |
| Net assets without donor restrictions | $256,693 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $256,809 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Freedom Readers Inc has recieved totaling $98,505.
| Awarding Organization | Amount |
|---|---|
Frances P Bunnelle Foundation Pawleys Island, SC PURPOSE: EDUCATIONAL GRANT | $25,300 |
The J H Walker Legacy Foundation Reston, VA PURPOSE: READING LAB MATERIALS, SITE MATERIALS, TUTORING AND TRAINING MATERIALS | $25,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $21,940 |
United Way Of Horry County Inc Myrtle Beach, SC PURPOSE: COVID ASSISTANCE FUNDING | $15,000 |
Coaching For Literacy Memphis, TN PURPOSE: LITERACY INTERVENTION AND RESOURCES | $10,965 |
Michael Jones Foundation Tabor City, NC PURPOSE: TO SUPPORT LITERACY OF CHILDREN. | $300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Book Harvest Durham, NC | $2,671,436 | $2,224,285 |
Literacy Action Inc Atlanta, GA | $1,276,569 | $1,539,429 |
The Global Village Project Inc Decatur, GA | $2,051,230 | $1,459,701 |
Durham Literacy Center Inc Durham, NC | $1,363,688 | $948,350 |
Care House Of The Pee Dee Inc Florence, SC | $649,541 | $1,102,021 |
Team Up Mentoring Inc Monroe, GA | $139,641 | $683,392 |
Greenville Literacy Association Inc Greenville, SC | $1,469,123 | $843,116 |
West End Community Foundation Inc Durham, NC | $4,528,344 | $496,457 |
Faith And Love Enrichment Center Inc High Point, NC | $0 | $820,939 |
Blue Ridge Healthcare Foundation Inc Morganton, NC | $4,456,806 | $732,568 |
Leap Year Atlanta, GA | $332,998 | $471,232 |
Cape Fear Literacy Council Wilmington, NC | $1,620,387 | $533,734 |