Freedom Readers Inc
- Assets
- $305.6k
- Revenue
- $293.4k
- Investments
- $0.0
- Employees
- 9
- Location
- Myrtle Beach, SC
- Founding
- 10/2010
- Data as of
- 12/2022
- EIN
- 27-2517686
Organization Overview
Freedom Readers Inc is located in Myrtle 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 12/2022, Freedom Readers Inc employed 9 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 12/2022, Freedom Readers Inc generated $293.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $248.5k during the year ending 12/2022. While expenses have increased by 19.7% 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
2022
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 |
|---|---|---|---|
Carolyn Ellis Board Member | OfficerTrustee | $0 | |
Tracy Bailey National Dir | OfficerTrustee | 30 | $0 |
Jamia Richmond Chair | OfficerTrustee | $0 | |
Liz Gallo Secretary | OfficerTrustee | $0 | |
Sylvia Hickman Treasurer | OfficerTrustee | $0 | |
Tamara Greene Executive Di | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $60,303 |
| Related organizations | $0 |
| Government grants | $40,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $201,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $301,653 |
| Total Program Service Revenue | $0 |
| Investment income | $148 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$8,368 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $293,433 |
| 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. | $55,841 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,191 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,226 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $480 |
| Fees for services: Accounting | $7,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,616 |
| Advertising and promotion | $3,155 |
| Office expenses | $15,629 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,764 |
| 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 | $4,826 |
| All other expenses | $2,222 |
| Total functional expenses | $248,507 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$4,476 |
| Savings and temporary cash investments | $308,645 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,106 |
| 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 | $305,575 |
| Accounts payable and accrued expenses | $356 |
| 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 | $3,600 |
| Total liabilities | $3,956 |
| Net assets without donor restrictions | $301,619 |
| 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 | $305,575 |