Read 718
- Assets
- $774.6k
- Revenue
- $708.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Brooklyn, NY
- Founding
- 06/2014
- Data as of
- 07/2022
- EIN
- 46-4080472
Organization Overview
Read 718 is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 07/2022, Read 718 employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Read 718 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 07/2022, Read 718 generated $708.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.9% each year . All expenses for the organization totaled $559.8k during the year ending 07/2022. While expenses have increased by 32.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
READ 718 PROVIDES FREE OR VERY LOW COST ONE-TO-ONE LITERACY INSTRUCTION TO STUDENTS FROM LOW-INCOME FAMILIES IN GRADES 1-8 IN BROOKLYN
Describe the Organization's Program Activity:
Part 3 - Line 4a
READ 718 OFFERS FREE OR LOW-COST INDIVIDUALIZED READING INSTRUCTION, MENTORSHIP, AND OTHER LITERACY PROGRAMMING, BOTH IN-PERSON AND REMOTELY, TO STUDENTS FROM LOW-INCOME FAMILIES IN GRADES ONE THROUGH EIGHT LOCATED IN BROOKLYN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Kirven Executive Director | OfficerTrustee | 40 | $60,677 |
Rai-Tonicia King Chair | OfficerTrustee | 1 | $0 |
Gianna Scorsone Vice-Chair | OfficerTrustee | 1 | $0 |
Erin Texeira Secretary | OfficerTrustee | 1 | $0 |
Kim Bourne Treasurer | OfficerTrustee | 1 | $0 |
Tad Sennott Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $81,415 |
| Related organizations | $0 |
| Government grants | $47,197 |
| All other contributions, gifts, grants, and similar amounts not included above | $570,144 |
| Noncash contributions included in lines 1a–1f | $16,641 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,756 |
| Total Program Service Revenue | $7,627 |
| Investment income | $0 |
| 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 | $708,000 |
| 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. | $71,809 |
| Compensation of current officers, directors, key employees. | $17,952 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $277,686 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,141 |
| Payroll taxes | $23,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,205 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $9,540 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,266 |
| Advertising and promotion | $494 |
| Office expenses | $29,168 |
| Information technology | $8,235 |
| Royalties | $0 |
| Occupancy | $24,000 |
| Travel | $962 |
| 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 | $11,869 |
| Insurance | $10,591 |
| All other expenses | $0 |
| Total functional expenses | $559,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $626,189 |
| Savings and temporary cash investments | $43,556 |
| Pledges and grants receivable | $20,000 |
| 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 | $9,032 |
| Net Land, buildings, and equipment | $75,792 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $774,569 |
| Accounts payable and accrued expenses | $8,373 |
| 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 | $8,373 |
| Net assets without donor restrictions | $766,196 |
| 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 | $774,569 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Read 718 has recieved totaling $251,603.
| Awarding Organization | Amount |
|---|---|
The Heckscher Foundation For Children New York, NY PURPOSE: WELFARE OF CHILDREN | $50,000 |
Bay And Paul Foundations Inc Wilmington, DE PURPOSE: SUPPORT FOR ENHANCED PROGRAMMING IN RESPONSE TO STUDENT LEARNING DEFICITS RESULTING FROM THE COVID-19 PANDEMIC | $50,000 |
Pinkerton Foundation New York, NY PURPOSE: AFTER SCHOOL & SUMMER LEARNING | $35,000 |
Tides Center San Francisco, CA PURPOSE: QUALITY EDUCATION | $30,000 |
Seedworks Fund Denver, CO PURPOSE: GENERAL FUND | $25,000 |
Margulf Foundation Glendale, CO PURPOSE: PROGRAMMING AND OPERATIONS | $20,000 |
Peer Organizations
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|---|---|---|
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Chevron Phillips Chemical Co Lp Health & Benefit Tr Veba Pittsburgh, PA | $15,880,618 | $77,964,861 |
Coordinated Behavioral Care Inc New York, NY | $25,699,878 | $79,934,258 |
Success Academy Charter Schools Inc New York, NY | $162,966,057 | $99,368,525 |
Inspirittec Inc Philadelphia, PA | $65,630,872 | $75,964,924 |
Baker Hall Lackawanna, NY | $43,415,308 | $53,649,609 |
Pennsylvania Virtual Charter School King Of Prussia, PA | $24,898,829 | $49,068,085 |
Tiegerman School Glen Cove, NY | $36,938,898 | $36,850,171 |
Proteus Fund Inc Amherst, MA | $47,115,132 | $46,264,432 |
Teach For All Inc New York, NY | $63,275,692 | $50,938,774 |
Pay It Forward Foundation Inc Pittsburgh, PA | $11,909,629 | $29,731,720 |
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