Readsource Inc
- Assets
- $1.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 05/2019
- Data as of
- 06/2023
- EIN
- 46-5228845
Organization Overview
Readsource Inc is located in Atlanta, GA. The organization was established in 2019. According to its NTEE Classification (G80) the organization is classified as: Specifically Named Diseases, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Readsource 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 06/2023, Readsource Inc generated $1.1m in total revenue. All expenses for the organization totaled $1.3m during the year ending 06/2023. While expenses have increased by 31.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWERING COMMUNITIES TO SERVE STRUGGLING LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHER TRAINING - TO FACILITATE TEACHER TRAINING TO BOTH PUBLIC AND INDEPENDENT SCHOOL FACULTY SO THAT THEY CAN BETTER TEACH STRUGGLING READERS.TUTORING SERVICES - TO PROVIDE TUTORING SERVICES TO COMMUNITY STUDENTS WHO HAVE DIFFICULTY READING. PURPOSE BUILT PARTNERSHIP - TO PROVIDE READING REMEDIATION SERVICES TO ATLANTA PUBLIC SCHOOL STUDENTS THROUGH A PARTNERSHIP WITH PURPOSE BUILT SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Dangar Secretary | OfficerTrustee | 0.5 | $0 |
Kimberly Marks Board Chair | OfficerTrustee | 1 | $0 |
Mark N Phillips Treasurer | OfficerTrustee | 0.5 | $0 |
Jeffrey L Wright Vice Chair | OfficerTrustee | 1 | $0 |
William Wharton Executive Director | Officer | 1 | $0 |
Joshua Clark Executive Director | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $127,695 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $323,419 |
| Noncash contributions included in lines 1a–1f | $51,338 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $451,114 |
| Total Program Service Revenue | $626,002 |
| 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 | $1,078,787 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,023 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $789,395 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $75,893 |
| Payroll taxes | $49,188 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $124,018 |
| Advertising and promotion | $60,456 |
| Office expenses | $87 |
| Information technology | $1,871 |
| Royalties | $0 |
| Occupancy | $28,817 |
| Travel | $4,540 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,033 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,579 |
| Insurance | $0 |
| All other expenses | $24,475 |
| Total functional expenses | $1,309,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,467,880 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $217,854 |
| 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 | $461 |
| Net Land, buildings, and equipment | $37,442 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,723,637 |
| Accounts payable and accrued expenses | $9,851 |
| Grants payable | $0 |
| Deferred revenue | $3,574 |
| 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 | $82,322 |
| Total liabilities | $95,747 |
| Net assets without donor restrictions | $656,276 |
| Net assets with donor restrictions | $971,614 |
| 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 | $1,723,637 |