Reading Engineering Teams Inc
- Assets
- $56.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Reading, MA
- Founding
- 09/2014
- Data as of
- 08/2023
- EIN
- 46-5231808
Organization Overview
Reading Engineering Teams Inc is located in Reading, MA. The organization was established in 2014. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reading Engineering Teams 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 08/2023, Reading Engineering Teams Inc generated $24.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $12.7k during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
SUPPORT READING MEMORIAL HIGH SCHOOL FRC ROBOTICS TEAM IN BUILDING COMPETITION ROBOT AND ATTENDING NE FIRST COMPETITIONS VIRTUALLY. TWENTY-NINE (29) STUDENTS AND 10 ADULT MENTORS PARTICIPATED IN THIS PROGRAM IN 2020-21. THROUGH OUTREACH ACTIVITIES (IE. SCIENCE EXPO AND LIBRARY EVENTS), THE TEAM INSPIRES APPRECIATION FOR STEM WITHIN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sanat Patel President | 1 | $0 | |
Rachael Nokes Treasurer | 2 | $0 | |
Lynn Wolter Clerk | 0.5 | $0 | |
Eileen Manning Director | 1 | $0 | |
Akshita Rao Director | 0 | $0 | |
Carmine Mazzarella Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,500 |
| Total Program Service Revenue | $0 |
| Membership dues | $3,125 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $12,418 |
| Other Revenue | $0 |
| Total Revenue | $24,043 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $12,707 |
| Total expenses | $12,707 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $56,229 |
| Other assets | $0 |
| Total assets | $56,229 |
| Total liabilities | $0 |
| Net assets or fund balances | $56,229 |