Read To Achieve Foundation
- Assets
- $1.1m
- Revenue
- $85.8k
- Investments
- $1.0m
- Employees
- 0
- Location
- Cupertino, CA
- Founding
- 12/2015
- Data as of
- 07/2024
- EIN
- 47-5016243
Organization Overview
Read To Achieve Foundation is located in Cupertino, CA. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Read To Achieve Foundation 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 07/2024, Read To Achieve Foundation generated $85.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $76.9k during the year ending 07/2024. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fan Wan Lai CEO | 2 | $0 | |
Ada Ho-Ying Kwan CFO | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $67,000 |
| Interest on Savings | $158 |
| Dividends & Interest | $18,675 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $85,833 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $353 |
| Depreciation | $20,948 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $25,917 |
| Printing and publications | $0 |
| Other expenses | $11,878 |
| Total operating and administrative expenses | $68,953 |
| Contributions, gifts, grants paid | $7,934 |
| Total expenses and disbursements | $76,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,869 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $2,805 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $40,380 |
| Total assets | $1,092,934 |
| Accounts payable and accrued expenses | $10,094 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,094 |
Grants Awarded
Over the last fiscal year, Read To Achieve Foundation has awarded $7,934 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
CHANGEORG PURPOSE: EDUCATIONAL | $100 |
CIEE INC PURPOSE: CHARITABLE | $3,154 |
COOL THE EA PURPOSE: CHARITABLE | $1,000 |
DWBDOCTORS WO BORDER PURPOSE: CHARITABLE | $360 |
HUMANE SOCIETY SV PURPOSE: CHARITABLE | $1,303 |
MAUI FOOD BANK PURPOSE: CHARITABLE | $513 |