Planetread
- Assets
- $1.2m
- Revenue
- $151.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Piedmont, CA
- Founding
- 11/2004
- Data as of
- 06/2024
- EIN
- 57-1198966
Organization Overview
Planetread is located in Piedmont, CA. The organization was established in 2004. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Planetread 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 06/2024, Planetread generated $151.4k in total revenue. All expenses for the organization totaled $336.9k during the year ending 06/2024. While expenses have increased by 107.2% per year over the past 4 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PLANETREAD INNOVATED SAME LANGUAGE SUBTITLING SLS FOR MASS READING LITERACY. CHAMPIONS SLS-RELATED IMPACT RESEARCH PILOTS SPEECH-TO-TEXT TECHNOLOGY DEVELOPMENT AND SYSTEMWIDE ADOPTION AND IMPLEMENTATION ON TV AND STREAMING PLATFORMS FOR READING MEDIA ACCESS AND LANGUAGE LEARNING. CURRENTLY: INDIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIJ KOTHARI IS LEADING THE SYSTEM CHANGE EFFORT FOR SLS ADOPTION AND IMPLEMENTATION IN INDIA. A SIGNIFICANT PORTION OF THE EXPENSES WAS FOR HIS FULL TIME SALARY TO LEAD THE IMPLEMENTATION OF A STRATEGY TO SCALE SLS IN INDIA FORGE A COALITION OF IMPLEMENTATION PARTNERS ACROSS SECTORS AND PROVIDE OVERSIGHT FOR PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brij Kothari Director | OfficerTrustee | 40 | $141,291 |
Shweta Suresh Board Chair Director | Trustee | 0.5 | $0 |
Megan Smith Director | Trustee | 0.5 | $0 |
Robert Lynch CFO Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $126,384 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $126,384 |
| Total Program Service Revenue | $0 |
| Investment income | $24,990 |
| 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 | $151,374 |
| 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 | $124,761 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $141,291 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $288 |
| Fees for services: Management | $3,362 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,978 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $41,400 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,317 |
| 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 | $1,500 |
| All other expenses | $8 |
| Total functional expenses | $336,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $141,823 |
| Savings and temporary cash investments | $1,024,942 |
| Pledges and grants receivable | $0 |
| 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 | $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 | $100 |
| Total assets | $1,166,865 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $1,166,865 |
| Total liabilities and net assets/fund balances | $1,166,865 |