Readwest Inc
- Assets
- $140.0k
- Revenue
- $243.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Rio Rancho, NM
- Founding
- 06/2004
- Data as of
- 06/2022
- EIN
- 85-0381570
Organization Overview
Readwest Inc is located in Rio Rancho, NM. 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. As of 06/2022, Readwest Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Readwest 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 06/2022, Readwest Inc generated $243.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $201.5k during the year ending 06/2022. While expenses have increased by 11.8% 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
PROVIDE QUALITY ONE-TO-ONE TUTORING TO ADULTS SEEKING TO TRANSFORM THEIR LIVES THROUGH ENHANCED LITERACY SKILLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOLUNTEER TUTORS MEET FACE TO FACE WEEKLY WITH STUDENTS, EITHER IN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Ratliff Exec Director | Officer | 40 | $45,580 |
Ray Sanchez Vice President | Officer | 1 | $0 |
Hyejin Yun Treasurer | Officer | 1 | $0 |
Tamara Beall President | Officer | 1 | $0 |
Sue Fox Director | Trustee | 1 | $0 |
Matthew Hess Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $121,349 |
| All other contributions, gifts, grants, and similar amounts not included above | $122,541 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $243,890 |
| Total Program Service Revenue | $0 |
| 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 | $243,890 |
| 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. | $55,000 |
| Compensation of current officers, directors, key employees. | $5,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,734 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,667 |
| Payroll taxes | $9,028 |
| Fees for services: Management | $15,722 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,276 |
| 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 | $17,765 |
| Information technology | $7,884 |
| Royalties | $0 |
| Occupancy | $27,411 |
| Travel | $40 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,157 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,556 |
| All other expenses | $284 |
| Total functional expenses | $201,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $127,106 |
| Savings and temporary cash investments | $12,933 |
| 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 | $0 |
| Total assets | $140,039 |
| 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 | $140,039 |
| 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 | $140,039 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Readwest Inc has recieved totaling $10,225.
| Awarding Organization | Amount |
|---|---|
Paul Kehrer Family Foundation Pacific Palisades, CA PURPOSE: IMPROVE ADULT LITERACY | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $225 |
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