The Reading Foundation
- Assets
- $2.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Kennewick, WA
- Founding
- 08/1997
- Data as of
- 06/2023
- EIN
- 91-1731315
Organization Overview
The Reading Foundation is located in Kennewick, WA. The organization was established in 1997. 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 06/2023, Reading Foundation employed 6 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Reading 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 06/2023, Reading Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 8 years. 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
EARLY CHILDHOOD LITERACY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES SUPPORT TO FAMILIES AND CAREGIVERS WITH TRAINING AND RESOURCES RELATED TO EARLY LEARNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Norell Executive Di | Officer | 40 | $150,720 |
Minerva Osgood Program Dire | 40 | $114,416 | |
Nancy Kerr President | OfficerTrustee | 5 | $0 |
Bailey Weiss Vice-Preside | OfficerTrustee | 1 | $0 |
Cheryl Dell Treasurer | OfficerTrustee | 5 | $0 |
Janice Fox Board Member | OfficerTrustee | 1 | $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 | $1,610 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,610 |
| Total Program Service Revenue | $0 |
| Investment income | $4,336 |
| 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 | $1,239,596 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,245,542 |
| 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. | $150,720 |
| Compensation of current officers, directors, key employees. | $30,144 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $144,436 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32,067 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,671 |
| Fees for services: Accounting | $42,817 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,394 |
| Office expenses | $10,098 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,503 |
| Travel | $4,610 |
| 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 | $663 |
| Insurance | $0 |
| All other expenses | $52,370 |
| Total functional expenses | $1,176,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $282,363 |
| Savings and temporary cash investments | $1,761,630 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,317 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $446,891 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $124 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,586,325 |
| Accounts payable and accrued expenses | $1,391 |
| 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 | $22,574 |
| Total liabilities | $23,965 |
| Net assets without donor restrictions | $2,562,360 |
| 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 | $2,586,325 |