READWORKSINC

EIN: 133593812 501(c)(3) Education

BROOKLYN, NY

Total Revenue
$2,706,987
Total Expenses
$3,649,720
Total Assets
$1,775,760
Net Assets
$1,669,729
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
NY
Principal Officer
TERRY BOWMAN
Phone
7185964292
Tax Period
2023-09-01 to 2024-08-31

READWORKSINC, founded in 1990, is a community nonprofit in the Education sector that reported $2.7M in total revenue in fiscal year 2023. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $3.6M exceeded revenue, resulting in a 35% operating deficit.

Mission

READWORKS IS AN EDUCATION-TECHNOLOGY NON-PROFIT FOCUSED ON IMPROVING READING COMPREHENSION THAT, THROUGH ITS DIGITAL PLATFORM, PROVIDES RESEARCH-BASED CONTENT, CURRICULAR SUPPORTS, AND OTHER FEATURES THAT INTEGRATE WITH CORE ENGLISH LANGUAGE ARTS (ELA) CURRICULA. IN THE 2020-2021 SCHOOL YEAR ALONE, READWORKS WAS USED BY MORE THAN 1 MILLION EDUCATORS AND THEIR MILLIONS OF STUDENTS, INCLUDING THOSE IN 93% OF THE HIGHEST-POVERTY K-8 SCHOOLS-THE POPULATION WE ARE MOST FOCUSED ON BASED ON OUR MISSION.

Program Service Accomplishments

Program 1
Expenses: $3,079,503 Revenue: $265,611

DRIVEN BY THE SCIENTIFIC STUDY OF READING, READWORKS CREATES PROVEN, HIGH-QUALITY CONTENT, TEACHER GUIDANCE, AND INTEGRATED TOOLS THAT IMPROVE TEACHER EFFECTIVENESS AND STUDENT ACHIEVEMENT...

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DRIVEN BY THE SCIENTIFIC STUDY OF READING, READWORKS CREATES PROVEN, HIGH-QUALITY CONTENT, TEACHER GUIDANCE, AND INTEGRATED TOOLS THAT IMPROVE TEACHER EFFECTIVENESS AND STUDENT ACHIEVEMENT. READWORKS, A SUPPLEMENTAL RESOURCE SUPPORTING ALL READING CURRICULA, HELPS DEVELOP SUCCESSFUL, JOYFUL READING COMPREHENSION.READWORKS CONTINUES TO FOCUS ON GROWING AND IMPROVING OUR PRODUCT TO IMPACT THE MILLIONS OF USERS WE SERVE, BASED ON DATA, LEARNING SCIENCE, AND A DEEP UNDERSTANDING AND EMPATHY FOR THE PRACTICAL REALITIES FACED BY TEACHERS AND STUDENTS TODAY. WE HAVE EXPANDED OUR RESOURCES, GUIDANCE, AND RESEARCH OFFERING SIGNIFICANTLY, INCLUDING:- EARLY LEARNING DECODABLE TEXTS: RESEARCH SHOWS EARLY READERS NEED THE OPPORTUNITY TO BUILD BACKGROUND KNOWLEDGE WHILE PRACTICING THE LETTER-SOUND CODE THAT BRINGS READING TO LIFE. READWORKS HAS RELEASED NEW, RICH DECODABLE TEXTS FOR K-2 READERS TO PRACTICE THEIR WORD RECOGNITION SKILLS WHILE BUILDING KNOWLEDGE IN A COHESIVE, STRUCTURED MANNER. IN TODAY'S MARKETPLACE, READWORKS IS THE ONLY OPTION FOR FREE, KNOWLEDGE-BUILDING, NONFICTION DECODABLES. MANY COMPETITORS ARE FOR PURCHASE ONLY, LIMITING THE ACCESSIBILITY TO TEACHERS AND FAMILIES WHO CAN AFFORD THEM. ADDRESSING THIS IMBALANCE IN ACCESS TO HIGH-QUALITY, RESEARCH-BASED SUPPLEMENTAL MATERIALS IS ONE OF READWORKS' TOP PRIORITIES AND LIES AT THE HEART OF OUR MISSION.- SPANISH-ENGLISH PAIRED TEXTS: WHEN A STUDENT HAS AN OPPORTUNITY TO READ BOTH IN THEIR NATIVE LANGUAGE AND ENGLISH, THEY TAP INTO LINGUISTIC RESOURCES THAT MAY NOT OTHERWISE BE ACCESSIBLE. IN THE SUMMER OF 2024, READWORKS RELEASED 65 NEW SPANISH-ENGLISH PAIRED TEXT SETS, IN PARTNERSHIP WITH VANDERBILT UNIVERSITY, TO SUPPORT OUR SPANISH-SPEAKING STUDENTS' ENGLISH READING COMPREHENSION. WITHIN TWO MONTHS OF LAUNCH, OUR SPANISH-ENGLISH PAIRED TEXTS WERE ASSIGNED OR PRINTED NEARLY 62,000 TIMES.- TEACHER GUIDANCE: IN THE 2023-2024 SCHOOL YEAR, 314,797 EDUCATORS INCREASED THEIR KNOWLEDGE BY ACCESSING OUR NO-COST TEACHER GUIDES, NATIONAL WEBINARS, AND PROFESSIONAL DEVELOPMENT INTENSIVES. THROUGHOUT THIS SCHOOL YEAR, 2,280 PARTICIPATED IN OUR LIVE WEBINAR SERIES, A 6% INCREASE IN THE AVERAGE NUMBER OF LIVE ATTENDEES COMPARED TO THE 2022-2023 SCHOOL YEAR. IN ADDITION TO ATTENDING LIVE, OUR WEBINARS WERE PLAYED ON DEMAND 2,995 TIMES. AFTER ATTENDING A READWORKS WEBINAR, THE NUMBER OF EDUCATORS WHO USED OUR PRODUCTS WITH RESEARCH-BASED PRACTICES GREW BY 30%.- OUR RESEARCH TEAM RELEASED NEW, PUBLICLY AVAILABLE FINDINGS TO DEMONSTRATE READWORKS' IMPACT, INCLUDING: 1) AFTER A SIX-WEEK INTERVENTION, TEACHERS REPORTED GROWTH IN THEIR INSTRUCTIONAL PRACTICES AND STUDENTS' DECODING SKILLS AND READING CONFIDENCE. 2) AFTER A NINE-WEEK INTERVENTION, STUDENTS IN THE EXPERIMENTAL GROUP IMPROVED 11% ON THE SCIENCE BACKGROUND KNOWLEDGE ASSESSMENT.IN THE 2023-2024 SCHOOL YEAR, READWORKS WELCOMED CAMERON AMSTATER TO THE BOARD OF DIRECTORS. CAMERON HAS BEEN THE CAREER DEVELOPMENT PROGRAM MANAGER FOR REEL WORKS FOR TWO YEARS, WHERE SHE OVERSEES TRAINING PROGRAMS THAT PREPARE INDIVIDUALS FROM UNDERREPRESENTED COMMUNITIES FOR CAREERS IN TV AND FILM PRODUCTION. BEFORE WORKING FOR REEL WORKS, SHE WORKED IN TV/FILM PRODUCTION FOR OVER 10 YEARS ON SHOWS LIKE BOARDWALK EMPIRE, MR. ROBOT, POSE, AND SUCCESSION. SHE WAS INTRODUCED TO READWORKS IN 2019 AND WAS THRILLED TO JOIN THE INAUGURAL YOUNG PROFESSIONAL COUNCIL. IN 2021, SHE VOLUNTEERED FOR THE READWORKS TUTORING PILOT PROGRAM AND WAS GRATEFUL FOR THE OPPORTUNITY TO GET TO KNOW BOTH HER TUTEE AND THE READWORKS PLATFORM IN THE PROCESS. SHE WAS CO-CHAIR OF THE YPC FROM 2021-2023.READWORKS IS PROUD TO HAVE PARTNERED WITH CULTURAL INSTITUTIONS LIKE THE INTERNATIONAL QUILT MUSEUM, THE GILDER LEHRMAN INSTITUTE OF AMERICAN HISTORY, THE NATIONAL FISH AND WILDLIFE FOUNDATION, THE PHILADELPHIA MUSEUM OF ART, THE NEW-YORK HISTORICAL SOCIETY, THE AMERICAN MUSEUM OF NATURAL HISTORY, AND MORE. THIS YEAR, WE LAUNCHED A NEW PARTNERSHIP WITH GOOGLE EDUCATION. AS WE CONTINUE SERVING STUDENTS AND EDUCATORS, WE LOOK FORWARD TO PARTNERING WITH MORE PRESTIGIOUS INSTITUTIONS AND GROWING OUR PORTFOLIO OF PARTNERS TO PROVIDE EVEN MORE OF THE HIGH-QUALITY, NONFICTION TEXTS FOR WHICH WE ARE KNOWN.OUR 2024 ANNUAL REPORT CAN BE FOUND HERE: HTTPS://HEYZINE.COM/FLIP-BOOK/EEAAD85E43.HTML#PAGE/1

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,418,513
Program Service Revenue $265,611
Investment Income $22,863
Other Revenue $0
TOTAL REVENUE $2,706,987

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,356,986
Fundraising Expenses $285,492
Program Expenses $3,079,503
Other Expenses $1,292,734
TOTAL EXPENSES $3,649,720

Year-over-Year Comparison

2023 2022 Change
Revenue $2,706,987 $4,603,761 -0.4%
Expenses $3,649,720 $3,007,175 +0.2%
Net Income $-942,733 $1,596,586 -1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
10
Employees
19
Volunteers
10

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$258,659
Total Directors
10
$0
Key Employees
2
$390,000
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DARIA L WALLACH CHAIR 1.00
Officer Director
$0 $0 $0
WILSON NEELY TREASURER 1.00
Officer Director
$0 $0 $0
JAMIE BEARD DIRECTOR 1.00
Director
$0 $0 $0
GINA N CERVETTI DIRECTOR 1.00
Director
$0 $0 $0
CATHY JAMES PAGLIA DIRECTOR 1.00
Director
$0 $0 $0
MANDY CASAMASSIMA DIRECTOR 1.00
Director
$0 $0 $0
KARIM KAM MOOLANI DIRECTOR 1.00
Director
$0 $0 $0
WILLARD OVERLOCK JR DIRECTOR (THROUGH 10/24) 1.00
Director
$0 $0 $0
HOWARD SCHILLER DIRECTOR 1.00
Director
$0 $0 $0
CAMERON AMSTATER DIRECTOR 1.00
Director
$0 $0 $0
TERRY BOWMAN EXECUTIVE DIRECTOR 40.00
Officer
$235,842 $22,817 $258,659
CAMERON SWAIM SENIOR DIRECTOR OF ENGINEERING 40.00
Key Emp
$190,261 $4,739 $195,000
SUSANNE NOBLES CHIEF ACADEMIC OFFICER 40.00
Key Emp
$189,133 $5,867 $195,000
BENJAMIN NICHOLS SENIOR BACK END ENGINEER 40.00
Highest
$129,929 $3,087 $133,016
JEFFREY FLEISHHACKER SENIOR DIRECTOR PRODUCT DEVELOPMENT 40.00
Highest
$126,907 $5,240 $132,147
MELISSA CALDER DIRECTOR OF MARKETING & ENGAGEMENT 40.00
Highest
$115,088 $2,230 $117,318
JACK WALTON SENIOR DATA ENGINEER 40.00
Highest
$114,740 $2,260 $117,000
ANH HUA SENIOR DATA ENGINEER 40.00
Highest
$110,962 $3,698 $114,660
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $2,706,987 $3,649,720 $1,775,760 $-942,733
2023 $4,603,761 $3,007,175 $2,685,467 $1,596,586
2022 $1,891,149 $2,618,134 $1,139,705 $-726,985
2021 $3,023,849 $2,416,061 $1,803,741 $607,788
2020 $2,608,316 $2,248,893 $1,371,746 $359,423
2019 $1,986,262 $2,204,695 $843,342 $-218,433
2018 $2,134,448 $2,208,178 $1,053,947 $-73,730
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