READWORKSINC (EIN 133593812) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1990

Legal Domicile

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.

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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%)

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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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$258,659

Total Directors

Key Employees

$390,000

Highest Compensated

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
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

READWORKSINC