READ TO LEAD INC C/O J BERMAN DAVIS POLK & WARDWELL LLC

EIN: 133666846 501(c)(3)

NEW YORK, NY

Total Revenue
$3,755
Total Expenses
$1,233,113
Total Assets
N/A
Net Assets
N/A
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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
1992
Legal Domicile
NY
Principal Officer
LEWIS W BERNARD
Phone
2124504383
Tax Period
2023-07-01 to 2023-08-31

READ TO LEAD INC C/O J BERMAN DAVIS POLK & WARDWELL LLC, founded in 1992, is a micro nonprofit that reported $4K in total revenue in fiscal year 2022. Revenue fell 93% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 32739% operating deficit.

Mission

THE ORGANIZATION CEASED OPERATIONS AS OF DECEMBER 31, 2022. PRIOR TO THEIR CLOSURE, READ TO LEAD HELPED STUDENTS IN HIGH-POVERTY COMMUNITIES BUILD LITERACY AND LEADERSHIP SKILLS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $3,755
Other Revenue $0
TOTAL REVENUE $3,755

Expense Breakdown

Grants Paid $1,215,354
Salaries & Benefits $0
Fundraising Expenses $388
Program Expenses $1,232,376
Other Expenses $17,759
TOTAL EXPENSES $1,233,113

Year-over-Year Comparison

2022 2021 Change
Revenue $3,755 $56,692 -0.9%
Expenses $1,233,113 $2,054,978 -0.4%
Net Income $-1,229,358 $-1,998,286 -0.4%
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

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
12

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
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LEWIS W BERNARD CHAIRMAN 5.00
Officer Director
$0 $0 $0
CARL W TURNIPSEED TREASURER 1.00
Officer Director
$0 $0 $0
BEVERLY FANGER CHASE SECRETARY 1.50
Officer Director
$0 $0 $0
NICOLE CAMPBELL DIRECTOR 0.50
Director
$0 $0 $0
CHRISTINA CHIU DIRECTOR 0.50
Director
$0 $0 $0
JON FRIEDLAND DIRECTOR 0.50
Director
$0 $0 $0
LISA KENNEDY DIRECTOR 0.50
Director
$0 $0 $0
SHANNON KETE DIRECTOR 0.50
Director
$0 $0 $0
MITA PATNAIK DIRECTOR 0.50
Director
$0 $0 $0
NICHOLAS RUDENSTINE DIRECTOR 7.50
Director
$0 $0 $0
CYNTHIA VANCE DIRECTOR 0.50
Director
$0 $0 $0
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
2023 $56,692 $2,054,978 $1,229,358 $-1,998,286
2023 $3,755 $1,233,113 No data $-1,229,358
2022 $3,177,958 $3,697,805 $3,901,385 $-519,847
2021 $3,226,363 $3,705,349 $6,999,794 $-478,986
2020 $3,848,753 $3,818,162 $7,594,942 $30,591
2019 $4,935,075 $4,223,395 $7,152,655 $711,680
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