READ TO LEAD INC C/O J BERMAN DAVI… - Form 990 Financial Data

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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

Principal Officer

LEWIS W BERNARD

Phone

2124504383

Tax Period

2022-07-01 to 2023-06-30

READ TO LEAD INC C/O J BERMAN DAVIS POLK & WARDWELL LLC, founded in 1992, is a micro nonprofit that reported $57K in total revenue in fiscal year 2022. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $2.1M exceeded revenue, resulting in a 3525% operating deficit.

Mission

TO HELP STUDENTS IN HIGH-POVERTY COMMUNITIES DEVELOP LITERACY AND LEADERSHIP SKILLS. BY CREATING DIGITAL LEARNING GAMES AND CURRICULUM SET IN THE PROFESSIONAL WORLD AND SUPPORTING EDUCATORS IN CREATING STUDENT-CENTERED CLASSROOMS, WE INVITE STUDENTS TO TAKE CHARGE OF THEIR LEARNING. READ TO LEAD, INC. BELIEVES THAT WHEN STUDENTS TAKE ON THE LEADERSHIP ROLE IN OUR LEARNING GAMES, THEY READ MORE CLOSELY, THINK CRITICALLY, AND BECOME BETTER PROBLEM SOLVERS. READ TO LEAD, INC.'S RESEARCH SHOWS THAT STUDENTS-ESPECIALLY THOSE STRUGGLING WITH LITERACY IMPROVE IN THEIR READING AND WRITING ACHIEVEMENT, FIND MOTIVATION IN BEING THE LEADER, AND SEE THE TRUE CONNECTION BETWEEN SCHOOL AND THEIR FUTURES.

Program Service Accomplishments

Program 1

Expenses: $663,807 Revenue: $0

DIRECT SUPPORT TO PARTNERS: READ TO LEAD, INC. PARTNERS WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS IN HIGH-POVERTY COMMUNITIES ACROSS THE UNITED STATES TO PROVIDE TURN-KEY CURRICULUM AND...

DIRECT SUPPORT TO PARTNERS: READ TO LEAD, INC. PARTNERS WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS IN HIGH-POVERTY COMMUNITIES ACROSS THE UNITED STATES TO PROVIDE TURN-KEY CURRICULUM AND RESOURCES, ALONG WITH UNIQUE WORKPLACE LITERACY LEARNING GAME EXPERIENCES, TO SUPPORT SCHOOL DAY AND OUT-OF-SCHOOL TIME LEARNING AND ENGAGEMENT.IN ADDITION, TO IMPROVE STUDENT OUTCOME READ TO LEAD, INC. OFFERS EDUCATORS IN-PERSON AND VIRTUAL COACHING SUPPORT AND TRANSFORMS THE WAY EDUCATORS USE PROJECT-BASED AND PERSONALIZED LEARNING TOOLS. SOME OF READ TO LEAD, INC.'S SCHOOL PARTNER SITES ALSO SERVE AS OUR "LEARNING LABS," INFORMING OUR DIGITAL PRODUCTION AND ENSURING THAT WE ARE ALWAYS DESIGNING FROM REAL-LIFE EXPERIENCE.

Program 2

Expenses: $611,805 Revenue: $0

CURRICULUM & RESOURCES FOR EDUCATORS: READ TO LEAD, INC. CREATES DIGITAL LEARNING GAMES AND CURRICULUM SET IN THE PROFESSIONAL WORLD THAT FOSTER STUDENTS' LITERACY AND LEADERSHIP SKILLS AND CONNECT SCHOOL TO LIFE IN THE WORKPLACE. OUR SUITE OF LITERACY LEARNING GAMES, THE READ TO LEAD SERIES, HELPS STUDENTS DEVELOP ADVANCED LITERACY SKILLS, INCREASES CAREER READINESS, AND BUILDS 21ST CENTURY SKILLS SUCH AS PERSISTENCE AND DECISION-MAKING. THE LEARNING GAMES, CURRICULUM, ALONG WITH PROFESSIONAL DEVELOPMENT RESOURCES FOR EDUCATORS ARE FREELY ACCESSIBLE ONLINE FOR BOTH SCHOOL DAY AND OUT-OF-SCHOOL TIME USE.THROUGH ITS DIGITAL PLATFORM, READ TO LEAD, INC. REACHES EDUCATORS AND STUDENTS NATIONWIDE. ANY EDUCATOR CAN REGISTER FOR FREE AND HAVE ACCESS TO READ TO LEAD, INC.'S LEARNING GAMES AND CURRICULUM.

Program 3

Expenses: $205,186 Revenue: $0

RESEARCH AND ASSESSMENT: READ TO LEAD, INC. CONDUCTS RESEARCH TO ASSESS THE IMPACT OF ITS PROGRAMS ON STUDENTS AND TO PROVIDE REGULAR FEEDBACK THAT ENABLES CONTINUOUS IMPROVEMENT. BOTH INTERNAL AND EXTERNAL EVALUATIONS HAVE CONSISTENTLY SHOWN THAT OUR PROGRAMS EFFECTIVELY IMPROVE STUDENTS' LITERACY, READING ATTITUDES AND BEHAVIORS, 21ST CENTURY SKILLS, AND COLLEGE - AND CAREER-READINESS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $18,957

Program Service Revenue $0

Investment Income $37,735

Other Revenue $0

TOTAL REVENUE $56,692

Expense Breakdown

Grants Paid $0

Salaries & Benefits $636,884

Fundraising Expenses $217,247

Program Expenses $1,480,798

Other Expenses $1,383,184

TOTAL EXPENSES $2,054,978

Year-over-Year Comparison

	2022	2021	Change
Revenue	$56,692	$3,177,958	-1.0%
Expenses	$2,054,978	$3,697,805	-0.4%
Net Income	$-1,998,286	$-519,847	+2.8%

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

Total Directors

$13,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEWIS W BERNARD	CHAIRMAN	10.00	Officer Director	$0	$0	$0
CARL W TURNIPSEED	TREASURER	2.00	Officer Director	$0	$0	$0
BEVERLY FANGER CHASE	SECRETARY	3.00	Officer Director	$0	$0	$0
NICOLE CAMPBELL	DIRECTOR/CONSULTANT	2.00	Director	$13,000	$0	$13,000
CHRISTINA CHIU	DIRECTOR	1.00	Director	$0	$0	$0
JON FRIEDLAND	DIRECTOR	1.00	Director	$0	$0	$0
LISA KENNEDY	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON KETE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MCCORMICK	DIRECTOR (THRU 9/22)	1.00	Director	$0	$0	$0
MITA PATNAIK	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS RUDENSTINE	DIRECTOR	15.00	Director	$0	$0	$0
CYNTHIA VANCE	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS HAYNES - MANAGING DIR	DEVELOPMENT (THRU 8/22)	40.00	Highest	$110,358	$12,804	$123,162
MARGARET RITTER - DIRECTOR OF	PARTNER SITES (THRU 12/22)	40.00	Highest	$130,297	$17,474	$147,771
NICHOLAS OVERTON - DIR SOFTWARE	ENGINEERING (THRU 12/22)	40.00	Highest	$155,130	$17,130	$172,260
ALISON TEPPER - DIR CONTENT	CURRICULUM (THRU 11/22)	40.00	Highest	$125,200	$17,786	$142,986
JULIANA HESS - DIR RESEARCH	LEARNING (THRU 12/22)	40.00	Highest	$145,038	$18,667	$163,705

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

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