READING TEAM INC

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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

2000

Legal Domicile

Principal Officer

CHARON DARRIS

Phone

2122802042

Tax Period

2023-07-01 to 2024-06-30

READING TEAM INC, founded in 2000, is a small nonprofit in the Human Services sector that reported $603K in total revenue in fiscal year 2023. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $926K exceeded revenue, resulting in a 54% operating deficit.

Mission

THE READING TEAM RUNS TWO EARLY LITERACY PROGRAMS: (1) PRESCHOOL - 2X/WEEK (2-HRS/SESSION) TEACHERS INSTRUCT 3 AND 4 YEAR OLD CHILDREN ON PHONEMIC AWARENESS, LETTER RECOGNITION, AND SOUND MANIPULATION. (2) AFTER-SCHOOL - 5X/WEEK (2.5-HRS/SESSION) TEACHERS INSTRUCT CHILDREN IN GRADES K-5 ON PHONEMIC AWARENESS, READING COMPREHENSION, LITERARY DEVICES, AND WRITING.

Program Service Accomplishments

Program 1

Expenses: $740,783

THE READING TEAM PRESCHOOL PROGRAM IS AN INTENSIVE AND MULTIFACETED EARLY LITERACY INTERVENTION THAT SERVES CHILDREN FROM NEIGHBORHOOD DAY CARE CENTERS AND HEAD START PROGRAMS. THIS PROGRAM ENABLES THE CHILDREN WE SERVE TO DEVELOP THE SKILLS, KNOWLEDGE, AND ATTITUDES THAT ARE DEVELOPMENTAL PRECURSORS TO READING AND WRITING. IT IS ADMINISTERED BY TRAINED, PAID TEACHING STAFF CALLED LITERACY MENTORS. THE READING TEAM AFTER-SCHOOL PROGRAM SERVES CHILDREN IN KINDERGARTEN THROUGH FIFTH GRADE WHO TYPICALLY ARE REFERRED TO US BY THEIR TEACHERS BECAUSE THEY ARE STRUGGLING TO KEEP UP IN THE CLASSROOM AND SOMETIMES BECAUSE THEY HAVE CLASSROOM BEHAVIOR PROBLEMS AS WELL. THE READING TEAM ENGAGES THE CHILDREN IN A WIDE RANGE OF LITERACY-NURTURING ACTIVITIES THAT ENABLE THEM TO MAKE SIGNIFICANT GAINS IN READING ABILITY THEIR FIRST YEAR IN THE PROGRAM. MORE THAN 80% OF READING TEAM CHILDREN HAVE HISTORICALLY PASSED THE NEW YORK STATE ENGLISH LANGUAGE ARTS EXAM GIVEN STARTING IN 3RD GRADE (ON AVERAGE IN HARLEM, ONLY 30% OF CHILDREN PASS THIS EXAM)THE AFTER-SCHOOL PROGRAM IS ADMINISTERED BY TRAINED,PAID TEACHERS KNOWN AS LITERARY MENTORS. THE READING TEAM PARENT PROGRAMS HELP PARENTS MAKE BETTER ACADEMIC DECISIONS AND LIFE CHOICES FOR THEIR CHILDREN. OUR ELEMENTARY SCHOOL ADVISORY PROGRAM ADVISES AND SUPPORTS PARENTS AS THEY MAKE IMPORTANT DECISIONS ABOUT THEIR CHILDREN'S SCHOOLING AND A SERIES OF PARENT CONVERSATIONS TEACHES PARENTS SOME SIMPLE AND POSITIVE THINGS THEY CAN DO TO SUPPORT THEIR CHILDREN'S DEVELOPING LITERACY.

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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 $568,984

Program Service Revenue $0

Investment Income $34,304

Other Revenue $0

TOTAL REVENUE $603,288

Expense Breakdown

Grants Paid $0

Salaries & Benefits $580,889

Fundraising Expenses $96,669

Program Expenses $740,783

Other Expenses $345,437

TOTAL EXPENSES $926,326

Year-over-Year Comparison

	2023	2022	Change
Revenue	$603,288	$1,116,899	-0.5%
Expenses	$926,326	$860,244	+0.1%
Net Income	$-323,038	$256,655	-2.3%

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

$70,083

Total Directors