READ MINISTRIES INC (EIN 200222800) - 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

2003

Legal Domicile

Principal Officer

STEVEN ECKERT

Phone

7635520652

Tax Period

2023-01-01 to 2023-12-31

READ MINISTRIES INC, founded in 2003, is a small nonprofit in the Religion sector that reported $502K in total revenue in fiscal year 2023. Revenue fell 43% from the prior year — a significant decline worth monitoring.

Mission

EQUIPPING THE EURASIAN CHURCH FOR EFFECTIVE MINISTRY (UKRAINE, KAZAKHSTAN, KYRGYZSTAN, BELARUS, RESTRICTED ACCESS COUNTRIES).

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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 $523,772

Program Service Revenue $0

Investment Income $4,065

Other Revenue $-25,513

TOTAL REVENUE $502,324

Expense Breakdown

Grants Paid $290,555

Salaries & Benefits $182,525

Fundraising Expenses $94,114

Program Expenses $205,300

Other Expenses $77,890

TOTAL EXPENSES $550,970

Year-over-Year Comparison

	2023	2022	Change
Revenue	$502,324	$874,610	-0.4%
Expenses	$550,970	$714,392	-0.2%
Net Income	$-48,646	$160,218	-1.3%

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

$96,037

Total Directors

$96,037

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN ECKERT	EXECUTIVE DIRECTOR	40.00	Officer Director	$96,037	$0	$96,037
MARK POUND	TREASURER	1.00	Officer Director	$0	$0	$0
RICH SCHOENERT	CHAIRMAN	2.00	Officer Director	$0	$0	$0
DAVID MELIN	BOARD MEMBER	1.00	Director	$0	$0	$0
VOLODYMYR DEGTYARYOV	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD MAGNUSON	BOARD MEMBER	1.00	Director	$0	$0	$0
KIM PAREIGAT	BOARD MEMBER	1.00	Director	$0	$0	$0
RACHEL ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHANIE YAEGER	BOARD MEMBER	1.00	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
2024	No data	No data	No data	No data
2023	$502,324	$550,970	$406,534	$-48,646
2022	$874,610	$714,392	$457,365	$160,218
2021	$456,241	$364,019	$297,487	$92,222
2020	$353,504	$352,961	$203,621	$543
2019	$312,766	$336,602	$201,672	$-23,836
2018	$386,647	$325,682	$226,051	$60,965

READ MINISTRIES INC