ST CLOUD, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)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.
EQUIPPING THE EURASIAN CHURCH FOR EFFECTIVE MINISTRY (UKRAINE, KAZAKHSTAN, KYRGYZSTAN, BELARUS, RESTRICTED ACCESS COUNTRIES).
Support of War Relief Initiatives in Ukraine (Due to Russia's Aggression which started in February 2022): Due to Russia's unprovoked invasion of Ukraine near the end of February, 2022, and the...
Support of War Relief Initiatives in Ukraine (Due to Russia's Aggression which started in February 2022): Due to Russia's unprovoked invasion of Ukraine near the end of February, 2022, and the resulting humanitarian catastrophe, READ Ministries continued its Crisis Relief Fund during 2023 to provide financial resources for assisting its trusted legacy Ukrainian partners and their crisis response efforts. Both existing and new financial supporters of READ Ministries responded with stunning generosity and continued to respond during 2023. In 2023, READ Ministries distributed a total of $118,600 from its Crisis Relief Fund to its Ukrainian-partner network scattered across Ukraine.
Support of Resource Distribution Initiatives: In 2023, READ Ministries distributed a total of approximately 6,000 books to the 110+ local churches participating in Theological School-based Ministry...
Support of Resource Distribution Initiatives: In 2023, READ Ministries distributed a total of approximately 6,000 books to the 110+ local churches participating in Theological School-based Ministry Training Initiatives funded by READ Ministries and conducted by its ministry partners in Khmelnitsky, Poltava, and Kharkov oblasts in Ukraine. In 2023, READ Ministries donated literature resources to students and graduates of various member theological schools. Each of the approximately 200 graduates of accredited departments within these member schools received a gift of about 8-10 books upon their graduation in 2023. In 2023, READ donated 10 textbooks to each of the approximately 30 graduate-level students enrolled in the Masters in Christian Leadership Program at the Kremenchuk Evangelical Seminary. In 2023, READ Ministries funded a digital library distribution initiative targeting evangelical church leaders in a restricted access country in Central Asia. In 2023, READ Ministries donated literature resources to each of the approximate 40 graduates at Zolotonosha branch of Kremenchuk Evangelical Seminary. In 2023, READ Ministries distributed 10 church libraries to graduates of both the Kremenets Branch of Zaporizhzhya Bible Seminary and Rivne Regional Bible College. In 2023, READ Ministries distributed 20 church libraries in Ternopil with Zaporizhzhya Bible Seminary. In 2023, READ Ministries, in collaboration with a key partner, embarked on a distribution initiative of the Central Asian Bible Commentary.
Support of Equipping Ministry Leaders Initiatives: In 2023, READ Ministries funded and conducted a regional conferences for church leaders. One of the main conferences was in Ivano-Frankivsk with...
Support of Equipping Ministry Leaders Initiatives: In 2023, READ Ministries funded and conducted a regional conferences for church leaders. One of the main conferences was in Ivano-Frankivsk with Tavrisky Christian Institute. Included in the conference was the distribution of 20-volume theological libraries to each conference attendee. In 2023, READ Ministries provided funding for a training conference for 50 leaders in the Ternopil oblast. Included in this conference was the distribution of a a 20-volume theological library to each church leader who attended.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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 |
| 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 |
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