Read Foundation Inc

EIN: 223423957 501(c)(3) Community Improvement

Woodbridge, NJ

Total Revenue
$65,450
Total Expenses
$68,318
Total Assets
$25,386
Net Assets
$25,386
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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
1997
Legal Domicile
NJ
Tax Period
2025-01-01 to 2025-12-31

Read Foundation Inc, founded in 1997, is a micro nonprofit in the Community Improvement sector that reported $65K in total revenue in fiscal year 2025. Revenue fell 21% from the prior year — a significant decline worth monitoring.

Mission

Funding of various educational programs of participating Municipalities in Central and Southern Jersey

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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 (2025)

Revenue Breakdown

Contributions & Grants $65,442
Program Service Revenue $0
Investment Income $8
Other Revenue $0
TOTAL REVENUE $65,450

Expense Breakdown

Grants Paid $10,634
Salaries & Benefits $39,547
Fundraising Expenses $0
Program Expenses $10,634
Other Expenses $18,137
TOTAL EXPENSES $68,318

Year-over-Year Comparison

2025 2024 Change
Revenue $65,450 $83,187 -0.2%
Expenses $68,318 $87,835 -0.2%
Net Income $-2,868 $-4,648 -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
3
Independent Members
3
Employees
2
Volunteers
N/A

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
1
$0
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jacqueline Mnusco Secretary 10.00
Director
$0 $0 $0
Ed Ackerman Treasurer 10.00
Director
$0 $0 $0
William Kolibas President 15.00
Officer
$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
2025 $65,450 $68,318 $25,386 $-2,868
2024 $83,187 $87,835 $28,254 $-4,648
2023 $86,330 $89,029 $34,047 $-2,699
2022 $80,935 $85,670 $35,600 $-4,735
2021 $81,783 $101,566 $40,335 $-19,783
2020 $92,213 $91,127 $60,118 $1,086
2019 $132,877 $129,754 $59,032 $3,123
2018 $144,077 $135,586 $55,909 $8,491
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