OUR CITY READING 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

2001

Legal Domicile

Principal Officer

JIM BOSCOV

Phone

6103703726

Tax Period

2023-01-01 to 2023-12-31

OUR CITY READING INC, founded in 2001, is a community nonprofit in the Community Improvement sector that reported $2.0M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.4M, a strong 71% operating margin.

Mission

TO RESTORE RESIDENCES AND TO CONSTRUCT NEW BUILDINGS FOR NEW INDUSTRIES WITHIN THE CITY OF READING. TO REDEVELOP THE BUSINESS DISTRICTS OF THE CITY OF READING THROUGH RESTORATION OR CREATION OF NEW BUILDINGS. TO MANAGE AND BUILD APARTMENTS IN THE CITY OF READING.

Program Service Accomplishments

Program 1

Expenses: $533,538 Revenue: $78,553

OUR CITY READING, INC - THE ORGANIZATION OPERATES A PROGRAM TO REHABILITATE AND THEN SELL RESIDENTIAL REAL ESTATE IN THE CITY OF READING, PENNSYLVANIA, FOR MODERATE-INCOME INDIVIDUALS AND FAMILIES...

OUR CITY READING, INC - THE ORGANIZATION OPERATES A PROGRAM TO REHABILITATE AND THEN SELL RESIDENTIAL REAL ESTATE IN THE CITY OF READING, PENNSYLVANIA, FOR MODERATE-INCOME INDIVIDUALS AND FAMILIES. IN 2018, ONE PROPERTY WAS SOLD, AND AS OF DECEMBER 31, 2018 NO FURTHER PROPERTIES ARE IN REHABILITATION.

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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 $421,898

Program Service Revenue $0

Investment Income $514,507

Other Revenue $1,077,042

TOTAL REVENUE $2,013,447

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $533,538

Other Expenses $587,562

TOTAL EXPENSES $587,562

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,013,447	$1,689,681	+0.2%
Expenses	$587,562	$457,021	+0.3%
Net Income	$1,425,885	$1,232,660	+0.2%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES BOSCOV	CHAIRMAN	3.00	Officer Director	$0	$0	$0
MICHAEL EHLERMAN	PRESIDENT	5.00	Officer Director	$0	$0	$0
JOHN CONNELLY	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CRAIG POOLE	DIRECTOR	3.00	Director	$0	$0	$0
KEN CHRISTIAN	DIRECTOR	3.00	Director	$0	$0	$0
TIMOTHY J DALEY	DIRECTOR	3.00	Director	$0	$0	$0
JACK GULATI	DIRECTOR	3.00	Director	$0	$0	$0
THOMAS MCMAHON	DIRECTOR	3.00	Director	$0	$0	$0
DR JEROME MARCUS	DIRECTOR	3.00	Director	$0	$0	$0
KEN PICK	DIRECTOR	3.00	Director	$0	$0	$0
TODD TAYLOR	DIRECTOR	3.00	Director	$0	$0	$0
AL WEBER	DIRECTOR	3.00	Director	$0	$0	$0
SCOTT W ZUIDEMA ESQ	DIRECTOR	3.00	Director	$0	$0	$0
MICHELLE DUPELL	CONTROLLER	10.00	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
2024	No data	No data	No data	No data
2023	$2,013,447	$587,562	$68,584,660	$1,425,885
2022	$1,689,681	$457,021	$67,946,619	$1,232,660
2021	$2,008,089	$405,963	$67,658,685	$1,602,126
2020	$4,899,446	$529,374	$66,487,925	$4,370,072
2019	$1,631,034	$514,521	$63,514,756	$1,116,513
2018	$2,540,429	$1,268,533	$63,630,413	$1,271,896