PHILADELPHIA READS INC

EIN: 271723052 501(c)(3)

NEWTOWN SQUARE, PA

Total Revenue
$25,187
Total Expenses
$30,156
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
PA
Principal Officer
WILLIAM GOEBEL
Phone
2152204247
Tax Period
2019-07-01 to 2020-06-30

PHILADELPHIA READS INC, founded in 2010, is a micro nonprofit that reported $25K in total revenue in fiscal year 2019. Revenue fell 95% from the prior year — a significant decline worth monitoring. Expenses of $30K exceeded revenue, resulting in a 20% operating deficit.

Mission

THE MISSION OF PHILADELPHIA READS IS TO BUILD A "CITY OF READERS" BY PROVIDING "IN AND "OUT OF SCHOOL TIME" PROGRAMS THAT STRENGTHEN THE LITERACY SKILLS OF PHILADELPHIA SCHOOL CHILDREN SO THEY WILL BE ABLE TO READ AT OR ABOVE GRADE LEVEL BY THE END OF THEIR THIRD GRADE YEAR. OUR VISION IS FOR ALL CHILDREN TO READ COMPETENTLY AND INDEPENDENTLY BY GRADE 4 IN ORDER TO BE SUCCESSFUL LEARNERS AND FOR THEM TO ALSO DEVELOP A LIFE-LONG LOVE OF READING. WE ENVISION THAT ALL STUDENTS WILL UNDERSTAND THAT THE POWER OF LITERACY ENABLES THEIR FUTURE SUCCESS. WE ALSO ENVISION A DEDICATED CORE OF TRAINED VOLUMTEERS TO SERVE AS MENTORS AND EXPAND LITERACY OPPORTUNITIES FOR STUDENTS.

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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 (2019)

Revenue Breakdown

Contributions & Grants $25,181
Program Service Revenue $0
Investment Income $6
Other Revenue $0
TOTAL REVENUE $25,187

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $20,184
Other Expenses $30,156
TOTAL EXPENSES $30,156

Year-over-Year Comparison

2019 2018 Change
Revenue $25,187 $488,423 -0.9%
Expenses $30,156 $500,109 -0.9%
Net Income $-4,969 $-11,686 -0.6%
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
6
Independent Members
6
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
0
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LOWELL THOMAS ESQUIRE CHAIRMAN 2.00
Director
$0 $0 $0
WILLIAM GOEBEL TREASURER 2.00
Director
$0 $0 $0
JEFF RAUDENBUSH DIRECTOR 2.00
Director
$0 $0 $0
EMMANUEL BROWN ESQUIRE DIRECTOR 2.00
Director
$0 $0 $0
CHRISTINE CAPUTO DIRECTOR 2.00
Director
$0 $0 $0
KIM POWERS DIRECTOR 2.00
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
2020 $25,187 $30,156 No data $-4,969
2019 $488,423 $500,109 $4,969 $-11,686
2018 $633,830 $708,153 $24,361 $-74,323
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