READ Association of Saginaw County (EIN 381987542) - 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

1965

Legal Domicile

Phone

9897558402

Tax Period

2024-01-01 to 2024-06-30

READ Association of Saginaw County, founded in 1965, is a small nonprofit in the Education sector that reported $119K in total revenue in fiscal year 2024. Revenue fell 54% from the prior year — a significant decline worth monitoring. Expenses of $182K exceeded revenue, resulting in a 53% operating deficit.

Mission

Children's literacy mentor programs

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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 (2024)

Revenue Breakdown

Contributions & Grants $99,768

Program Service Revenue $0

Investment Income $-598

Other Revenue $20,000

TOTAL REVENUE $119,170

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,466

Fundraising Expenses $34,961

Program Expenses $114,801

Other Expenses $100,352

TOTAL EXPENSES $181,818

Year-over-Year Comparison

	2024	2023	Change
Revenue	$119,170	$256,333	-0.5%
Expenses	$181,818	$265,921	-0.3%
Net Income	$-62,648	$-9,588	+5.5%

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

443

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	Role	Reportable Comp	Other Comp	Total
Mimi Bell	Secretary	Director	$0	$0	$0
Steve Canole	Director	Director	$0	$0	$0
Lindsay Eggers	Director	Director	$0	$0	$0
Kevin Frank	Treasurer	Director	$0	$0	$0
Rev Ted McCulloch	Director	Director	$0	$0	$0
Jeff McCulloch	Director	Director	$0	$0	$0
Matt Peterson	Director	Director	$0	$0	$0
Demond Tibbs	Director	Director	$0	$0	$0
Lisa Tran	Chairman	Director	$0	$0	$0
Eric Neumeyer	Director	Director	$0	$0	$0
Andrea Muladore	Director	Director	$0	$0	$0
Maria McCarville	Vice President	Director	$0	$0	$0
Ericka Taylor	Director	Director	$0	$0	$0
Bob Boldt	Director	Director	$0	$0	$0
Derrick Harge	Director	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	$119,170	$181,818	$433,084	$-62,648
2023	$256,333	$265,921	$521,335	$-9,588
2022	$332,429	$246,109	$530,923	$86,320
2021	$273,149	$187,238	$351,839	$85,911
2020	$195,349	$160,438	$286,117	$34,911
2019	$210,404	$180,610	$230,384	$29,794

READ Association of Saginaw County