READING WORKS (EIN 454493786) - 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

2012

Legal Domicile

Principal Officer

DANIEL SMITH

Phone

3136288382

Tax Period

2021-07-01 to 2022-03-31

READING WORKS, founded in 2012, is a micro nonprofit that reported $42K in total revenue in fiscal year 2021. Revenue fell 63% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $36K, a strong 86% operating margin.

Mission

READING WORKS IS DEDICATED TO HELPING DETROITERS DEVELOP FOUNDATIONAL SKILLS THAT LEAD TO GOOD JOBS AND CAREER ADVANCEMENT. WE FOSTER RELATIONSHIPS BETWEEN QUALITY ADULT EDUCATION PROVIDERS AND COMPANIES, CREATING LONG-TERM EMPLOYMENT OPPORTUNITIES FOR THE PEOPLE AND BUSINESS OF DETROIT.

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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 (2021)

Revenue Breakdown

Contributions & Grants $42,300

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $42,300

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,479

Other Expenses $6,021

TOTAL EXPENSES $6,021

Year-over-Year Comparison

	2021	2020	Change
Revenue	$42,300	$113,536	-0.6%
Expenses	$6,021	$152,639	-1.0%
Net Income	$36,279	$-39,103	-1.9%

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
THOMAS MCGINNIS	CHAIR	1.50	Officer Director	$0	$0	$0
PAUL ANGER	IMMEDIATE PAST CHAIR	1.50	Officer Director	$0	$0	$0
DEB SCOLA	SECRETARY	1.50	Officer Director	$0	$0	$0
DANIEL SMITH	TREASURER	1.50	Officer Director	$0	$0	$0
DANIEL CHERRIN	DIRECTOR	1.50	Director	$0	$0	$0
GARY DEMBS	DIRECTOR	1.50	Director	$0	$0	$0
AHMAD EZZEDDINEPHD	DIRECTOR	1.50	Director	$0	$0	$0
EVE HALEY	DIRECTOR	1.50	Director	$0	$0	$0
TANISE HILL	DIRECTOR	1.50	Director	$0	$0	$0
ALISSA SEVRIOUKOVA	DIRECTOR	1.50	Director	$0	$0	$0
ROBERT SHANER PHD	DIRECTOR	1.50	Director	$0	$0	$0
NISHANTH VARANASI	DIRECTOR	1.50	Director	$0	$0	$0
MARITA GROBBEL STARTING 319	FORMER EXECUTIVE DIRECTOR	40.00	Officer 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
2022	$42,300	$6,021	No data	$36,279
2019	$280,410	$335,816	$361,753	$-55,406
2018	$493,211	$338,923	$414,198	$154,288

READING WORKS