READSOURCE INC (EIN 465228845) - 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

2013

Legal Domicile

Principal Officer

DR KARA LOFTIN

Phone

4042522591

Tax Period

2024-07-01 to 2025-06-30

READSOURCE INC, founded in 2013, is a small nonprofit in the Diseases & Disorders sector that reported $873K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $1.1M exceeded revenue, resulting in a 26% operating deficit.

Mission

EMPOWERING COMMUNITIES TO SERVE STRUGGLING LEARNERS.

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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 $209,926

Program Service Revenue $649,886

Investment Income $11,494

Other Revenue $1,700

TOTAL REVENUE $873,006

Expense Breakdown

Grants Paid $0

Salaries & Benefits $960,685

Fundraising Expenses $55,034

Program Expenses $851,573

Other Expenses $141,842

TOTAL EXPENSES $1,102,527

Year-over-Year Comparison

	2024	2023	Change
Revenue	$873,006	$958,634	-0.1%
Expenses	$1,102,527	$1,329,899	-0.2%
Net Income	$-229,521	$-371,265	-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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$522,664

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kara Loftin	Head of School	10.0	Officer	$0	$69,198	$407,800
LORETTA EDMOND	MANAGING DIRECTOR	40.0	Officer	$0	$16,928	$114,864
Mark R Bell II	Treasurer	1.0	Director	$0	$0	$0
Arun V Mohan	Trustee	1.0	Director	$0	$0	$0
Andrew Kang	Trustee	1.0	Director	$0	$0	$0
Jeffrey L Wright	Board Chair	1.0	Director	$0	$0	$0
Jim Chapman	Trustee	1.0	Director	$0	$0	$0
John A Draughon	Trustee	1.0	Director	$0	$0	$0
John Curtis Fisher	Trustee	1.0	Director	$0	$0	$0
Paul M Ollinger	Trustee	1.0	Director	$0	$0	$0
Rick Rollins	Trustee	1.0	Director	$0	$0	$0
Caroline Wildman	Trustee	1.0	Director	$0	$0	$0
Elizabeth J Shults	Secretary	1.0	Director	$0	$0	$0
Elizabeth Miller Tucker	Trustee	1.0	Director	$0	$0	$0
Jennifer Morgan	Trustee	1.0	Director	$0	$0	$0
Jennifer R Dangar	Vice Chair	1.0	Director	$0	$0	$0
Kate Denny	Chair of Committee on Trustee	1.0	Director	$0	$0	$0
Michaeline Roland	Trustee	1.0	Director	$0	$0	$0
Nancy Bryant	Trustee	1.0	Director	$0	$0	$0
Sarah Bottini	Chair of Advancement Committee	1.0	Director	$0	$0	$0
Adam Webb	Trustee	1.0	Director	$0	$0	$0
Burch Hanson	Trustee	1.0	Director	$0	$0	$0
Jessica Jones	Trustee	1.0	Director	$0	$0	$0
Robyn Curnow	Trustee	1.0	Director	$0	$0	$0
Susan Armstrong	Trustee	1.0	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
2025	$873,006	$1,102,527	$1,200,058	$-229,521
2024	No data	No data	No data	No data
2023	$1,078,787	$1,309,965	$1,723,637	$-231,178
2022	$2,050,876	$1,452,497	$2,093,374	$598,379
2021	$1,480,098	$1,386,439	$1,477,246	$93,659
2018	$1,222,457	$701,006	$667,602	$521,451

READSOURCE INC