READING AND EDUCATION FOR ADULT DEVELOPMENT (EIN 541364885) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

RYAN CORRIGAN

Phone

8042889930

Tax Period

2023-07-01 to 2024-06-30

READING AND EDUCATION FOR ADULT DEVELOPMENT, founded in 1982, is a small nonprofit that reported $533K in total revenue in fiscal year 2018. Revenue decreased 9% compared to the prior year. The organization ran a surplus of $88K, a strong 17% operating margin.

Mission

TO HELP ADULTS WITH LOW LEVEL READING SKILLS DEVELOP BASIC READING SKILLS THROUGH CLASS INSTRUCTION AND ONE-ON-ONE TUTORING.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $705,697

Program Service Revenue $0

Investment Income $65,050

Other Revenue $64,998

TOTAL REVENUE $835,745

Expense Breakdown

Grants Paid $0

Salaries & Benefits $504,606

Fundraising Expenses $156,216

Program Expenses $483,200

Other Expenses $226,030

TOTAL EXPENSES $730,636

Year-over-Year Comparison

	2023	2022	Change
Revenue	$835,745	$636,997	+0.3%
Expenses	$730,636	$659,530	+0.1%
Net Income	$105,109	$-22,533	-5.7%

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

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
MARGARET MAGEE	BOARD MEMBER	4.00	Director	$0	$0	$0
JANET PALMER	BOARD MEMBER	4.00	Director	$0	$0	$0
ELLEN MARIE HESS	VICE-PRESIDENT	4.00	Officer Director	$0	$0	$0
WILLIAM SEYMOUR	PRESIDENT	4.00	Officer Director	$0	$0	$0
THERESA MOORE	BOARD MEMBER	4.00	Director	$0	$0	$0
ANNE WALESKI	BOARD MEMBER	4.00	Director	$0	$0	$0
CASSANDRA REYNOLDS	SECRETARY	4.00	Officer Director	$0	$0	$0
JORDAN COLES	BOARD MEMBER	4.00	Director	$0	$0	$0
MICHAEL WALSH	BOARD MEMBER	4.00	Director	$0	$0	$0
MARGARET HILL	BOARD MEMBER	4.00	Director	$0	$0	$0
MATTHEW GRAVES	TREASURER	4.00	Officer Director	$0	$0	$0
KADY SALMON	VICE-PRESIDENT	4.00	Officer Director	$0	$0	$0
REBECCA J TRES	BOARD MEMBER	4.00	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
2025	No data	No data	No data	No data
2024	$835,745	$730,636	$1,958,867	$105,109
2023	$636,997	$659,530	$1,690,124	$-22,533
2022	$504,480	$582,036	$1,521,713	$-77,556
2021	$732,503	$511,643	$1,780,256	$220,860
2020	$944,309	$460,166	$1,353,507	$484,143
2019	$532,890	$444,440	$870,970	$88,450

READING AND EDUCATION FOR ADULT DEVELOPMENT